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1 CBO's Estimate of the Statutory Pay-as-You-Go Effects of H.R. 8428, the Hong Kong People's Freedom and Choice Act of 2020, as Ordered Reported by the House Committee on Foreign Affairs on October 1, 2020 1 (November 24, 2020)

handle is hein.congrec/cbostat0001 and id is 1 raw text is: November 24, 2020 By Fiscal Year, Millions of Dollars 2021 2022 2023 2024 2025 2026 2027 2028 2029 Net Decrease (-) in the Deficit Unified Budget Effects -22 -23 -24 -20 -16 -13 -11 -10 -10 -8 -105 -157 Minus Off-budget Effects -12 -14 -12 -11 -10 -8 -6 -5 -5 -4 -59 -87 Equals Pay-As-You-Go Effects -10 -9 -12 -9 -6 -5 -5 -5 -5 -4 -46 -70 Memorandum: Increases in Outlays 4 6 2 3 4 4 4 5 4 4 19 40 Increases in Revenues 14 15 14 12 10 9 9 10 9 8 65 110 The Statutory Pay-As-You-Go Act of 2010 establishes budget-reporting and enforcement procedures for legislation affecting direct spending or revenues. The net changes in outlays and revenues that are subject to those procedures are shown here. H.R. 8428 would allow permanent residents of Hong Kong who are in the United States to apply for and receive temporary protected status (TPS) for 18 months. Aliens with TPS may work legally, receive Social Security numbers (SSNs), and receive federal subsidies for health insurance purchased through the marketplaces established by the Affordable Care Act. According to the Joint Committee on Taxation, revenues would increase because aliens who receive SSNs would report more employment income and pay more taxes. Those workers would continue to possess SSNs in their own name after TPS expires. H.R. 8428 also would apply a lower evidentiary standard to certain permanent residents of Hong Kong who seek refugee or asylee status in the United States. Aliens granted refugee status under the bill would not count towards the annual refugee admissions ceiling set by the President. Refugees and asylees are eligible for all federal benefit programs if they meet the other eligibility criteria for those programs. Staff Contact: David Rafferty

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