CBO Report: H.R. 1, American Recovery and Reinvestment Act of 2009
Follow up to postings on the American Recovery and Reinvestment Act of 2009, this CBO report released today: H.R. 1, American Recovery and Reinvestment Act of 2009,Cost estimate for the bill as introduced in the House of Representatives on January 26, 2009"H.R. 1 would specify appropriations for a wide range of federal programs and would increase or extend certain benefits payable under the Medicaid, unemployment compensation, and nutrition assistance programs. The legislation also would reduce individual and corporate income tax collections and make a variety of other changes to tax laws. Assuming enactment in mid-February, CBO estimates that the bill would increase outlays by $93 billion during the remaining several months of fiscal year 2009, by $225 billion in fiscal year 2010 (which begins on October 1), by $159 billion in 2011, and by a total of $604 billion over the 2009-2019 period. That spending includes outlays from discretionary appropriations in Division A of the bill and direct spending resulting from Division B."
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