ABSTRACT

Congressional Budget Office Cost Estimate: Statutory Pay-As-You-Go Effects of H.R. 1711, the Financial Inclusion in Banking Act of 2021, as Amended   [open pdf - 87KB]

Alternate Title: CBO's Estimate of the Statutory Pay-As-You-Go Effects of H.R. 1711, the Financial Inclusion in Banking Act of 2021, as Amended, as Posted on the Website of the Clerk of the House on May 14, 2021

This is the Congressional Budget Office (CBO) Cost Estimate as posted on the website of the Clerk of the House on May 14, 2021. From the Document: "The Statutory Pay-As-You-Go Act of 2010 establishes budget-reporting and enforcement procedures for legislation affecting direct spending or revenues. The net changes in outlays and revenues that are subject to those procedures are shown here. H.R. 1711 would expand the duties of the Consumer Financial Protection Bureau's Office of Community Affairs. CBO estimates that additional staff and administrative costs to comply with the bill's requirements would increase direct spending by $10 million over the 2021-2031 period. The bill also would reduce the Federal Reserve's surplus fund by $10 million on September 30, 2031. As a result, CBO estimates that enacting the legislation would increase remittances to the Treasury (which are recorded in the budget as revenues) by $10 million in 2031."

Publisher:
Date:
2021-05-18
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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