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## 

## The Money Monitor

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

### 

### **Week of April 16-20, 2007**

![](media/image2.png){width="3.7263888888888888in"
height="1.3729166666666666in"}

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

**\$49,500,000.00\***

> H.R. 886 Wild Sky Wilderness Act \$19.0 million
>
> H.R. 609 To amend the Reclamation Wastewater and Groundwater
>
> Study and Facilities Act to authorize the Secretary of the
>
> Interior to participate in the Central Texas Water Recycling
>
> and Reuse Project \$5.0 million
>
> H.R. 865 To grant rights-of-way for electric transmission lines over
>
> certain Native allotments in the State of Alaska \$0.5 million
>
> H.R. 1677 Taxpayer Protection Act \$13.0 million
>
> H.R. 1905 District of Columbia House Voting Rights Act \$9.0 million
>
> H.R. 1257 Shareholder Vote on Executive Compensation Act \$3.0 million

TOTAL FIVE-YEAR COST OF THIS WEEK'S AUTHORIZATIONS \$49.5 million\*

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

**\$50,600,700,000.00\*\***

\* This figure does not include the authorizations contained in **H.R.
786** (To amend the Reclamation Wastewater and Groundwater Study and
Facilities Act to authorize the Secretary of the Interior to participate
in the Los Angeles County Water Supply Augmentation Demonstration
Project), **H.R. 1361** (RECOVER Act), or **H.R. 1495** (Water Resources
Development Act), all of which passed the House the week of April
16^th^. When final cost estimates become available, the RSC will update
*The Money Monitor* accordingly.

\*\* This figure does not include the authorizations contained in **H.R.
1227** (Gulf Coast Hurricane Housing Recovery Act), as it passed the
House the week of March 19^th^; or in **H.R. 1538** (Wounded Warrior
Assistance Act), as it passed the House the week of March 26^th^; or in
**H.R. 786** (To amend the Reclamation Wastewater and Groundwater Study
and Facilities Act to authorize the Secretary of the Interior to
participate in the Los Angeles County Water Supply Augmentation
Demonstration Project), **H.R. 1361** (RECOVER Act), or **H.R. 1495**
(Water Resources Development Act), all of which passed the House the
week of April 16^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}*:

**\$1,250,000.00^\#^**

> H.R. 309 To direct the Secretary of the Interior to establish a
>
> demonstration program to facilitate landscape restoration
>
> programs within certain units of the National Park System
>
> established by law to preserve and interpret resources
>
> associated with American history \$0.1 million

H.R. 865 To grant rights-of-way for electric transmission lines over

> certain Native allotments in the State of Alaska \$0.15 million

H.R. 1905 District of Columbia House Voting Rights Act \$1.0 million

TOTAL FIVE-YEAR CHANGE IN MANDATORY SPENDING \$1.25 million^\#^

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

**-\$3,307,750,000.00**

^\#^ This figure does not include the mandatory spending contained in
**H.R. 1495** (Water Resources Development Act), which passed the House
the week of April 16^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}*:

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

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

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

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

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: \$23,158,000,000.00

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

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

**\$15,000,000.00**

> H.R. 1677 Taxpayer Protection Act \$5.0 million
>
> H.R. 1906 To amend the Internal Revenue Code of 1986 to adjust
>
> the estimated tax payment safe harbor based on income
>
> for the preceding year in the case of individuals with
>
> adjusted gross income greater than \$5 million \$10.0 million

TOTAL FIVE-YEAR CHANGE IN REVENUES THIS WEEK \$15.0 million

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

**-\$3,045,000,000.00**

**[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.

**[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