CBO 

Blog Post
First Day at CBO
June 3, 2019
I am pleased to start today as the Director of the Congressional Budget Office. I am honored to join the team at CBO, and I thank Keith Hall for his leadership at CBO over the past four years.

Cost Estimate
H.R. 34, Energy and Water Research Integration Act of 2019
May 31, 2019
As ordered reported by the House Committee on Science, Space, and Technology on May 1, 2019

Cost Estimate
H.R. 598, Georgia Support Act
May 31, 2019
As ordered reported by the House Committee on Foreign Affairs on May 22, 2019

Blog Post
Goodbye From CBO’s Director
May 31, 2019
I have been both honored and thrilled to be the director of CBO over the past four years. The office has an excellent, well-deserved reputation for the quality of its work and its commitment to independent, objective, and nonpartisan analysis.

Cost Estimate
S. 881, Space Weather Research and Forecasting Act
May 31, 2019
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on April 3, 2019

Cost Estimate
H.R. 2023, Protect European Energy Security Act
May 31, 2019
As ordered reported by the House Committee on Foreign Affairs on May 22, 2019

Cost Estimate
H.R. 2046, Energy Diplomacy Act of 2019
May 31, 2019
As ordered reported by the House Committee on Foreign Affairs on May 22, 2019

Cost Estimate
H.R. 1921, Ocean Acidification Innovation Act of 2019
May 31, 2019
As ordered reported by the House Committee on Science, Space, and Technology on May 1, 2019

Working Paper
The Effect of Tax-Motivated Transfer Pricing on U.S. Aggregate Trade Statistics: Working Paper 2019-05
May 31, 2019
In this working paper, CBO analyzes how corporate income tax rates affect flows of trade between the affiliates of multinationals—known as related-party trade—to examine whether transfer prices are sensitive to tax differentials.

Cost Estimate
S. 1434, Construction Consensus Procurement Improvement Act of 2019
May 30, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on May 15, 2019

Cost Estimate
S. 832, a bill 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
May 30, 2019
As ordered reported by the Senate Committee on Indian Affairs on May 15, 2019

Report
Fair-Value Estimates of the Cost of Federal Credit Programs in 2020
May 30, 2019
Using FCRA procedures, CBO estimates that new loans and loan guarantees issued in 2020 would result in savings of $31 billion. But using fair-value procedures, CBO estimates that they would have a lifetime cost of $36.5 billion.

Cost Estimate
H.R. 2821, the American Promise Act of 2019
May 30, 2019
Direct Spending and Revenue Effects of H.R. 2821, as ordered reported by the House Committee on the Judiciary on May 22, 2019

Cost Estimate
H.R. 2820, the Dream Act of 2019
May 30, 2019
Direct Spending and Revenues Effects of H.R. 2820, as ordered reported by the House Committee on the Judiciary on May 22, 2019

Cost Estimate
H.R. 2140, Preventing Child Marriage in Displaced Populations Act
May 30, 2019
As ordered reported by the House Committee on Foreign Affairs on May 22, 2019

Cost Estimate
H.R. 2744, USAID Branding Modernization Act
May 30, 2019
As ordered reported by the House Committee on Foreign Affairs on May 22, 2019

Blog Post
CBO’s Ongoing Transparency Efforts
May 29, 2019
CBO continued its transparency efforts in 2019, resulting in the release of testimony, reports, spreadsheets, presentations, interactive graphics, and other products. Such efforts build on those that we reported at the end of last year.

Report
Answers to Questions for the Record Following a Hearing on Discretionary Appropriations Under the Budget Control Act Conducted by the Senate Committee on the Budget
May 29, 2019
The Senate Budget Committee convened a hearing at which Theresa Gullo testified on discretionary appropriations under the Budget Control Act. This document provides CBO’s answers to questions submitted for the record.

