Congressional Budget Office releases cost estimates for H.R. 1365
The Congressional Budget Office has released a report on its cost estimates for H.R. 1365 introduced by Congressman Michael San Nicolas which seeks to make technical corrections to the Guam World War II Loyalty Recognition Act.
Using information from the Department of Justice about how much compensation is due, CBO estimates that enacting H.R. 1365 would increase direct spending by $40 million for compensation payments as funds become available over the 2020-2023 period.
“Although the five-year and ten-year totals are correct, the initial estimate indicated that there would be some costs in 2019. The legislation has not yet passed either House of Congress and CBO assumes it would be enacted near the end of fiscal year 2019. Given that timing, CBO expects spending would probably commence in fiscal year 2020,” CBO stated.