If real life is canon then this isn't really needed now, as the Bolivian Congress has voted unanimously (both MAS and opposition) for new presidential elections in which Evo won't run because of the constitutional term limits.
cough cough I repeat, Bolivia has already scheduled new free elections. Why is this still proceeding?
Seeing as there is still an arrest warrant on Evo Morales and his Vice President, and the nature of the Bolivian Right to follow the sway of the irl US-aligned OAS, this bill serves as a needed precaution to ensure that Bolivian democracy is upheld and restored.
What the US should do is institute strong oversight on the repeat elections along with observers from the EU and other major nations, and if the MAS candidate wins fair and square then that's final and if the right-wing candidate wins fair and square then that's final.
Regardless of whether the previous election was rigged in some way or not Morales was and is still constitutionally ineligible from running for a third term. Sanctioning and Boycotting Bolivia is a complete overreaction and will only make the very delicate situation worse.