In the latest edition of The Taxpayer's Tab, NTUF explores the fiscal ramifications of repealing or altering sequester cuts in 2014, as both parties have said they're open to doing if it means reaching a deal in the ongoing budget negotiations. It turns out that repealing the $109 billion in 2014 sequester cuts could increase federal spending by over $26 billion annually over the next four years.
Also featured in the newest issue:
- Most Expensive: Rep. Sander Levin (D-MI) and Senator Jack Reed (D-RI) introduced H.R. 3546/S. 1747, the Emergency Unemployment Compensation Extension Act of 2013, to extend eligibility for emergency unemployment benefits for another year. It would increase spending by $25.7 billion over five years, or $12.8 billion annually.
- Least Expensive: Congressman Tom Graves (R-GA) and Senator Mike Lee (R-UT) sponsored H.R. 3486/S. 1702, the Transportation Empowerment Act, in an effort to transfer authority over certain federally-managed roads and highways to the states. It would also gradually reduce the federal gas tax over the next five years. The bill would decrease spending by $17.8 billion annually from 2015-2018.
- Wildcard: Thanks to a new EPA regulation stipulating the amount of lead allowed in plumbing devices, some cities may have to scrap their current supplies of replacement fire hydrants. Congressman Bill Johnson (R-OH) introduced H.R. 3588, The Community Fire Safety Act of 2013, to address the law and exempt fire hydrants from the lead requirements. It would not significantly affect federal spending.