and Budget for the 5-fiscal-year period, the first fiscal year of which begins immediately after the last fiscal year covered by the corresponding initial five-year report under subsection (a). (3) For such 5-fiscal-year period, the net amount by which the actual cost of all such Acts exceeds the estimated cost of all such Acts, or the net amount by which the estimated cost of all such Acts exceeds the actual cost of all such Acts, as the case may be. (4) If the actual total cost of all such Acts exceeds the estimated total cost, then propose legislative language to eliminate such excess cost. (5) If the actual total cost of all such Acts exceeds the estimated total cost, then a detailed statement of the most likely reasons why that occurred. (6) A list of each Act for which the actual total cost exceeded the estimated total cost for the applicable five-year period described in paragraph (3) and the dollar amount of such excess. (c) Definition As used in this section, the term direct spending has the meaning given such term in section 250(c)(8) of the Balanced Budget and Emergency Deficit Control Act of 1985. 4. Fast track procedure (a) Presidential submission to Congress Upon receiving any report from the Director of the Office of Management and Budget pursuant to subsection (a) or (b) of section 3, the President shall, within 7 days, submit any proposed legislative language set forth in such report to the House of Representatives and to the Senate. (b) Congressional consideration (1) Introduction (A) In general On the day on which the proposed legislative language is submitted by the President to the House of Representatives and the Senate under subsection (a), it shall be introduced (by request) in the Senate by the majority leader of the Senate or by Members of the Senate designated by the majority leader of the Senate and shall be introduced (by request) in the House by the majority leader of the House or by Members of the House designated by the majority leader of the House. (B) Not in session If either