Mr. President, I wish to submit to the Senate a budget scorekeeping report. The report, which covers fiscal year 2022, was prepared by my staff on the Budget Committee and the Congressional Budget…
Mr. President, I wish to submit to the Senate a budget scorekeeping report. The report, which covers fiscal year 2022, was prepared by my staff on the Budget Committee and the Congressional Budget Office pursuant to section 308(b) and in aid of section 311 of the Congressional Budget Act of 1974, as amended. This information allows the Senate Budget Committee to determine if budgetary points of order lie against pending legislation.
The report shows the effect on spending and revenues of congressional action through September 15, 2022, as compared to the levels the Senate agreed to in the budget resolution for fiscal year 2022, S. Con. Res. 14. Since my last scorekeeping report on April 28, seven laws with significant budgetary effects have been signed by the President, and I have revised the levels in the budget resolution two times for legislation.
The Democratic staff of the Budget Committee prepared tables 1 and 2. Table 1 compares the mandatory spending of each authorizing committee against the enforceable allocations under section 302 of the Congressional Budget Act. It shows 10 of the 16 authorizing committees are in compliance with their allocations, either because no legislation with significant budgetary costs was enacted or the legislation qualified under the budget resolution for an allocation adjustment. Most of the spending above allowable levels is attributed to either the CHIPS Act of 2022 or the Honoring our PACT Act of 2022.
Table 2 shows the Senate pay-as-you-go--PAYGO--scorecard tallying enacted legislation with significant effects on mandatory spending and revenues. The scorecard shows a savings of $4.7 billion in 2022, a deficit of $174 billion over the 2022-2026 period, and a deficit of $528 billion over the 2022-2031 period. When compared to the allowable amounts on the PAYGO scorecard last adjusted on September 12, there is a deficit of $1.3 billion on the scorecard for 2022, $185 billion over the 2022-2026 period, and $667 billion over the 2022-2031 period.
In addition to these tables, I am submitting a letter from the Congressional Budget Office with further detail. For fiscal year 2022, current budgetary levels are within allowed amounts. Current law budget authority is $2.6 billion below the maximum allowed in the revised budget resolution, outlays are $17 billion below the allowed maximum, and revenues are $68 million above the allowed minimum. The tables also show that there has been no net change for Social Security.
I ask unanimous consent that the letter and accompanying tables from CBO be printed in the Congressional Record.
