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

Report No: 557
Date: 08/28/2001

1. LAW NUMBER: P.L.107-25 (H.R. 2213)
2. BILL TITLE: Crop Year 2001 Agricultural Economic Assistance Act
3. BILL PURPOSE: Provides $5.5 billion in supplemental income assistance payments to agricultural producers.

 

4. OMB ESTIMATE: P.L. 107-25 provides $5.5 billion of new spending from the Commodity Credit Corporation to agricultural producers by September 30, 2001.

	(Fiscal years; in millions of dollars)
	2001	2002	2003	2004	2005	2006
Net costs....................................	5,500	0	0	0	0	0

 

5. CBO ESTIMATE:

	(Fiscal years; in millions of dollars)
	2001	2002	2003	2004	2005	2006
Net costs....................................	5,500	0	0	0	0	0

 

6. EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:

The estimates are the same.

7. CUMULATIVE EFFECT OF DIRECT SPENDING AND REVENUE LEGISLATION ENACTED TO DATE:

	(Fiscal years; in millions of dollars)
	2001	2002	2003	2004	2005	2006
Outlay effect..............	5,503	16,638	20,274	21,014	22,071	7,413
Receipt effect............	-69,501	-35,105	-84,594	-103,783	-104,396	-123,372
Net costs....................	75,004	51,743	104,868	124,797	127,007	130,785

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.