CBO’s estimates are relative to the March 2020 baseline, except as noted in Tables 2 and 3. Enactment is assumed early in fiscal year 2021.
The staff of the Joint Committee on Taxation provided estimates for the tax provisions in titles VI and IX of division A.
S. 178 is authorizing legislation, but section 406 specifies requirements for the budgetary treatment of division B. Consistent with those requirements, and at the direction of the Senate Committee on the Budget, division B is considered appropriation legislation rather than authorizing legislation. In addition, section 11001 would designate the budgetary effects of division A as an emergency requirement, in accordance with section 4(g) of the Statutory-Pay-As-You-Go Act of 2010 and section 4112(a) of H. Con. Res. 71.
The act contains intergovernmental and private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). CBO estimates that the cost of the intergovernmental mandates would fall below the UMRA threshold ($84 million in 2020, adjusted annually for inflation). The most significant private-sector mandate would result from provisions in division A related to liability protections. CBO cannot estimate the cost of that mandate, but given the size of the mandated population, CBO concludes that the cost would exceed the UMRA threshold ($168 million in 2020, adjusted annually for inflation).