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    Fill OMB FINAL SEQUESTRATION REPORT TO THE PRESIDENT AND CONGRESS FOR FISCAL YEAR 1994 THE PRESIDENT OF OF OFFICE THE UNITED OFFICE BUDGET OF AND 03 DECEMBER 10, 1993 TABLE OF CONTENTS Page Transmittal Letter iii I. Introduction 1 II. Discretionary Sequestration Report 1 III. Pay-As-You-Go Sequestration Report 8 IV. Deficit Sequestration Report 13 GENERAL NOTES 1. All years referred to are fiscal years un- less otherwise noted. 2. Details in the tables and text may not add to totals due to rounding. i SENTS SECUTIVE UNITED OFFICE OF PRESIUENT EXECUTIVE OFFICE OF THE PRESIDENT OFFICE OF MANAGEMENT AND BUDGET WASHINGTON, D.C. 20503 THE DIRECTOR December 10, 1993 The President The White House Washington, DC 20500 Dear Mr. President: Enclosed please find the OMB Final Sequestration Report to the President and Congress for Fiscal Year 1994. It has been prepared in accordance with the requirements of the Balanced Budget and Emergency Deficit Control Act of 1985 (Public Law 99- 177), as amended by the Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 (Public Law 100-119), the Budget Enforcement Act of 1990 (Public Law 101-508), and the Omnibus Budget Reconciliation Act of 1993 (Public Law 103-66). As required by law, the report includes: - the final estimates of the discretionary spending limits; - a summary of legislation enacted as of December 3, affecting direct spending and receipts; - calculations of the maximum deficit amount; and - comparisons with the estimates provided by the Director of the Congressional Budget Office in his report. The report finds that no sequestration is required. Sincerely, Leon E. Panetta Director Enclosure Identical Letters Sent to Honorable Albert Gore, Jr. and Honorable Thomas S. Foley I. INTRODUCTION The Budget Enforcement Act of 1990 (BEA) extended through 1998 by the Omnibus Budg- was enacted into law as part of the Omnibus et Reconciliation Act of 1993 (OBRA93), which Budget Reconciliation Act of 1990. Through became law on August 10, 1993. The BEA fiscal year 1995, the Act established annual requires OMB to issue a final sequestration limits on discretionary spending, a pay-as- report within fifteen days of the end of you-go requirement that subsequent legislation the Congressional session. This report fulfills affecting direct spending or receipts not in- this requirement for legislation enacted during crease the deficit, and maximum deficit the first session of the 103rd Congress. amounts. Compliance with these three con- The estimates in this report reflect legislation straints was enforced by across-the-board se- enacted and signed into law by the President questration (reduction) of non-exempt spend- through December 3, 1993. As required by ing. the BEA, the estimates use the same economic and technical assumptions contained in the The BEA requirements for discretionary President's FY 1994 Budget, which was trans- spending and pay-as-you-go legislation were mitted to Congress on April 8, 1993. II. DISCRETIONARY SEQUESTRATION REPORT Discretionary programs are, in general, actual and projected inflation and for changes those that have their funding levels estab- in concepts and definitions. These adjustments lished annually through the appropriations were included in the sequestration preview process. The scorekeeping guidelines accom- report included in the President's FY 1994 panying the BEA identify accounts with discre- Budget. tionary resources. The BEA limited budget Section 251(b)(2) of the BEA authorizes authority and outlays available for three additional adjustments. Tables 2 and 3 include categories of discretionary programs from 1991 those adjustments that can be made now through 1993: defense, international, and do- due to legislation enacted during the first mestic. Appropriations that caused either the session of the 103rd Congress. The section budget authority or outlay limits-also known 251(b)(2) adjustments include: as caps-for any category to be exceeded would have triggered a sequester to eliminate Internal Revenue Service (IRS) funding.