The Congressional Budget Office (CBO) has reviewed the Sequester Replacement Reconciliation Act, as ordered reported by the House Committee on the Budget on May 7, 2012. The two enclosed tables present estimates of the legislation’s effects on direct spending and revenues under two alternative enactment date assumptions. Table 1 provides estimates assuming enactment around October 1, 2012, while Table 2 provides estimates assuming enactment by July 1, 2012, as you directed in your letter to CBO dated April 2, 2012.

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