About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

Letter to the Honorable Jeff Sessions regarding S. 744 [i] (July 25, 2013)

handle is hein.congrec/cbo11307 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 July 25, 2013 Honorable Jeff Sessions Ranking Member Committee on the Budget United States Senate Washington, DC 20510 Dear Senator: This letter responds to your request that the Congressional Budget Office (CBO) show the effect that S. 744, the Border Security, Economic Opportunity, and Immigration Modernization Act, as passed by the Senate, would have on the federal budget excluding changes in direct spending and revenues for the Social Security and Medicare Part A trust funds. In the cost estimate for S. 744 as passed by the Senate, CBO and the staff of the Joint Committee on Taxation (JCT) estimated that the effects of enacting the legislation on revenues and direct spending would reduce deficits by $158 billion over the 2014-2023 period and by $685 billion over the 2024-2033 period; those estimates are unchanged. Those total effects on the deficit reflect estimated cash flows related to Social Security and Part A of Medicare as well as estimated cash flows associated with other revenues and direct spending. As shown in the attached table, CBO and JCT estimate that the act's effects on those two programs would reduce budget deficits by $260 billion over the 2014-2023 period and by $715 billion over the following decade. Thus, excluding the act's effects on direct spending and revenues for the (off-budget) Social Security trust funds and the (on-budget) Medicare Part A trust fund, CBO and JCT estimate that the remaining effects from enacting S. 744 would amount to a deficit increase of $102 billion over the 2014-2023 period and a deficit increase of $30 billion over the 2024-2033 period. I hope this information is helpful to you. Please let me know if you have any further questions. Sincerely, Douglas W. Elmendorf Enclosure cc: Honorable Patty Murray Chairman

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most