The Congressional Budget Office has said a Senate bill that would require the Treasury Department and the Export-Import Bank to submit annual reports on the sale of commercial planes and aircraft parts to Iran would result in an increase in annual administrative costs at both institutions by less than $500,000.
CBO said in the report published Wednesday the Stop U.S. Support for State Sponsors of Terrorism Act would result in the application of pay-as-you-go procedures since its passage could raise direct spending and revenues due to potential expansion of prohibited forms of trade with Iran.
According to the report, the proposed legislation seeks to amend the existing law in order to restrict the Treasury to issue licenses for the export of commercial passenger planes to Iran and includes a private-sector mandate as stated in the Unfunded Mandates Reform Act since the bill contains a prohibition that would affect U.S. aircraft producers.
“CBO estimates that the aggregate cost of the mandate would probably exceed the annual threshold established in UMRA for private-sector mandates ($154 million in 2016, adjusted annually for inflation),” the report said.
CBO added that the enactment of the bill would not result in on-budget deficit growth “in any of the four consecutive 10-year periods beginning in 2027” and would not affect the Export-Import Bank’s lending operations.