year, 10 percent of the total excess disaster and emergency spending occurring in that base fiscal year. (iv) For the sixth fiscal year beginning after a base fiscal year, 12.5 percent of the total excess disaster and emergency spending occurring in that base fiscal year. (v) For the seventh fiscal year beginning after a base fiscal year, 15 percent of the total excess disaster and emergency spending occurring in that base fiscal year. (vi) For the eighth fiscal year beginning after a base fiscal year, 15 percent of the total excess disaster and emergency spending occurring in that base fiscal year. (vii) For the ninth fiscal year beginning after a base fiscal year, 17.5 percent of the total excess disaster and emergency spending occurring in that base fiscal year. (viii) For the tenth fiscal year beginning after a base fiscal year, 17.5 percent of the total excess disaster and emergency spending occurring in that base fiscal year. (2) Sequestration (A) CBO preview report On August 15 of each calendar year, the Congressional Budget Office shall issue a sequestration preview report setting forth the total amount of excess disaster and emergency spending for the fiscal year ending during the calendar year of this report. (B) OMB preview report On August 20 of each calendar year, the Office of Management and Budget shall issue a sequestration preview report setting forth the total amount of excess disaster and emergency spending for the fiscal year ending during the calendar year of this report. (C) Final report On October 31 of each calendar year, the Office of Management and Budget shall issue a final sequestration report equal to the excess, which shall be accompanied by a Presidential order detailing uniform spending reductions equal to the excess outlay amount. (D) Process The reductions shall generally follow the process set forth in sections 253 and 254, except as provided in this section. (c) No exempt programs Section 255 and section 256 shall not apply to this section or any sequestration order issued