To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to establish discretionary spending caps for each of fiscal years 2011 through 2013.
Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend through FY2013 the spending limits (spending caps) for the discretionary categories in new budget authority and outlays.
Repeals provisions terminating Pay-As-You-Go (PAYGO) enforcement mechanisms under such Act.
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