- any such breach in that category. Funding for the IRS compliance initiative above the Congressional Budget Office For 1994 through 1998, there are no sepa- (CBO) baseline levels estimated in June rate categories for discretionary programs, 1990. Adjustments are limited to the budg- and the caps apply to total discretionary et authority and outlay amounts specified budget authority and outlays. Table 1 is in the law. a summary of all changes to the 1991 through 1995 caps originally enacted in the Emergency appropriations.-Funding for BEA. amount that the President designates as "emergnacy requirements" and that the Adjustments to the discretionary lim- Congres. so designates in statute. Since its.-Tables 2 and 3 show the impact on the April 8th preview report, an additional the discretionary limits of various adjustments $5.4 billion has become available for permitted by section 251(b) of the BEA. "emergency requirements," (mostly to pro- Adjustments authorized under section vide assistance in response to the Midwest 251(b)(1) include those for differences between flood). 1 2 Table 1. SUMMARY OF CHANGES TO DISCRETIONARY SPENDING LIMITS (In billions of dollars) 1991 1992 1993 1994 1995 TOTAL DISCRETIONARY Statutory Caps as Set in OBRA 1990 BA 491.7 503.4 511.5 510.8 517.7 OL 514.4 524.9 534.0 534.8 540.8 Adjustments for Allowances BA 3.6 2.9 2.9 OL 2.6 3.1 2.7 3.4 1.3 Adjustments for IRS Funding, IMF, and Debt Forgiveness BA 0.2 0.2 12.5 0.2 OL 0.3 0.3 0.3 0.4 0.2 Adjustments for Changes in Inflation BA -0.5 -5.1 -9.5 -9.8 OL -0.3 -0.5 -5.8 -7.9 Adjustments for Redefinition of Concepts (credit reform, etc.), and credit reestimates BA 7.7 8.7 8.6 9.5 OL 1.1 2.9 2.8 3.5 Adjustments for Emergency Requirements BA 0.9 8.3 4.2 0.2 OL 1.1 1.8 5.1 4.2 1.5 Subtotal, Adjustments Excluding Desert Shield/Desert Storm BA 1.1 19.3 23.1 2.4 -0.3 OL 3.9 5.9 8.5 5.0 -1.4 Adjustments for Desert Shield/Desert Storm BA 44.2 14.0 0.6 OL 33.3 14.9 7.5 2.8 1.0 Final Sequestration Report Discretionary Spending Limits BA 537.1 536.6 535.2 513.2 517.4 OL 551.6 545.7 550.1 542.6 540.5 . Less than $50 million. Table 2. DISCRETIONARY SPENDING LIMITS (In millions of dollars) 1991 1992 1993 1994 1995 DOMESTIC Domestic limits, October 23, 1992 Final Sequestration Report BA 182,935 209,169 206,325 OL 200,470 215,562 229,916 Adjustments included in the April 1993 Preview Report: 1992 Inflation BA -1,823 -1,881 OL -791 -1,515 Reestimates of credit reform subsidies BA -132 -135 OL -108 -120 Statutory and other shifts between categories BA -1,047 -206 OL -821 -23 Emergency appropriations (release of contingencies) BA OL 48 56 Subtotal, domestic adjustments for the Preview Report BA -3,002 -2,222 OL -1,672 -1,602 Preview Report domestic limits BA 182,935 209,169 206,325 OL 200,470 215,562 229,916 Adjustments for the August Update Report: Domestic emergencies: Supplemental Appropriations Act of 1993 (PL 103-50) BA OL -14 8 2 3 Table 2. DISCRETIONARY SPENDING LIMITS-Continued (In millions of dollars) 1991 1992 1993 1994 1995 Emergency Supplemental Appropriations for Relief From the Major, Widespread Flooding in the Midwest Act of 1993 (PL 103-75) (Discretionary programs)¹ BA 3,788 100 OL 571 2,452 759 Emergency Supplemental Appropriations for Relief From the Major, Widespread Flooding in the Midwest Act of 1993 (PL 103-75) (Mandatory programs) 1 BA 1,000 OL 1,000 Statutory shift between categories (CCC) 1 BA -1,000 OL -1,000 Emergency appropriations (release of contingencies) BA 402 OL 14 371 15 Special outlay allowance used BA OL 174 Subtotal, domestic adjustments required for Update Report BA 4,190 100 OL 745 2,831 776 Update Report domestic limits BA 182,935 209,169 210,515 OL 200,470 215,562 230,661 Adjustments for the Final Sequestration Report: IRS funding BA 187 OL 183 4 Special allowances BA 1,609 OL 853 499 Emergency appropriations (release of contingencies) BA 90 OL 78 13 Subtotal, Final Sequestration Report domestic adjust- ments BA 1,886 OL 1,114 516 Final Sequestration Report domestic limits BA 182,935 209,169 210,515 OL 200,470 215,562 230,661 INTERNATIONAL International limits, October 23, 1992 Final Sequestra- tion Report BA 21,245 22,191 35,081 OL 20,296 19,840 20,601 Adjustments included in the April 1993 Preview Report: 1992 Inflation BA -366 -375 OL -105 -151 Reestimates