Effects on Deficits Relative to CBO's March Baseline | |||
Adjusted for Subsequent Appropriation Action | |||
(in billions of dollars, fiscal years 2012-2021) | |||
House Speaker | Majority Leader | ||
Boehner's Plan, | Reid's Plan, | ||
Proposed on July 27 | Proposed on July 29 | ||
Caps on Discretionary Programs Excluding OCO | -756 | -752 | |
Program Integrity Initiatives | -1 | -11 | |
Other Mandatory Spending | -5 | -11 | |
Debt Service Savings, Non-OCO | -156 | -153 | |
Total Effect on the Deficit, Excluding OCO | -917 | -927 | |
Caps on Funding for OCO | N.A. | -1,044 | |
Debt Service Savings, OCO Caps | N.A. | -223 | |
TOTAL EFFECT ON THE DEFICIT | -917 | -2,194 | |
Notes: | |||
OCO = Overseas contingency operations, which include the wars in Afghanistan and Iraq and similar activities. | |||
N.A. = not applicable | |||
Details may not add to totals because of rounding. | |||
As requested by the House and Senate leadership, CBO also calculated the net budgetary impact of the plans if the discretionary savings are measured relative to CBO’s January baseline projections. Relative to that baseline, CBO estimates that Speaker Boehner's proposal would reduce budget deficits by about $1.1 trillion between 2012 and 2021; Majority Leader Reid's proposal would reduce budget deficits by slightly more than $2.4 trillion between 2012 and 2021. *Chart and Data from Congressional Budget Office (CBO) report. | |||
Open Congress Summary
Additional Sources of Information:Link to Rules Committee Summary
Link to Congressional Budget Office Cost Estimate
Link to Money Trail
Link to GOP Spin
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