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S. 954, Agriculture Reform and Risk Management Act of 2013 1 (May 17, 2013)

handle is hein.congrec/cbo11082 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 May 17, 2013 Honorable Debbie Stabenow Chairwoman Committee on Agriculture, Nutrition, and Forestry United States Senate Washington, DC 20510 Dear Madam Chairwoman: CBO has prepared a cost estimate for S. 954, the Agriculture Reform and Risk Management Act of 2013, as reported by the Senate Committee on Agriculture, Nutrition, and Forestry on May 14, 2013. Estimated Budgetary Effects CBO estimates that direct spending stemming from the program authorization in S. 954 would total $955 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 $17.8 billion over the 2014-2023 period. The estimated budgetary effects of S. 954 are summarized in Table 1. CBO estimates that section 10012 of the bill would increase revenues by $54 million over the 2014-2023 period. Further details of the changes in direct spending and revenues are displayed in Table 2. Assuming appropriation of the specified and necessary amounts, CBO also estimates that implementing the bill would cost $30.1 billion over the 20 14-2018 period and $39.9 billion over the 20 14-2023 period. Further details of that estimate are displayed in Table 3.

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