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1 1 (December 28, 2006)

handle is hein.crs/crsaivl0001 and id is 1 raw text is: Order Code RS22098 Updated December 28, 2006 Deficit Impact of Reconciliation Legislation Enacted in 1990, 1993, 1997, and 2006 Robert Keith Specialist in American National Government Government and Finance Division Summary During the past 25 years, Congress has sent the President 21 measures under budget reconciliation procedures; 18 were signed into law and three were vetoed. During the 1980s and 1990s, such legislation often reflected Congress's most significant efforts to reduce the deficit through changes in revenue and mandatory spending laws. In recent years, however, reconciliation has been used mainly to reduce revenues. Most recently, in 2006, Congress and the President enacted reconciliation legislation reducing both mandatory spending and revenues, yielding a net increase in the deficit. Some Members have called for renewed deficit-reduction efforts in the 1 10th Congress using the reconciliation process. As background on past efforts in this regard, the deficit impact of several major reconciliation acts enacted in the 1990s and in 2006 is briefly summarized. Over a five-year period, according to Congressional Budget Office (and the Joint Committee on Taxation), the Omnibus Budget Reconciliation Act of 1990 reduced the deficit by an estimated $482 billion; the Omnibus Budget Reconciliation Act of 1993 reduced the deficit by an estimated $433 billion; in 1997, the Balanced Budget and the Taxpayer Relief Act together reduced the deficit by an estimated $118 billion; and in 2006, the Deficit Reduction Act and the Tax Increase Prevention and Reconciliation Act together increased the deficit by an estimated $31 billion. Reductions in mandatory spending were a significant element in the changes made in all four years. This report will be updated as developments warrant.

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