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Letter to the Honorable Ted Stevens 1 (November 2003)

handle is hein.congrec/cbo9261 and id is 1 raw text is: November 20, 2003 Honorable Ted Stevens Chairman Committee on Appropriations United States Senate Washington, DC 20510 Dear Mr. Chairman, The Congressional Budget Office has just completed its cost estimate for the conference agreement on H.R. 1, the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. CBO estimates that enacting this legislation would result in direct spending outlays totaling $395 billion over the 2004-2013 period. It would also lead to an increase in federal revenues totaling $0.5 billion over that 10-year period. The enclosed tables provide additional detail on these estimates. CBO has not had an opportunity to review the final legislative language, and this estimate could change upon completion of that review. Also, the estimate does not include any amounts of additional discretionary spending that might be necessary to implement the programs established by the legislation. You asked whether the act would take offsets from discretionary accounts or unobligated balances that have previously been appropriated. In reviewing the legislative language that has been provided to us, we have found no such offsets. You also asked whether the measure would provide direct spending for grants, studies, or other programs unrelated to Medicare benefits. We have identified three provisions that might fall in that category: * Section 101 would appropriate a total of $125 million for fiscal years 2005 and 2006 for grants to state pharmacy assistance programs for outreach activities and technical assistance in coordinating their programs with the new Medicare drug benefit.

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