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SEC. 607. CONGRESSIONAL BUDGET OFFICE ESTIMATES. 
(a) FINDINGS.—The House finds the following: 
(1) Costs of Federal housing loans and loan 
guarantees are treated unequally in the budget. The 
Congressional Budget Office uses fair-value account-
ing to measure the costs of Fannie Mae and Freddie 
Mac, but determines the cost of other Federal hous-
ing programs on the basis of the Federal Credit Re-
form Act of 1990 (‘‘FCRA’’). 
(2) The fair-value accounting method uses dis-
count rates which incorporate the risk inherent to 
the type of liability being estimated in addition to 
Treasury discount rates of the proper maturity 
length. In contrast, cash-basis accounting solely uses 
the discount rates of the Treasury, failing to incor-
porate risks such as prepayment and default risk. 
(3) The Congressional Budget Office estimates 
that the $635 billion of loans and loan guarantees 
issued in 2013 alone would generate budgetary sav-
ings of $45 billion over their lifetime using FCRA 
accounting. However, these same loans and loan 
guarantees would have a lifetime cost of $11 billion 
under fair-value methodology. 
(4) The majority of loans and guarantees issued 
in 2013 would show deficit reduction of $9.1 billion 
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under FCRA methodology, but would increase the 
deficit by $4.7 billion using fair-value accounting. 
(b) FAIR VALUE ESTIMATES.—Upon the request of 
the chair or ranking member of the Committee on the 
Budget, any estimate prepared by the Director of the Con-
gressional Budget Office for a measure under the terms 
of title V of the Congressional Budget Act of 1974, ‘‘credit 
reform’’, as a supplement to such estimate shall, to the 
extent practicable, also provide an estimate of the current 
actual or estimated market values representing the ‘‘fair 
value’’ of assets and liabilities affected by such measure. 
(c) FAIR VALUE ESTIMATES FOR HOUSING PRO-
GRAMS.—Whenever the Director of the Congressional 
Budget Office prepares an estimate pursuant to section 
402 of the Congressional Budget Act of 1974 of the costs 
which would be incurred in carrying out any bill or joint 
resolution and if the Director determines that such bill 
or joint resolution has a cost related to a housing or resi-
dential mortgage program under the FCRA, then the Di-
rector shall also provide an estimate of the current actual 
or estimated market values representing the ‘‘fair value’’ 
of assets and liabilities affected by the provisions of such 
bill or joint resolution that result in such cost. 
(d) ENFORCEMENT.—If the Director of the Congres-
sional Budget Office provides an estimate pursuant to 
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subsection (b) or (c), the chair of the Committee on the 
Budget may use such estimate to determine compliance 
with the Congressional Budget Act of 1974 and other 
budgetary enforcement controls. 
SEC. 608. TRANSFERS FROM THE GENERAL FUND OF THE 
TREASURY TO THE HIGHWAY TRUST FUND 
THAT INCREASE PUBLIC INDEBTEDNESS. 
For purposes of the Congressional Budget Act of 
1974, the Balanced Budget and Emergency Deficit Con-
trol Act of 1985, or the rules or orders of the House of 
Representatives, a bill or joint resolution, or an amend-
ment thereto or conference report thereon, that transfers 
funds from the general fund of the Treasury to the High-
way Trust Fund shall be counted as new budget authority 
and outlays equal to the amount of the transfer in the 
fiscal year the transfer occurs. 
SEC. 609. SEPARATE ALLOCATION FOR OVERSEAS CONTIN-
GENCY OPERATIONS/GLOBAL WAR ON TER-
RORISM. 
(a) ALLOCATION.—In the House, there shall be a sep-
arate allocation to the Committee on Appropriations for 
overseas contingency operations/global war on terrorism. 
For purposes of enforcing such separate allocation under 
section 302(f) of the Congressional Budget Act of 1974, 
the ‘‘first fiscal year’’ and the ‘‘total of fiscal years’’ shall 
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be deemed to refer to fiscal year 2014. Such separate allo-
cation shall be the exclusive allocation for overseas contin-
gency operations/global war on terrorism under section 
302(a) of such Act. Section 302(c) of such Act shall not 
apply to such separate allocation. The Committee on Ap-
propriations may provide suballocations of such separate 
allocation under section 302(b) of such Act. Spending that 
counts toward the allocation established by this section 
shall be designated pursuant to section 251(b)(2)(A)(ii) 
of the Balanced Budget and Emergency Deficit Control 
Act of 1985. 
(b) ADJUSTMENT.—In the House, for purposes of 
subsection (a) for fiscal year 2014, no adjustment shall 
be made under section 314(a) of the Congressional Budget 
Act of 1974 if any adjustment would be made under sec-
tion 251(b)(2)(A)(ii) of the Balanced Budget and Emer-
gency Deficit Control Act of 1985. 
SEC. 610. EXERCISE OF RULEMAKING POWERS. 
The House adopts the provisions of this title— 
(1) as an exercise of the rulemaking power of 
the House of Representatives and as such they shall 
be considered as part of the rules of the House of 
Representatives, and these rules shall supersede 
other rules only to the extent that they are incon-
sistent with other such rules; and 
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(2) with full recognition of the constitutional 
right of the House of Representatives to change 
those rules at any time, in the same manner, and to 
the same extent as in the case of any other rule of 
the House of Representatives. 
TITLE VII—POLICY STATEMENTS 
SEC. 701. POLICY STATEMENT ON ECONOMIC GROWTH AND 
JOB CREATION. 
(a) FINDINGS.—The House finds the following: 
(1) Although the U.S. economy technically 
emerged from recession roughly four years ago, the 
recovery has felt more like a malaise than a rebound 
with the unemployment rate still elevated and real 
economic growth essentially flat in the final quarter 
of 2012. 
(2) The enormous build-up of Government debt 
in the past four years has worsened the already 
unsustainable course of Federal finances and is an 
increasing drag on the U.S. economy. 
(3) During the recession and early stages of re-
covery, the Government took a variety of measures 
to try to boost economic activity. Despite the fact 
that these stimulus measures added over $1 trillion 
to the debt, the economy continues to perform at a 
sub-par trend. 
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