House bill would exempt patent office from sequestration

The patent office draws its funds from application fees and does not rely on funding from the general budget. But it still had its budget slashed earlier this year as part of the across-the-board funding cuts known as sequestration.

The bill's sponsors argue that because the office doesn't rely on tax revenue, it should not be subject to sequestration. The California Democrats also claim that processing patent applications more quickly spurs economic growth and job creation.

The bill is called the Patents and Trademarks Encourage New Technology Jobs Act, or PATENT Jobs Act.