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1 1 (August 9, 2019)

handle is hein.congrec/patemploy0001 and id is 1 raw text is: Congressional Budget Office ' Cost Estimate -y risca year, mans oT voiiars Direct Spending (Outlays) Revenues Increase or Decrease (-) in the Deficit 2019 0 2019-2024 * 0 0 August 9, 2019 2019-2029 * 0 0 * * Under its disaster loan program, the Small Business Administration (SBA) provides direct loans to people and small businesses, including those that suffered substantial economic injury because essential employees were ordered to active duty during a military conflict. S. 3661 would expand the definition of active military service used to determine loan eligibility to mean any period of service for at least 30 consecutive days including periods of full-time training, attendance at military schools, and National Guard duty. Expanding the definition of active military service also would increase eligibility for a program that allows loan recipients to defer the repayment of principal and interest on disaster loans. Using information from the SBA about the disaster loan program, CBO estimates that implementing the bill would slightly increase the total amount of loans administered by the SBA. That increase would increase the estimated subsidy cost of disaster loans by an insignificant amount.' The total subsidy cost of the disaster loan program was $548 million in 2018. Historically, less than 2 percent of disaster loans are made each year to small businesses who suffer economic injury because of employees being called into military service. 1. The subsidy cost is the estimated long-term cost to the government, calculated on a net-present-value basis. Present value is a single number that expresses a flow of current and future income (or payments) in terms of an equivalent lump sum received (or paid) at a specific time. That value depends on the rate of interest (called the discount rate) used to translate future cash flows into current dollars. See also CBO's Cost Estimates Explained, www.cbo.gov/publication/54437; How CBO Prepares Cost Estimates, www.cbo.gov/publication/53519; and Glossary, www.cbo.gov/publication/42904.

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