Regulatory Roundup: October 24-30
CBO
Report
Answers to Questions for the Record Following a Hearing on Alternative Payment Models and the Slowdown in Federal Health Care Spending
October 27, 2023
The Senate Committee on the Budget convened a hearing at which Chapin White, CBO’s Director of Health Analysis, testified. This document provides CBO’s answers to questions submitted for the record.
Cost Estimate
H.R. 2973, Maritime Architecture and Response to International Terrorism in the Middle East Act of 2023
October 27, 2023
As ordered reported by the House Committee on Foreign Affairs on October 19, 2023
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of October 30, 2023
October 27, 2023
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.
Report
An Analysis of the Navy’s Fiscal Year 2024 Shipbuilding Plan
October 26, 2023
Under the three alternatives in the Navy’s 2024 plan, total shipbuilding costs would average about $34 billion to $36 billion per year (in 2023 dollars) through 2053, CBO estimates, as the Navy built a fleet of 319 to 367 battle force ships.
Cost Estimate
S. 2260, Grant Transparency Act of 2023
October 26, 2023
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 26, 2023
Cost Estimate
H.R. 3266, Peace and Tolerance in Palestinian Education Act
October 25, 2023
As ordered reported by the House Committee on Foreign Affairs on October 19, 2023
Report
Long-Term Implications of the 2024 Future Years Defense Program
October 25, 2023
CBO analyzes the Department of Defense’s plans for 2024 through 2028 as presented in the 2024 Future Years Defense Program. Under those plans, CBO projects, defense costs would increase by 10 percent between 2028 and 2038.
Cost Estimate
S. 1303, the TICKET Act
October 25, 2023
As reported by the Senate Committee on Commerce, Science, and Transportation on September 12, 2023
Cost Estimate
S. 382, Puyallup Tribe of Indians Land Into Trust Confirmation Act of 2023
October 25, 2023
As ordered reported by the Senate Committee on Indian Affairs on July 19, 2023
Presentation
The Federal Budget Process and the Role of the Congressional Budget Office
October 25, 2023
Presentation by Lara Robillard, an analyst in CBO’s Budget Analysis Division, at AcademyHealth’s 2023 Health Policy Orientation, "Information Sources for Policymaking."
Cost Estimate
S. 432, Nulhegan River and Paul Stream Wild and Scenic River Study Act of 2023
October 24, 2023
As order reported by the Senate Committee on Energy and Natural Resources on September 21, 2023
Cost Estimate
H.R. 4725, AUKUS Oversight and Accountability Act
October 23, 2023
As ordered reported by the House Committee on Foreign Affairs on July 26, 2023
Cost Estimate
H.R. 5528, Safe and Smart Federal Purchasing Act
October 23, 2023
As ordered reported by the House Committee on Oversight and Accountability on September 20, 2023
GAO
Credit Cards:
Pandemic Assistance Likely Helped Reduce Balances, and Credit Terms Varied Among Demographic Groups GAO-23-105269
Published:
Publicly Released: In 2022, 82% of U.S. adults had at least one credit card. We examined U.S. credit card usage by analyzing a large sample of credit card data from June 2013-December 2021. We found that many people likely used their pandemic stimulus payments to pay down their credit card balances. Pandemic assistance was also associated with better credit scores and fewer delinquencies. Our comparison of billing...
Retirement Plans:
Improved Communication Needed on Church Plan Eligibility for Federal Insurance Coverage
GAO-23-105080
Published:
Publicly Released: We examined "church plans"—retirement plans sponsored by religious organizations such as denominations, hospitals, or schools. Church plans are exempt from many federal retirement plan requirements, such as ensuring enough money will be available in the plan to pay benefits. These plans generally are ineligible for federal insurance, but we found some that may be paying premiums for it anyway. We recommended that the Pension Benefit...
Freely Associated States:
Agencies Should Enhance Procedures to Address Millions of Dollars in Questionable Spending
GAO-23-106160
Published:
Publicly Released: Micronesia, the Marshall Islands, and Palau receive millions of dollars in U.S. grants from federal agencies. Each country must get an annual audit of its use of these funds. Within 6 months, the granting agency must decide how the country should address any audit findings—including questions about grant spending. Then the agency must work with the country to resolve these questions. The Departments of Health...
VA Whistleblowers:
Retaliation Claim Investigations and Settlement Agreements [Reissued with revisions on Oct. 27, 2023]
GAO-24-107090
Published:
Publicly Released: Federal employees who are whistleblowers can help fight fraud, waste, and abuse, so laws protect them from retaliation, such as demotion and firing. We're looking into whistleblower retaliation cases at the Department of Veterans Affairs. This testimony covers our prior and ongoing work. Amid an uptick in all cases reported to the VA, whistleblower retaliation cases have increased from 577 in FY 2020 to 736...
Federal Real Property:
Agencies Need New Benchmarks to Measure and Shed Underutilized Space
Published:
Publicly Released: Even before the pandemic shifted the balance between in-office and remote work, federal agencies struggled to identify and let go of unneeded space. Operating unused space has unnecessary financial and environmental costs—one reason federal property management has been on our High Risk List since 2003. We found that 17 agencies' headquarters buildings were at 25% capacity or less in the first 3 months of 2023...
