By Fiscal Year, Millions of Dollars

2024

2024-2029

2024-2034

Direct Spending (Outlays)

0

25

59

Revenues

0

2

-13

Increase or Decrease (-) in the Deficit

0

23

72

Spending Subject to Appropriation (Outlays)

0

15

not estimated

Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?

< $2.5 billion

Statutory pay-as-you-go procedures apply?

Yes

Mandate Effects

Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?

< $5 billion

Contains intergovernmental mandate?

No

Contains private-sector mandate?

Yes, Under Threshold

The bill would

• Require nine federal agencies to establish offices to promote innovation in financial products and services
• Increase the cost of an existing private-sector mandate if federal financial regulators increase annual fees to offset the cost of implementing the bill

Estimated budgetary effects would mainly stem from

• Increases in direct spending, decreases in revenues, and increases in spending subject to appropriation for federal financial regulators to establish new offices

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