A new report by theÂ Congressional Budget OfficeÂ says that sequestration is not required for fiscal yearÂ 2015 asÂ budget appropriations for defense and nondefense programs do not exceed caps on discretionary budget authority.
CBO said MondayÂ that the enacted defense funding for fiscal 2015 is equal to the limit of $585.8 billion, while the nondefense budget of $513.8 billion is slightly below the cap ofÂ $514.1 billion.
The caps have been adjusted to include a total ofÂ $86.3 billion for overseas contingency operations, disaster relief, Ebola outbreak emergency requirements as well asÂ Medicare, Social Security Disability Insurance andÂ Supplemental Security Income program integrity initiatives, CBO noted.
The report states that if Congress later adds appropriations that breach the budget caps before the end of the fiscal year, CBO will reduce its estimatedÂ limits onÂ discretionary spendingÂ for fiscal 2016.
CBO also said that automatic spending reductions included in the Budget Control Act of 2011 will reduce theÂ discretionary budgetÂ caps for fiscal years 2016 through 2021, but the amount will still gradually increaseÂ from $1.02 trillion in fiscal 2016 to $1.14 trillion in fiscal 2021.