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CBO Congressional Budget Office : Estimate for Senate Amendment 2652 to S. 178, the Delivering Immediate Relief to America's Families, Schools and Small Businesses Act

10/21/2020 | 01:20pm EST

Congressional Budget Office

Estimate for Senate Amendment 2652 to S. 178, the Delivering Immediate Relief to America's Families, Schools

and Small Businesses Act

October 21, 2020

Table 1. Summary of Estimated Budgetary Effects

2021-

2021-

By Fiscal Year, Billions of Dollars

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2025

2030

Increases or Decreases (-) in Direct Spending (Division A)

Estimated Budget Authority

44.4

*

*

*

*

*

*

Estimated Outlays

316.2

*

*

*

*

*

*

*

*

*

44.4

44.4

*

*

*

316.2

316.2

Increases or Decreases (-) in Revenues (Division A)

Estimated Revenues

-4.5

-7.4

-5.8

0.2

0.1

0.1

0.1

*

*

*

-17.4

-17.3

Increases in Discretionary Appropriations (Division B)

Budget Authority

187.5

0

0

0

0

0

0

0

0

0

187.5

187.5

Estimated Outlays

68.0

62.6

34.6

11.7

5.6

2.2

1.1

0

0

0

182.6

185.8

Net Increases or Decreases (-) in the Deficit

TOTAL

388.7

70.1

40.4

11.6

5.5

2.1

1.0

*

*

*

516.3

519.3

Sources: Congressional Budget Office; staff of the Joint Committee on Taxation.

Components may not sum to totals because of rounding; * = between -$50 million and $50 million.

CBO's estimates are relative to the March 2020 baseline, except as noted in Tables 2 and 3. Enactment is assumed early in fiscal year 2021.

The staff of the Joint Committee on Taxation provided estimates for the tax provisions in titles VI and IX of division A.

S. 178 is authorizing legislation, but section 406 specifies requirements for the budgetary treatment of division B. Consistent with those requirements, and at the direction of the Senate Committee on the Budget, division B is considered appropriation legislation rather than authorizing legislation. In addition, section 11001 would designate the budgetary effects of division A as an emergency requirement, in accordance with section 4(g) of the Statutory-Pay-As-You-Go Act of 2010 and section 4112(a) of H. Con. Res. 71.

The act contains intergovernmental and private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). CBO estimates that the cost of the intergovernmental mandates would fall below the UMRA threshold ($84 million in 2020, adjusted annually for inflation). The most significant private-sector mandate would result from provisions in division A related to liability protections. CBO cannot estimate the cost of that mandate, but given the size of the mandated population, CBO concludes that the cost would exceed the UMRA threshold ($168 million in 2020, adjusted annually for inflation).

Congressional Budget Office

Estimate for Senate Amendment 2652 to S. 178, the Delivering Immediate Relief to America's Families, Schools and Small Businesses Act

October 21, 2020

Table 2. Changes in Direct Spending Under Division A

2021-

2021-

By Fiscal Year, Millions of Dollars

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2025

2030

Increases or Decreases (-) in Direct Spending

Title I-Sunsets and Offsets

Sec. 1002. Direct appropriation

Estimated Budget Authoritya

-254,000

0

0

0

0

0

0

0

0

0

-254,000

-254,000

Estimated Outlays

0

0

0

0

0

0

0

0

0

0

0

0

Sec. 1004. Rescissions

Budget Authorityb

-146,000

0

0

0

0

0

0

0

0

0

-146,000

-146,000

Estimated Outlays

0

0

0

0

0

0

0

0

0

0

0

0

Title II-Coronavirus Liability Reliefc,d

Estimated Budget Authority

*

*

*

*

*

*

*

*

*

*

*

*

Estimated Outlays

*

*

*

*

*

*

*

*

*

*

*

*

Title III-Assistance for American Families

Sec. 3002. Extension of the Federal Pandemic

Unemployment Compensation programd,e

Estimated Budget Authority

186,670

0

0

0

0

0

0

0

0

0

186,670

186,670

Estimated Outlays

186,670

0

0

0

0

0

0

0

0

0

186,670

186,670

Title IV-Small Business Programs

Sec. 4001. Small business recoveryf

Budget Authority

257,700

0

0

0

0

0

0

0

0

0

257,700

257,700

Estimated Outlays

129,547

11

1

1

*

0

0

0

0

0

129,560

129,560

Total Changes in Direct Spending

Estimated Budget Authority

44,370

*

*

*

*

*

*

*

*

*

44,370

44,370

Estimated Outlays

316,217

11

1

1

*

*

*

*

*

*

316,230

316,230

Source: Congressional Budget Office.

