S. 2717 would reauthorize programs administered by the Maritime Administration (MARAD), which oversees the nation’s merchant marine—the civilian mariners and fleet of U.S. vessels engaged primarily in waterborne commerce. CBO estimates that implementing S. 2717 would cost $500 million over the 2019-2023 period, assuming appropriation of the authorized amounts.
S. 2717 also would permanently extend MARAD’s authority to issue war risk insurance to certain vessels. Enacting that provision would affect direct spending; therefore pay-as-you-go procedures would apply, but CBO estimates that any such effects would be negligible in any year. Enacting the bill would not affect revenues.
CBO estimates that enacting S. 2717 would not significantly increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2029.
S. 2717 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.