Pratt & Whitney President Testifies Before House Armed Services Committee
Pratt & Whitney President and Aerospace Industries Association Chairman Dave Hess testified before the House Armed Services Committee Wednesday on the uncertainty around the topic of sequestration and the possible effects on national defense.
Broadly, sequestration involves spending cuts mandated by the Budget Control Act of 2011, which take effect on Jan. 2, 2013, unless Congress and the administration agree on a solution. There is significant uncertainty over how sequestration would work, and many groups, including AIA, are seeking clarification from Washington.
Hess shared his perspective on the detrimental consequences that sequestration could cause on the defense industry and urged the White House for more clarity.
"As an industry, we are already seeing the impacts of potential sequestration budget cuts today," Hess said. "Companies are limiting hiring and halting investments - largely due to the uncertainty about how sequestration cuts would be applied."
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