amended by section 101) is further amended by adding 
at the end the following new paragraph: 
‘‘(25) The term ‘total spending’ means all out-
lays of the Government, including those from off- 
budget entities.’’. 
(c) CONFORMING AMENDMENT.—The table of con-
tents set forth in 250(a) of the Balanced Budget and 
Emergency Deficit Control Act of 1985 is amended by in-
serting after the item relating to section 252 the following 
new item: 
‘‘Sec. 252A. Total spending limits.’’. 
SEC. 103. DEFICIT LIMITS. 
(a) DEFICIT LIMITS.—Section 253 of the Balanced 
Budget and Emergency Deficit Control Act of 1985 is 
amended to read as follows: 
‘‘SEC. 253. DEFICIT LIMITS. 
‘‘(a) DEFICIT PROJECTIONS.— 
‘‘(1) DEFICIT AMOUNTS.—For the current fis-
cal year and each subsequent ten fiscal years: 
‘‘(A) OMB shall prepare a report com-
paring projected total deficits and the deficit 
limits in subsection (c), and include such report 
in the budget as submitted by the President an-
nually under section 1105(a) of title 31, United 
States Code. 
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‘‘(B) CBO shall prepare a report com-
paring projected total deficit amounts and the 
deficit limits in subsection (c) and include such 
report in the CBO annual baseline and reesti-
mate of the President’s budget. 
‘‘(2) INCLUSION IN SPENDING REDUCTION OR-
DERS.—Reports prepared pursuant to subsection (a) 
shall be included in the spending reduction report 
set forth in subsection (b). 
‘‘(b) SEQUESTRATION.—(1) Within 15 calendar days 
after Congress adjourns to end a session and on the same 
day as a spending reduction ordered under sections 251, 
251A, 252, and 252A, but after any spending reduction 
required by section 251, 251A, 252, or 252A, there shall 
be a sequestration to eliminate any excess deficit. 
‘‘(2) The amount required to be sequestered in a fis-
cal year under paragraph (1) shall be obtained from non- 
exempt direct spending and discretionary spending ac-
counts. Each account shall be reduced by the uniform per-
centage necessary to achieve the required reduction in the 
deficit so as not to exceed the deficit limit for that fiscal 
year. 
‘‘(c) DEFICIT LIMITS.—In this section, the term ‘def-
icit limit’ means an amount that equals with respect to— 
‘‘(1) fiscal year 2013: 4.3 percent; 
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‘‘(2) fiscal year 2014: 2.8 percent; 
‘‘(3) fiscal year 2015: 2.4 percent; 
‘‘(4) fiscal year 2016: 2.5 percent; 
‘‘(5) fiscal year 2017: 2.0 percent; 
‘‘(6) fiscal year 2018: 1.8 percent; 
‘‘(7) fiscal year 2019: 1.9 percent; 
‘‘(8) fiscal year 2020: 1.8 percent; and 
‘‘(9) fiscal year 2021: 1.6 percent; 
of the current projected gross domestic product of the 
United States for the budget year.’’. 
(b) CONFORMING AMENDMENT.—The item relating 
to section 253 in the table of contents set forth in section 
250(a) of the Balanced Budget and Emergency Deficit 
Control Act of 1985 is amended to read as follows: 
‘‘Sec. 253. Deficit limits.’’. 
SEC. 104. REPEAL OF STATUTORY PAYGO. 
The Statutory Pay-As-You-Go Act of 2010 (2 U.S.C. 
931 note) is repealed. 
SEC. 105. REPORTS AND ORDERS. 
Section 254 of the Balanced Budget and Emergency 
Deficit Control Act of 1985 is amended— 
(1) in subsection (c), by repealing paragraph 
(1) and inserting the following new paragraph: 
‘‘(1) REPORTING REQUIREMENT.—On the dates 
specified in subsection (a), OMB and CBO shall 
issue a preview report regarding discretionary, di-
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