[Congressional Record Volume 158, Number 12 (Thursday, January 26, 2012)]
[Senate]
[Pages S120-S121]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       BUDGET SCOREKEEPING REPORT

  Mr. CONRAD. Mr. President, I rise to submit to the Senate a budget 
scorekeeping report. The report, which covers fiscal year 2012, was 
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.
  The report shows the effects of Congressional action through January 
20, 2012, and includes the effects of legislation enacted since passage 
of the Budget Control Act of 2011, which established allocations, 
aggregates and other levels for 2011, 2012, 2012-16, and 2012-21. The 
legislation includes: P.L. 112-29, the America Invents Act; P.L. 112-
33, the Continuing Appropriations Act, 2012; P.L. 112-40, an act to 
extend the Generalized System of Preferences, and for other purposes; 
P.L. 112-41, the United States-Korea Free Trade Agreement 
Implementation Act; P.L. 112-42, the United States-Colombia Trade 
Promotion Agreement Implementation Act; P.L. 112-43, the United States-
Panama Trade Promotion Agreement Implementation Act; P.L. 112-55, the 
Consolidated and Further Continuing Appropriations Act, 2012; P.L. 112-
56, an act to amend the Internal Revenue Code of 1986 to repeal the 
imposition of 3 percent withholding, and for other purposes; P.L. 112-
74, the Consolidated Appropriations Act, 2012; P.L. 112-77, the 
Disaster Relief Appropriations Act, 2012; P.L. 112-78, the Temporary 
Payroll Tax Cut Continuation Act, 2012; and P.L. 112-80, an act to 
amend title 39, U.S.C., to extend the authority of the United States 
Postal Service to issue a semipostal to raise funds for breast cancer 
research.
  The estimates of budget authority, outlays, and revenues are 
consistent with the technical and economic assumptions of Section 106 
of the Budget Control Act of 2011 and CBO's March 2011 baseline.
  The estimates show that for fiscal year 2012, spending is $27.5 
billion in budget authority and $20 billion in outlays above the levels 
provided pursuant to the Budget Control Act, while revenues are $0.9 
billion below the levels provided pursuant to the Budget Control Act. 
The overage in spending is the result of P.L. 112-78, the Temporary 
Payroll Tax Cut Continuation Act of 2012, which was passed at the end 
of last session. While that legislation was fully paid for over 10 
years, it increased spending in 2012. Finally, the estimates show that, 
in total, there has been no net change for Social Security.
  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:

                                                    U.S. Congress,


                                  Congressional Budget Office,

                                 Washington, DC, January 25, 2012.
     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 2012 budget and is 
     current through January 20, 2012. 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 
     section 106 of the Budget Control Act of 2011 (Public Law 
     112-25).
       This is CBO's first current level report for fiscal year 
     2012.
           Sincerely,
                                             Douglas W. Elmendorf,
                                                         Director.
       Enclosure.

   TABLE 1. SENATE CURRENT LEVEL REPORT FOR SPENDING AND REVENUES FOR
                FISCAL YEAR 2012, AS OF JANUARY 20, 2012
                        [In billions of dollars]
------------------------------------------------------------------------
                                                               Current
                                      Budget      Current    level over/
                                    aggregates     level      under (-)
                                                              aggregates
------------------------------------------------------------------------
            ON-BUDGET
 
Budget Authority.................      2,985.7      3,013.2         27.5
Outlays..........................      3,046.9      3,066.9         20.0
Revenues.........................      1,890.9      1,890.0         -0.9
            OFF-BUDGET
 
Social Security Outlays \1\......        574.0        555.1        -18.9
Social Security Revenues.........        666.8        647.8        -18.9
------------------------------------------------------------------------
\1\ Excludes administrative expenses of the Social Security
  Administration, which are off-budget, but are appropriated annually.
SOURCE: Congressional Budget Office.


