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S. 1411, Presidential Allowance Modernization Act of 2015 1 (March 10, 2016)

handle is hein.congrec/cbo2832 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE March 10, 2016 S. 1411 Presidential Allowance Modernization Act of 2015 As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on February 10, 2016 SUMMARY S. 1411 would decrease the pensions of former Presidents, increase the pensions of surviving spouses of former Presidents, and limit the allowances provided to each former President for staff, office space, and other related expenses. CBO estimates that implementing the legislation would reduce outlays by $11 million over the 2017-2021 period, assuming that appropriations are reduced by those amounts. Because enacting S. 1411 would not affect direct spending or revenues, pay-as-you-go procedures do not apply. CBO estimates that enacting S. 1411 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2027. S. 1411 contains no intergovernmental mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would not affect the budgets of state, local, or tribal governments. S. 1411 would impose a private-sector mandate, as defined in UMRA, by decreasing the pensions of former Presidents. The cost of complying with the mandate would be the total decrease in pension income earned by former Presidents (who left office before enactment of this bill) and would fall well below the annual threshold established in UMRA for private-sector mandates ($154 million in 2016, adjusted annually for inflation). ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary effect of S. 1411 is shown in the following table. The savings fall in budget function 800 (general government).

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