Letter from CBO Director Douglas W. Elmendorf to Honorable Sander M. Levin Regarding [H.R. 3546, Emergency Unemployment Compensation Extension Act of 2013] [December 3, 2013] [open pdf - 28KB]
Alternate Title: Congressional Budget Office Cost Estimate: H.R. 3546, Emergency Unemployment Compensation Extension Act of 2013
From the Letter: "The Congressional Budget Office [CBO] has completed an estimate of the budgetary effects of H.R. 3546, the Emergency Unemployment Compensation Extension Act of 2013, which would extend the emergency unemployment compensation (EUC) program for one year. H.R. 3546, as introduced on November 20, 2013, would extend provisions of law relating to the EUC program that are currently scheduled to expire at the end of December. Most significantly, those provisions allow states to provide additional weeks of federally funded unemployment benefits to individuals who have exhausted their regular state benefits. CBO estimates that enacting H.R. 3546 would increase direct spending by $25.7 billion over the 2014-2015 period. Enacting the legislation also would increase revenues modestly, by $0.5 billion over the 2014-2023 period. Pay-as-you-go procedures apply because enacting the legislation would affect direct spending and revenues. Implementing the bill would not have a significant impact on spending subject to appropriation."
Congressional Budget Office: http://www.cbo.gov/