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## 

## The Money Monitor

#### ...keeping track of how Washington wants to spend your money

### 

### **Week of October 24-28, 2005**

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Net five-year cost of House authorizations passed by the House *this
week*:

**-\$14,500,000.00**

> H.R. 1461 Federal Housing Finance Reform Act -\$17.0 million
>
> S. 172 A bill to amend the Federal Food, Drug, and Cosmetic
>
> Act to provide for the regulation of all contact lenses
>
> as medical devices \$2.5 million

TOTAL FIVE-YEAR COST OF THIS WEEK'S AUTHORIZATIONS -\$14.5 million

*Year-to-date total* of net five-year costs of House-passed
authorizations:

**\$938,611,220,000.00^\#^**

^\#^Excludes the authorizations contained in the Energy Policy Act
(**H.R. 6**), which passed the House on April 21, 2005; in the
[amendments]{.underline} to the Water Resources Development Act (**H.R.
2864**), which passed on the House floor on July 14, 2005; and in the
Rural Housing Hurricane Relief Act (**H.R. 3895**), which passed the
House on October 6, 2005. CBO is not expected to do cost estimates for
these items.

Net five-year change in House-passed mandatory spending *this week*:

**\$1,630,000,000.00**

> H.R. 1461 Federal Housing Finance Reform Act \$1,630.0 million

TOTAL FIVE-YEAR CHANGE IN MANDATORY SPENDING \$1,630.0 million

*Year-to-date* net five-year change in House-passed mandatory spending:

**-\$327,500,000.00**

Net one-year cost of appropriations passed by the House *this week*:

######## Fiscal Year 2004: \$0.00

######## Fiscal Year 2005: \$0.00

######## Fiscal Year 2006: \$0.00

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

Note: The Money Monitor does not track conference reports.

*Year-to-date total* of net one-year costs of appropriations passed
during the 1^st^ Session of the 109^th^ Congress:

######## Fiscal Year 2004: \$0.00

######## Fiscal Year 2005: \$144,645,000,000.00

**Fiscal Year 2006: \$887,426,000,000.00**

######## Fiscal Year 2007: \$23,158,000,000.00

Net five-year revenue change by House bills passed *this week*:

**\$2,019,500,000.00**

> H.R. 1461 Federal Housing Finance Reform Act \$2,020.0 million
>
> H.R. 3945 Hurricane Katrina Financial Services Relief Act -\$0.5
> million

TOTAL FIVE-YEAR CHANGE IN REVENUES THIS WEEK \$2,019.5 million

*Year-to-date* net five-year revenue change by House-passed bills:

**-\$16,751,500,000.00**

An authorization (otherwise known as "discretionary spending")
explicitly allows funding for a certain program and / or directs a
federal agency to take a certain action. Authorizations express the
House\'s *intent* to spend, however, actual funding is provided through
the annual appropriations process. **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.**

Mandatory spending directly establishes an appropriation. No subsequent
action is required for the money to be spent. 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 tax cuts and certain other
revenue reductions have on the national economy.

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

**[Neither the costs of conference reports nor the costs of bills that
have already been recorded under substantively similar House-passed
legislation are recorded here]{.underline}. "The Money Monitor" 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}.**

##### 

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

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