H.R. 7129, Put America on Commission Act of 2024

June 12, 2024

Cost Estimate

As reported by the House Committee on Small Business on
February 23, 2024

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At a Glance

H.R. 7129, Put America on Commission Act of 2024 As reported by the House Committee on Small Business on February 23, 2024
By Fiscal Year, Millions of Dollars						2024		2024-2029		2024-2034
Direct Spending (Outlays)						*		7		15
Revenues						12		96		123
Increase or Decrease (-) in the Deficit						-12		-89		-108
Spending Subject to Appropriation (Outlays)						0		2		3
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?			*		Statutory pay-as-you-go procedures apply?				Yes
			*		Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?			No		Contains intergovernmental mandate?				No
			No		Contains private-sector mandate?				No
* = zero and $500,000.
The bill would Establish an Office of Whistleblower Awards within the Small Business Administration to accept information from whistleblowers related to financial fraud in the agency’s COVID relief grant and loan programs Establish a new civil monetary penalty for people convicted of fraud in those COVID relief programs
Estimated budgetary effects would mainly stem from Increases in revenues from new civil monetary penalties collected on fraudulent COVID relief grants and loans Increases in direct spending from new spending from the Whistleblower Award Fund Increases in spending subject to appropriation for the Office of Inspector General
Areas of significant uncertainty include Estimating the amount of civil monetary penalties and other amounts that would be recovered under the program

Data and Supplemental Information

Corrections and Updates

On October 17, 2024, CBO reposted this estimate to correct an error on page 4. The current version correctly identifies the size of the award that the Small Business Administration would pay to a whistleblower, based on the nationality of a person who is convicted of fraud as a result of the whistleblower’s action. The error did not affect CBO’s estimate of the bill’s budgetary effects.