By law, the Congressional Budget Office (CBO) is required to issue a report by August 15 each year that provides estimates of the caps on discretionary budget authority in effect for each fiscal year through 2021. No additional appropriations or substantive changes to the caps have occurred since CBO's previous sequestration report, which was published in January 2012, and no sequestration (cancellation of budgetary resources) was required this fiscal year. CBO continues to estimate that the discretionary appropriations provided for 2012 do not exceed the caps and thus that, as of now, no further cap adjustments pursuant to the Budget Control Act of 2011 will be required as a result of appropriation actions this year.
