H.R. 1616 would require the Department of State and related agencies to prioritize and expedite assistance to promote energy security in European and Eurasian countries and would authorize appropriations for that purpose. In addition, the bill would require the President to report annually to the Congress on the implementation of the bill.
The bill would authorize the appropriation of $250 million each year in 2020 and 2021 for the Countering Russian Influence Fund. Under current law, authorizations of that amount expire after 2019. Assuming appropriation of the specified amounts, CBO estimates that implementing H.R. 1616 would cost $416 million over the 2020-2024 period (most of the remainder would be spent in future years).
In addition, the bill would authorize the appropriation of $79.5 million in 2020 for the Trade and Development Agency. The Congress has permanently authorized whatever amounts are necessary for agency operations; it appropriated $79.5 million for that purpose in 2019.
Using information about the costs of similar reports, CBO estimates that satisfying the reporting requirement in H.R. 1616 would cost less than $500,000 over the 2019-2024 period; such spending would be subject to the availability of appropriated funds.