of credit reform subsidies BA 2 2 OL 36 32 Subtotal, international adjustments required for Preview Report BA -364 -373 OL -69 -119 Preview Report international limits BA 21,245 22,191 35,081 OL 20,296 19,840 20,601 Adjustments for the August Update Report BA OL Update Report international limits BA 21,245 22,191 35,081 OL 20,296 19,840 20,601 Adjustments for the Final Sequestration Report: Special allowances BA 1,271 OL 585 254 Subtotal, Final Sequestration Report international adjustments BA 1,271 4 Table 2. DISCRETIONARY SPENDING LIMITS-Continued (In millions of dollars) 1991 1992 1993 1994 1995 OL 585 254 Final Sequestration Report international limits BA 21,245 22,191 35,081 OL 20,296 19,840 20,601 DEFENSE Defense limits, October 23, 1992 Final Sequestration Report BA 332,918 305,288 289,651 OL 330,802 310,299 298,861 Adjustments included in the April 1993 Preview Report: 1992 Inflation BA -2,026 -2,078 OL -881 -1,512 Desert Shield/Desert Storm outlay reestimates BA OL -1 -100 Subtotal, defense adjustments required for Preview Report BA -2,026 -2,078 OL -882 -1,612 Preview Report defense limits BA 332,918 305,288 289,651 OL 330,802 310,299 298,861 Adjustments for the August Update Report BA OL Update Report defense limits BA 332,918 305,288 289,651 OL 330,802 310,299 298,861 Adjustments for the Final Sequestration Report BA OL Final Sequestration Report defense limits BA 332,918 305,288 289,651 OL 330,802 310,299 298,861 TOTAL DISCRETIONARY Total discretionary limits, October 23, 1992 Final Sequestration Report BA 537,098 536,648 531,056 515,312 522,071 OL 551,568 545,701 549,378 539,877 542,285 Adjustments included in the April 1993 Preview Report BA -5,392 -4,673 OL -2,623 -3,333 Preview Report total discretionary limits 1 BA 537,098 536,648 531,056 509,920 517,398 OL 551,568 545,701 549,378 537,254 538,952 Adjustments for the August Update Report BA 4,190 100 OL 745 2,831 776 Update Report total discretionary limits¹ BA 537,098 536,648 535,247 510,020 517,398 OL 551,568 545,701 550,123 540,085 539,728 Adjustments for the Final Sequestration Report: Total of adjustments shown above BA 3,157 OL 1,699 770 Special outlay allowance for technical estimating dif- ferences BA OL 822 Final Sequestration Report total discretionary limits BA 537,098 536,648 535,247 513,177 517,398 OL 551,568 545,701 550,123 542,606 540,498 ¹The August 20, 1993 OMB Sequestration Update Report double-counted Emergency Commodity Credit Corporation outlays. This report corrects the double-count. 5 Table 3. EXTENSION OF DISCRETIONARY SPENDING LIMITS As Set by the Omnibus Budget Reconciliation Act of 1993 (In millions of dollars) 1994 1995 1996 1997 1998 Preview Report Discretionary Limits (as of April 1993) BA 509,920 517,398 OL 537,254 538,952 Discretionary limits set by the Omnibus Budget Rec- onciliation Act of 1993 BA 519,142 528,079 530,639 OL 547,263 547,346 547,870 Adjustments: Emergency Supplemental Appropriations: Supplemental Appropriations Act of 1993 (Public Law 103-50) BA OL 8 2 Relief from the Major, Widespread Flooding in the Midwest Act of 1993 (Public Law 103-75) BA 100 OL 2,452 759 73 22 5 Emergency appropriations (release of contingencies) BA 90 OL 449 28 1 IRS compliance initiatives BA 187 OL 183 4 Special allowance for discretionary new budget authority BA 2,880 OL 1,438 753 396 134 Special outlay allowance for technical estimating dif- ferences BA OL 822 Final Sequestration Report Discretionary Spending Limits BA 513,177 517,398 519,142 528,079 530,639 OL 542,606 540,498 547,733 547,502 547,875 The BEA also provides special allowances Status of 1993 discretionary appropria- for budget authority and outlays. Two separate tions.-Table 4 summarizes the status of budget authority allowances may be provided enacted 1993 discretionary appropriations rel- for 1994 and 1995, together with an adjust- ative to the discretionary caps. In the domes- ment for outlays associated with one of tic, international, and defense categories, en- the allowances, calculated using spendout acted budget authority and outlays are within rates contained in the BEA. For 1994 through the caps. 1998, the BEA also provides for an additional Status of 1994 discretionary appropria- budget authority allowance equal to 0.1 per- tions.