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1 H.R. 1256, Family Smoking Prevention and Tobacco Control Act 1 (August 25, 2009)

handle is hein.congrec/concrabxk0001 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE August 25, 2009 H.R. 1256 Family Smoking Prevention and Tobacco Control Act As cleared by the Congress on June 12, 2009, and signed by the President on June 22, 2009 SUMMARY H.R. 1256 (enacted as Public Law 111-31) authorizes the Food and Drug Administration (FDA) to regulate tobacco products, and requires the agency to assess fees on manufacturers and importers of tobacco products to cover the cost of FDA's new regulatory activities authorized by the law. Starting in fiscal year 2010, such fees can be collected and made available for obligation only to the extent and in the amounts provided in advance in appropriation acts. H.R. 1256 also contains provisions that affect direct spending and revenues associated with federal retirement benefits. (Discretionary costs of implementing the act are not discussed here; this cost estimate addresses only the effects that H.R. 1256 will have on direct spending and revenues.) CBO and the Joint Committee on Taxation (JCT) estimate that: * H.R. 1256 will increase direct spending, on net, by $35 million over the 2009- 2014 period and by $0.4 billion over the 2009-2019 period; * Federal revenues will increase, on net, by $0.3 billion over the 2009-2014 period and by $1.5 billion over the 2009-2019 period; and * Considering both the revenue and direct spending effects, H.R. 1256 will reduce budget deficits by a total of $0.3 billion over the 2009-2014 period and by $1.0 billion over the 2009-2019 period. (Those amounts exclude the effects that are subject to appropriation action.)

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