ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 3206, Protecting Europe's Energy Security Act of 2019   [open pdf - 122KB]

From the Document: "H.R. 3206 would require the President to impose sanctions on foreign persons (individuals or entities) who provide vessels to lay pipes for certain Russian energy pipelines. The President has the authority under current law to impose similar sanctions. By requiring such sanctions, CBO [Congressional Budget Office] estimates that enacting H.R. 3206 would increase the number of people who would be denied visas by the Department of State and the number who would be subject to civil or criminal penalties. Most visa fees are retained by the department and spent without further appropriation, but some fees are deposited in the Treasury as revenues. Penalties also are recorded as revenues, and a portion of those penalties can be spent without further appropriation. Because CBO expects that very few additional people would be affected, CBO estimates the bill's enactment would have insignificant effects on both revenues and direct spending."

Publisher:
Date:
2019-07-19
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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