the Treasury of the United States a trust fund to be known as the Public Debt Reduction Trust Fund , consisting of any amount appropriated or credited to the Trust Fund as provided in this section or section 9602(b). (b) Transfers to trust fund There are hereby appropriated to the Public Debt Reduction Trust Fund amounts equivalent to the amounts designated under section 6097 (relating to designation for public debt reduction). (c) Expenditures Amounts in the Public Debt Reduction Trust Fund shall be used by the Secretary for purposes of paying at maturity, or to redeem or buy before maturity, any obligation of the Federal Government included in the public debt (other than an obligation held by the Federal Old-Age and Survivors Insurance Trust Fund, or the Department of Defense Military Retirement Fund). Any obligation which is paid, redeemed, or bought with amounts from the Public Debt Reduction Trust Fund shall be canceled and retired and may not be reissued. . (b) Clerical amendment The table of sections for such subchapter is amended by adding at the end the following new item: Sec. 9512. Public Debt Reduction Trust Fund. . (c) Effective date The amendments made by this section shall apply to amounts received after the date of the enactment of this Act. 4. Taxpayer-generated sequestration of Federal spending To reduce the public debt (a) Sequestration To reduce the public debt Part C of the Balanced Budget and Emergency Deficit Control Act of 1985 is amended by inserting after section 253 the following new section: 253A. Sequestration to reduce the public debt (a) Sequestration Within 15 days after Congress adjourns to end a session, and on the same day as sequestration (if any) under sections 251, 252, and 253, and under section 5(b) of the Statutory Pay-As-You-Go Act of 2010, but after any sequestration required by those sections, there shall be a sequestration equivalent to the estimated aggregate amount designated under section 6097 of the Internal Revenue Code of 1986 for the last taxable year ending 1