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H.R. 1947, Agriculture Reform and Risk Management Act of 2013 1 (June 7, 2013)

handle is hein.congrec/cbo11081 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 June 7, 2013 Honorable Bob Goodlatte Chairman Committee on the Judiciary U.S. House of Representatives Washington, DC 20515 Dear Mr. Chairman: CBO has prepared a cost estimate for H.R. 1947, the Agriculture Reform and Risk Management Act of 2013, as ordered reported by the House Committee on the Judiciary on June 5, 2013. Estimated Budgetary Effects CBO estimates that direct spending stemming from the program authorizations in H.R. 1947 would total $939 billion over the 2014-2023 period. That 10-year total reflects the bill's authorization of expiring programs through 2018 and an extension of those authorizations through 2023, consistent with the rules governing baseline projections that are specified in the Balanced Budget and Emergency Deficit Control Act of 1985. Relative to spending projected under CBO's May 2013 baseline, CBO estimates that enacting the bill would reduce direct spending by $33.4 billion over the 2014-2023 period. The estimated budgetary effects of H.R. 1947 are summarized in Table 1. Assuming appropriation of the specified and necessary amounts, CBO also estimates that implementing the bill would result in discretionary spending of $27.3 billion over the 2014-2018 period and $33.2 billion over the 2014- 2023 period. Further details of that estimate for discretionary spending are displayed in Table 3.

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