Political Quotes

“Mr. President, I submit to the Senate a budget scorekeeping report. The report, which covers fiscal year 2024, was prepared and submitted as a letter by the Congressional Budget Office pursuant to section 308(b) of the Congressional Budget Act of 1974. This information assists the Senate Budget Committee in determining if budgetary points of order lie against pending legislation. CBO's report shows the effect on spending and revenues of congressional action through April 15, 2024. Between CBO's last report on December 13, 2023, and April 15, 2024, Congress passed eight pieces of legislation with effects on direct spending or revenue. These include two appropriations bills passed in March, P.L. 118-42 and P.L. 118-47, that completed the fiscal year 2024 appropriations cycle in line with the bipartisan agreement enacted last summer. CBO's report included three tables, tables 1, 2, and 3. Tables 1 and 2 show that current budgetary levels are within allowable amounts for budget authority and outlays. The allowable levels include an adjustment for the Senate-passed national security supplemental, P.L. 118-50, which had not yet been enacted into law when the table was prepared. These tables also show that revenue is below the allowable amount, due to the rescissions of IRS mandatory funding in the last appropriation bill, P.L. 118-47, which reduces revenue and increases the deficit.…”