Living on The Fiscal Edge

Even if Congress and President Obama avoid the so-called fiscal cliff, a compromise may include cuts that could affect community colleges.

The fiscal cliff comprises a worst-case scenario by year’s end that could throw the economy into a downward tailspin—the expiration of popular tax benefits on Dec. 31 and a looming “sequestration,” which would kick in on Jan. 2 if lawmakers don’t hammer out a deal to rein in federal spending.

The sequestration calls for across-the-board cuts to most non-defense discretionary programs. While Pell Grants would be exempt in fiscal year 2013, other education and workforce training programs would see an 8.2-percent cut, including TRIO, GEAR UP, Perkins career and technical education, adult education, Trade Adjustment Assistance Community College and Career Training (TAACCCT) grants, and Workforce Investment Act programs, among others. <Read more.>

Via Times Staff, Community College Times.