Jim Nussle: “I am transmitting a status report on the current levels of on-budget spending and revenues for fiscal year 2005 and for…”

“I am transmitting a status report on the current levels of on-budget spending and revenues for fiscal year 2005 and for the five-year period of fiscal years 2005 through 2009. This report is necessary to facilitate the application of sections 302 and 311 of the Congressional Budget Act. This status report is current through May 23, 2005. Ther term ``current level'' refers to the amounts of spending and revenues estimated for each fiscal year based on laws enacted or awaiting the President's signature. The first table in the report compares the current levels of total budget authority, outlays, and revenues with the aggregate levels set forth by H. Con. Res. 95, the conference report on the budget resolution. This comparison is needed to enforce section 311(a) of the Budget Act, which creates a point of order against measures that would breach the budget resolution's aggregate levels. The table does not show budget authority and outlays for years after fiscal year 2005 because those years are not considered for enforcement of spending aggregates. The second table compares, by authorizing committee, the current levels of budget authority and outlays for discretionary action with the ``section 302(a)'' allocations made under H. Con. Res. 95 for fiscal year 2005 and fiscal years 2005 through 2009. ``Discretionary action'' refers to legislation enacted after the adoption of the budget resolution.…”