This is historical material, "frozen in time."
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This is historical material, "frozen in time."
The web site is no longer updated and links to external web sites and some internal pages will not work.
This is historical material, "frozen in time."
The web site is no longer updated and links to external web sites and some internal pages will not work.
BGCOLOR="#c0c0c0">
OMB COST ESTIMATE
FOR PAY-AS-YOU-GO CALCULATIONS
LAW NUMBER: P.L.106-435 (H.R. 3679)
BILL TITLE: 2002 Winter Olympic Commemorative Coin Act
BILL PURPOSE: Requires the Secretary of the
Treasury to mint commemorative coins
in support of the 2002 Salt Lake Olympic Winter Games and the programs of the United
States Olympic Committee.
OMB ESTIMATE: P.L. 106-435 requires
the Secretary of the Treasury to mint and issue
$5 gold coins and $1 silver coins in 2002 to
commemorate the 2002 Winter Olympic
Games. The Government will incur no net cost. The sales price will include a surcharge
of $35 for the gold coin and $10 for the silver coin, the face value, and the cost of
producing and issuing the coin. The surcharge receipts will be transferred equally to the
Salt Lake Organizing Committee for the Olympic Winter Games of 2002 and the United
States Olympic Committee. OMB estimates that surcharges of about $6 million will be
collected in FY 2002 and transferred to the recipients in FYs 2002 and 2003. In addition,
the law authorizes the Secretary to obtain silver from a defense stockpile. OMB
estimates that the sale of silver from the stockpile will increase offsetting collections by
$2 million in FY 2002 and reduce the same amount of collections in a later year when the
stockpile is depleted.
(Fiscal years; in millions of
dollars)
2000
2001
2002
2003
2004
2005
Net costs...............
0
0
-5
3
0
0
CBO ESTIMATE:
(Fiscal years; in millions of dollars)
2000
2001
2002
2003
2004
2005
Net costs...............
0
0
-5
3
0
0
EXPLANATION OF DIFFERENCES BETWEEN OMB AND CBO ESTIMATES:
OMB and CBO have the same estimates.
CUMULATIVE EFFECT OF DIRECT SPENDING AND REVENUE LEGISLATION
ENACTED TO DATE:
(Fiscal years; in millions of dollars)
2000
2001
2002
2003
2004
2005
Outlay effect..............
34
1,397
2,456
7,094
7,824
8,019
Receipt effect............
-8
-689
-808
-870
-922
-924
Net costs....................
42
2,086
3,264
7,964
8,746
8,943
NOTE: The cumulative effect of direct
spending and revenue legislation enacted to date is
currently estimated to result in an end-of-session sequester. The Administration looks forward to
working with the Congress to ensure that an unintended sequester does not occur.