[Congressional Record Volume 153, Number 150 (Thursday, October 4, 2007)]
[Senate]
[Pages S12765-S12766]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       BUDGET SCOREKEEPING REPORT

  Mr. CONRAD. Mr. President, I wish to submit to the Senate the budget 
scorekeeping report for fiscal year 2007 prepared by the Congressional 
Budget Office pursuant to section 308(b) and in aid of section 311 of 
the Congressional Budget Act of 1974, as amended. This is my final 
report for fiscal year 2007.
  This report shows the effects of Congressional action through October 
1, 2007. Since my last report, dated July 26, 2007, the Congress has 
cleared and the President has signed Public Law 110-84, the Higher 
Education Access Act of 2007. The estimates of budget authority, 
outlays, and revenues used in this report are consistent with the 
technical and economic assumptions of S. Con. Res. 21, the 2008 budget 
resolution.
  The estimates show that current level spending equals the budget 
resolution for both budget authority and outlays while current level 
revenues exceed the budget resolution by $4.2 billion. I want to 
commend the Congress for not exceeding the limits set in the 2008 
budget resolution for fiscal year 2007.
  I ask unanimous consent that the letter and accompanying tables from 
CBO be printed in the Record.
  There being no objection, the material was ordered to be printed in 
the Record, as follows:

                                      Congressional Budget Office,


                                                U.S. Congress,

                                  Washington, DC, October 3, 2007.
     Hon. Kent Conrad,
     Chairman Committee on the Budget,
     U.S. Senate, Washington, DC.
       Dear Mr. Chairman: The enclosed report shows the effects of 
     Congressional action on the fiscal year 2007 budget and is 
     current through October 1, 2007. This report is submitted 
     under section 308(b) and in aid of section 311 of the 
     Congressional Budget Act, as amended.
       The estimates of budget authority, outlays, and revenues 
     are consistent with the technical and economic assumptions of 
     S. Con. Res. 21, the Concurrent Resolution on the Budget for 
     Fiscal Year 2008, as approved by the Senate and the House of 
     Representatives.
       Pursuant to section 204(a) of S. Con. Res. 21, provisions 
     designated as emergency requirements are exempt from 
     enforcement of the budget resolution. As a result, the 
     enclosed current level report excludes these amounts (see 
     footnote 1 of Table 2 of the report).
       Since my last letter, dated July 26, 2007, the Congress has 
     cleared and the President has signed the Higher Education 
     Access Act of 2007 (Public Law 110-84), which affects budget 
     authority and outlays.
       The effects of that action are detailed on Table 2.
           Sincerely,
                                                  Peter R. Orszag,
                                                         Director.

   TABLE 1.--SENATE CURRENT LEVEL REPORT FOR SPENDING AND REVENUES FOR
                 FISCAL YEAR 2007, AS OF OCTOBER 1, 2007
                        [In billions of dollars]
------------------------------------------------------------------------
                                                               Current
                                     Budget       Current    level over/
                                   Resolution    Level \2\    under (-)
                                      \1\                     resolution
------------------------------------------------------------------------
ON-BUDGET
 
  Budget Authority.............       2,250.7       2,250.7          0.0
  Outlays......................       2,263.7       2,263.7          0.0
  Revenues.....................       1,900.3       1,904.5          4.2
 
OFF-BUDGET
 
  Social Security Outlays \3\..         441.7         441.7          0.0
  Social Security Revenues.....         637.6         637.6          0.0
------------------------------------------------------------------------
Source: Congressional Budget Office.
\1\ S. Con. Res. 21, the Concurrent Resolution on the Budget for Fiscal
  Year 2008, as adjusted pursuant to section 207(f), assumed
  approximately $120.8 billion in budget authority and $31.1 billion in
  outlays from emergency supplemental appropriations. Such emergency
  amounts are exempt from the enforcement of the budget resolution.
  Since current level totals exclude the emergency requirements enacted
  in P.L. 110-28 (see footnote 1 of table 2), budget authority and
  outlay totals specified in the budget resolution have also been
  reduced (by the amounts assumed for emergency supplemental
  appropriations) for purposes of comparison.
 
\2\ Current level is the estimated effect on revenue and spending of all
  legislation that the Congress has enacted or sent to the President for
  his approval. In addition, full-year funding estimates under current
  law are included for entitlement and mandatory programs requiring
  annual appropriations, even if the appropriations have not been made.
 
\3\ Excludes administrative expenses of the Social Security
  Administration, which are off-budget, but are appropriated annually.
 


