On the Blog: Congress’ Non-Budget Budget

As we noted last week, Congress hasn’t passed a budget. But late in the week Congress passed a resolution that is kinda sorta supposed to be like a budget… Read about it—and Congress’ love of complexity—in a blog post entitled: “The Strange Non-Budget Budget.”

Featured Item

Before adjourning for the July 4th holiday week last week, Congress quickly passed, and the president signed, Public Law 111-198, the Homebuyer Assistance and Improvement Act of 2010.

The law extends eligibility for the first-time homebuyer tax credit. Taxpayers who purchased a principal residence by April 30th now have until September 30th to close and qualify for an $8,000 tax credit.

No official cost estimate is available. If all 180,000 reportedly eligible homebuyers get the tax credit, that would save (and increase the national debt by) about $14.50 per U.S. family. Other provisions in the bill delay spending to make up for losses in revenue.

P.L. 111-198
The Homebuyer Assistance and Improvement Act of 2010

What People Think

The Homebuyer Assistance and Improvement Act of 2010 86% For, 14% Against Vote on this Bill

Displayed below are new, updated, and passed items with their cost or savings per family.

New Items

H.R. 908
The Missing Alzheimer’s Disease Patient Alert Program Reauthorization of 2009
Costs $0.15 per family

H.R. 3019
The Spectrum Relocation Improvement Act of 2009
Costs $0.00 per family

S. 2847
The CALM Act
Costs $0.17 per family

S. 1272
The Devil’s Staircase Wilderness Act of 2009
Costs $0.00 per family

S. 1629
The New Philadelphia, Illinois, Study Act
Costs $0.00 per family

H.R. 4474
The Idaho Wilderness Water Facilities Act
Costs $0.00 per family

S. 3196
The Pre-Election Presidential Transition Act of 2010
Costs $0.05 per family

H.R. 5562
The Homeland Security Grant Management Improvement Act
Costs $0.00 per family

H.R. 5566
The Prevention of Interstate Commerce in Animal Crush Videos Act of 2010
Costs $0.00 per family

S. 193
A bill to create and extend certain temporary district court judgeships
Costs $1.23 per family

H.R. 2336
The GREEN Act of 2009
Costs $85.35 per family

S. 1270
The Oregon Caves National Monument Boundary Adjustment Act of 2009
Costs $0.01 per family

S. 2722
The Heart Mountain Relocation Center Study Act of 2009
Costs $0.00 per family

S. 2933
The Colonel Charles Young Home Study Act
Costs $0.00 per family

S. 258
The Saving Kids From Dangerous Drugs Act of 2009
Costs $0.00 per family

H.R. 4973
The National Wildlife Refuge Volunteer Improvement Act of 2010
Costs $0.07 per family

H.R. 5618
The Restoration of Emergency Unemployment Compensation Act of 2010
Costs $330.53 per family

H.R. 3923
The Sugar Loaf Fire Protection District Land Exchange Act of 2009
Costs $0.00 per family

S. 3084
The Export Promotion Act of 2010
Costs $2.17 per family

H.R. 5297
The Small Business Lending Fund Act of 2010
Saves $41.21 per family

Updated Items

H.R. 2008
The Bonneville Unit Clean Hydropower Facilitation Act
Costs $0.01 per family

H.R. 2741
To amend the Reclamation Wastewater and Groundwater Study and Facilities Act to authorize the Secretary of the Interior to participate in the City of Hermiston, Oregon, water recycling and reuse project, and for other purposes
Costs $0.07 per family

H.R. 86
To eliminate an unused lighthouse reservation, provide management consistency by bringing the rocks and small islands along the coast of Orange County, California, and meet the original Congressional intent of preserving Orange County’s rocks and small islands, and for other purposes
Costs $0.00 per family

H.R. 4213
The American Jobs and Closing Tax Loopholes Act
Costs $312.77 per family

H.R. 5297
The Small Business Lending Fund Act of 2010
Saves $41.21 per family

H.R. 4173
The Wall Street Reform and Consumer Protection Act of 2009
Costs $163.18 per family

Passed Items

P.L. 111-192
The Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act
Costs $47.13 per family

P.L. 111-193
To designate the facility of the United States Postal Service located at 2000 Louisiana Avenue in New Orleans, Louisiana, as the “Roy Rondeno, Sr. Post Office Building”

P.L. 111-194
A joint resolution to provide for the reconsideration and revision of the proposed constitution of the United States Virgin Islands to correct provisions inconsistent with the Constitution and Federal law

P.L. 111-195
The Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010
Costs $0.42 per family

P.L. 111-196
The National Flood Insurance Program Extension Act of 2010

P.L. 111-197
The Airport and Airway Extension Act of 2010, Part II

P.L. 111-198
The Homebuyer Assistance and Improvement Act of 2010