Congressional Budget Office Cost Estimate: H.R. 5303, Water Resources Development Act of 2016 [open pdf - 32KB]
"H.R. 5303 would authorize the U.S. Army Corps of Engineers (Corps) to construct projects to mitigate storm and hurricane damage, to improve navigation and flood management, and to restore estuaries. CBO [Congressional Budget Office] estimates, that implementing this legislation would cost about $970 million over the next five years and $3.1 billion over the 2017-2026 period, assuming appropriation of the authorized and necessary amounts. Because enacting H.R. 5303 would not affect direct spending or revenues over the 2017-2026 period, pay-as-you-go procedures do not apply. CBO estimates that enacting the bill would increase net direct spending and on-budget deficits by more than $5 billion in at least one of the four consecutive 10-year periods beginning in 2027. The legislation would increase direct spending, beginning in fiscal year 2027, by authorizing the Corps to spend amounts in the Harbor Maintenance Trust Fund without further appropriation. H.R. 5303 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments."
Congressional Budget Office: https://www.cbo.gov/