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## 

## The Money Monitor

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

### 

### **Week of November 12-16, 2007**

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

**\$1,667,500,000.00\***

H.R. 1534 The Mercury Export Ban Act \$9.0 million

H.R. 3919 The Broadband Census of America Act \$346.0 million

H.R. 4134 To direct the Attorney General to provide grants for

> Internet safety education programs \$25.0 million

H.R. 1593 Second Chance Act \$425.0 million

H.R. 3403 The 911 Modernization and Safety Act \$1.0 million

H.R. 3461 The Safeguarding America's Families by Enhancing

> and Reorganizing New and Efficient Technologies Act \$5.0 million

H.R. 3320 Support for the Museum of the History of Polish Jews Act \$5.0
million

H.R. 3845 PROTECT Our Children Act \$496.5 million

H.R. 719 Keeping the Internet Devoid of Sexual Predators Act \$25.0
million

H.R. 3915 Mortgage Reform and Anti-Predatory Lending Act \$330.0 million

TOTAL FIVE-YEAR COST OF THIS WEEK'S AUTHORIZATIONS \$1,667.5 million\*

**[Previously Unavailable Cost Estimates from Earlier
Bills]{.underline}**

> H.R. 3221 New Direction for Energy Independence, National
>
> Security, and Consumer Protection Act \$46,283.0 million\*\*

TOTAL FIVE-YEAR COST OF EARLIER AUTHORIZATIONS \$46,283.0 million

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

**\$994,521,770,000.00\*\*\***

\* This figure does [not]{.underline} include the authorizations
contained in **H.R. 2614** (To amend the Reclamation Wastewater and
Groundwater Study and Facilities Act to authorize the Secretary of the
Interior to participate in certain water projects in California) or
**H.R. 4154** (HBCU Capital Financing Improvement Act), both of which
passed the House the week of November 12^th^.

\*\* Because H.R. 2776 was appended to H.R. 3221, H.R. 3221 above is
recorded as the total score from CBO (as the combined bill passed the
House) minus what was already recorded for H.R. 2776 (to avoid
double-counting).

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

-   **H.R. 1538** (Wounded Warrior Assistance Act), which passed the
    House the week of March 26^th^;

-   **H.R. 2669** (College Cost Reduction Act), which passed the House
    the week of July 9^th^;

-   **H.R. 1852** (Expanding American Homeownership Act), which passed
    the House the week of September 17^th^;

-   **H.R. 2553** (Public Diplomacy Resource Centers Act) or **H.R.
    2185** (To amend the Tropical Forest Conservation Act of 1998 to
    provide debt relief to developing countries that take action to
    protect forests and coral reefs and associated coastal marine
    ecosystems, to reauthorize such Act through fiscal year 2010), both
    of which passed the House the week of October 8^th^;

-   **H.R. 3866** (Small Business Programs Act), **S. 2265** (A bill to
    extend the existing provisions regarding the eligibility for
    essential air service subsidies through fiscal year 2008), or **H.R.
    3355** (Homeowners' Defense Act), all of which passed the House the
    week of November 5^th^; or

-   **H.R. 2614** (To amend the Reclamation Wastewater and Groundwater
    Study and Facilities Act to authorize the Secretary of the Interior
    to participate in certain water projects in California) or **H.R.
    4154** (HBCU Capital Financing Improvement Act), both of which
    passed the House the week of November 12^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}*:

**\$67,000,000.00**

> H.R. 2705 To amend the Compact of Free Association
>
> Amendments Act of 2003 \$6.0 million

H.R. 1534 The Mercury Export Ban Act -\$4.0 million

H.R. 3915 Mortgage Reform and Anti-Predatory Lending Act \$65.0 million

TOTAL FIVE-YEAR CHANGE IN MANDATORY SPENDING \$67.0 million

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

**\$35,967,250,000.00^\#^**

^\#^ This figure includes a slight readjustment because of the newly
available score for H.R. 3221 (see explanation in the authorizations
section above). This figure does [not]{.underline} include the mandatory
spending contained in:

-   **H.R. 2669** (College Cost Reduction Act), which passed the House
    the week of July 9^th^.

When a final cost estimate becomes available, the RSC will update *The
Money Monitor* accordingly.

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

######## 

[NOTE]{.underline}: *The Money Monitor* does not track conference
reports. See explanation below.

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

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

######## Fiscal Year 2008: \$49,998,000,000.00

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

H.R. 4156 Orderly and Responsible Iraq Redeployment

> Appropriations Act, 2008 \$49,998.0 million

TOTAL ONE-YEAR COST OF THIS WEEK'S APPROPRIATIONS \$49,998.0 million

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

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

######## Fiscal Year 2007: \$587,786,000,000.00

######## Fiscal Year 2008: \$1,026,323,000,000.00

######## Fiscal Year 2009: \$21,300,000,000.00

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

**\$72,000,000.00**

H.R. 3915 Mortgage Reform and Anti-Predatory Lending Act \$72.0 million

TOTAL FIVE-YEAR CHANGE IN REVENUE THIS WEEK \$72.0 million

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

**\$50,216,000,000.00\^**

^\^^ This figure includes a slight readjustment because of the newly
available score for H.R. 3221 (see explanation in the authorizations
section above).

**[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