H.R. 4823, American FIRST Act of 2023

September 11, 2024

Cost Estimate

As reported by the House Committee on Financial Services on December 19, 2023

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At a Glance

H.R. 4823, American FIRST Act of 2023 As reported by the House Committee on Financial Services on December 19, 2023
By Fiscal Year, Millions of Dollars						2024		2024-2029		2024-2034
Direct Spending (Outlays)						0		29		63
Revenues						0		2		-14
Increase or Decrease (-) in the Deficit						0		27		77
Spending Subject to Appropriation (Outlays)						0		0		0
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?			< $2.5 billion		Statutory pay-as-you-go procedures apply?				Yes
			< $2.5 billion		Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?			< $5 billion		Contains intergovernmental mandate?				No
			< $5 billion		Contains private-sector mandate?				Yes, Under Threshold
The bill would Require additional reporting from federal financial agencies about the implementation of recommended policies and executive orders, interactions with international organizations on climate issues, and interactions with nongovernmental international organizations. Remove the vice chairman for supervision designation at the Federal Reserve Impose a private-sector mandate
Estimated budgetary effects would mainly stem from Additional administrative costs for federal financial agencies

Data and Supplemental Information

Table 1