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Letter to the Honorable Rahm Emanuel [i] (October 2007)

handle is hein.congrec/cbo9293 and id is 1 raw text is: CONGRESSIONAL BUDGT OFFICE Peter R. Orszag, Drector U .S. Congress ashington, DC 20515 October 24, 2007 Honorable Rahm Emanuel U.S. House of Representatives Washington, DC 20515 Dear Congressman: As you requested, I am providing additional information regarding the estimate CBO prepared on October 19, 2007, of the budgetary impact of H.R. 380, the Pharmaceutical Market Access and Drug Safety Act, as introduced on January 10, 2007. CBO determined that enacting H.R. 380 would reduce prices for some prescription drugs, which would lower the amount that both private entities and the federal government spend for prescription drugs. CBO estimated that H.R. 380 would increase federal revenues by $5.2 billion and reduce federal direct spending for prescription drugs by $5.4 billion over the 2009-2017 period. You asked for an estimate of the change in total prescription drug expenditures in the United States associated with enactment of H.R. 380. CBO estimates that total prescription drug expenditures in the United States would be reduced by roughly 1 percent, or about $50 billion, over the 2009-2017 period. I hope this information is helpful to you. The CBO staff contact is Julia Christensen, who can be reached at 226-9010. Sincerely, Peter R. Orszag cc: Honorable John D. Dingell Honorable Edward M. Kennedy Chairman Chairman House Committee on Energy Senate Committee on Health, and Commerce Education, Labor, and Pensions Honorable Joe Barton Honorable Mike Enzi Ranking Member Ranking Member Honorable Byron L. Dorgan

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