Columbia, SC (WLTX) - Just 3 days after President Obama signed sequestration into law, groups the receive federal funding are feeling the cuts.
"We know that over the next year we will have to lose 140 families from our program," said Nancy Nevill Stoudenmire of the Columbia Housing Authority. "When we lose 140 houses in a Section 8 program, that means 140 landlords aren't getting that rent. So, the landlords are indirectly impacted."
Stoudenmire says the loss comes from cuts at the Department of Housing and Urban Development.
The Columbia Housing Authority will also lose $50,000 in operating funds that help pay salaries for the 18 employees that oversee the Section 8 housing program in Columbia.
"How do I eliminate 6 positions. I can't just do that," said Stoudenmire. "So, what we're looking at for that one is probably having to use some of our reserves."
Defense companies like BAE Systems are also bracing for cuts. BAE Systems employs almost 500 people in the Palmetto State.
A statement from spokeswoman Kristin Gossel said, "The indiscriminate nature of these cuts will have a devastating impact on our national security strategy and the strong industrial base needed to support our armed forces now and in the future."
Now, both the Columbia Housing Authority and BAE Systems acknowledge Congress needs to act soon.
"What is going to happen over the next 9 months if nothing ever happens in congress, is we're going to have to be continually making adjustments on our budget," said Stoudenmire.