  TABLE 2.--SUPPORTING DETAIL FOR THE CURRENT LEVEL REPORT FOR ON-BUDGET SPENDING AND REVENUES FOR FISCAL YEAR
                                           2007, AS OF OCTOBER 1, 2007
                                            [In millions of dollars]
----------------------------------------------------------------------------------------------------------------
                                                          Budget Authority       Outlays            Revenues
----------------------------------------------------------------------------------------------------------------
Enacted in previous session:
  Revenues.............................................               n.a.               n.a.          1,904,706
  Permanents and other spending legislation............          1,347,423          1,297,059               n.a.
  Appropriation legislation............................          1,480,453          1,543,072               n.a.
  Offsetting receipts..................................           -571,507           -571,507               n.a.
                                                        --------------------------------------------------------
    Total, enacted in previous session.................          2,256,369          2,268,624          1,904,706
Enacted this session:
    Appropriation Acts:
  U.S. Troop Readiness, Veterans' Care, Katrina                       -794                  9               -166
   Recovery, and Iraq Accountability Appropriations
   Act, 2007 (P.L. 110-28)\1\..........................
  An act to extend the authorities of the Andean Trade                   0                  0                -24
   Preference Act until February 29, 2008 (P.L. 110-42)
  A bill to provide for the extension of Transitional                   12                  3                  0
   Medical Assistance (TMA) and the Abstinence
   Education Program through the end of fiscal year
   2007, and for other purposes (P.L. 110-48)..........
  Higher Education Access Act of 2007 (P.L. 110-84)....             -4,890             -4,890                  0
                                                        --------------------------------------------------------
    Total, enacted this session........................             -5,672             -4,878               -190
Entitlements and mandatories:
  Budget resolution estimates of appropriated                          -30                  0                  0
   entitlements and other mandatory programs...........
Total Current Level l,\2\..............................          2,250,667          2,263,746          1,904,516
Total Budget Resolution\3\.............................          2,371,470          2,294,862          1,900,340
    Adjustment to the budget resolution for emergency             -120,803            -31,116                  0
     requirements\4\...................................
    Adjusted Budget Resolution.........................          2,250,667          2,263,746          1,900,340
Current Level Over Adjusted Budget Resolution..........                  0                  0              4,176
Current Level Under Adjusted Budget Resolution.........                  0                  0               n.a.
----------------------------------------------------------------------------------------------------------------
\1\ Pursuant to section 204(a) of S. Con. Res. 21, the Concurrent Resolution on the Budget for Fiscal Year 2008,
  provisions designated as emergency requirements are exempt from enforcement of the budget resolution. The
  amounts so designated for fiscal year 2007, which are not included in the current level total, are as follows:


[[Page S12766]]


 
----------------------------------------------------------------------------------------------------------------
                                                          Budget authority       Outlays            Revenues
----------------------------------------------------------------------------------------------------------------
U.S. Troop Readiness, Veterans' Care, Katrina Recovery,            120,803             31,116               n.a.
 and Iraq Accountability Appropriations Act, 2007 (P.L.
 110-28)...............................................
----------------------------------------------------------------------------------------------------------------
\2\ Excludes administrative expenses of the Social Security Administration, which are off-budget.
\3\ Periodically, the Senate Committee on the Budget revises the totals in S. Con. Res. 21, pursuant to various
  provisions of the resolution:


 
----------------------------------------------------------------------------------------------------------------
                                                          Budget authority       Outlays            Revenues
----------------------------------------------------------------------------------------------------------------
Original Budget Resolution.............................          2,380,535          2,300,572          1,900,340
Revisions:
    To reflect the difference between the assumed and               -4,187               -823                  0
     actual nonemergency supplemental appropriations
     for fiscal year 2007 (section 207(f)).............
    For extension of the Transitional Medical                           12                  3                  0
     Assistance (TMA) program (section 320c))..........
    For the Higher Education Access Act (section 306)..             -4,890             -4,890                  0
                                                        --------------------------------------------------------
Revised Budget Resolution..............................          2,371,470          2,294,862          1,900,340
----------------------------------------------------------------------------------------------------------------
\4\ S. Con. Res. 21, as adjusted pursuant to section 207(f), assumed $120,803 million in budget authority and
  $31,116 million in outlays from emergency supplemental appropriations. Such emergency amounts are exempt from
  the enforcement of the budget resolution. Since current level totals exclude the emergency requirements
  enacted in P.L. 110-28 (see footnote 1), budget authority and outlay totals specified in the budget resolution
  have also been reduced (by the amounts assumed for emergency supplemental appropriations) for purposes of
  comparison.
Note: n.a. = not applicable; P.L. = Public Law.
Source: Congressional Budget Office.



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