June 29, 2012
As ordered reported by the House Committee on the Budget on June 27, 2012
H.R. 5872 would require the President to provide a detailed report to the Congress within 30 days of enactment regarding detailed plans for implementing the across-the-board spending cuts for fiscal year 2013 that are required under the Balanced Budget and Emergency Deficit Control Act. Under that act, the Office of Management and Budget (OMB) will implement governmentwide spending cuts in 2013. The bill also would require federal agencies to provide OMB any necessary information.
CBO estimates that implementing the legislation would have no significant impact on the federal budget because it would not significantly increase OMB’s workload under current law. Enacting the bill could affect direct spending by agencies not funded through annual appropriations, such as the Tennessee Valley Authority and the Bonneville Power Administration; therefore, pay-as-you-go procedures apply. CBO estimates, however, that any net increase in spending by those agencies would not be significant. Enacting H.R. 5872 would not affect revenues.
H.R. 5872 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments.