The Honorable J. Dennis Hastert
Speaker of the House of Representatives
Washington, DC 20515
Dear Mr. Speaker:
Section 1106 of Title 31, United States Code, requires that the President transmit to the
Congress a supplemental update of the Budget that was transmitted to the Congress earlier in the
year. This supplemental update of the Budget, commonly known as the Mid-Session Review,
contains revised estimates of the budget surplus, receipts, outlays, and budget authority for fiscal
years 2001 through 2011 and other summary information required by statute.
This report also includes the 0MB Sequestration Update Report to the President and
Congress for Fiscal Year 2002, as required by the Budget Enforcement Act of 1990 (BEA), as
amended. The report provides current estimates of the status of discretionary spending and the
discretionary spending limits. It also provides the status of pay-as-you-go legislation based on
reports transmitted to date. The report shows that, in the absence of changes in the caps and
pay-as-you-go requirements, the law would require large automatic reductions in both discretionary
and mandatory programs. The Administration will work with Congress to ensure that no
unintended sequesters of spending occur.
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