Description:
Cost estimate for the bill as posted on the website of the House Committee on Rules on June 28, 2012.
The Congressional Budget Office has reviewed the conference report for H.R. 4348, MAP-21, as posted on the Web site of the House Committee on Rules on June 28, 2012.
CBO estimates that enacting H.R. 4348 would reduce budget deficits over the 2012-2022 period by $16.3 billion. That figure does not include effects that may be counted for budget enforcement purposes in the House of Representatives. Specifically, the House- passed budget resolution calls for counting transfers from the general fund of the Treasury to the Highway Trust Fund as new spending.
Major provisions of the legislation that would affect the budget (see Table 1) would:
CBO estimates that implementing the legislation also would lead to discretionary spending of $95.9 billion over the 2013-2017 period (see Table 2); such spending would be subject to future appropriation actions. Of that amount, the spending on transportation programs would total $94.3 billion, which reflects estimated obligation levels for 2013 and 2014 that are approximately equal to the obligation levels for 2012, adjusted for inflation.
In addition, CBO estimates that implementing provisions of the conference report for the remainder of 2012, 2013, and 2014 would result in an end-of-year balance in 2014 of approximately $4 billion in the highway account of the Highway Trust Fund and about$1 billion in the transit account of the Highway Trust Fund. Table 3 provides a projection of future spending, revenues, and remaining balances in the Highway Trust Fund over the next 10 years.
I hope this information is useful to you. If you need additional details, we will be pleased to provide them. The staff contact is Sarah Puro.
