Political Quotes

“Mr. President, I rise to submit to the Senate the budget scorekeeping report for February 2020. This is my fourth scorekeeping report since I filed the deemed budget resolution for fiscal year 2020 on September 9, 2019, as required by the Bipartisan Budget Act of 2019, BBA19. The report compares current-law levels of spending and revenues with the amounts agreed to in BBA19. In the Senate, this information is used to determine whether budgetary points of order lie against pending legislation. The Republican staff of the Budget Committee and the Congressional Budget Office, CBO, prepared this report pursuant to section 308(b) of the Congressional Budget Act, CBA. The information included in this report is current through February 21, 2020. Since I filed the last scorekeeping report on January 15, 2020, only one measure was enacted with significant budgetary effects. On January 29, 2020, the President signed H.R. 5430, the United States-Mexico- Canada Agreement--USMCA--Implementation Act, into law. The measure implemented the USMCA and affected both revenue and spending. According to CBO, the USMCA Implementation Act will decrease direct spending outlays by $74 million over 10 years and increase revenues by nearly $3 billion over the same period. Direct spending effects are largely attributable to the act's provisions related to the dairy industry, while revenues are expected to increase due to higher receipts from tariffs on motor vehicles and parts.…”