SBA = Small Business Administration; * = between -$500,000 and $500,000.

CBO's estimates are relative to the March 2020 baseline, except for estimates of extending the Federal Pandemic Unemployment Compensation program, which are based on CBO's interim projection for the unemployment rate (see Congressional Budget Office, Interim Economic Projections for 2020 and 2021, May 2020, www.cbo.gov/publication/56351). Enactment is assumed early in fiscal year 2021.

Section 11001 would designate the budgetary effects of division A as an emergency requirement, in accordance with section 4(g) of the Statutory-Pay-As-You-Go Act of 2010 and section 4112(a) of H. Con. Res. 71.

  1. Section 1002 would reduce budget authority currently available to the Treasury for the credit subsidy cost of federal loans, loan guarantees, and grants for various businesses and state and local governments, including assistance provided through the Federal Reserve. CBO estimates that those amounts would not be spent under current law; thus, reducing the budget authority would not affect outlays.
  2. Section 1004 would reduce budget authority currently available to the SBA for the credit subsidy cost of Paycheck Protection Program loan guarantees and principal and interest payments on SBA loan products. CBO estimates that those amounts would not be spent under current law; thus, rescinding the budget authority would not affect outlays.
  3. Title II would narrow the scope of liability of businesses, employers, health care providers, and other entities to civil lawsuits stemming from coronavirus-related harms. As a result, CBO expects that the liability provisions would decrease the number of suits filed and litigated in federal courts. The federal judiciary charges fees to file suit in district court. Those fees are recorded as revenues and can be spent without further appropriation. CBO estimates that the reduction in the number of suits filed each year would be small and that enacting the provisions would reduce revenues and direct spending by an insignificant amount over the 2021-2030 period.
  4. Proposal would affect direct spending and revenues; the revenue effects are shown in Table 3.
  5. Estimates of extending the Federal Pandemic Unemployment Compensation program are based on CBO's interim projection for the unemployment rate.
  6. Sec. 4001 would provide a direct appropriation of $257.6 billion for fiscal year 2020 for the cost of initial and supplemental Paycheck Protection Program loans and extend the SBA's authority to guarantee those loans through December 31, 2020. That section also would directly appropriate $50 million for 2020 to the SBA's salaries and expenses account and directly appropriate $10 million for 2020 to the Minority Business Development Agency. Although there is some uncertainty about the availability of those direct appropriations in 2021, CBO estimates that the funds would be available in that year; thus, CBO includes the budget authority in 2021 and its resulting outlays over the 2021- 2030 period.

Congressional Budget Office

Estimate for Senate Amendment 2652 to S. 178, the Delivering Immediate Relief to America's Families, Schools and Small Businesses Act

October 21, 2020

Table 3. Changes in Revenues Under Division A

2021-

2021-

By Fiscal Year, Millions of Dollars

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2025

2030

Increases or Decreases (-) in Revenues

Title II-Coronavirus Liability Reliefa,b

*

*

*

*

*

*

*

*

*

*

*

*

Title III-Assistance for American Families

Sec. 3002. Extension of the Federal

Pandemic Unemployment Compensation

programb,c

0

55

176

177

137

65

52

8

0

0

545

670

Title VI-Educational Support and Child Care

Sec. 6002. Tax credits for contributions to

eligible scholarship-granting organizations

-1,500

-7,500

-6,000

0

0

0

0

0

0

0

-15,000

-15,000

Sec. 6004. 529 account funding for

homeschool and additional elementary and

secondary expenses

*

-1

-1

*

*

*

*

*

*

*

-3

-3

Title IX-Charitable Giving

Sec. 9001. Increase in limitation on partial

above the line deduction for charitable

contributions

-2,956

0

0

0

0

0

0

0

0

0

-2,956

-2,956

Total Changes in Revenues

-4,456

-7,446

-5,825

177

137

65

52

8

*

*

-17,414

-17,289

Sources: Congressional Budget Office; staff of the Joint Committee on Taxation.

Components may not sum to totals because of rounding; * = between -$500,000 and zero.

