January 17, 2012
(Bloomberg) — After a year consumed by talk of deep budget cuts, defense companies and their lobbying firms will disclose this week how much they spent trying to protect vulnerable weapons programs.
The fourth-quarter disclosure reports, due on Jan. 20, will tote up how much contractors spent lobbying to avert defense cuts as a congressional “supercommittee” tried — and failed – – to cut future spending by $1.2 trillion over a decade.
That failure triggered automatic cuts to most defense programs, which, when combined with already planned cuts, would reduce future spending plans by almost $1 trillion over the next decade unless Congress overturns the plan.
Need a subscription to read full article