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H.R. 2575, updated estimate of the budgetary effects of the Save American Workers Act of 2013 1 (July 17, 2014)

handle is hein.congrec/cbo1811 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 July 17, 2014 Honorable Dave Camp Chairman Committee on Ways and Means U.S. House of Representatives Washington, DC 20515 Dear Mr. Chairman: The Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) have completed an updated estimate of the budgetary effects of H.R. 2575, the Save American Workers Act of 2013. Relative to the baseline budget projections at the time the bill was ordered reported by the House Committee on Ways and Means, CBO and JCT estimated that enacting the bill would increase budget deficits by $73.7 billion over the 2015-2024 period. However, based on the April 2014 baseline projections, CBO and JCT now estimate that enacting H.R. 2575 would increase budget deficits by $45.7 billion over that period (see attached table). H.R. 2575 would alter the calculation of the number of full-time-equivalent employees for the purposes of determining which employers are subject to penalties under the Affordable Care Act for not offering health insurance for their employees or for offering insurance that does not meet certain criteria specified in the law. In addition, the legislation would change the definition of full-time employee used for the calculation of those penalties. Specifically, the bill would raise the threshold that defines full-time employment from 30 hours per week under current law to 40 hours per week. 1. See Congressional Budget Office, cost estimate for H.R. 2575, the Save American Workers Act of 2013 (February 25, 2014), . Because the bill would affect direct spending and revenues, pay-as-you-go procedures apply. The bill was passed by the House of Representatives on April 3, 2014.

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