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Legislation Enacted in the 113th Congress That Will Affect Mandatory Spending or Revenues 1 (March 2015)

handle is hein.congrec/cbo2117 and id is 1 raw text is: MARCH 2015 Legislation Enacted in the 113th Congress That Will Affect Mandatory Spending or Revenues This report summarizes the Congressional Budget Office's estimates of the budgetary effects of laws enacted in the 113th Congress that will affect mandatory spend- ing or revenues. Those laws were enacted in calendar years 2013 and 2014. Table 1 includes legislation that was enacted in the first session of that Congress and shows CBO's estimates of budgetary effects for fiscal years 2013 through 2023. According to CBO's estimates, those laws will increase budget deficits in fiscal years 2013 through 2016 and will decrease deficits in fiscal years 2017 through 2023. All told, CBO estimated that those laws will reduce federal budget deficits by about $76 billion over the 2013-2023 period. Table 2 includes legislation enacted in the second session and, in most cases, shows the agency's estimates for fiscal years 2014 through 2024. According to CBO's estimates, those laws will increase budget deficits in fiscal years 2014, 2015, and 2023, and will decrease deficits in all of the other years through 2024. In total, CBO estimated that those laws will add about $24 billion to budget deficits over the 2014-2024 period (excluding any 2024 effects from one law for which CBO's estimate did not encompass that year). Those budget windows are consistent with the ones used in CBO's cost estimates that were provided to both the House and Senate Budget Committees at the time each law was enacted. The tables exclude enacted legislation with insignificant effects on mandatory spending- namely, those bills with estimated effects between -$500,000 and +$500,000 in any year or over the 11 -year period. The laws are listed in the order in which they were enacted. Each entry provides the number of the underlying bill that was considered by the Congress. It also includes a link to a relevant CBO cost estimate whenever possible. However, the amounts in a referenced cost estimate may differ from the final estimates shown in the table because legislative provisions or CBO's analysis may have changed between the time when CBO initially provided the cost estimate and when the bill was enacted into law. Ths Congressinal Budget Office report was prepated at the request of the Chairmen of the House and Senate Budget Committees and Senator Rob Portman. in keeping with CBO's mandate to provide objective, impartial analysis, the report includes no recommendations. J'nell Blanco Suchy prepared the report, with guidance from Peter Fontaine, Theresa Gullo, and Janet Airis. Robert Sunshine reviewed the report. An electronic version is I available on CBO's website (www.cbo.gov/publication/ 50052). Douglas W Elmendorf Director

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