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## 

## The Money Monitor

#### **The only document that tracks the costs of bills [as they pass the House]{.underline}**

### 

### **Week of June 9-13, 2008**

![](media/image2.png){width="2.058333333333333in"
height="1.648611111111111in"}

Five-year cost of authorizations passed by the House *this
[week]{.underline}*:

**\$18,285,000,000.00\***

H.R. 5938 Former Vice President Protection Act \$8.0 million

H.R. 5524 Reconnecting Homeless Youth Act \$915.0 million

H.R. 5683 Government Accountability Office Act \$11.0 million

H.R. 6028 Merida Initiative to Combat Illicit Narcotics and

> Reduce Organized Crime Authorization Act \$1,589.0 million

H.R. 6003 Passenger Rail Investment and Improvement Act \$15,612.0
million

H.R. 1553 Conquer Childhood Cancer Act \$150.0 million

TOTAL FIVE-YEAR COST OF THIS WEEK'S AUTHORIZATIONS \$18,285.0 million\*

Five-year cost of authorizations passed by the House *this
[year]{.underline}*:

**\$311,631,250,000.00\***

\* This figure does [not]{.underline} include the authorizations
contained in **H.R. 4926** (Josh Miller HEARTS Act), which passed the
House without a cost estimate during the week of June 9^th^.

\*\* This figure does [not]{.underline} include the authorizations
contained in:

-   **H.R. 4056** (Federal Law Enforcement Officers Congressional Badge
    of Bravery Act), which passed the House without a cost estimate
    during the week of April 14^th^;

-   **H.R. 2830** (Coast Guard Authorization Act), which passed the
    House with significant amendments during the week of April 21^st^;

-   **H.R. 4332** (Financial Consumer Hotline Act) or **S. 2739**
    (Consolidated Natural Resources Act), both of which passed the House
    without cost estimates during the week of April 28^th^;

-   **H.R. 5937** (To facilitate the preservation of certain affordable
    housing dwelling units) or **H.R. 3221** (American Housing Rescue
    and Foreclosure Prevention Act), both of which passed the House
    without cost estimates during the week of May 5^th^;

-   **H.R. 6022** (Strategic Petroleum Reserve Fill Suspension and
    Consumer Protection Act) or **H.R. 2419** (Food and Energy Security
    Act), both of which passed the House without complete cost estimates
    during the week of May 12^th^;

-   **H.R. 5658** (National Defense Authorization Act for Fiscal Year
    2009), which passed the House with significant floor amendments
    during the week of May 19^th^; or

-   **H.R. 4926** (Josh Miller HEARTS Act), which passed the House
    without a cost estimate during the week of June 9^th^.

When final cost estimates become available, the RSC will update *The
Money Monitor* accordingly.

Five-year change in mandatory spending passed by the House *this
[week]{.underline}*:

**\$14,365,000,000.00**

> H.R. 5749 Emergency Extended Unemployment Compensation Act \$14,365.0
> million

TOTAL FIVE-YEAR CHANGE IN MANDATORY SPENDING \$14,365.0 million

Five-year change in mandatory spending passed by the House *this
[year]{.underline}*:

**\$87,855,600,000.00^\#^**

^\#^ This figure does [not]{.underline} include the mandatory spending
contained in:

-   **H.R. 3221** (American Housing Rescue and Foreclosure Prevention
    Act), which passed the House without a cost estimate during the week
    of May 5^th^; or

-   **H.R. 5658** (National Defense Authorization Act for Fiscal Year
    2009), which passed the House with significant floor amendments
    during the week of May 19^th^.

When final cost estimates become available, the RSC will update *The
Money Monitor* accordingly.

