[Congressional Record Volume 149, Number 86 (Thursday, June 12, 2003)]
[House]
[Pages H5354-H5355]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          REVISIONS TO THE FISCAL YEAR 2004 BUDGET RESOLUTION

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Iowa (Mr. Nussle) is recognized for 5 minutes.
  Mr. NUSSLE. Mr. Speaker, in accordance with section 507 of H. Con. 
Res. 95 and consistent with section 310 of the Congressional Budget 
Act, I submit for printing in the Congressional Record revisions to the 
fiscal year 2004 budget resolution to reflect the enactment of H.R. 2, 
the Jobs and Growth Tax Relief Reconciliation Act of 2003 (P.L. 108-
27).
  Section 201 of the budget resolution (H. Con. Res. 95) directed the 
Committee on Ways and Means to report a bill that would increase 
outlays and reduce revenue by specified amounts. The conference report 
accompanying H.R. 2 exceeded the target for outlays, but reduced 
revenue by less than the amount allowed under the revenue target.
  Since the overage in outlays was within 20 percent of the total cost 
of the bill and was offset on the revenue side, as permitted under 
section 310 of the Budget Act, the conference report was deemed to be 
in compliance with its reconciliation instructions.
  I am, therefore, adjusting the 302(a) allocation to the Committee on 
Ways and Means to

[[Page H5355]]

reflect the enacted levels of budget authority, outlays and revenue in 
the tax bill. This will hold other measures assumed in the budget 
resolution harmless for the permissible variance in budget authority 
and revenue between the budget resolution and enacted tax bill.
  Accordingly, the adjusted 302(a) allocation to the Committee on Ways 
and Means is as follows:
  Fiscal year 2003: $14,576,000,000 in new budget authority and 
$14,512,000,000 in outlays.
  Fiscal year 2004: $20,626,000,000 in new budget authority and 
$20,054,000,000 in outlays.
  The period of fiscal years 2004-2008: $24,079,000,000 in new budget 
authority and $23,876,000,000 in outlays.
  The period of fiscal years 2004-2013: $39,261,000,000 in new budget 
authority and $39,128,000,000 in outlays.
  The changes in the Ways and Means allocation cause changes in the 
budgetary aggregates. Accordingly, I also modify the budgetary 
aggregates to the following levels:
  Fiscal year 2003: $1,877,204,000 in new budget authority and 
$1,829,299,000 in outlays; $1,310,347,000 in revenues.
  Fiscal year 2004: $1,880,555,000 in new budget authority and 
$1,903,502,000 in outlays.
  The period of fiscal years 2004-2013: $19,632,020,000,000 in 
revenues.
  Questions may be directed to Dan Kowalski at 67270.

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