Budgetary Revisions
Floor Speech
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Mr. SANDERS. Mr. President, S. Con. Res. 14, the fiscal year 2022 congressional budget resolution, included authority in section 4009 to allow the chairman of the Committee on the Budget to adjust budget aggregates and committee allocations after the enactment of bipartisan infrastructure legislation. Similarly, the reserve fund in section 3003 allows the chairman to revise these levels as well as make adjustments to the pay-as-you-go ledger for legislation that would not increase the deficit over the period of 2022 to 2031.
H.R. 3684, the Infrastructure Investment and Jobs Act was enacted on November 15, 2021, meets the conditions of being bipartisan infrastructure legislation. As a result, I am revising the budget spending aggregates and the allocation to the Committee on Appropriations by $3,230 million in outlays resulting from the increase in contract authority included in that bill.
Furthermore, the combined budgetary impact of the direct spending and revenue provisions in that bill reduce the deficit over 10 years. The Congressional Budget Office estimates that H.R. 3684 will decrease nonemergency mandatory outlays by $3.7 billion in 2022 and by almost $90 billion over the period 2022 through 2031. Revenues will increase by more than $8 billion in 2022 and more than $50 billion over the period 2022 through 2031. As such, I am revising the spending and revenue aggregates and the allocation to the Committee on Environment and Public Works by the relevant amounts. I am also revising the Senate pay-as-you-go scorecard. The Infrastructure Investment and Jobs Act also increased discretionary spending; that spending is designated as an emergency and is therefore excluded from enforceable budgetary spending levels and committee allocations.
Finally, section 4004 of the budget resolution allows the chairman to adjust budgetary levels for legislation containing disaster relief funding. I am increasing the outlay allocation to the Committee on Appropriations by $89 million as a result of passage of H.R. 5305, the Extending Government Funding and Delivering Emergency Assistance Act, which was enacted on September 30, 2021.
Con. Res. 14, the Concurrent Resolution on the Budget for Fiscal Year 2022] [$ in billions] ------------------------------------------------------------------------ Balances ------------------------------------------------------------------------ Current Balances: Fiscal Year 2022....................................... 7.144 Fiscal Years 2022-2026................................. 7.079 Fiscal Years 2022-2031................................. 0 Revisions: Fiscal Year 2022....................................... -15.506 Fiscal Years 2022-2026................................. -82.969 Fiscal Years 2022-2031................................. -138.704 Revised Balances: Fiscal Year 2022....................................... -8.362 Fiscal Years 2022-2026................................. -75.890 Fiscal Years 2022-2031................................. -138.704 ------------------------------------------------------------------------ Note: Adjustment reflects the direct spending and revenue implications
of H.R. 3684, the Infrastructure Investment and Jobs Act. Pursuant to
section 3110 of S. Con. Res. 11 (114th Congress), the FY 2016 budget
resolution, the adjustment excludes $21 billion over ten years of
increased enterprise guarantee fees.
REVISIONS TO BUDGET AGGREGATES--BUDGET AUTHORITY AND OUTLAYS (Pursuant to Sections 4004 & 4009 of S. Con. Res. 14) ($ in billions) ------------------------------------------------------------------------ 2022 ------------------------------------------------------------------------ Current Spending Aggregates: Budget Authority....................................... 4,145.465 Outlays................................................ 4,504.246 Adjustment: Budget Authority....................................... -2.226 Outlays................................................ -3.692 Revised Aggregates: Budget Authority....................................... 4,143.239 Outlays................................................ 4,500.554 ------------------------------------------------------------------------ Note: The adjustment represents an adjustment pursuant to Sec. 4009 of
S. Con. Res 14 for a bipartisan infrastructure agreement that reduced
direct spending budget authority and outlays but increased
discretionary outlays, as well as an adjustment pursuant to Sec. 4004
for additional disaster-related outlays from H.R. 5305. Pursuant to
section 3110 of S. Con Res. 11 (114th Congress), the FY 2016 budget
resolution, the adjustment excludes $2.9 billion of increased
enterprise guarantee fees. REVISIONS TO BUDGET REVENUE AGGREGATES
(Pursuant to Sections 3003 & 4009 of S. Con. Res. 14, the Concurrent Resolution on the Budget for Fiscal Year 2022) ($ in billions) ------------------------------------------------------------------------ 2022 2022-2026 2026-2031 ------------------------------------------------------------------------ Current Revenue Aggregates....... 3,401.380 17,795.693 38,957.446 Adjustments...................... 8.495 21.319 50.085 Revised Revenue Aggregates....... 3,409.875 17,817.012 39,007.531 ------------------------------------------------------------------------ Note: Adjustment includes additional revenue enacted in H.R. 3684, the
Infrastructure Investment and Jobs Act. REVISIONS TO ALLOCATION TO SENATE COMMITTEES
(Pursuant to Sections 3003 & 4009 of S. Con. Res. 14, the Concurrent Resolution on the Budget for Fiscal Year 2022) ($ in billions) ------------------------------------------------------------------------ 2022 2022-2026 2026-2031 ------------------------------------------------------------------------ Environment and Public Works: Budget Authority............. 48.743 243.930 492.473 Outlays...................... 14.326 39.006 63.219 Revisions Budget Authority............. -2.226 14.580 72.681 Outlays...................... -7.011 -61.650 -88.619 Revised Environment & Public Works: Budget Authority............. 46.517 258.510 565.154 Outlays...................... 7.315 -22.644 -25.400 ------------------------------------------------------------------------ Note: Adjustment includes additional direct spending budget authority
and net outlay reductions enacted in H.R. 3684, the Infrastructure
Investment and Jobs Act. Pursuant to section 3110 of S. Con. Res. 11
(114th Congress), the FY 2016 budget resolution, the adjustment
excludes $21 billion over ten years of increased enterprise guarantee
fees. REVISIONS TO THE OUTLAY ALLOCATIONS TO THE COMMITTEE ON APPROPRIATIONS FOR FISCAL YEAR 2022 (Pursuant to Sections 4004 & 4009 of S. Con. Res 14) ($ in billions) ------------------------------------------------------------------------ Current Revised Allocation Adjustments Allocation ------------------------------------------------------------------------ General Purpose Discretionary 1,676.447 3.319 1,679.766 Outlays......................... ------------------------------------------------------------------------ Note: The adjustment for outlays represents an adjustment pursuant to
Sec. 4009 of S. Con. Res. 14 for a bipartisan infrastructure agreement
for $3,230 million of additional outlays from the increased level of
contract authority in H.R. 3684 and an adjustment pursuant to Sec.
4004 for $89 million of additional disaster-related outlays from H.R.
5305.
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