Congressional Budget Office – Comparison Boehner/Reid of Budget Control Act Proposals

CBO has been asked to compare the estimated cumulative budgetary savings for Speaker Boehner’s July 27, 2011, version of the Budget Control Act of 2011, to the savings that would be attributable to Majority Leader Reid’s July 25, 2011, version of the Budget Control Act without the estimated savings that are attributable to proposed caps on new funding for war-related activities (often called overseas contingency operations, or OCO). The attached table provides that comparison.

Speaker Boehner’s proposal: As noted in CBO’s July 27 letter to Speaker Boehner, we estimated cumulative savings, including debt service, of $917 billion over the 2012–2021 period for implementing the Budget Control Act of 2011, as proposed in the House on July 25, 2011, with an amendment proposed on July 27, 2011. (Those savings are measured relative to CBO’s March 2011 baseline, adjusted to reflect enactment of 2011 appropriations.) That proposal did not address future funding for war-related activities.

Majority Leader Reid’s proposal: In CBO’s July 27 letter to Majority Leader Reid, we estimated cumulative savings, including debt service, of $2,176 billion over the 2012–2021 period for implementing the Budget Control Act of 2011, as proposed in the Senate on July 25, 2011. (Again, those savings are measured relative to CBO’s March 2011 baseline, adjusted to reflect enactment of 2011 appropriations.) The cumulative savings for Majority Leader Reid’s July 25 proposal include the effects of establishing caps on new funding for war-related activities.

Excluding the effects of the caps on funding for operations in Afghanistan and Iraq and similar activities from Majority Leader Reid’s July 25 proposal would yield 10-year savings of $909 billion, including debt-service effects, $8 billion less (over the 2012–2021 period) than estimated for Speaker Boehner’s July 27 proposal.

via Congressional Budget Office – Comparison of Budget Control Act Proposals.

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