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OMB COST ESTIMATE
FOR PAY-AS-YOU-GO CALCULATIONS

Report No: 561
Date: 12/13/2001

  1. LAW NUMBER: P.L.107-52 (H.J.Res. 51)

  2. BILL TITLE: Approving the Extension of Normal Trade Relations Status for Vietnam.

  3. BILL PURPOSE: Approves the extension of normal trade relations status to Vietnam.

    4.  

  4. OMB ESTIMATE: P.L.107-51 reduces tariffs on products imported from Vietnam, which would reduce receipts.
    5. (Fiscal years; in millions of dollars)
    2001 2002 2003 2004 2005 2006
    Receipts . . . . . . . . . . . . . . . . . . . . 0 -26 -29 -27 -27 -26

     

  5. CBO ESTIMATE:
    6. (Fiscal years; in millions of dollars)
    2001 2002 2003 2004 2005 2006
    Receipts . . . . . . . . . . . . . . . . . . . . 0 -33 -34 -36 -38 -40

     

  6. EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:

    There are small technical estimating differences.

  7. CUMULATIVE EFFECT OF DIRECT SPENDING AND REVENUE LEGISLATION ENACTED TO DATE:
    8. (Fiscal years; in millions of dollars)
    2001 2002 2003 2004 2005 2006
    Outlay effect.............. 5,503 16,646 20,274 21,014 22,071 7,413
    Receipt effect............ -69,501 -35,132 -84,624 -103,812 -104,966 -124,403
    Net costs.................... 75,004 51,778 104,898 124,826 127,037 130,816

    NOTE: The cumulative effect of direct spending and revenue legislation enacted to date is currently estimated to result in an end-of-session sequester. The Administration looks forward to working with the Congress to ensure that an unintended sequester does not occur.