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The White House
Office of the Press Secretary
For Immediate Release

Statement by the Press Secretary on S. 25, S. 540

On Saturday, February 15, 2014, the President signed into law:

S. 25, which extends for an additional fiscal year the current‑law sequestration of certain Federal direct spending; repeals a current-law reduction in annual cost-of-living adjustments to military pensions for current military members and retirees; and establishes a $2.3 billion transitional fund for Medicare payments for physicians services in 2017; and

S. 540, the "Temporary Debt Limit Extension Act," which temporarily suspends the public debt limit until March 15, 2015.