-Table 5 shows OMB scoring of 1994 cent of the adjusted limit on total discretionary appropriations bills. Total discretionary out- budget authority for the budget year. lays exceed the cap for 1994 by $822 million. Another adjustment is the special outlay However, the excess is less than the available allowance. The dollar amounts of the special special outlay allowance of $3.9 billion. outlay allowance for 1991 through 1995 are Comparison between OMB and CBO specified in the BEA. The annual allowances discretionary limits.-Section 254(d)(5) of for 1991 through 1993 are $2.5 billion for the BEA requires an explanation of differences defense, $1.5 billion for international, and between OMB and CBO estimates for the $2.5 billion for domestic. The allowances discretionary spending limits. CBO uses the for 1994 and 1995 are $6.5 billion for total discretionary limits from OMB's August 20th discretionary. The outlay allowances through sequestration update report as a starting 1995 are reduced by the outlays associated point for the adjustments made in its final with the budget authority allowances. For sequestration report. There are no differences 1996 through 1998, the outlay allowances between OMB and CBO limits for 1993. are equal to 0.5 percent of the adjusted Table 6 compares OMB and CBO limits discretionary outlay limit. for 1994 through 1998. 6 Emergency funding that is contingent on 1994 budget authority caps by $755 million the President designating the funds as "emer- for three contingent emergency appropriations gency requirements" is reported differently contained in 1994 appropriations bills. OMB by OMB and CBO. CBO scores budget author- scores budget authority for only those contin- ity for contingent appropriations in the fiscal gent appropriations officially requested for year for which it is appropriated. In its release by the President and designated by final sequestration report, CBO adjusts the the President as emergency requirements. Table 4. STATUS OF 1993 DISCRETIONARY APPROPRIATIONS (In millions of dollars) BA Outlays DOMESTIC Adjusted discretionary spending limits 1 210,515 230,661 Total enacted 210,292 230,661 Appropriations over/under (-) spending limits - 223 INTERNATIONAL Adjusted discretionary spending limits 1 35,081 20,601 Total enacted 33,820 20,235 Appropriations over/under (-) spending limits -1,261 -366 DEFENSE Adjusted discretionary spending limits 1 289,651 298,861 Total enacted 276,966 290,423 Appropriations over/under (-) spending limits -12,685 -8,438 TOTAL DISCRETIONARY Adjusted discretionary spending¹ 535,247 550,123 Total enacted 521,078 541,319 Appropriations over/under (-) spending limits - 14,169 - -8,804 1 Spending limits adjusted pursuant to section 251 of the BEA, including $1,837 million for the use of the special outlay allowance under domestic discretionary. 7 Table 5. STATUS OF 1994 APPROPRIATIONS (In millions of dollars) BA Outlays TOTAL DISCRETIONARY Agriculture, Rural Development¹ 14,652 15,863 Commerce, Justice, State and the Judiciary 22,843 23,025 Defense 240,721 254,173 District of Columbia 700 698 Energy and Water Development 22,033 21,996 Foreign Operations 12,939 13,770 Interior and Related Agencies 13,718 13,829 Labor, HHS, Education 2 67,425 68,542 Legislative Branch 2,270 2,304 Military Construction 10,065 8,874 Transportation 13,278 35,339 Treasury, Postal Service and General Government³ 11,626 11,998 Veterans Affairs, HUD, Independent Agencies 68,535 72,197 Total discretionary 500,805 542,606 Adjusted discretionary spending limits before special outlay allowance 513,177 541,784 Enacted appropriations over/under (-) limits before special outlay allowance -12,372 -822 Special outlay allowance for technical estimating differences used 822 Enacted appropriations over/under (-) limits after special outlay allowance -12,372 1 Includes $25 million in budget authority and $12.5 million in outlays for Soil Conservation Service contingent appropriations released on November 17, 1993. 2 Includes $65 million in budget authority and outlays for Public Health and Social Services Emergency Fund contingent appropriations released on October 12, 1993. 