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H.R. 5021, the Highway and Transportation Funding Act of 2014 1 (July 30, 2014)

handle is hein.congrec/cbo1841 and id is 1 raw text is: 7/30/2014 Estimate of the Direct Spending and Revenue Effects of H.R. 5021, the Highway and Transportation Funding Act of 2014, as passed by the Senate on July 29, 2014 a (By Fiscal Year, in Millions of Dollars) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014-2019 2014-2024 CHANGES IN DIRECT SPENDING Increase in Mandatory Spending for Highway Programs Estimated Budget Authority 0 54 54 54 54 54 54 54 54 54 54 270 540 Estimated Outlays 0 14 36 44 50 53 54 54 54 54 54 197 467 Extension of Customs User Fees b Estimated Budget Authority 0 0 0 0 0 0 0 0 0 0 -994 0 -994 Estimated Outlays 0 0 0 0 0 0 0 0 0 0 -994 0 -994 Child Tax Credit Penalty Estimated Budget Authority 0 0 -4 -4 -4 -4 -4 -4 -4 -4 -5 -17 -40 Estimated Outlays 0 0 -4 -4 -4 -4 -4 -4 -4 -4 -5 -17 -40 Total Changes in Direct Spending Estimated Budget Authority 0 54 50 50 50 50 50 50 50 50 -945 253 -494 Estimated Outlays 0 14 32 40 46 49 50 50 50 50 -945 180 -567 CHANGES IN REVENUES Changes in Revenues d 3 122 249 285 337 392 445 497 552 614 659 1,382 4,146 NET INCREASE OR DECREASE (-) IN THE DEFICIT FROM CHANGES IN DIRECT SPENDING AND REVENUES Impact on the Deficit -3 -108 -217 -245 -291 -343 -395 -447 -502 -564 -1,604 -1,202 -4,713 Sources: Congressional Budget Office and staff of the Joint Committee on Taxation. Note: Components may not sum to totals because of rounding. a. The Act would extend, through December 19, 2014, provisions of the the Moving Ahead for Progress in the 21st Century Act (Public Law 112-141; 126 Stat. 405).The Act also would transfer $8.1 billion, mostly from the general fund of the Treasury, to the Highway Trust Fund. b. CBO has determined that the nontax provisions of the amendment would impose a private-sector mandate, as defined in the Unfunded Mandates Reform Act (UMRA), by extending the current customs user fees. CBO estimates that the cost of the mandate would exceed the annual threshold established in UMRA for private-sector mandates ($152 million in 2014, adjusted annually for inflation) beginning in 2024. c. Transfers totaling $7.1 billion from the general fund of the Treasury to the Highway Trust Fund would be authorized in section 2002 of the Act. Section 113 of the Bipartisan Budget Act of 2013 (Public Law 113-67, Division A) extended provisions of section 608 of H. Con Res. 25, the Concurrent Resolution on the Budget-Fiscal Year 2014. Pursuant to section 608, general fund transfers to the Highway Trust Fund are considered to be new budget authority and outlays for budget enforcement purposes in the House of Representatives. d. Positive numbers for revenues indicate an increase in reveneues and a decrease in the deficit. SP

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