  TABLE 2. SUPPORTING DETAIL FOR THE SENATE CURRENT LEVEL REPORT FOR ON-BUDGET SPENDING AND REVENUES FOR FISCAL
                                        YEAR 2012, AS OF JANUARY 20, 2012
                                            [In millions of dollars]
----------------------------------------------------------------------------------------------------------------
                                                          Budget authority       Outlays            Revenues
----------------------------------------------------------------------------------------------------------------
Previously Enacted 1
    Revenues...........................................               n.a.               n.a.          1,890,921
    Permanents and other spending legislation..........          1,847,363          1,773,303               n.a.
    Appropriation legislation..........................                  0            581,418               n.a.
    Offsetting receipts................................           -708,099           -708,099               n.a.
                                                        --------------------------------------------------------
      Total, Previously enacted........................          1,139,264          1,646,622          1,890,921
                                                        ========================================================
Enacted 1st Session, 112th Congress:1
    Authorizing Legislation:
        America Invents Act (P.L. 112-29)..............                 -3                 -3                 -4
        An act to extend the Generalized System of                     -28               -240               -996
         Preferences, and for other purposes (P.L. 112-
         40)...........................................
        United States-Korea Free Trade Agreement                        53                 53                -31
         Implementation Act (P.L. 112-41)..............
        United States-Columbia Trade Promotion                         -68                -68               -137
         Agreement Implementation Act (P.L. 112-42)....
        United States-Panama Trade Promotion Agreement                   1                  1                118
         Implementation Act (P.L. 112-43)..............
        An act to amend the Internal Revenue Code of                   -39                -39                -25
         1986 to repeal the imposition of 3 percent
         withholding . . . and for other purposes (P.L.
         112-56).......................................
        Temporary Payroll Tax Cut Continuation Act,                 29,363             29,363                136
         2012 (P.L. 112-78)............................
        An act to amend title 39, U.S.C., to extend the                  0                 -1                  0
         authority of the United States Postal Service
         to issue a semipostal to raise funds for
         breast cancer research (P.L. 112-80)..........
                                                        --------------------------------------------------------
            Total, Authorizing Legislation.............             29,279             29,066               -939
                                                        ========================================================

[[Page S121]]

 
    Appropriations Acts:
        Continuing Appropriations Act, 2012 (P.L. 112-              -1,000             -1,000                  0
         33)...........................................
        Consolidated and Further Continuing                        242,076            195,617                  0
         Appropriations Act, 2012 (P.L. 112-55,
         Divisions A, B, and C)........................
        Consolidated Appropriations Act, 2012 (P.L. 112-         1,621,868          1,193,967                  0
         74)...........................................
        Disaster Relief Appropriations Act, 2012 (P.L.               8,607              1,608                  0
         112-77).......................................
                                                        --------------------------------------------------------
            Total, Appropriations Acts.................          1,871,551          1,390,192                  0
                                                        --------------------------------------------------------
                Total, Enacted 1st Session, 112th                1,900,830          1,419,258               -939
                 Congress..............................
                                                        ========================================================
Entitlements and Mandatories:
    Budget resolution estimates of appropriated                    -26,928              1,027                  0
     entitlements and other mandatory programs.........
Total Current Level 2..................................          3,013,166          3,066,907          1,889,982
Total Budget Aggregates 2, 3...........................          2,985,700          3,046,903          1,890,921
                                                        --------------------------------------------------------
Current Level Over Budget Aggregates...................             27,466             20,004               n.a.
Current Level Under Budget Aggregates..................               n.a.               n.a.               939
----------------------------------------------------------------------------------------------------------------
SOURCE: Congressional Budget Office.
Note: n.a. = not applicable; P.L. = Public Law.
1 Pursuant to section 106 of the Budget Control Act of 2011, budgetary effects of legislation enacted in the 1st
  session of the 112th Congress up to and including the Budget Control Act of 2011 (P.L. 112-25) are shown in
  the ``Previously Enacted'' section of this table. Because P.L. 112-26 (the Restoring GI Bill Fairness Act of
  2011) was cleared by Congress for the President's signature before P.L. 112-25, it is also included in that
  section.
2 For purposes of enforcing section 311 of the Congressional Budget Act in the Senate, the aggregate levels are
  provided for in section 106 of P.L. 112-25. These levels, as originally published in the Congressional Record
  of September 7, 2011, do not include budget authority, outlays, or revenues for off-budget amounts. As a
  result, current level excludes these items.
3 Periodically, the Senate Committee on the Budget revises the aggregate totals:


 
 
 
                                                          Budget authority       Outlays            Revenues
    Original Budget Aggregates.........................          2,854,385          2,987,419          1,890,921
    Revisions:
        Adjustments for disaster, emergency, and                      -396             -4,998                  0
         overseas contingency operations, and for other
         purposes (September 16, 2011).................
        Adjustments for disaster and overseas                      117,885             59,677                  0
         contingency operations funding (September 21,
         2011).........................................
        Adjustments for disaster, overseas contingency              11,896              5,108                  0
         operations, and program integrity intiatives
         (October 5, 2011).............................
        Adjustments for disaster spending (October 20,                 475                 62                  0
         2011).........................................
        Conference report for H.R. 2112 (November 16,                 -847                -79                  0
         2011).........................................
        Conference report for H.R. 2055 (December 16,                2,302               -286                  0
         2011).........................................
                                                        --------------------------------------------------------
    Revised Budget Aggregates..........................          2,985,700          3,046,903          1,890,921
 

                                                                                               

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