Sequestration Transparency Act of 2012

Sequestration Transparency Act of 2012 - Requires the President on July 9, 2012, to submit to Congress a detailed report on the implementation of certain discretionary reductions (in security and nonsecurity categories) and nonexempt direct spending reductions in the sequestration ordered by the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) for FY2013 on January 2, 2013.

(The Gramm-Rudman-Hollings Act was amended by the Budget Control Act of 2011 to revise the discretionary spending limits and reduce the discretionary appropriations and direct spending specified in the Gramm-Rudman-Hollings Act unless a joint committee bill achieving an amount greater than $1.2 trillion in deficit reduction would be enacted by January 15, 2012.)

[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 3228 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 3228

 To require the President to provide a report detailing the sequester 
     required by the Budget Control Act of 2011 on January 2, 2013.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 23, 2012

 Mr. Thune (for himself, Mr. Sessions, Mr. McConnell, Ms. Ayotte, Mr. 
Roberts, Mr. Wicker, Mr. Boozman, Mr. Barrasso, Mr. Coats, Mr. Inhofe, 
 Ms. Murkowski, Mr. Cochran, Mr. Johnson of Wisconsin, Mr. Vitter, Mr. 
    DeMint, Mr. Toomey, Mr. Grassley, Mr. Isakson, Mr. Johanns, Mr. 
Chambliss, Mr. Graham, Mr. Burr, Mr. Coburn, Mr. Risch, Mr. Blunt, Mr. 
 Paul, Mr. Moran, Mr. Cornyn, Mr. Hatch, and Mr. Enzi) introduced the 
 following bill; which was read twice and referred to the Committee on 
                               the Budget

_______________________________________________________________________

                                 A BILL


 
 To require the President to provide a report detailing the sequester 
     required by the Budget Control Act of 2011 on January 2, 2013.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Sequestration Transparency Act of 
2012''.

SEC. 2. SEQUESTER PREVIEW.

    (a) In General.--On July 9, 2012, the President shall submit to 
Congress a detailed report on the sequestration required to be ordered 
by paragraphs (7)(A) and (8) of section 251A of the Balanced Budget and 
Emergency Deficit Control Act of 1985 (2 U.S.C. 901a) for fiscal year 
2013 on January 2, 2013.
    (b) Contents of Report.--The report required by subsection (a) 
shall include--
            (1) for discretionary appropriations--
                    (A) an estimate for each category of the 
                sequestration percentages and amounts necessary to 
                achieve the required reduction; and
                    (B)(i) for accounts that are funded pursuant to an 
                enacted regular appropriation bill for fiscal year 
                2013, an identification of each account to be 
                sequestered and estimates of the level of sequestrable 
                budgetary resources and resulting outlay reductions at 
                the program, project and activity level based upon the 
                enacted level of appropriations; and
                    (ii) for accounts that have not been funded 
                pursuant to an enacted regular appropriation bill for 
                fiscal year 2013, an identification of each account to 
                be sequestered and estimates of the level of 
                sequestrable budgetary resources and resulting outlay 
                reductions at the program, project and activity level 
                based upon the level of appropriations that would be 
                available under a current rate continuing resolution;
            (2) for direct spending--
                    (A) an estimate for the defense and nondefense 
                functions based on current law of the sequestration 
                percentages and amount necessary to achieve the 
                required reduction;
                    (B) an identification of the reductions required 
                for each nonexempt direct spending account at the 
                program, project, and activity level; and
                    (C) an identification of exempt direct spending 
                accounts at the program, project, and activity level; 
                and
            (3) any other data and explanations that enhance public 
        understanding of the sequester and actions to be taken under 
        it.
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