July 5, 2012
As posted on the Web site of the House Committee on Agriculture on July 5, 2012.
CBO estimates that enacting this proposal would reduce direct spending by $35.1 billion over the 2013-2022 period, relative to spending projected under CBO’s current baseline. Further details of that estimate are displayed in the three enclosed tables. Because the proposal would affect direct spending, pay-as-you-go procedures apply. Enacting the proposed legislation would not affect federal revenues. CBO has not estimated the additional discretionary spending that would result from implementing the proposal; such spending would be subject to appropriation actions. CBO also has not reviewed the proposal for intergovernmental or private-sector mandates.