The discussion here uses the example of discretionary funding under the current continuing resolution (the Further Continuing Appropriations and Other Extensions Act, 2024; P.L. 118-22), which provides funding for fiscal year 2024. In the scenarios CBO examined, if enacted funding equaled the annualized amount of funding under the continuing resolution, sequestration would be required and would result in across-the-board reductions ranging from 5 percent to 9 percent for nondefense funding and from zero to 1 percent for defense funding, depending on when appropriations were enacted and what form they took.Because CBO’s budget projections can differ from those of OMB and because changes to budgetary resources could occur between the time of this writing and the point at which sequestration was required, the sequestration percentages could differ from those estimated for this letter. The ultimate authority to decide those percentages rests with OMB. Lawmakers (that is, the Congress and the President) could affect the outcomes—whether there is a sequestration and how large it would be—by enacting legislation that would provide different amounts of funding than assumed in this letter, cancel budget authority that had been provided previously (which can create more room under the caps), waive or alter the caps, or specify how much funding qualifies for adjustments to the caps.