http://www.cnn.com/2011/11/20/politics/super-committee/
To stave off automatic spending cuts known as a sequester, the super committee must propose ways to reduce deficits by at least $1.2 trillion over 10 years. At least seven of its 12 members must approve a plan in order to send it to the House and Senate in the form of legislation.
Then, both chambers must vote on the bill, without amendment, by December 23. For the plan to pass, a simple majority in each chamber must vote in favor.
A failure to pass any agreement would result in $1.2 trillion in automatic spending cuts across much of the federal budget starting in 2013, evenly divided between defense and non-defense spending. Defense Secretary Leon Panetta warned Congress this week that such cuts could cripple the American military establishment.
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