Congressional Budget Office Cost Estimate: S. 93, Global Magnitsky Human Rights Accountability Reauthorization Act   [open pdf - 164KB]

This is the Congressional Budget Office (CBO) Cost Estimate as ordered reported by the Senate Committee on Foreign Relations on June 24, 2021. From the Document: "The Global Magnitsky Human Rights Accountability Act expires on December 23, 2022. S. 93 would permanently extend the authorities and requirements of the act. The bill would also modify the President's authority to impose sanctions on individuals who commit serious human rights abuses or significant acts of corruption under current law. S. 93 would make officials of entities who commit human rights abuses subject to sanctions and would extend sanctions to the immediate family members of sanctioned persons. [...] On the basis of data for similar sanctions, CBO estimates that sanctions in the bill would affect a small number of people. Thus, enacting the bill would have insignificant effects on revenues and direct spending and would, on net, reduce deficits by insignificant amounts over the 2021-2031 period."

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