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CBO: Port Cyber Info-Sharing Bill to Cost $37M Over 5 Years

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BudgetThe Congressional Budget Office estimates that the implementation of the proposed Strengthening Cybersecurity Information Sharing and Coordination in Our Ports Act of 2015 would cost the government $37 million over a five-year period ending 2020.

CBO said in a report issued Friday the Department of Homeland Security and U.S. Coast Guard will lead efforts to build up cybersecurity at U.S. ports as part of H.R. 3878.

Estimated costs to DHS and the Coast Guard fall under the defense, transportation and community or regional development budget functions, the report stated.

CBO noted that the bill’s implementation also requires funds to hire staff who will develop information-sharing systems and provide risk analysis services to support port cybersecurity measures.

The bill will not have a pay-as-you-go option and impact long-term net direct spending or on-budget deficits, CBO said.

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