S-911, the spectrum act, would reduce net federal direct spending by...
S-911, the spectrum act, would reduce net federal direct spending by $6.5 billion from 2012 to 2021, the Congressional Budget Office said late Wednesday. That’s $3.5 billion less than was estimated by Senate Commerce Committee Chairman Jay Rockefeller, D-W.Va., who…
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has touted his bill’s deficit reduction benefits. CBO’s calculation is based on the FCC raising $24.5 billion from spectrum auctions and the bill increasing direct government spending by $18 billion. The bill also would increase discretionary spending by $43 million from 2012 to 2016, assuming appropriation of the necessary amounts, CBO said. A debt ceiling deal proposed Tuesday by the Senate so-called “Gang of Six” would direct Rockefeller’s committee to find $11 billion in savings (CD July 20 p1).