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S. 3326, a bill to amend the African Growth and Opportunity Act to extend the third country fabric program and to add South Sudan to the list of countries eligible for designation under that Act, to make technical corrections to the Harmonized Tariff Schedule of the United States relating to the textile and apparel rules of origin for the Dominican Republic-Central America-United States Free Trade Agreement, to approve the renewal of import restrictions contained in the Burmese Freedom and Democracy Act of 2003, and for other purposes 1 (July 20, 2012)

handle is hein.congrec/cbo10866 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE July 20, 2012 S. 3326 A bill to amend the African Growth and Opportunity Act to extend the third country fabric program and to add South Sudan to the list of countries eligible for designation under that Act, to make technical corrections to the Harmonized Tariff Schedule of the United States relating to the textile and apparel rules of origin for the Dominican Republic-Central America-United States Free Trade Agreement, to approve the renewal of import restrictions contained in the Burmese Freedom and Democracy Act of 2003, and for other purposes As ordered reported by the Senate Committee on Finance on July 18, 2012 SUMMARY S. 3326 would extend for three years the preferential tariff treatment currently accorded to certain textile products from lesser-developed countries (LDCs) in the African Growth Opportunity Act (AGOA) program, modify the rules of origin for products imported from countries who are members of the Dominican Republic and Central America Free Trade Agreement (DR-CAFTA), and renew import restrictions enacted in the Burmese Freedom and Democracy Act of 2003. The bill also would shift some corporate income tax payments between fiscal years and extend user fees collected by Customs and Border Protection (CBP) that expire under current law. CBO and the staff of the Joint Committee on Taxation (JCT) estimate that enacting S. 3326 would reduce revenues by $59 million in 2013, increase revenues by $4 million over the 2013-2017 period, and reduce revenues by $192 million over the 2013-2022 period. Enacting S. 3326 also would reduce direct spending by $197 million over the 2013-2022 period. Thus, the net impact of those effects is an estimated reduction in deficits of $5 million over the 2013-2022 period. Pay-as-you-go procedures apply because enacting the legislation would affect direct spending and revenues. CBO has determined that the nontax provisions of the bill contain no intergovernmental mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments. JCT has determined that the tax provision of the bill contains no intergovernmental or private-sector mandates.

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