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Regulatory Roundup - Feb. 8-14

As reported by the House Committee on Homeland Security on January 21, 2022

Cost Estimate 
S. 442, BRIGHT Act 
February 10, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021

Working Paper 
CBO’s Model for Estimating the Effect That Federal Taxes Have on Capital Income From New Investment: Working Paper 2022-01 
February 9, 2022
CBO has developed a model to estimate the effect that federal taxes have on capital income from new investment; it uses that model to help estimate how changes in tax law would affect the economy.

Cost Estimate 
H.R. 1931, Japanese American Confinement Education Act 
February 9, 2022
As ordered reported by the House Committee on Natural Resources on November 17, 2021

Cost Estimate 
H.R. 2311, Credit Union Governance Modernization Act of 2021 
February 9, 2022
As ordered reported by the House Committee on Financial Services on November 16, 2021

Cost Estimate 
H.R. 3332, Manufactured Housing Community Preservation Act of 2021 
February 9, 2022
As ordered reported by the House Committee on Financial Services on July 29, 2021

Cost Estimate 
H.R. 3968, Municipal IDs Acceptance Act 
February 9, 2022
As ordered reported by the House Committee on Financial Services on June 23, 2021

Cost Estimate 
H.R. 5911, Fair Hiring in Banking Act 
February 9, 2022
As ordered reported by the House Committee on Financial Services on November 16, 2021

Cost Estimate 
S. 2624, Fiscal Year 2022 Veterans Affairs Major Medical Facility Authorization Act 
February 9, 2022
As ordered reported by the Senate Committee on Veterans’ Affairs on December 15, 2021

Cost Estimate 
H.R. 5029, Expanding the Families of Veterans Access to Mental Health Services Act 
February 8, 2022
As ordered reported by the House Committee on Veterans’ Affairs on November 4, 2021

Report 
Monthly Budget Review: January 2022 
February 8, 2022
The federal budget deficit was $259 billion in the first four months of fiscal year 2022, CBO estimates. That amount is less than deficits recorded for the same period in the two prior years.

Cost Estimate 
H.R. 2444, Fort San Gerónimo Preservation Act 
February 7, 2022
As ordered reported by the House Committee on Natural Resources on July 14, 2021

Cost Estimate 
H.R. 4045, FUTURE Networks Act 
February 7, 2022
As passed by the House of Representatives on December 1, 2021

Cost Estimate 
H.R. 4393, A bill to require the Director of the Court Services and Offender Supervision Agency for the District of Columbia and the Director of the Pretrial Services Agency for the District of Columbia to reside in the District of Columbia 
February 7, 2022
As ordered reported by the House Committee on Oversight and Reform on July 20, 2021

Cost Estimate 
H.R. 5343, FEMA Caseworker Accountability Act 
February 7, 2022
As reported by the House Committee on Transportation and Infrastructure on October 27, 2021

Cost Estimate 
H.R. 5547, CEDS Act 
February 7, 2022
As ordered reported by the House Committee on Transportation and Infrastructure on October 27, 2021

Cost Estimate 
H.R. 6140, Sudan Democracy Act 
February 7, 2022
As ordered reported by the House Committee on Foreign Affairs on December 10, 2021

Cost Estimate 
H.R. 6617, Further Additional Extending Government Funding Act 
February 7, 2022
As Posted on the Rules Committee Website on February 7, 2022

Cost Estimate 
H.R. 897, Agua Caliente Land Exchange Fee to Trust Confirmation Act 
February 7, 2022
As passed by the House of Representatives on December 8, 2021 

GAO 

2020 Census 
Lessons Learned from Planning and Implementing the 2020 Census Offer Insights to Support 2030 Preparations 
GAO-22-104357 
Published: Feb 11, 2022. 
Publicly Released: Feb 11, 2022.
Our work on the 2020 Census could help the Census Bureau as it prepares for the 2030 Census. Budget uncertainties in the 2020 Census—such as funding changes—delayed or canceled activities, including some related to verifying the Bureau's national inventory of addresses. 

