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H.R. 5707, Postal Service Financial Improvement Act of 2016 1 (October 20, 2016)

handle is hein.congrec/cbo3238 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE October 20, 2016 H.R. 5707 Postal Service Financial Improvement Act of 2016 As ordered reported by the House Committee on Oversight and Government Reform on July 12, 2016 SUMMARY CBO estimates that enacting H.R. 5707 would cost about $4.4 billion over the 2017-2026 period because funds from a government account would be transferred to a privately operated investment fund. Pay-as-you-go procedures apply because that transfer would increase direct spending. Enacting the bill would not affect revenues. CBO estimates that enacting the legislation would not increase net direct spending or on-budget deficits by more than $5 billion in any of the four consecutive 10-year periods beginning in 2027. H.R. 5707 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments. ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary effect of H.R. 5707 is shown in the following table. The costs of this legislation fall within budget function 550 (health). By Fiscal Year, in Millions of Dollars 2017- 2017- 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2021 2026 INCREASES OR DECREASES (-) IN DIRECT SPENDING Estimated Budget Authority 11,940 0 0 0 0 0 0 0 0 -7,533 11,940 4,407 Estimated Outlays 11,940 0 0 0 0 0 0 0 0 -7,533 11,940 4,407

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