To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to cap sequestration at $50,000,000,000 for fiscal year 1991 and $30,000,000,000 for each of fiscal years 1992 through 1995.

Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to set the unachieved deficit reduction for sequestration purposes at $50,000,000,000 for FY 1991 and $30,000,000,000 for each of FY 1992 through 1995 (thus capping the amount by which budget outlays must be reduced for such fiscal year).

Extends provisions relating to sequestration powers from September 30, 1993, until September 30, 1995.