Congress is unlikely to act before automatic spending cuts kick in March 1 . The House passed a bill last week that would cut $61 billion from the federal budget over 10 years and raise taxes on wealthier Americans by about $1.5 trillion. Democrats and Republicans are blaming each other instead of working on alternatives .
Congress is unlikely to act before automatic spending cuts kick in March 1 . The cuts will be phased in over time and can be changed later on . Democrats and Republicans are blaming each other instead of working on alternatives .