U.S. Sen. Joe Manchin, D-W.Va., spoke up Wednesday afternoon about the Bipartisan Budget Act of 2013.
Manchin said he was pleased with his colleagues on both sides of the isle and will build upon the deal by working together toward a long-term budgetary fix.
Sen. Patty Murray and Rep. Paul Ryan introduced the act to provide budget certainty through 2014 and 2015. The act is meant to reduce the deficit by $20-23 million while replacing some of the across-the-board sequester cuts in 2014 and 2015 "with targeted reform and more thoughtful spending cuts."
"I will be reviewing the details of this budget agreement to make sure we strike the proper balance between funding our government, creating certainty for businesses to hire hardworking Americans and reducing our deficit," Manchin said. "Let's return our focus to rebuilding America."
While Manchin said he was pleased Democrats and Republicans were able to sit together to negotiate a deal, he does not believe the deal is perfect yet.
"While this deal is not perfect, and not the one I would have written myself, it is a first step toward getting Congress back on track," he said.
Details on the bill include a $63 million in sequestration relief over the next two years. In 2014, discretionary spending would increase to $1.012 trillion ($40 billion higher than the current law). In 2015, the discretionary spending would increase to $1.014 trillion ($23 billion higher than current law.)
There would be $85 billion in mandatory savings and non-tax revenue over the next ten years. Sequestration of mandatory programs would be extended through 2022 and 2023 to save $28 billion. There'd be a $20-$23 billion in net deficit reduction over the next ten years.
Additional provisions would put a limit on allowable government contractor compensations, work toward energy independence, federal retirement and healthcare, natural resources, education and transportation.