Nobody, to my knowledge, has really explained what the effect or potential effect of sequestration is on the budget of the USPTO. One government report noted that it would have an effect: Sequestration impact on USPTO: $242 million, according to OMB. I have not seen any discuss as to the impact on staffing, delays, IT projects, or anything else at the USPTO.
On Friday, Congressional Representatives Mike Honda (D-San Jose), Zoe Lofgren (D-San Jose) and Anna G. Eshoo (DPalo Alto) introduced the Patents And Trademarks Encourage New Technology (PATENT) Jobs Act which would to exempt the United States Patent and Trademark Office (USPTO) from the cuts imposed by budget sequestration.
The full text of the bill can be found here: https://docs.google.com/file/d/0B6w3UFOkfQ5YUV9ISTVsVlNfUzA/edit?pli=1
For more coverage, see the excellent and prolific IPWatchdog®.