Defense Management 
DOD Should Collect More Stakeholder Input and Performance Data on Its Congressional Reporting Process 
GAO-22-105183 
Published: Feb 10, 2022. 
Publicly Released: Feb 10, 2022. 
The Department of Defense is required to report to Congress on an array of national security topics each year. The number of new reporting requirements increased from 513 in FY 2000 to 1,429 in FY 2020, according to DOD. Recent legislation has sought to reform this process. 

Emergency Rental Assistance 
Additional Grantee Monitoring Needed to Manage Known Risks 
GAO-22-105490 
Published: Feb 10, 2022. 
Publicly Released: Feb 10, 2022. 
Congress funded $47 billion in grants for renters unable to pay rent or utilities during the COVID-19 pandemic. Treasury disbursed the grants to state and local governments, which then paid renters, landlords, and utility providers. 

Critical Infrastructure Protection 
Agencies Need to Assess Adoption of Cybersecurity Guidance 
GAO-22-105103 
Published: Feb 09, 2022. 
Publicly Released: Feb 09, 2022. 
The U.S. has 16 critical infrastructure sectors that provide clean water, gas, banking, and other essential services. 

NASA 
Lessons from Ongoing Major Projects Could Improve Future Outcomes 
GAO-22-105709 
Published: Feb 09, 2022. 
Publicly Released: Feb 09, 2022. 
Problems like persistent cost increases and delays have earned NASA's acquisition management a spot on our High Risk List. NASA's current portfolio includes projects that leverage work from private companies. 

Commonwealth of the Northern Mariana Islands 
Recent Workforce Trends and Wage Distribution 
GAO-22-105271 
Published: Feb 08, 2022. 
Publicly Released: Feb 08, 2022. 
The Commonwealth of the Northern Mariana Islands is a U.S territory in the Pacific. Its workforce has changed substantially since 2000, and its tourism-based economy was hit hard by COVID-19. 

Navy Ship Maintenance 
Actions Needed to Monitor and Address the Performance of Intermediate Maintenance Periods 
GAO-22-104510 
Published: Feb 08, 2022. 
Publicly Released: Feb 08, 2022. 
High-priority planned ship and submarine maintenance happens pier-side in homeports, allowing the Navy to interrupt repairs and get ships underway quickly if needed. 

Human and Drug Trafficking 
Actions Needed to Address Gaps in Federal Data to Counter Illicit Activities 
GAO-22-105707 Published:
Feb 08, 2022. 
Publicly Released: Feb 08, 2022. 
We testified about our previous work on federal efforts to counter human trafficking. For instance, cases of missing or murdered Indigenous women is a crisis in the U.S., but the full extent of the problem is unknown because federal databases don't contain comprehensive data. 

VA Disability 
Vietnam Veterans' Claims for Type 1 Diabetes 
GAO-22-105143 
Published: Feb 08, 2022. 
Publicly Released: Feb 08, 2022. 
For disability claims, the Department of Veterans Affairs recognizes that Vietnam veterans' Type 2 diabetes can be related to wartime herbicide exposure (e.g., Agent Orange). But VA requires veterans to provide evidence supporting possible links to Type 1 diabetes. 

COVID-19
Federal Telework Increased During the Pandemic, but More Reliable Data Are Needed to Support Oversight 
GAO-22-104282 
Published: Feb 08, 2022. 
Publicly Released: Feb 08, 2022. 
Some federal agencies reported that during the pandemic, telework hours comprised more than 80% of total work time. Given this increase, agencies want to make decisions about telework policies, office space, and more—which require accurate data. But longstanding telework data issues continue. 

Virtual Currencies 
Additional Information Could Improve Federal Agency Efforts to Counter Human and Drug Trafficking [Reissued with Revisions Feb. 7, 2022] 
GAO-22-105462 
Published: Dec 08, 2021. 
Virtual currency is increasingly used in human and drug trafficking, according to our review of agency records and interviews with officials. Agencies we examined face challenges countering illicit use of virtual currency. 

