Political Quotes

“I would like to include for the Record a letter from the Congressional Budget Office that says this bill has no budget impact. U.S. Congress, Congressional Budget Office, Washington, DC, April 26, 2013 Hon. Dave Camp Chairman, Committee on Ways and Means House of Representatives, Washington, DC. Dear Mr. Chairman: The Congressional Budget Office has prepared the enclosed cost estimate for H.R. 807, the Full Faith and Credit Act. If you wish further details on this estimate, we will be pleased to provide them. The CBO staff contact is Jared Brewster. Sincerely, Robert A. Sunshine (For Douglas W. Elmendorf, Director). Enclosure. Congressional Budget Office Cost Estimate H.R. 807--Full Faith and Credit Act H.R. 807 would allow the Department of the Treasury to issue debt to pay principal and interest on debt held by the public and debt held by the Old-Age and Survivors Insurance Trust Fund and Disability Insurance Trust Fund, if the statutory limit on debt is reached. The bill would require the Treasury to provide a weekly report to the House Committee on Ways and Means and Senate Committee on Finance outlining the exempted transactions until a new debt limit is enacted. CBO estimates that enacting H.R. 807, by itself, would result in no costs or savings to the federal government because it would not change any of the government's tax or spending policies. Therefore, pay-as-you-go procedures do not apply.…”