CBO 

Blog Post
Celebrating CBO’s 45th Anniversary
February 24, 2020
On such an occasion, it is natural to look back on this institution’s history and how it has supported the Congress over the decades. And as CBO’s 10th Director, I am excited to have the opportunity to be a steward for its growth as it becomes still more responsive to the needs of the Congress.

Presentation
The 2020 Budget and Economic Outlook
February 24, 2020
Presentation by Phillip Swagel, CBO’s Director, at the National Association for Business Economics's 36th Annual Economic Policy Conference.

Cost Estimate
H.R. 5825, Transparency in Health Care Investments Act of 2020
February 21, 2020
As ordered reported by the House Committee on Ways and Means on February 12, 2020

Report
Legislation Enacted in the First Session of the 116th Congress That Affects Mandatory Spending or Revenues
February 21, 2020
CBO estimates the laws that were enacted in 2019 will add about $406 billion to the cumulative deficit from 2019 through 2029—the net result of a $422 billion reduction in revenues and a $16 billion reduction in outlays.

Cost Estimate
H.R. 1731, Cybersecurity Disclosure Act of 2019
February 20, 2020
As ordered reported by the House Committee on Financial Services on December 11, 2019

Cost Estimate
H.R. 3283, a bill to amend title 4, United States Code, to permit the flag of the United States to be flown at half-staff in the event of the death of the Mayor of the District of Columbia
February 20, 2020
As ordered reported by the House Committee on the Judiciary on February 12, 2020

Cost Estimate
H.R. 3641, Stronger Enforcement of Civil Penalties Act of 2019
February 20, 2020
As ordered reported by the House Committee on Financial Services on July 16, 2019

Cost Estimate
H.R. 3701, Strengthening Fraud Protection Provisions for SEC Enforcement Act of 2019
February 20, 2020
As ordered reported by the House Committee on Financial Services on July 16, 2019

Cost Estimate
H.R. 5214, Representative Payee Fraud Prevention Act of 2019
February 20, 2020
As passed by the House of Representatives on February 5, 2020

Cost Estimate
S. 3182, Helping Expand and Launch Transitional Health for Women Veterans Act
February 20, 2020
As reported by the Senate Committee on Veterans’ Affairs on February 5, 2020

Presentation
The 2020 Budget and Economic Outlook
February 20, 2020
Presentation by Phillip Swagel, CBO’s Director, to the Forecasters Club of New York.

Cost Estimate
H.R. 2854, Protect Our Refuges Act of 2019
February 19, 2020
As ordered reported by the House Committee on Natural Resources on November 20, 2019

Cost Estimate
H.R. 3779, Resilience Revolving Loan Fund Act of 2019
February 19, 2020
As ordered reported by the House Committee on Transportation and Infrastructure on September 19, 2019

Cost Estimate
H.R. 5000, SHARE Act
February 19, 2020
As ordered reported by the House Committee on Energy and Commerce on November 20, 2019

Cost Estimate
H.R. 5678, Privacy Office Enhancement Act
February 19, 2020
As ordered reported by the House Committee on Homeland Security on January 29, 2020

Cost Estimate
S. 2044, Water Supply Infrastructure Rehabilitation and Utilization Act
February 19, 2020
As reported by the Senate Committee on Energy and Natural Resources on October 29, 2019

Cost Estimate
S. 2336, Department of Veterans Affairs Information Technology Reform Act of 2019
February 19, 2020
As reported by the Senate Committee on Veterans’ Affairs on February 13, 2020

Cost Estimate
S. 2641, Promoting American National Security and Preventing the Resurgence of ISIS Act of 2019
February 19, 2020
As reported by the Senate Committee on Foreign Relations on December 12, 2019

Cost Estimate
S. 2864, Sergeant Daniel Somers Veterans Network Support Act of 2019
February 19, 2020
As reported by the Senate Committee on Veterans’ Affairs on February 5, 2020

Cost Estimate
S. 3239, William T. Coleman, Jr., Department of Transportation Headquarters Act
February 19, 2020
As passed by the United States Senate on February 13, 2020

Cost Estimate
S. 526, Buffalo Tract Protection Act
February 19, 2020
As reported by the Senate Committee on Energy and Natural Resources on December 17, 2019

Cost Estimate
S. 832, an act to nullify the Supplemental Treaty Between the United States of America and the Confederated Tribes and Bands of Indians of Middle Oregon, concluded on November 15, 1865
February 19, 2020
As ordered reported by the House Committee on Natural Resources on February 12, 2020

Cost Estimate
H.R. 5021, Ending Debt Collection Harassment Act of 2019
February 18, 2020
As ordered reported by the House Committee on Financial Services on November 14, 2019

Cost Estimate
S. 123, Ensuring Quality Care for Our Veterans Act
February 18, 2020
As reported by the Senate Committee on Veterans’ Affairs on February 13, 2020

Cost Estimate
S. 2300, CIT Act of 2019
February 18, 2020
As reported by the Senate Committee on Energy and Natural Resources on October 24, 2019

Cost Estimate
S. 3110, Identifying Barriers and Best Practices Study Act of 2019
February 18, 2020
As reported by the Senate Committee on Veterans’ Affairs on February 13, 2020

Cost Estimate
H.R. 1702, Free Veterans From Fees Act
February 14, 2020
As ordered reported by the House Committee on Natural Resources on January 15, 2020

Cost Estimate
H.R. 306, a bill to direct the Secretary of the Interior to conduct a reconnaissance survey of the site of the Kettle Creek Battlefield in Wilkes County, Georgia, and adjacent property, and for other purposes
February 14, 2020
As ordered reported by the House Committee on Natural Resources on January 15, 2020

