From the National Journal: The Senate spectrum bill will not produce as much money for deficit reduction as its supporters had predicted, according the new estimates from the Congressional Budget Office.
The CBO released its "score" of legislation approved in June by the Senate Commerce Committee and found it would produce $6.5 billion for deficit reduction — far below the $10 billion that the measure's supporters predicted it would provide.
Despite this, Senate Commerce Chairman Jay Rockefeller (D-W.Va.) and ranking member Kay Bailey Hutchison (R-Texas) issued a statement late Wednesday touting the bill's benefits.
"The Congressional Budget Office's estimate reconfirms that our bill builds a robust public safety network, pays for itself, and still generates real deficit reduction," they said. "This is just another step along the path to final passage. S.911 has strong bipartisan support, and we look forward to getting it through the Senate." Read the entire article here.