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Letter to the Honorable Don Young [i] (October 1999)

handle is hein.congrec/cbo8278 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Dan L. Crippen U.S. CONGRESS Director WASHINGTON, DC 20515 October 14, 1999 Honorable Don Young Chairman Committee on Resources U.S. House of Representatives Washington, DC 20515 Dear Mr. Chairman: This letter responds to your request for an assessment of the potential effect of H.R. 701 on the annual appropriation process and budgetary caps. In particular, you asked whether the bill's creation of new mandatory spending would lead to a reduction in the statutory caps on discretionary spending. Adjustments in the caps are made by the Office of Management and Budget (0MB), in consultation with the Congress. Although CBO cannot predict whether 0MB would choose to adjust the caps if H.R. 701 were enacted, we do not believe that such an adjustment is warranted. H.R. 70 1, the Conservation and Reinvestment Act of 1999, would create new direct spending by establishing or expanding mandatory programs. The bill would make 60 percent of offsetting receipts (plus interest earnings) from leases on the Outer Continental Shelf (OCS) available for spending without further appropriation action, resulting in new direct spending of about $7.5 billion over the 2000-2004 period. Currently, OCS receipts are deposited in the U.S. Treasury as miscellaneous receipts. Of such amounts, $150 million is credited to the Historic Preservation Fund and up to $900 million is credited to the Land and Water Conservation Fund annually. All such receipts are available for spending only through appropriation action. Such appropriations are subject to the statutory caps on discretionary spending and are constrained by the spending allocations assigned to subcommittees of the Appropriations Committees. Under some circumstances, 0MB may adjust the discretionary caps. Specifically, section 251 of the Balanced Budget and Emergency Deficit

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