ABSTRACT

OMB Sequestration Preview Report to the President and Congress for Fiscal Year 2016   [open pdf - 624KB]

"The Budget Control Act of 2011 (BCA) amended the Balanced Budget and Emergency Deficit Control Act of 1985 (BBEDCA), which had expired in 2002, by reinstating limits on discretionary budget authority for 2012 through 2021. The 2013 and 2014 limits were revised by the American Taxpayer Relief Act of 2012 (ATRA), and the 2014 and 2015 limits were further revised by the Bipartisan Budget Act of 2013 (BBA). Section 254 of BBEDCA requires OMB [Office of Management and Budget] to issue a sequestration preview report with the President's Budget submission. This preview report, the first of the three required sequestration reports for 2016, provides the status of the discretionary limits for the current year and each year thereafter through 2021 as of the end of the second session of the 113th Congress based on current law. At this time, section 251A of BBEDCA requires an adjustment to the budget year (2016) caps in this report based on the calculations included in the 'OMB Report to the Congress on the Joint Committee Reductions for Fiscal Year 2016'. Unlike last year, when the BBA was enacted, no legislation has been enacted that replaces the Joint Committee reductions to the caps for discretionary programs in 2016 and beyond. This report also describes the President's proposals to increase the 2016 discretionary caps and replace most of the discretionary cap reductions scheduled to take place in 2017 through 2021 while extending the discretionary caps through 2025."

Publisher:
Date:
2015-02-02
Series:
Copyright:
Public Domain
Retrieved From:
United States Office of the White House: http://www.whitehouse.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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