Cost EstimatesThrough its technical assistance and cost estimates, CBO routinely provides the Congress with information about the effects of proposed legislation on the federal budget. The agency is required by law to prepare a cost estimate for nearly every bill that is approved by a full Congressional committee of the House of Representatives or the Senate.The agency publishes cost estimates at other stages of the legislative process, too, if requested to do so by a relevant committee or by Congressional leadership. Also, CBO estimates the budgetary effects of bills scheduled to be considered under suspension of the rules in the House, a procedure sometimes used to consider legislation on the House floor in an expedited manner. This past quarter, the agency published 316 cost estimates, including the following: |
- A cost estimate for H.R. 8467, the Farm, Food, and National Security Act of 2024, which would reauthorize and amend agricultural support, nutrition, conservation, and other programs implemented and administered by the Department of Agriculture.
- A cost estimate for H.R. 82, the Social Security Fairness Act of 2023, which would repeal the windfall elimination provision, which can reduce Social Security benefits for people who also receive benefits from an employer that did not withhold Social Security taxes, and eliminate the government pension offset, which can reduce Social Security benefits for spouses who also receive government pensions of their own.
- A cost estimate for H.R. 7986, the Generalized System of Preferences Reform Act, which would apply (including retroactively) reduced duties on goods imported under an updated version of the government’s Generalized System of Preferences program through December 31, 2030, and extend current customs user fees through September 30, 2033.
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