Business Representatives Discuss the Effects of Sequestration

At a day long conference in Silver Spring sponsored by the Montgomery County Department of Economic Development, Montgomery County Chamber of Commerce and Bisnow Media, business executives, real estate specialists, and government officials discussed their concerns with possible sequestration. As reported by the Gazette.Net:

“We need a reconciliation of the sequestration issue so people can better plan their budgets, bids and proposed contracts,” said Roger Waldron, president of the Coalition for Government Procurement and former acting deputy chief acquisition officer for the General Services Administration. The Washington, D.C., trade association represents commercial contractors in the federal market.

The effects of sequestration on Maryland were discussed last week before the State’s Spending Affordability Committee.  The Department of Legislative Services reported that Maryland would lose$117.6 million in Federal Funds if sequestration takes effect, but the economic impact would be much greater.  DLS projects that the State could lose 53,500 jobs during the budget year ending June 30 and 60,200 more next year.

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