2 Section 204 of the legislation would amend portions of the Social Security Act that relate to the Old-Age, Survivors, and Disability Insurance programs under title II of the Social Security Act. UMRA excludes from its application any legislation that applies to those provisions of the Social Security Act. Consequently, CBO has not reviewed section 204 for mandates.
ESTIMATED IMPACT ON THE FEDERAL BUDGET
The estimated budgetary impact of the Bipartisan Budget Act of 2013 is summarized in Table 1. (Details for the estimates of effects on direct spending and revenues are provided in Table 2, attached at the end of this cost estimate.) The effects of this legislation fall within several budget functions, including those covering defense, natural resources, transportation, education, health care, and income security.
TABLE 1. ESTIMATED BUDGETARY EFFECTS OF THE BIPARTISAN BUDGET ACT OF 2013
By Fiscal Year, in Billions of Dollars 20142015201620172018201920202021202220232014-20182014-2023
CHANGES IN DIRECT SPENDING
Estimated Budget Authority -7.2-2.2-2.5-2.9-3.2-3.5-3.2-3.4-18.1-24.3-18.1-70.5Estimated Outlays -3.0-3.2-4.1-4.6-4.6-4.7-4.6-4.6-19.3-25.5-19.5-78.4
CHANGES IN REVENUES
NET INCREASE OR DECREASE (-) IN THE DEFICIT FROM CHANGES IN DIRECT SPENDING AND REVENUES
Impact on the Deficit -3.1-3.4-4.5-5.1-5.1-5.4-5.5-5.6-20.5-26.8-21.2-85.0 On-budget effects -3.1-3.4-4.5-5.1-5.1-5.4-5.5-5.6-20.5-26.7-21.2-84.9 Off-budget effects 0**********-0.1
Changes to Caps on Spending Subject to Appropriation
Estimated Authorization Level 44.818.50.00.00.00.00.00.00.00.063.263.2 Estimated Outlays 26.3188.8.131.52.00.60.00.00.00.061.962.4
Sources: CBO and the staff of the Joint Committee on Taxation. Notes: Components may not sum to totals because of rounding; * = between -$50 million and $50 million. a. In addition to the effects on direct spending and revenues, some provisions of the legislation would affect spending subject to appropriation, which is controlled by annual caps on such discretionary funding. Those additional effects are not included in these rows. b. Positive numbers denote an increase in revenues.