3 Includes $187 million in budget authority and $183 million in outlays for IRS funding. 4 Outlays estimated for the VA/HUD bill are $28 million less than estimated in the November 1, 1993 five-day-after report for this bill. The change corrects an error in computing the total for the bill. Table 6. COMPARISON OF OMB AND CBO DISCRETIONARY SPENDING LIMITS (In millions of dollars) 1994 1995 1996 1997 1998 CBO limits: Budget authority 513,932 517,398 519,142 528,079 530,639 Outlays 542,798 540,653 547,771 547,513 547,875 OMB limits: Budget authority 513,177 517,398 519,142 528,079 530,639 Outlays 542,606 540,498 547,733 547,502 547,875 Difference: Budget authority 755 - - - - Outlays 192 155 38 11 - 8 III. PAY-AS-YOU-GO SEQUESTRATION REPORT Pay-as-you-go enforcement procedures apply President's budget. Each year in its final to direct spending and receipts legislation. sequestration report, OMB adds the estimates Direct spending is defined as entitlement in all pay-as-you-go reports together to deter- authority, the food stamp program, and budget mine the need for a sequester. If, in total, authority provided by laws other than appro- the combined deficits for the budget year priations acts. The BEA enforcement proce- and the preceding fiscal year have been dures specify that receipts or direct spending increased by pay-as-you-go legislation, that legislation should not increase the deficit. increase must be offset by sequestration. If it does, it will trigger a sequester if not fully offset. Sequestration of direct spend- Pay-as-you-go estimates for FY 1994.- ing programs would occur 15 days after As Table 7 shows, pay-as-you-go legislation Congress adjourns to end a session. Social enacted in calendar years 1991 and 1992 Security, the Postal Service, legislation specifi- reduced the combined 1993 and 1994 deficits cally designated as "emergency requirements" by $3.6 billion. The Omnibus Budget Reconcili- according to 252(e) of the BEA, and legislation ation Act of 1993 reduced the deficit by providing full funding of the Government's $46.8 billion in 1994 and by over a half deposit insurance guarantee commitment, are a trillion dollars for 1994-1998. However not subject to pay-as-you-go enforcement. the Act also specified that none of the Within five days after the enactment of savings would be included in the pay-as- direct spending or receipts legislation, OMB you-go scorecard. The net impact of pay- is required to submit a report to Congress as-you-go legislation enacted in calendar year estimating the change in outlays or receipts 1993 was to increase the deficit for 1993 resulting from that legislation. The estimates and 1994 by a total of $0.8 billion, and must use the same economic and technical to decrease the deficits by a total of $0.7 assumptions contained in the most recent billion for 1993-1998. Table 7. DEFICIT IMPACT OF PAY-AS-YOU-GO LEGISLATION ENACTED AS OF DECEMBER 3, 1993 (In millions of dollars) Change in the fiscal year baseline deficit Report Number Act title 1993 1994 1995 1996 1997 1993- 1998 1998 LEGISLATION ENACTED IN 1991 AND 1992 1 to 140 Total impact of all bills: OMB estimate -2,676 -910 -803 NA NA NA NA CBO estimate -2,676 -910 -803 NA NA NA NA LEGISLATION ENACTED IN CALENDAR YEAR 1993 141 Family and Medical Leave Act of 1993 (Public Law 103-3; HR 1): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 142 Emergency Unemployment Compensation Amendments of 1993 (Public Law 103-6; HR 920): OMB estimate 0 -2 -3 NA NA NA NA CBO estimate 0 -2 -3 NA NA NA NA 143 Export Administration Act Extension (Public Law 103-10; HR 750): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 9 Table 7. DEFICIT IMPACT OF PAY AS-YOU-GO LEGISLATION ENACTED AS OF DECEMBER 3, 1993-Continued (In millions of dollars) Change in the fiscal year baseline deficit Report Act title Number 1993 1994 1995 1996 1997 1993- 1998 1998 144 Food Stamp Act of Amendments (Public Law 103-11; S284): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 145 Making Technical Corrections in the Veterans Health Care Act of 1992 (Public Law 103-18; S 662): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 146 Rehabitate Certain Historic Structures in the Gateway National