Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act

Cost Estimate
April 29, 2014

As ordered reported by the Senate Committee on Finance on April 3, 2014

The Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act would reinstate and extend certain expired and expiring tax provisions through December 31, 2015; most of the provisions expired on December 31, 2013, and would be retroactively reinstated, but a few are scheduled to expire on December 31, 2014. In some cases those provisions would be extended and amended. The bill also would make several additional changes to tax law.

The staff of the Joint Committee on Taxation (JCT) estimates that enacting the bill would reduce revenues by about $81.3 billion over the 2014-2024 period. A small portion of those estimated reductions in revenues, less than $0.1 billion over the period from 2014 to 2024, results from off-budget (social security) revenues. CBO and JCT also estimate that the bill would increase direct spending by $2.8 billion over the 2014-2024 period.

On net, JCT and CBO estimate that enacting the bill would increase deficits by about $84.1 billion over the 2014-2024 period. Pay-as-you-go procedures apply because enacting the legislation would affect revenues and direct spending.

JCT has determined that the provisions of the bill contain no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.