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Updated Cost Estimates of the Farm Bills That Were Considered in the Senate and the House during the 112th Congress 1 (March 1, 2013)

handle is hein.congrec/cbo10981 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 March 1, 2013 Honorable Debbie Stabenow Chairwoman Committee on Agriculture, Nutrition, and Forestry United States Senate Washington, DC 20510 Dear Madam Chairwoman: In response to several requests, CBO has prepared updated cost estimates of the farm bill legislation that was considered in the Senate and the House during the 112th Congress. The updated estimates are relative to our most recent baseline projections for agriculture, conservation, and nutrition spending. The enclosed tables show the effects on direct spending of: *S. 3240, the Agriculture Reform, Food, and Jobs Act of 2012, as passed by the Senate on June 21, 2012, with appropriate modifications to implement the legislation if it were enacted near the end of 2013. (During the 113th Congress, this legislation has been introduced as S. 10, the Agriculture Reform, Food, and Jobs Act of 2013.) * H.R. 6083, the Federal Agriculture Reform and Risk Management Act of 2012, as reported by the House Committee on Agriculture on September 13, 2012, with appropriate modifications to implement the bill if it were enacted near the end of 2013. (This legislation has not been introduced during the 113th Congress.) In 2012, CBO estimated that enacting either the Senate or House Farm Bill proposal would reduce spending relative to what our estimated spending would be if the 2008 farm bill (Public Law 110-246) policies were continued. Relative to our most recent baseline projections for commodity prices, land conservation, and nutrition spending, CBO expects that those legislative proposals (as modified to account for a later enactment) also

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