[Congressional Record Volume 156, Number 154 (Tuesday, November 30, 2010)]
[House]
[Pages H7754-H7755]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 BUDGETARY EFFECTS OF PAYGO LEGISLATION

  Pursuant to Public Law 111-139, Mr. Spatt hereby submits, prior to 
the vote on passage, the attached estimate of the costs of H.R. 6398, 
To require the Federal Deposit Insurance Corporation to fully insure 
Interest on Lawyers Trust Accounts, as amended, for printing in the 
Congressional Record.

 CBO ESTIMATE OF THE STATUTORY PAY-AS-YOU-GO EFFECTS FOR H.R. 6398, A BILL TO REQUIRE THE FEDERAL DEPOSIT INSURANCE CORPORATION TO FULLY INSURE INTEREST
                                                          ON LAWYERS TRUST ACCOUNTS, AS AMENDED
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                                                                                  By fiscal year, in millions of dollars--
                                                   -----------------------------------------------------------------------------------------------------
                                                     2011    2012    2013    2014    2015    2016    2017    2018    2019    2020   2011-2015  2011-2020
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                       NET INCREASE OR DECREASE (-) IN THE DEFICIT
 
Statutory Pay-As-You-Go Impact....................      12      10       1      -3      -5      -6      -8      -3       0       0        15         -2
--------------------------------------------------------------------------------------------------------------------------------------------------------
H.R. 6398 would amend existing law to extend federal deposit insurance to amounts held in certain interest-bearing accounts through December 31, 2012.
  CBO estimates that enacting this legislation would increase the cost of resolving failed institutions over the next few years but such costs would be
  offset by higher insurance premiums by 2020.
Source: Congressional Budget Office.


[[Page H7755]]



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