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Letter to the Honorable John M. Spratt Jr. [i] (September 2004)

handle is hein.congrec/cbo8497 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas Holtz EFakin, Director Y U.S. Congress Washington, DC 20515 September 23, 2004 Honorable John M. Spratt Jr. Ranking Member Committee on the Budget U.S. House of Representatives Washington, DC 20515 Dear Congressman: As requested in your letter of September 14, 2004, the Congressional Budget Office has estimated the effect on its most recent baseline projections of the policy alternatives that you specified. The attached table shows CBO's estimate of revenues, outlays, the total budget deficit, and debt held by the public incorporating the following adjustments to its September 2004 baseline: 00Assume enactment of the revenue policies proposed in the President's budget for fiscal year 2005; 00Assume that the exemption amount for the alternative minimum tax (AMT) is extended at the level in effect for 2004 and, together with the AMT tax brackets, is indexed for inflation after 2004; 00For discretionary programs other than those under the jurisdiction of the Defense Appropriations Subcommittee, adopt the levels of budget authority proposed in the President's budget for 2005 through 2009 and the extrapolation of that budget authority through 2014 as presented in CBO's Analysis of the President's Budgetary Proposals for Fiscal Year 2005 (March 2004); and www.cbo.gov

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