As posted on the Web site of the Senate Committee on Agriculture, Nutrition, and Forestry on April 20, 2012.
CBO estimates that enacting this proposal would reduce direct spending by $26.4 billion over the 2013-2022 period, relative to spending projected under CBO’s current baseline. Further details of that estimate are displayed in the three enclosed tables. Because the proposal would affect direct spending, pay-as-you-go procedures apply. CBO has not estimated the additional discretionary spending that would result from implementing the proposal; such spending would be subject to appropriation. (Enacting the proposed legislation would not affect federal revenues.) CBO also has not reviewed the proposal for intergovernmental or private-sector mandates.