S.Amdt. 2350

1. Adds SECTION 1003. EXEMPTION FROM SEQUESTRATION FOR FISCAL YEAR 2014 at the end of subtitle A of title X

   Adds a section

   In S. 1197 · Placed on Calendar Senate

   (4) A statement of the balance in the Fund at the beginning and end of such fiscal year.

   Inserted: SECTION 1003. EXEMPTION FROM SEQUESTRATION FOR FISCAL YEAR 2014.

   Inserted: (a) In General.--Section 251A(5) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901a(5)) is amended--

   Inserted: (1) by redesignating subparagraphs (A) and (B) as subparagraphs (B) and (C), respectively;

   Inserted: (2) by inserting before subparagraph (B), as redesignated, the following:

   Inserted: "(A) Modification of defense function reductions.--Notwithstanding any other provision of this Act, for discretionary appropriations and direct spending accounts within function 050 (defense function)--

   Inserted: "(i) for fiscal year 2014, OMB--

   Inserted: "(I) shall not implement a reduction to such discretionary appropriations and direct spending accounts in the amount allocated under paragraph (4); and

   Inserted: "(II) shall reduce such discretionary appropriations and direct spending by a total amount of $15,000,000,000;

   Inserted: "(ii) for fiscal year 2015, OMB--

   Inserted: "(I) shall not implement a reduction to such discretionary appropriations and direct spending accounts in the amount allocated under paragraph (4); and

   Inserted: "(II) shall reduce such discretionary appropriations and direct spending by a total amount of $30,000,000,000;

   Inserted: "(iii) for fiscal year 2016, OMB shall increase the otherwise applicable amount of the reduction to such discretionary appropriations and direct spending accounts by $2,000,000,000;

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   Inserted: "(iv) for fiscal year 2017, OMB shall increase the otherwise applicable amount of the reduction to such discretionary appropriations and direct spending accounts by $9,000,000,000;

   Inserted: "(v) for fiscal year 2018, OMB shall increase the otherwise applicable amount of the reduction to such discretionary appropriations and direct spending accounts by $9,000,000,000;

   Inserted: "(vi) for fiscal year 2019, OMB shall increase the otherwise applicable amount of the reduction to such discretionary appropriations and direct spending accounts by $12,000,000,000;

   Inserted: "(vii) for fiscal year 2020, OMB shall increase the otherwise applicable amount of the reduction to such discretionary appropriations and direct spending accounts by $15,000,000,000;

   Inserted: "(viii) for fiscal year 2021, OMB shall increase the otherwise applicable amount of the reduction to such discretionary appropriations and direct spending accounts by $17,400,000,000; and

   Inserted: "(ix) for each of fiscal years 2014 through 2021, OMB shall calculate the amount of the respective reductions to discretionary appropriations and direct spending (as adjusted under this subparagraph) in accordance with subparagraphs (B) and (C).";

   Inserted: (3) in subparagraph (B)(i), as redesignated, by inserting "as adjusted, if adjusted, in accordance with subparagraph (A)" after "paragraph (4)"; and

   Inserted: (4) in subparagraph (C), as redesignated--

   Inserted: (A) by inserting "as adjusted, if adjusted, in accordance with subparagraph (A)" after "paragraph (4)"; and

   Inserted: (B) by striking "subparagraph (A)" and inserting "subparagraph (B)".

   Inserted: (b) Revised Sequestration Preview Report.--Not later than 10 days after the date of enactment of this Act--

   Inserted: (1) the Office of Management and Budget shall issue a revised sequestration preview report for fiscal year 2014, pursuant to section 254(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 904(c)), and a revised report on the Joint Committee reductions for fiscal year 2014, pursuant to section 251A(11) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901a(11)), to reflect the amendments made by subsection (a); and

   Inserted: (2) the President shall issue a revised sequestration order of direct spending budgetary reductions for fiscal year 2014 pursuant to section 251A(8) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901a(8)).

   Original wording

   At the end of subtitle A of title X, insert the following:

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As printed