CBO's estimates are relative to the March 2020 baseline, except for estimates of extending the Federal Pandemic Unemployment Compensation program, which are based on CBO's interim projection for the unemployment rate (see Congressional Budget Office, Interim Economic Projections for 2020 and 2021, May 2020, www.cbo.gov/publication/56351). Enactment is assumed early in fiscal year 2021.

The staff of the Joint Committee on Taxation provided estimates for the tax provisions in titles VI and IX.

Section 11001 would designate the budgetary effects of division A as an emergency requirement, in accordance with section 4(g) of the Statutory-Pay-As-You-Go Act of 2010 and section 4112(a) of H. Con. Res. 71.

  1. Title II would narrow the scope of liability of businesses, employers, health care providers, and other entities to civil lawsuits stemming from coronavirus-related harms. As a result, CBO expects that the liability provisions would decrease the number of suits filed and litigated in federal courts. The federal judiciary charges fees to file suit in district court. Those fees are recorded as revenues and can be spent without further appropriation. CBO estimates that the reduction in the number of suits filed each year would be small and that enacting the provisions would reduce revenues and direct spending each by an insignificant amount over the 2021-2030 period.
  2. Proposal would affect direct spending and revenues; the effects on direct spending are shown in Table 2.
  3. Estimates of extending the Federal Pandemic Unemployment Compensation program are based on CBO's interim projection for the unemployment rate.

Congressional Budget Office

Estimate for Senate Amendment 2652 to S. 178, the Delivering Immediate Relief to America's Families, Schools and Small Businesses Act

October 21, 2020

Table 4. Discretionary Spending Under Division B, Coronavirus Response Additional Supplemental Appropriations Act, 2020

2021-

2021-

By Fiscal Year, Millions of Dollars

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2025

2030

Increases in Discretionary Spending

Appropriations Subcommittee

Labor, Health and Human Services, Education

Education Stabilization Fund

Budget Authority

105,000

0

0

0

0

0

0

0

0

0

105,000

105,000

Estimated Outlays

28,350

34,650

23,100

10,500

5,250

2,100

1,050

0

0

0

101,850

105,000

Public Health and Social Services Emergency Fund

Budget Authority

47,000

0

0

0

0

0

0

0

0

0

47,000

47,000

Estimated Outlays

10,980

23,040

10,180

840

280

0

0

0

0

0

45,320

45,320

Back to Work Child Care Grants

Budget Authority

10,000

0

0

0

0

0

0

0

0

0

10,000

10,000

Estimated Outlays

6,000

3,200

700

100

0

0

0

0

0

0

10,000

10,000

Child Care and Development Block Grants

Budget Authority

5,000

0

0

0

0

0

0

0

0

0

5,000

5,000

Estimated Outlays

2,600

1,500

500

250

100

50

0

0

0

0

4,950

5,000

Agriculture

Agriculture Programs, Office of the Secretary

Budget Authority

20,000

0

0

0

0

0

0

0

0

0

20,000

20,000

Estimated Outlays

20,000

0

0

0

0

0

0

0

0

0

20,000

20,000

Commerce, Justice, Science

Fisheries Disaster Assistance

Budget Authority

500

0

0

0

0

0

0

0

0

0

500

500

Estimated Outlays

100

250

100

50

0

0

0

0

0

0

500

500

Total Increases in Discretionary

Spending

Budget Authority

187,500

0

0

0

0

0

0

0

0

0

187,500

187,500

Estimated Outlays

68,030

62,640

34,580

11,740

5,630

2,150

1,050

0

0

0

182,620

185,820

Source: Congressional Budget Office.

CBO's estimates are relative to the March 2020 baseline. Enactment is assumed early in fiscal year 2021.

Division B would provide supplemental appropriations for federal agencies to respond to the novel coronavirus pandemic and provide assistance to nonfederal entities. Senate Amendment 2652 is authorizing legislation, but consistent with section 406 of division A, and at the direction of the Senate Committee on the Budget, division B is considered appropriation legislation rather than authorizing legislation. All discretionary spending resulting from division A would be designated as an emergency requirement in keeping with section 251 of the Balanced Budget and Emergency Deficit Control Act of 1985. The limits on discretionary budget authority established by the Budget Control Act of 2011 (Public Law 112-25), as amended, would be adjusted to accommodate such spending.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

CBO - Congressional Budget Office published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 17:19:02 UTC


© Publicnow 2020
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