Failure To enact savings— Except as provided in subsection (d), if the Commission bill to achieve the requirements described in section 4(b)(3)(B) is not enacted, notwithstanding section 251A of the Balanced Budget and Emergency Deficit Control Act of 1985 (
2 U.S.C. 901a), effective on the first October 1 occurring after consideration of the Commission bill in the Senate and the House of Representatives, and October 1 of every fiscal year thereafter, the President shall limit the annual growth in outlays by ordering a sequestration, effective upon issuance, that ensures projected total spending for the fiscal year is not more than 3 percent greater than total spending for the previous fiscal year by reducing each nonexempt account by the uniform percentage necessary,
unless—