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Agriculture Reform and Risk Management Act of 2013 1 (May 13, 2013)

handle is hein.congrec/cbo11078 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 May 13, 2013 Honorable Frank D. Lucas Chairman Committee on Agriculture U.S. House of Representatives Washington, DC 20515 Dear Mr. Chairman: As you requested, CBO has prepared an estimate of the effects on direct spending of draft legislation entitled the Agriculture Reform and Risk Management Act of 2013, as posted on the Web site of the House Committee on Agriculture on May 10, 2013. Estimated Budgetary Effects Relative to the Current-Law Baseline CBO estimates that direct spending authorized by the draft legislation over the 2014-2023 period would total $940 billion. Relative to spending projected under CBO's May 2013 baseline, CBO estimates that enacting the draft legislation would reduce direct spending by $33.3 billion over the 2014-2023 period. Further details of that estimate are displayed in the enclosed tables. Table 1 shows CBO's estimate of the budgetary effects by title; Table 2 provides estimates pertaining to specific agricultural commodities under title I of the legislation; and Table 3 shows estimates for specific provisions within the various titles of the proposal. 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 for agricultural programs 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.