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Letter to David Dreier 1 (June 29, 2012)

handle is hein.congrec/cbo10791 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 June 29, 2012 Honorable David Dreier Chairman Committee on Rules U.S. House of Representatives Washington, DC 20515 Dear Mr. Chairman: The Congressional Budget Office has reviewed the conference report for H.R. 4348, MAP-21, as posted on the Web site of the House Committee on Rules on June 28, 2012. CBO estimates that enacting H.R. 4348 would reduce budget deficits over the 2012-2022 period by $16.3 billion. That figure does not include effects that may be counted for budget enforcement purposes in the House of Representatives. Specifically, the House- passed budget resolution calls for counting transfers from the general fund of the Treasury to the Highway Trust Fund as new spending. 1 Major provisions of the legislation that would affect the budget (see Table 1) would: * Reauthorize, through fiscal year 2014, the surface transportation programs administered by the Federal-Aid Highway Administration, the Federal Transit Administration, the National Highway Traffic Safety Administration, the Federal Motor Carrier Safety Administration, and certain programs administered by the Pipelines and Hazardous Materials Administration; * Establish the Gulf Coast Restoration Trust Fund and require that 80 percent of any administrative and civil penalties paid to the federal government under the Clean Water Act in connection with the April 2010 explosion at the Deepwater Horizon facility in the Gulf of Mexico be deposited into that trust fund and made available to be spent; 1. Transfers totaling $18.8 billion from the general fund of the Treasury to the Highway Trust Fund would be authorized in section 40251 of the legislation. Pursuant to section 508 of H. Con. Res. 112, the Concurrent Resolution on the Budget-Fiscal Year 2013, such transfers are considered to be new budget authority and outlays for budget enforcement purposes in the House of Representatives. CBO estimates that the transfers would increase the balances attributed to the Highway Trust Fund and allow prompt liquidation of current and future obligations of the fund; however, those transfers would not increase direct spending or affect budget deficits.

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