Report No: 540
Date: 12/07/2000

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

1. LAW NUMBER: P.L.106-476 (H.R. 4868)
2. BILL TITLE: Tariff Suspension and Trade Act of 2000
3. BILL PURPOSE: Makes miscellaneous amendments to U.S. trade laws.
4. OMB ESTIMATE: P.L. 106-476 reduces or suspends duties on certain intermediary products and chemicals, refunds customs duties paid on certain goods, and alters the treatment of certain imported goods. Together, these provisions would reduce receipts each year.

		(Fiscal years; in millions of dollars)
	2000	2001	2002	2003	2004	2005
Net costs...............	0	63	44	43	22	14

 

5. CBO ESTIMATE:

		(Fiscal years; in millions of dollars)
		2001	2002	2003	2004	2005
Net costs..............	0	26	12	12	12	12

 

6. EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:

The total difference is the result of technical estimating differences for numerous provisions of P.L. 106-476.

 

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

	(Fiscal years; in millions of dollars)
	2000	2001	2002	2003	2004	2005
Outlay effect..............	34	1,442	2,470	7,109	7,841	8,035
Receipt effect............	-8	-752	-838	-899	-930	-924
Net costs....................	42	2,194	3,308	8,008	8,771	8,959

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.