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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