International Trade Administration:
Global Markets Employee Focus Groups Raise Workforce Management Concerns GAO-24-106747
Published:
Publicly Released: The Global Markets unit in the Commerce Department's International Trade Administration helps small- and medium-sized U.S. businesses enter and expand into international markets. In May 2023, we found that the Global Markets unit didn't have a comprehensive strategic workforce plan and needed to address human capital office vacancies. We held six focus group sessions with employees to get their perspectives on these and other issues...
Mental Health Services:
State Should Collect Ongoing Feedback to Ensure Overseas Employees' Needs Are Being Met GAO-24-106082
Published:
Publicly Released: U.S. employees and their families overseas often work and live in stressful environments with limited or no access to local mental health services. While the State Department and U.S. Agency for International Development offer some mental health services, providers and patients we surveyed identified challenges in delivering or accessing them. For example, providers reported increased workloads amid growing demand for services. State has collected feedback...
Tribal Issues:
Bureau of Indian Affairs Should Take Additional Steps to Improve Timely Delivery of Real Estate Services GAO-24-105875
Published: Publicly Released: The Bureau of Indian Affairs reviews and approves applications for several types of real estate transactions, including mortgages, for Tribes and their citizens on certain lands. BIA has deadlines for these services in federal regulations and internal policies, but it inconsistently met these deadlines. For example, after receiving a complete application for a certain type of mortgage, BIA is required to approve or disapprove it...
Higher Education:
Options That May Help Survivors of Sexual Violence Continue Their Education and Manage Federal Student Loans
GAO-24-106282
Published:
Publicly Released: Sexual violence is traumatic for all survivors—and those in college may suffer academic and financial consequences. We interviewed officials from 4 colleges and 8 organizations that represent survivors of sexual violence, student loan borrowers, and colleges. They said policies and practices like these can help students continue education after trauma: mental health counseling or referrals no-contact orders, campus escorts, and housing changes leaves of absence...
National Security Snapshot:
Oversight of the DOD Nuclear Enterprise
GAO-24-106735
Published:
Publicly Released: Modernizing the Department of Defense's aging nuclear weapon systems could cost up to $350 billion over the next 20 years. DOD must keep these modernization efforts on track while also supporting ongoing critical missions. This Snapshot report summarizes our prior work on DOD's oversight of its nuclear missions and organizations. We've recommended ways to help DOD improve this oversight, including by clarifying the roles and...
Tax Administration:
IRS Has Opportunities to Address Longstanding Challenges
GAO-24-107129
Published:
Publicly Released: We testified about IRS's longstanding struggles to: Provide timely answers to taxpayer questions Address delays processing tax returns Hire and retain critical staff Protect sensitive information from unauthorized users IRS generally agreed with our prior recommendations on these issues, but hasn't fully implemented them. For example, IRS created a workforce planning initiative to fill critical positions but hasn't acted on it yet. And while IRS...
Federal Law Enforcement Officers:
Criminal Sexual Acts while Acting in Official Capacity
GAO-24-106723
Published:
Publicly Released:
A new provision of law, effective October 1, 2022, makes it specifically illegal for someone acting in their capacity as a federal law enforcement officer to knowingly engage in a sexual act with someone who is under arrest or supervision, in detention, or in federal custody. Consent is not a defense to a violation of this provision. In FY 2023, there were no charges and...
Native Hawaiian Health Care Systems Program:
Services, Funding, and Oversight
GAO-24-106407
Published:
Publicly Released: Native Hawaiians throughout Hawaii can receive primary care, health education, and nutrition services through the Native Hawaiian Health Care Systems—five systems that serve the state's seven inhabited islands. The systems customize their services to meet the needs of their island communities, including culturally appropriate services and health care providers that speak local dialects. These services rely heavily upon federal grants—such as from the Department of...
IASB
September 2023 Accounting Standards Advisory Forum meeting summary now available
Meeting
27 Oct 2023
October 2023 ISSB Update and podcast now available
Update
27 Oct 2023
October 2023 National Standard-setters newsletter now available
News summary
25 Oct 2023
Translations of IASB's educational material about the effects of climate-related matters on financial statements now available
Translated content
25 Oct 2023
IRS
IRS encourages employers to electronically file payroll tax returns
IR-2023-198, Oct. 26, 2023 — The IRS today reminded employers that the best way to file their next quarterly payroll tax return by the Oct. 31, 2023, due date is electronically.
IRS 2024 PTIN renewal period underway for tax professionals
IR-2023-197, Oct. 24, 2023 — The IRS today reminded the nearly 800,000 active tax return preparers that they can take the first step in their filing season readiness by renewing their Preparer Tax Identification Numbers (PTINs) now.
PCAOB
PCAOB Announces Agenda for November 2 Meeting of Its Standards and Emerging Issues Advisory Group
Oct. 27, 2023
George R. Botic Sworn in as PCAOB Board Member
Oct. 25, 2023
SEC
SEC Charges BlackRock with Failing to Properly Disclose Investments by Publicly Traded Fund it Advised
2023-226
Washington D.C., Oct. 24, 2023 — The Securities and Exchange Commission today charged BlackRock Advisors, LLC, an investment adviser, for failing to accurately describe investments in the entertainment industry that comprised a significant portion of a publicly traded fund it advised. To settle the charges, BlackRock agreed to pay a $2.5 million penalty.