§934 Annual Report and Sequestration Order

Summary

OMB must publish and print an annual PAYGO report in the Federal Register no later than 14 days (excluding weekends and holidays) after Congress adjourns at the end of a session. The report covers the PAYGO scorecards, any policy changes under section 933(c), any emergency laws labeled under section 933(g), any sequestration information required by subsection (b), and other data to help the public understand actions taken. If the report shows a debit on either PAYGO scorecard for the budget year, OMB must prepare and the President must issue a sequestration order to cut direct spending enough to offset that debit under section 935. If both scorecards have debits, the order offsets the larger one. OMB must send the report and order to the House and the Senate. When a sequestration is issued, the report must list for each affected account the baseline amount subject to sequestration, the amount to be cut, and the outlay reductions in the budget year and the next fiscal year.