The plastic bushing is missing. It keeps the hydro drive lever in place. You probably won't be able to find a OEM replacement since when they are removed its near impossible to not destroy it. I suggest you buy a metal bushing. I got a flanged bronze bushing that I cut to the proper length. Worked great. I removed the lever entirely (wasn't easy) then replaced both plastic bushings.
Probably not much. The lever arm will still operate the hydro drive, but it'll move around a bit.
If you get a tight bushing (I think the OD is 15/16 and ID was 3/4) you probably could replace the bushing from the outside face, just make sure the bushing doesn't project more than about an 1/8" inside the tower.
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