Section 254 of BBEDCA requires OMB to issue a sequestration preview report with the President's Budget submission. This preview report, the first of the three required sequestration reports for 2016, provides the status of the discretionary limits for the current year and each year thereafter through 2021 as of the end of the second session of the 113th Congress based on current law. At this time, section 251A of BBEDCA requires an adjustment to the budget year (2016) caps in this report based on the calculations included in the OMB Report to the Congress on the Joint Committee Reductions for Fiscal Year 2016. Unlike last year, when the BBA was enacted, no legislation has been enacted that replaces the Joint Committee reductions to the caps for discretionary programs in 2016 and beyond. This report also describes the President's proposals to increase the 2016 discretionary caps and replace most of the discretionary cap reductions scheduled to take place in 2017 through 2021 while extending the discretionary caps through 2025.