Recreation Area (Public Law 103-26; S 328): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 147 National Voter Registration Act of 1993 (Public Law 103-31; HR 2): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 148 World War II Memorial (Public Law 103-32; S. 214): OMB estimate 0 2 4 NA NA NA NA CBO estimate 0 1 2 NA NA NA NA 149 Government Printing Office Electronic Access Enhance- ment Act of 1993 (Public Law 103-40; S 564): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 150 National Institute of Health Revitalization Act of 1993 (Public Law 103-43; S 1): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 151 Forest Resources Conservation and Shortage Relief Amendments of 1993 (Public Law 103-45; HR 2343): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 152 Big Thicket National Preserve Addition Act of 1993 (Pub- lic Law 103-46; S 80): OMB estimate . . . NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 153 Resolve Status of Certain Lands Relinquished to the United States (Public Law 103-48; HR 765): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 154 Extension of Fast Track Procedures for the Uruguay Trade Agreement (Public Law 103-49; HR 1896): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 155 Naval Vessels Transfer Act (Public Law 103-54; HR2561): OMB estimate -8 -3 -3 NA NA NA NA CBO estimate -8 -3 -3 NA NA NA NA 156 Cave Creek Canyon Protection Act of 1993 (Public Law 103-56; HR 843): OMB estimate 0 0 0 NA NA NA NA CBO estimate 0 0 0 NA NA NA NA 10 Table 7. DEFICIT IMPACT OF PAY-AS-YOU-GO LEGISLATION ENACTED AS OF DECEMBER 3, 1993-Continued (In millions of dollars) Change in the fiscal year baseline deficit Report Act title Number 1993 1994 1995 1996 1997 1998 1993- 1998 157 Spring Mountains National Recreation Area Act (Public Law 103-63; HR 63): OMB estimate 0 0 0 NA NA NA NA CBO estimate (CBO did not classify this bill as PAYGO). 158 Family Farmer Bankruptcy Extension Act of 1993 (Public Law 103-65; HR 416): OMB estimate 0 2 2 NA NA NA NA CBO estimate 0 1 1 NA NA NA NA 159 Omnibus Budget Reconciliation Act of 1993 (Public Law 103-66; HR 2264): 1 OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 160 Rehabilitation Act Amendments of 1993 (Public Law 103-73; S 1295): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 161 Colorado Wilderness Act of 1993 (Public Law 103-77; HR 631): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 162 Veterans' Compensation Rates Codification and Housing Program Technical Correction Act of 1993 (Public Law 103-78; HR 798): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 163 Veterans' Medical Facility Projects and Leases Authoriza- tion (Public Law 103-79; HR 2034): OMB estimate 0 _* _* _* : _. -2 CBO estimate 0 0 0 0 0 0 0 164 Small Business Guaranteed Credit Enhancement (Public Law 103-81; S 1274): OMB estimate -12 0 0 0 0 0 -12 CBO estimate -12 0 0 0 0 0 -12 165 National and Community Service Trust Act of 1993 (Pub- lic Law 103-82; HR 2010): OMB estimate 0 12 7 1 0 0 21 CBO estimate 0 12 8 0 0 0 20 166 Gallatin Range Consolidation and Protection of 1993 (Public Law 103-91; HR 873): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 167 Utah Schools and Lands Improvement Act of 1993 (Public Law 103-93; S 184): OMB estimate 0 0 0 25 25 0 50 CBO estimate 0 0 0 25 25 0 50 168 Hatch Act Reform Amendments of 1993 (Public Law 103-94; HR 20): OMB estimate 0 CBO estimate 0 0 0 0 0 0 0 11 Table 7. DEFICIT IMPACT OF PAY-AS-YOU-GO LEGISLATION ENACTED AS OF DECEMBER 3, 1993-Continued (In millions of dollars) Change in the fiscal year baseline deficit Report Act title Number 1993 1994 1995 1996 1997 1998 1993- 1998 169 Jemez National Recreation Area (Public Law 103-104; HR 38): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 170 Catawba Indian Tribe of South Carolina Land Claims Settlement Act of 1993 (Public Law 103-116; HR 2399): OMB estimate 0 0 8 8 8 8 32 CBO estimate 0 0 0 0 0 0 0 171 Phase out of the Department of Agriculture Programs for Wool and Mohair (Public Law 103-130; S 1584): OMB estimate 0 0 -47 -103 -183 -181 -514 CBO estimate 0 0 -57 -103 -176 -169 -505 172 Most Favored Nation Tariff Treatment for Romania (Pub- lic Law 103-133; HJR 228): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 9 0 0 0 0 9 173 Veterans' Compensation Rates Amendments of 1993 (Pub- lic Law 103-140; S 616): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 174 Religious Freedom Restoration Act of 1993 (Public Law 103-141; HR 1308): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 o 0 175 South African Democratic Transition Support Act of 1993 (Public Law 103-149; HR 3225): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 176 Unemployment Compensation Amendments of 1993 (Pub- lic Law 103-152; HR 3167): OMB estimate 0 853 -164 -429 -286 -383 -409 CBO estimate 0 1,070 -137 -285 -270 -372 6 177 United States Grain Standards Act Amendments of 1993 (Public Law 103-156; S 1490): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 178 Brady Handgun Violence Prevention Act (Public Law 103-159; HR 1025): OMB estimate 0 -2 -1 -2 -3 -3 -11 CBO estimate 0 -2 -1 -1 -2 -2 -8 179 National Defense Authorization Act for Fiscal Year 1994 (Public Law 103-160; HR 2401): OMB estimate 0 52 47 43 41 45 228 CBO estimate 0 13 3 5 6 8 35 180 Veterans' Pension Increase for Congressional Medal of Honor Recipients (Public Law 103-161; HR 3341): OMB estimate 2 CBO estimate 0 0 0 0 0 0 0 181 Air Force Memorial Foundation (Public Law 103-163; HR 898): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 12 Table 7. DEFICIT IMPACT OF PAY-AS-YOU-GO LEGISLATION ENACTED AS OF DECEMBER 3, 1993-Continued (In millions of dollars) Change in the fiscal year baseline deficit Report Act title Number 1993 1994 1995 1996 1997 1998 1993- 1998 182 Lechiguilla Cave Protection Act of 1993 (Public Law 103-169; HR 698): OMB estimate 0 CBO estimate 0 0 0 0 0 0 0 183 International Parental Kidnapping Crime Act of 1993 (Public Law 103-173; HR 3378): OMB estimate 0 CBO estimate 0 0 0 0 0 0 0 184 Naval Vessels Transfer Act (Public Law 103-174; HR 3471): OMB estimate 0 -27 -17 -15 -11 -6 -75 CBO estimate 0 -27 -15 -15 -11 -6 -74 185 Cameron Parish, Louisiana, Land Conveyance (Public Law 103-175; S 433): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 186 American Indian Agricultural Resource Mangement Act (Public Law 103-177; HR 1425): OMB estimate 0 0 0 0 0 0 0 CBO estimate 0 0 0 0 0 0 0 186 Intelligence Authorization Act (Public Law 103-178; HR 2330): OMB estimate 0 0 4 4 5 5 18 CBO estimate 0 0 4 4 5 5 18 187 Patent and Trademark Office Authorization Act of 1993 (Public Law 103-179; HR 2632): OMB estimate 0 -2 -5 -5 -6 -6 -24 CBO estimate 0 0 0 0 0 0 0 188 Negotiated Rates Act of 1993 (Public Law 103-180; S412): OMB estimate CBO estimate 0 0 0 0 0 0 0 Subtotal, enacted in 1993: OMB estimate -20 884 -168 -473 -410 -521 -707 CBO estimate -20 1,072 -198 -370 -423 -536 -475 Total, enacted as of December 3, 1993: OMB estimate -2,696 -26 -971 -473 -410 -521 -5,097 CBO estimate -2,696 162 -1,001 -370 -423 -536 -4,864 . $500,000 or less. NA-The Budget Enforcement Act of 1990 (BEA) required estimates through 1995 only. P.L. 103-66 (OBRA93), enacted in August 1993, requires paygo estimates through 1998. 1 The Omnibus Reconciliation Act of 1993 specified that none of the savings should be included in the totals of the pay- as-you-go scorecard. 1994 1995 1996 1997 1994- 1998 1998 The OMB estimates (in millions of dollars) for this Act are: -46,752 -82,713 -100,554 -128,898 -145,846 -504,763 13 Pay-as-you-go estimates enacted to Comparison with CBO estimates.-CBO date.-In total, pay-as-you-go legislation en- estimates that pay-as-you-go legislation en- acted to date has decreased the combined acted this year increased the deficits for 1993 and 1994 deficits by $2.7 billion. There- 1993 and 1994 by a total of $1.1 billion, fore no sequestration of direct spending pro- while OMB estimates an increase of $0.9 grams is required for fiscal year 1994. billion. Most of this difference is due to a $0.2 billion difference for Public Law Pending legislation.Several pay-as-you- 103-152, the Unemployment Compensation go bills were cleared for the President in Amendments. OMB and CBO had slightly the just completed session, but had not different assumptions about the number of been presented to the President by December beneficiaries for unemployment compensation 3, 1993, for signature. Because