OMB
COST ESTIMATE
FOR PAY-AS-YOU-GO CALCULATIONS
Report No: 560
Date: 12/13/2001
- LAW NUMBER:
P.L.107-43 (H.R. 2603)
- BILL TITLE:
United States-Jordan Free Trade Area Implementation Act
- BILL PURPOSE:
Implements the U.S.-Jordan agreement establishing a free trade area.
- OMB ESTIMATE:
P.L.107-43 phases out all tariffs on U.S. imports from Jordan at varying
rates and different time tables. The reduction of tariff rates reduces
receipts by small amounts.
|
(Fiscal
years; in millions of dollars) |
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
Receipts
. . . . . . . . . . . . . . . . . . . . |
0 |
-1 |
-1 |
-2 |
-3 |
-5 |
- CBO ESTIMATE:
|
(Fiscal
years; in millions of dollars) |
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
Receipts
. . . . . . . . . . . . . . . . . . . . |
0 |
-2 |
-2 |
-3 |
-4 |
-4 |
- EXPLANATION
OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:
There
are small technical estimating differences.
- 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 |
16,646 |
20,274 |
21,014 |
22,071 |
7,413 |
Receipt
effect............ |
-69,501 |
-35,106 |
-84,595 |
-103,785 |
-104,939 |
-123,377 |
Net
costs.................... |
75,004 |
51,752 |
104,869 |
124,799 |
127,010 |
130,790 |
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.
|