Is sequestration really going to happen? Yes, at least temporarily. It will go into effect at midnight (March 1st) and will remain in place until or unless Congress passes legislation to stop it, replace it, and/or fully or partially reverse its effects. At this point, it seems unlikely that Congress could pass any such legislation before the summer at the earliest, so the effects of the sequester will be felt for the next several months, at least. Download the Report.