COVID-19 
Federal Efforts to Provide Vaccines to Racial and Ethnic Groups 
GAO-22-105079 
Published: Feb 07, 2022. 
Publicly Released: Feb 07, 2022. 
Three federal agencies launched programs to supplement state and local COVID-19 vaccination efforts for underserved and historically marginalized racial and ethnic groups. 

Drug Safety 
FDA Should Take Additional Steps to Improve Its Foreign Inspection Program 
GAO-22-103611 
Published: Jan 07, 2022. 
Publicly Released: Feb 07, 2022. 
The Food and Drug Administration inspects foreign and domestic drug manufacturers to ensure drug safety and effectiveness. More than 50% of manufacturers supplying the U.S. market are located overseas—many in India and China. 

IASB 

Meeting
February 2022 International Accounting Standards Board meeting papers now available
11 Feb 2022

Workshop
Join an online workshop to discuss selected submissions on corporate disclosures
10 Feb 2022

IRS

IRS continues work to help taxpayers; suspends mailing of additional letters 
IR-2022-31, February 9, 2022 — As part of ongoing efforts to provide additional help for people during this period, the IRS announced today the suspension of more than a dozen additional letters, including the mailing of automated collection notices normally issued when a taxpayer owes additional tax, and the IRS has no record of a taxpayer filing a tax return. 

Low Income Taxpayer Clinics represented nearly 20,000 taxpayers dealing with an IRS tax controversy 
IR-2022-30, February 9, 2022 — The Internal Revenue Service's Low Income Taxpayer Clinic (LITC) Program office today announced highlights from its 2021 annual report.  

Tax Time Guide: American Rescue Plan changes can boost refunds for many families; people should file even if they haven’t for years  
IR-2022-29, February 8, 2022 — The Internal Revenue Service today urged Americans to file a 2021 federal income tax return so they can take advantage of key tax benefits included in the American Rescue Plan and other recent legislation. 

IRS updates Frequently Asked Questions and Answers for 2021 Recovery Rebate Credit 
IR-2022-28, February 8, 2022 — The Internal Revenue Service today updated frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit. 

IRS announces transition away from use of third-party verification involving facial recognition 
IR-2022-27, February 7, 2022 — The IRS announced it will transition away from using a third-party service for facial recognition to help authenticate people creating new online accounts.  

NYC 

New York City Improves Access for Customers with Self-Service Payment Technology at Business Centers. 
February 8, 2022

NYS 

Tax Warrants Now Searchable on the NYS Tax Department Website 
February 11, 2022 

County Executive Pat Ryan Announces Mobile Disaster Assistance Centers to Help Residents with Ice Storm Recovery  
February 10, 2022 

March 1 Deadline to Upgrade to the Enhanced STAR Property Tax Exemption 
February 9, 2022

SEC 

BlockFi Agrees to Pay $100 Million in Penalties and Pursue Registration of its Crypto Lending Product
2022-26, Feb. 14, 2022 — The Securities and Exchange Commission today charged BlockFi Lending LLC (BlockFi) with failing to register the offers and sales of its retail crypto lending product. In this first-of-its-kind action, the SEC also charged BlockFi with violating the registration provisions of the Investment Company Act of 1940. To settle the SEC’s charges, BlockFi agreed to pay a $50 million penalty, cease its unregistered offers and sales of the lending product, BlockFi Interest Accounts (BIAs), and attempt to bring its business within the provisions of the Investment Company Act within 60 days. BlockFi’s parent company also announced that it intends to register under the Securities Act of 1933 the offer and sale of a new lending product. In parallel actions announced today, BlockFi agreed to pay an additional $50 million in fines to 32 states to settle similar charges.

TIGTA 

Plans to Close the Austin Tax Processing Center Should Be Halted Until Hiring Challenges and Substantial Backlogs at Remaining Centers Are Addressed February 7, 2022

Additional Actions Are Needed to Address Qualified Opportunity Zone Fund and Investor Noncompliance 
February 7, 2022