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Trade Adjustment Assistance Reauthorization Act of 2015 1 (May 5, 2015)

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                   CONGRESSIONAL BUDGET OFFICE

C                               COST   ESTIMATE
                                                                       May  5, 2015


          Trade  Adjustment Assistance Reauthorization Act of 2015

                As ordered reported by the Senate Committee on Finance
                                  on April 22, 2015


  SUMMARY

  The Trade Adjustment Assistance Reauthorization Act of 2015 would temporarily expand
  coverage of Trade Adjustment Assistance (TAA) for Workers through June 2021, and
  reauthorize the program through June 2022. The bill also would authorize appropriations
  for other trade adjustment assistance programs for farmers and firms through 2021.
  Additionally, the bill would extend the health coverage tax credit (HCTC) through 2019.
  Finally, it would extend the authority to collect and increase the rate of certain customs
  user fees, and make changes to the Medicare program.

  CBO  and the staff of the Joint Committee on Taxation (JCT) estimate that enacting the bill
  would increase direct spending by $7 million in 2015 and $1.8 billion over the 2015-2020
  period, but would reduce direct spending by $174 million over the 2015-2025 period.
  Enacting the bill also would decrease revenues by $86 million over the 2015-2025 period,
  JCT estimates.

  On net, CBO and JCT estimate that enacting the bill would reduce deficits by $88 million
  over the 2015-2025 period. Pay-as-you-go procedures apply because enacting the
  legislation would affect direct spending and revenues.

  The bill would increase spending subject to appropriation by $636 million over the
  2015-2015 period, assuming appropriation of the authorized amounts.

  CBO  has determined that the nontax provisions of the bill contain no intergovernmental
  mandates as defined in the Unfunded Mandates Reform Act (UMRA). Any costs incurred
  by state governments to administer trade adjustment assistance programs would result
  from participation in voluntary federal programs.

  CBO  has determined that the nontax provisions of the bill contain private-sector mandates
  on entities required to pay merchandise processing fees. CBO estimates the aggregate cost
  of the mandates would exceed the annual threshold established in UMRA for
  private-sector mandates ($154 million in 2015, adjusted annually for inflation).

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