Monday, May 27, 2024

Digital News

Child Labor is the...

The United Nations Convention on the Rights of the Child stipulates that States...

ERO Denver removes fugitive...

DENVER — Officers with Enforcement and Removal Operations (ERO) Denver removed a fugitive...

Historically Black Colleges and...

ATLANTA, April 25, 2024 /PRNewswire/ -- SouthStar Energy Services®, a member of the...
HomeFinanceFinal Sequestration Report...

Final Sequestration Report for Fiscal Year 2024

Once the 12 annual appropriation acts for a fiscal year are enacted, section 254 of the Balanced Budget and Emergency Deficit Control Act of 1985 (Public Law 99-177, as amended) requires the Congressional Budget Office to report estimates of the limits (often called caps) on discretionary budget authority that are in effect for that year. CBO also must report whether, according to its estimates, enacted legislation for the current fiscal year has exceeded those caps and thus would trigger a cancellation of budgetary resources, called a sequestration.

In CBO’s estimation, a sequestration will not be required for 2024. However, the authority to make that determination—and, if so, how to cut budgetary resources—rests with the Administration’s Office of Management and Budget (OMB). Those determinations are based on OMB’s own estimates of federal spending.

Originally published at https://www.cbo.gov/publication/59876

- Powered by VUGA -content marketing