Sec. 101 Repeal the 2013 sequester and delay the 2014 sequester
Calculation of total deficit reduction and allocation to functions—
Subparagraph (E) of section 251A(3) is amended to read as follows:
“(E) For fiscal year 2014, reducing the amount calculated under subparagraphs (A) through (D) by $27,500,000,000.”
Paragraph (4) of section 251A of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901a) is amended by striking “On March 1, 2013, for fiscal year 2013, and in its sequestration preview report for fiscal years 2014 through 2021” and inserting “On January 2, 2014, for fiscal year 2014, and in its sequestration preview report for fiscal years 2015 through 2021”.
Defense and nondefense function reductions— Paragraphs (5) and (6) of section 251A of the Balanced Budget and Emergency Deficit Control Act of 1985 are amended by striking “2013” and inserting “2014” each place it appears.
Implementing discretionary reductions—
Section 251A(7)(A) of the Balanced Budget and Emergency Deficit Control Act of 1985 is amended by striking “2013.—On January 2, 2013, for fiscal year 2013” and inserting “2014.—On January 2, 2014, for fiscal year 2014”.
Section 251A(7)(B) of such Act is amended by striking “2014” and inserting “2015” each place it appears.
Savings— The savings set forth by the enactment of title II shall achieve the savings that would otherwise have occurred as a result of the sequestration under section 251A of the Balanced Budget and Emergency Deficit Control Act of 1985.