Feb 11, 2012

H.R. 7, the American Energy and Infrastructure Jobs Act of 2012 update

H.R. 7, the American Energy and Infrastructure Jobs Act of 2012, ...would reduce direct spending and increase revenues; therefore, pay-as-you-go procedures apply. Together, those changes to direct spending and revenues would reduce future deficits by $18 billion over the 2012-2017 period and by $48 billion over the 2012-2022 period (see enclosed Table 1). In addition, CBO estimates that implementing the bill would add $155 billion to discretionary spending over the 2012-2017 period, assuming appropriation of the necessary amounts (see enclosed Table 2).

...This week, CBO has prepared cost estimates for the following bills that are components of H.R. 7 as posted on the Web site of the House Committee on Rules on February 8, 2012:

  •   H.R. 7, the American Energy and Infrastructure Jobs Act of 2012, as ordered reported by the House Committee on Transportation and Infrastructure on February 2, 2012;

  •   H.R. 3407, the Alaskan Energy for American Jobs Act, as ordered reported by the House Committee on Natural Resources on February 1, 2012;

  •   H.R. 3408, the PIONEERS Act, as ordered reported by the House Committee on Natural Resources on February 1, 2012;

  •   H.R. 3410, the Energy Security and Transportation Jobs Act, as ordered reported by the House Committee on Natural Resources on February 1, 2012;

  •   H.R. 3548, the North American Energy Access Act, as ordered reported by the House Committee on Energy and Commerce on February 7, 2012;

  •   H.R. 3813, the Securing Annuities for Federal Employees Act of 2012, as ordered reported by the House Committee on Oversight and Government Reform on February 7, 2012; and

  •   H.R. 3864, the American Energy and Infrastructure Jobs Financing Act of 2012, as ordered reported by the House Committee on Ways and Means on February 3, 2012. 

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