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Letter from Douglas W. Elmendorf, Director to Ron Kind regarding federal assets that could be sold, leased, licensed, or otherwise conveyed to raise revenue 1 (March 2009)

handle is hein.congrec/cbo10354 and id is 1 raw text is: CONGRESSIONAL BUDGT OFFICE ouglas W. Emendorf, U .S. Congress ashington, DC 20515 March 6, 2009 Honorable Ron Kind U.S. House of Representatives Washington, DC 20515 Dear Congressman: As you requested, the Congressional Budget Office (CBO) has identified a number of federal assets that could be sold, leased, licensed, or otherwise conveyed to raise revenue. The federal government owns valuable natural resources as well as a vast inventory of physical assets and infrastructure used to manage those resources. CBO estimates that total net receipts from programs related to those resources and assets will total between $15 billion and $20 billion annually over the next several years. Federal mineral leases will generate nearly all of those net proceeds; the remaining amounts will come from other activities, including sales of land, surplus property, and electricity. In addition to the receipts that would be generated under current law, some opportunities exist to raise revenue by enacting new legislation requiring the sale or leasing of assets or modifying existing programs to develop federally owned resources. At your request, we have compiled the following list of options, many of which are addressed in more detail in CBO's most recent Budget Options volume (February 2007). Each of those options would require a change in current law to be implemented. Thus, budget savings could be attributed to legislation that made the appropriate changes to law. * Open the Coastal Plain of the Arctic National Wildlife Refugee (ANWR) to Leasing. The Alaska National Interest Lands Conservation Act expressly prohibits industrial activities, such as those related to the production of oil and natural gas, on ANWR' s coastal plain. This option

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