Letter from CBO Director Keith Hall to the Honorable John McCain Regarding [Budgetary Effects of S. 2943, the National Defense Authorization Act for Fiscal Year 2017] [June 9, 2016] [open pdf - 78KB]
From the Letter: "The Congressional Budget Office [CBO] has completed an estimate of the budgetary effects of S. 2943, the National Defense Authorization Act for Fiscal Year 2017, as reported by the Senate Committee on Armed Services on May 18, 2016. […] For 2017, the bill would authorize an estimated $603.2 billion, nearly all of which ($602.6 billion) would be specifically authorized by the bill. The remaining $0.6 billion largely reflects CBO's estimate of the amount not specifically authorized by the bill that would be necessary to fund certain accrual payments required under current law. Under S. 2943, specified authorizations for defense programs would total $602.4 billion, an increase of $3.3 billion (1 percent) compared to amounts appropriated for 2016. Operation and maintenance would receive the largest increase ($7.4 billion, or 3 percent), followed by research and development ($2.6 billion, or 4 percent). Procurement would decline by $6.4 billion (5 percent), while authorized funding for all other categories combined would decrease by $0.3 billion (less than 1 percent). Of the amount specifically authorized, $543.5 billion--plus the estimated $0.6 billion mentioned above--would cover 'base' budget costs that, if appropriated, would count against the 2017 cap on defense appropriations. Another $58.9 billion would be for overseas contingency operations and if appropriated, would not be subject to that cap. The remaining $0.2 billion specified for nondefense appropriations would count against the nondefense cap. […] CBO estimates that enacting S. 2943 would increase net direct spending and on-budget deficits by more than $5 billion in each of the four consecutive 10-year periods beginning in 2027."
Congressional Budget Office: http://www.cbo.gov/