One-year cost of appropriations passed by the House *this
[week]{.underline}*:

######## 

######## Fiscal Year 2007: \$0.00

######## Fiscal Year 2008: \$0.00

######## Fiscal Year 2009: \$0.00

######## Fiscal Year 2010: \$0.00

One-year cost of appropriations passed by the House *this
[year]{.underline}*:

######## Fiscal Year 2007: \$0.00

######## Fiscal Year 2008: \$251,130,000.00

######## Fiscal Year 2009: \$0.00

######## Fiscal Year 2010: \$0.00

Five-year change in revenue passed by the House *this
[week]{.underline}*:

**\$558,780,000.00**

H.R. 5569 To extend for 5 years the EB-5 regional

> center pilot program \$1.78 million
>
> H.R. 5749 Emergency Extended Unemployment Compensation Act \$557.0
> million

TOTAL FIVE-YEAR CHANGE IN REVENUE THIS WEEK \$558.78 million

Five-year change in revenue passed by the House *this
[year]{.underline}*:

**-\$101,227,820,000.00\^**

\^ This figure does not include the revenue implications of:

-   **H.R. 2830** (Coast Guard Authorization Act), which passed the
    House with significant amendments during the week of April 21^st^;
    or

-   **H.R. 3221** (American Housing Rescue and Foreclosure Prevention
    Act), which passed the House without a composite cost estimate
    during the week of May 5^th^.

When final cost estimates become available, the RSC will update *The
Money Monitor* accordingly.

**[GLOSSARY OF KEY TERMS IN THE MONEY MONITOR]{.underline}**

[Authorization]{.underline}: An authorization (otherwise known as
"discretionary spending") explicitly [allows]{.underline}, but does not
actually provide, funding for a certain program, and/or directs a
federal agency to take a certain action. Authorizations express the
House's *[intent]{.underline}* to spend, however, actual funding is
provided through the annual appropriations process. Think of an
authorization like your credit card's credit limit. If it's \$10,000,
that doesn't mean you've spent \$10,000, but it does mean that you're
*allowed* to spend \$10,000. Further action by you is needed for the
money to actually be spent.

[Mandatory Spending]{.underline}: Mandatory spending (otherwise known as
"direct spending") directly provides for funding. No subsequent action
is required for the money to be spent. Think of mandatory spending like
signing up for an automatic-bill-payment program. The very act of
signing up provides for the payments from your credit card or bank
account without further action from you.

[Appropriation]{.underline}: An appropriation is an amount of money that
Congress orders to be set aside for a certain purpose, function, or
entity. The "appropriations process" commonly refers to passing the
composite bills that provide discretionary funds to various federal
agencies (see "Authorization" above). Think of an appropriation like an
individual purchase on your credit card.

[Revenue]{.underline}: Revenue refers to the amount of money that the
federal government receives in taxes, fees, sales of property, and other
sources of *incoming* funds. Think of revenue like the income from your
job, the sale of your car, etc. [Note]{.underline}: not all revenues are
taxes.

**[NOTES ON PROCEDURES & ASSUMPTIONS IN THE MONEY MONITOR]{.underline}**

[Neither the costs of conference reports nor the costs of bills that
have already been recorded under substantively similar House-passed
legislation this year are recorded here]{.underline}. "The Money
Monitor," which operates as an annual document, only accounts for the
costs of bills as they [first]{.underline} pass the House (unless the
prior bills related to such reports and bills have not come to the floor
during this calendar year or unless they contain significant cost
changes BEFORE going to the Senate).

**[In short, "The Money Monitor" primarily tracks the House's *original*
monetary intent each calendar year]{.underline}.**

##### 

Authorizations with no [net]{.underline} cost, bills that would result
in no significant [net]{.underline} change in mandatory spending or
federal revenue, and private-sector costs from federal mandates are not
reported here.

The figures for revenue changes are from **"static"** estimates by the
Joint Committee on Taxation or the Congressional Budget Office. That is,
they do not take into account the stimulative effects that certain tax
cuts and certain other revenue reductions have on the national economy.

All numbers in "The Money Monitor" are positive unless otherwise
indicated.

Most estimates are provided by the Congressional Budget Office (CBO),
though some are provided by the Joint Committee on Taxation (JCT), the
referring House committee, or RSC staff calculations.

##### 

##### Staff contact: Paul Teller, [paul.teller@mail.house.gov]{.underline}, 202-226-9718