Cost Estimate
H.R. 3883, Restore the Partnership Act
February 14, 2020
As ordered reported by the House Committee on Oversight and Reform on December 19, 2019

GAO

Hanford Cleanup:
DOE Should Take Actions to Improve Inspections and Oversight of Contaminated Excess Facilities
GAO-20-161: Published: Jan. 21, 2020 Publicly Released: Feb. 20, 2020

Professional Military Education:
Programs Are Accredited, but Additional Information is Needed to Assess Effectiveness
GAO-20-323: Published: Feb. 20, 2020 Publicly Released: Feb. 20, 2020

​Science & Tech Spotlight:
Deepfakes
GAO-20-379SP: Published: Feb. 20, 2020 Publicly Released: Feb. 20, 2020

Immigration:
Actions Needed to Strengthen USCIS's Oversight and Data Quality of Credible and Reasonable Fear Screenings
GAO-20-250: Published: Feb. 19, 2020 Publicly Released: Feb. 19, 2020

National Biodefense Strategy:
Additional Efforts Would Enhance Likelihood of Effective Implementation
GAO-20-273: Published: Feb. 19, 2020 Publicly Released: Feb. 19, 2020

USDA Administrative Services:
More Could Be Done to Assess Effectiveness and Impact of Business Centers
GAO-20-243: Published: Feb. 19, 2020 Publicly Released: Feb. 19, 2020

VA Health Care:
Veterans' Use of Long-Term Care Is Increasing, and VA Faces Challenges in Meeting the Demand
GAO-20-284: Published: Feb. 19, 2020 Publicly Released: Feb. 19, 2020

GASB

GASB Issues Proposal to Enhance Concepts for Notes to Financial Statements  [02/21/20]
Media Advisory
Exposure Draft

IASB

24 February 2020 
SME Implementation Group—call for members

21 February 2020
March 2020 IFRS IC meeting papers and agenda available

21 February 2020
Global Preparers Forum meeting Thursday 5 March—agenda papers available

21 February 2020
Forthcoming webinar in Chinese on Exposure Draft General Presentation and Disclosures

IRS 

IRS updates guidance on business expense deductions for meals and entertainment
IR-2020-39, February 24, 2020 — The Internal Revenue Service issued proposed regulations on the business expense deduction for meals and entertainment following changes made by the Tax Cuts and Jobs Act (TCJA).

Treasury, IRS issue guidance to farmers on uniform capitalization rules
IR-2020-38, February 21, 2020 – The Treasury Department and IRS today issued Revenue Procedure 2020-13 providing procedures for farmers who have elected out of certain capitalization rules and want to apply the small business taxpayer exemption in the same taxable year.

Many farmers, fishermen face March 2 tax deadline; IRS encourages convenience of IRS Direct Pay
IR-2020-37, February 20, 2020 — The IRS reminds farmers and fishermen who chose to forgo making quarterly estimated tax payments that they must file their 2019 Form 1040 along with a payment for all taxes owed by Monday, March 2, 2020.

IRS seeks volunteers to be the voice of the Taxpayer on the Taxpayer Advocacy Panel
IR-2020-36, February 19, 2020 — The IRS today announced it is seeking civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP).

IRS provides answers and a safe harbor on carbon capture credits
IR-2020-35, February 19, 2020 — The IRS today issued guidance to help businesses understand how legislation passed in 2018 may benefit those claiming carbon capture credits.

IRS increases visits to high-income taxpayers who haven’t filed tax returns
IR-2020-34, February 19, 2020 — As part of a larger effort to ensure compliance and fairness, the Internal Revenue Service today announced that it will step up efforts to visit high-income taxpayers who in prior years have failed to timely file one or more of their tax returns.

J5 tax chiefs closing the net on global tax evasion
IR-2020-33, February 19, 2020 — Leaders from five international tax organizations came together in Sydney, Australia, this week to review the J5’s progress in their fight against transnational tax crime and set priorities for the year ahead.

NYS Dept. of Taxation and Finance

Tips for Hiring an Ethical Tax Professional
February 21, 2020​

SEC

Wells Fargo to Pay $500 Million for Misleading Investors About the Success of Its Largest Business Unit
2020-38, Feb. 21, 2020 — The Securities and Exchange Commission today charged California-based Wells Fargo & Co. for misleading investors about the success of its core business strategy at a time when it was opening fake accounts for unknowing customers and selling unnecessary products that went unused. Wells Fargo has agreed to pay $500 million to settle the charges, which will be returned to investors. The $500 million payment is part of a combined $3 billion settlement with the SEC and the Department of Justice.

ICO Issuer Settles SEC Registration Charges, Agrees to Return Funds and Register Tokens As Securities
2020-37, Feb. 19, 2020 — The Securities and Exchange Commission today announced settled charges against blockchain technology startup Enigma MPC for conducting an unregistered offering of securities in the form of an initial coin offering (ICO). Enigma, based in San Francisco and Israel, has agreed to return funds to harmed investors via a claims process, register its tokens as securities, file periodic reports with the SEC, and pay a $500,000 penalty.

SEC Charges Global Alcohol Producer with Disclosure Failures
2020-36, Feb. 19, 2020 — The Securities and Exchange Commission announced charges against alcohol producer Diageo plc for failing to make required disclosures of known trends relating to the shipments of unneeded products by its North American subsidiary to distributors. Diageo has agreed to pay $5 million to settle the action.