; (ii) in paragraph (1), by inserting and spending reduction after sequestration ; (iii) by striking paragraph (2); (iv) by redesignating paragraphs (3), (4), and (5) as paragraphs (2), (3), and (4), respectively; and (v) in paragraph (2), as so redesignated— (I) in the heading, by inserting and spending reduction before reports ; (II) in the first sentence, by inserting spending reduction report after preview reports ; and (III) by striking the second sentence and inserting the following: In addition, these reports shall contain, for the budget year, for each account to be sequestered or subject to a spending reduction, as the case may be, estimates of the baseline level of sequestrable or reducible budgetary resources and resulting outlays and the amount of budgetary resources to be sequestered or reduced and resulting outlay reductions. ; (vi) in paragraph (3), as so redesignated— (I) in the first sentence, by inserting estimated total spending, estimate of potential GDP, after any breach, ; and (II) in the second sentence, by striking sequesterable and inserting sequestrable or reducible ; and (vii) in paragraph (4), as so redesignated— (I) by inserting or spending reduction after final sequestration ; (II) by inserting or spending reduction before is required ; and (III) by inserting or spending reductions, as the case may be, after sequestrations ; and (E) in subsection (g), in the first sentence, by inserting or requires a spending reduction after causes a breach ; (2) in section 257(a) ( 2 U.S.C. 907(a) ), by inserting total spending, after outlays, ; and (3) in section 258C(a)(1) ( 2 U.S.C. 907d(a)(1) )— (A) by inserting or spending reduction after sequestration each place the term appears