2 USC 904 - Reports and orders

U.S Code last checked for updates: Nov 22, 2024

§ 904.

Reports and orders

(a)

Timetable

(b)

Submission and availability of reports

(c)

Sequestration preview reports

(1)

Reporting requirement

(2)

Discretionary sequestration report

(3)

Pay-as-you-go sequestration reports

The preview reports shall set forth, for the current year and the budget year, estimates for each of the following:

(A)

The amount of net deficit increase or decrease, if any, calculated under section 902(b) of this title.

(B)

A list identifying each law enacted and sequestration implemented after November 5, 1990, included in the calculation of the amount of deficit increase or decrease and specifying the budgetary effect of each such law.

(C)

The sequestration percentage or (if the required sequestration percentage is greater than the maximum allowable percentage for medicare) percentages necessary to eliminate a deficit increase under section 902(c) of this title.

(4)

Deficit sequestration reports

The preview reports shall set forth for the budget year estimates for each of the following:

(A)

The maximum deficit amount, the estimated deficit calculated under section 903(b) of this title, the excess deficit, and the margin.

(B)

The amount of reductions required under section 902 of this title, the excess deficit remaining after those reductions have been made, and the amount of reductions required from defense accounts and the reductions required from non-defense accounts.

(C)

The sequestration percentage necessary to achieve the required reduction in defense accounts under section 903(d) of this title.

(D)

The reductions required under sections 903(e)(1) and 903(e)(2) of this title.

(E)

The sequestration percentage necessary to achieve the required reduction in non-defense accounts under section 903(e)(3) of this title.

The CBO report need not set forth the items other than the maximum deficit amount for fiscal year 1992, 1993, or any fiscal year for which the President notifies the House of Representatives and the Senate that he will adjust the maximum deficit amount under the option under section 903(g)(1)(B) of this title.

(5)

Explanation of differences

(d)

Notification regarding military personnel

(e)

Sequestration update reports

(f)

Final sequestration reports

(1)

Reporting requirement

(2)

Discretionary sequestration reports

The final reports shall set forth estimates for each of the following:

(A)

For the current year and each subsequent year through 2025 the applicable discretionary spending limits for each category and an explanation of any adjustments in such limits under section 901 of this title, including a final estimate of the adjustment for disaster funding.

(B)

For the current year and the budget year the estimated new budget authority and outlays for each category and the breach, if any, in each category.

(C)

For each category for which a sequestration is required, the sequestration percentages necessary to achieve the required reduction.

(D)

For the budget year, for each account to be sequestered, estimates of the baseline level of sequestrable budgetary resources and resulting outlays and the amount of budgetary resources to be sequestered and resulting outlay reductions.

(3)

Pay-as-you-go and deficit sequestration reports

(4)

Explanation of differences

(5)

Presidential order

(g)

Within-session sequestration reports and order

(h)

GAO compliance report

Upon request of the Committee on the Budget of the House of Representatives or the Senate, the Comptroller General shall submit to the Congress and the President a report on—

(1)

the extent to which each order issued by the President under this section complies with all of the requirements contained in this subchapter, either certifying that the order fully and accurately complies with such requirements or indicating the respects in which it does not; and

(2)

the extent to which each report issued by OMB or CBO under this section complies with all of the requirements contained in this subchapter, either certifying that the report fully and accurately complies with such requirements or indicating the respects in which it does not.

(i)

Low-growth report

At any time, CBO shall notify the Congress if—

(1)

during the period consisting of the quarter during which such notification is given, the quarter preceding such notification, and the 4 quarters following such notification, CBO or OMB has determined that real economic growth is projected or estimated to be less than zero with respect to each of any 2 consecutive quarters within such period; or

(2)

the most recent of the Department of Commerce’s advance preliminary or final reports of actual real economic growth indicate that the rate of real economic growth for each of the most recently reported quarter and the immediately preceding quarter is less than one percent.

(j)

Economic and technical assumptions

(Pub. L. 99–177, title II, § 254, Dec. 12, 1985, 99 Stat. 1078; Pub. L. 100–119, title I, §§ 102(b)(1), 106(e)(2), Sept. 29, 1987, 101 Stat. 773, 781; Pub. L. 101–508, title XIII, § 13101(a), Nov. 5, 1990, 104 Stat. 1388–586; Pub. L. 103–66, title XIV, §§ 14002(c)(2), 14003(b), Aug. 10, 1993, 107 Stat. 684, 685; Pub. L. 103–322, title XXXI, § 310001(g)(2), Sept. 13, 1994, 108 Stat. 2105; Pub. L. 104–316, title I, § 102(d), Oct. 19, 1996, 110 Stat. 3828; Pub. L. 105–33, title X, § 10206, Aug. 5, 1997, 111 Stat. 704; Pub. L. 112–25, title I, § 103, Aug. 2, 2011, 125 Stat. 246; Pub. L. 113–67, div. A, title I, § 121(3), (4), Dec. 26, 2013, 127 Stat. 1175; Pub. L. 118–5, div. A, title I, § 101(c), June 3, 2023, 137 Stat. 13.)

cite as: 2 USC 904