these bills and other benefit programs affected by this are not yet law, their impact on the deficit law. Additional detail on estimating differences cannot be taken into account in this report. between OMB and CBO is available in the Current OMB estimates of bills pending Presi- separate reports issued subsequent to enact- dential action are shown in Table 8. ment of each bill. Table 8. DEFICIT IMPACT OF PAY-AS-YOU-GO LEGISLATION AWAITING PRESIDENTIAL ACTION (OMB estimates, in millions of dollars) Change in the fiscal year baseline deficit Bill Act Title Number 1993 1993- 1994 1995 1996 1997 1998 1998 HR 2150 Coast Guard Authorizations, F: 1994 (1) HR 2535 Persian Gulf War Veterans Health Care Act of 1993 0 HR 2840 Copyright Royalty Tribunal Reform Act of 1993 0 0 0 0 0 0 0 HR 3000 Friendship Act 0 0 0 0 0 0 0 HR 3216 Domestic Chemical Diversion Control Act of 1993 0 0 -6 -6 -6 -6 -24 HR 3450 North American Free Trade Agreement Implementation Act 0 41 11 26 -56 -590 -568 HR 3616 Jefferson Commemorative Coin Act 0 0 0 0 0 0 0 S 422 Government Securities Act Ameudments of 1993 0 -1 -1 -1 -1 -1 -5 S 714 Resolution Trust Corporation Completion Act (¹) S 944 Fresh Cut Flowers and Fresh Cut and Fresh Cut Greens Pro- motion and Information Act of 1993 0 0 0 0 0 0 0 S 1507 Higher Education Technical Amendments of 1993 (¹) S 1777 Food Stamps Amendments 0 0 0 0 0 0 0 Subtotal 0 40 44 23 -44 -660 -597 Note: The listing and all estimates in the table are preliminary and subject to change. As required by the BEA, OMB will issue final estimates within five days of enactment of all bills determined to be pay-as-you-go. . $500,000 or less. 1 NA-Not yet available. IV. DEFICIT SEQUESTRATION REPORT The BEA specifies maximum deficit amounts the option of adjusting the maximum deficit through 1995. These deficit amounts reflect amounts in the 1994 and 1995 budgets. economic and technical assumptions as of The President exercised this option for the the time the BEA was enacted. The BEA 1994 budget. required the maximum deficit amounts to be adjusted in the 1992 and 1993 budgets As specified in the BEA, the maximum to reflect up-to-date economic and technical deficit amounts reflect the "on-budget" current assumptions. It provides the President with law levels for direct spending and receipts, 14 and the spending limits for discretionary port. In its final sequestration report issued programs. They do not include "off-budget" on December 6, 1993, CBO estimated the mandatory programs, such as Social Security maximum deficit amount for 1994 to be and Postal Service. Table 9 shows the current $312 billion, $13 billion below the OMB maximum deficit amounts and the current estimate. Table 10 shows the major differences estimated deficits calculated using BEA rules. between OMB and CBO maximum deficit The current estimated deficits are below amounts. Deposit insurance, medicare, medic- the maximum deficit amounts (adjusted for aid, net interest, and receipts account for pay-as-you-go emergencies) in both years. most of the difference. The BEA requires There is no excess deficit, and thus no OMB to use the economic and technical sequester is required for 1994. assumptions contained in the President's April Budget. However, CBO is allowed to update The BEA requires a comparison of the its estimates for recent information. If OMB OMB and CBO estimates of the maximum were allowed to update its economic and deficit amount for the budget year to be technical assumptions, then many of these included in the OMB final sequestration re- differences would be reduced. Table 9. MAXIMUM DEFICIT AMOUNTS (In billions of dollars) 1994 1995 Current Estimated Deficit 327.5 286.6 Less: PAYGO emergencies enacted 2.6 0.4 Current Estimated Deficit (excluding emergencies) 324.9 286.3 Less: Maximum Deficit 325.6 288.0 Subtotal -0.7 -1.8 Excess deficit 0.0 0.0 Table 10. DIFFERENCES BETWEEN OMB AND CBO MAXIMUM DEFICIT AMOUNTS (In billions of dollars) 1994 OMB maximum deficit amount 326 Receipts (deficit impact) -2 Outlays: Discretionary 0 Deposit insurance 7 Medicaid -4 Medicare -3 Other mandatory -3 On-budget net interest -8 Total outlays -12 Total, differences -13 CBO maximum deficit amount 312