ABSTRACT

CBO Estimate of S. 1963, A Bill to Repeal Section 403 of the Bipartisan Budget Act of 2013   [open pdf - 189KB]

Alternate Title: Congressional Budget Office Cost Estimate: S. 1963, A Bill to Repeal Section 403 of the Bipartisan Budget Act of 2013

This is the Congressional Budget Office (CBO) Cost Estimate as introduced in the Senate on January 27, 2014. From the Notes: "Section 403 of the Bipartisan Budget Act of 2013 (Public Law 113-67) reduced the annual cost-of-living adjustment for annuities paid to certain military retirees and survivors by up to 1 percent. CBO estimated that section 403 would reduce direct spending by $6,235 million over the 2014-2023 period. The Consolidated Appropriations Act, 2014 exempted disability retirees and certain survivors from this reduction of one percent, which reduced the savings associated with that provision to $5,662 million over that same period. S. 1963 would repeal section 403 of P.L. 113-67. Relative to CBO's February 2014 baseline, we estimate that enacting S. 1963 would increase direct spending by $6,813 million; $5,662 million through 2023, plus $1,151 million in 2024."

Publisher:
Date:
2014-02-10
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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