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Federal Agriculture Reform and Risk Management Act of 2012 [i] (July 5, 2012)

handle is hein.congrec/cbo10784 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 July 5, 2012 Honorable Frank Lucas Chairman Committee on Agriculture U.S. House of Representatives Washington, DC 20515 Dear Mr. Chairman: As you requested, CBO has prepared an estimate of the effects on direct spending of draft legislation entitled the Federal Agriculture Reform and Risk Management Act of 2012 that was posted on the Web site of the House Committee on Agriculture on July 5, 2012. CBO estimates that enacting this proposal would reduce direct spending by $35.1 billion over the 2013-2022 period, relative to spending projected under CBO's current baseline. Further details of that estimate are displayed in the three enclosed tables. Because the proposal would affect direct spending, pay-as-you-go procedures apply. Enacting the proposed legislation would not affect federal revenues. CBO has not estimated the additional discretionary spending that would result from implementing the proposal; such spending would be subject to appropriation actions. CBO also has not reviewed the proposal for intergovernmental or private-sector mandates. If you need further details on this estimate, we would be pleased to provide them. The CBO staff contacts are Kathleen FitzGerald, Gregory Hitz, Emily Holcombe, Dan Hoople, David Hull, and Jim Langley. Sincerely, Douglas W. Elmendorf Enclosures cc: Honorable Collin C. Peterson Ranking Member

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