Cost Estimate
H.R. 2398, a bill to amend the United States Housing Act of 1937 and title 38, United States Code, to expand eligibility for the HUD-VASH program, to direct the Secretary of Veterans Affairs to submit annual reports to the Committees on Veterans’ Affairs
May 29, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019

Cost Estimate
H.R. 2397, American Manufacturing Leadership Act
May 29, 2019
As ordered reported by the House Committee on Science, Space, and Technology on May 1, 2019

Cost Estimate
S. 1289, Measuring the Economic Impact of Broadband Act of 2019
May 28, 2019
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on May 15, 2019

Cost Estimate
H.R. 1014, Offshore Wind for Territories Act
May 28, 2019
As ordered reported by the House Committee on Natural Resources on May 1, 2019

Cost Estimate
S. 279, Tribal School Federal Insurance Parity Act
May 28, 2019
As ordered reported by the Senate Committee on Indian Affairs on May 15, 2019

Cost Estimate
H.R. 367, Pay Our Coast Guard Parity Act of 2019
May 28, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on March 27, 2019

Cost Estimate
H.R. 2440, Full Utilization of the Harbor Maintenance Trust Fund Act
May 28, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on May 8, 2019

FAF

Financial Accounting Foundation Statement on the Appointment of Sagar Teotia as Acting Chief Accountant at the SEC and the Departure of Wesley R. Bricker  [05/31/19]
Statement

FASB

FASB Simplifies Accounting for Goodwill and Certain Identifiable Intangible Assets for Not-for-Profits  [05/30/19]
Media Advisory
ASU 2019-06

GAO

2020 Census:
Additional Actions Needed to Manage Risk
GAO-19-399: Published: May 31, 2019. Publicly Released: May 31, 2019.

Retirement Security:
Some Parental and Spousal Caregivers Face Financial Risks
GAO-19-382: Published: May 1, 2019. Publicly Released: May 31, 2019.

Military Justice:
DOD and the Coast Guard Need to Improve Their Capabilities to Assess Racial and Gender Disparities
GAO-19-344: Published: May 30, 2019. Publicly Released: May 30, 2019.

NASA:
Assessments of Major Projects
GAO-19-262SP: Published: May 30, 2019. Publicly Released: May 30, 2019.

Hardrock Mining:
Trends in U.S. Reliance on Imports for Selected Minerals
GAO-19-434R: Published: Apr 30, 2019. Publicly Released: May 30, 2019.

Child Care:
States Report Child Care and Development Funds Benefit All Children in Care
GAO-19-261: Published: Apr. 25, 2019 Publicly Released: May. 28, 2019

IASB

31 May 2019
Death of Thomas E. Jones, former Vice-Chairman of the IASB

31 May 2019
Joint CMAC-GPF meeting: Thursday 13 June and Friday 14 June—Agenda papers available

30 May 2019
IASB proposes to update Conceptual Framework reference in IFRS 3

IRS 

IRS, Treasury unveil proposed W-4 design for 2020
IR-2019-98, May 31, 2019  — Today the Internal Revenue Service issued a draft of the 2020 Form W-4, Employee's Withholding Allowance Certificate, that will make accurate withholding easier for employees starting next year.

PCAOB

PCAOB Announces New Liaison for Investors, Audit Committees, and Preparers (May 28, 2019)

SEC
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Sagar Teotia Named the SEC's Acting Chief Accountant
Washington D.C., May 30, 2019 —The Securities and Exchange Commission today named Sagar Teotia as the SEC's Acting Chief Accountant following the departure of Wesley R. Bricker in June.

Wesley R. Bricker, Chief Accountant, to Leave SEC
Washington D.C., May 30, 2019 —The Securities and Exchange Commission today announced that Wesley R. Bricker, Chief Accountant, plans to leave the agency after more than six years of distinguished service.Mr. Bricker was named as the SEC's Chief Accountant in 2016, after serving as the deputy chief accountant.  Earlier, he served as a professional accounting fellow.

SEC Charges Investment Adviser With Fraud
Washington D.C., May 28, 2019 —The Securities and Exchange Commission today charged investment adviser Stephen Brandon Anderson with defrauding clients by overcharging advisory fees of at least $367,000. According to the SEC’s order, Anderson owned and operated River Source Wealth Management, LLC, a now-defunct registered investment adviser in North Carolina.  River Source’s primary revenue stream was customer advisory fees.  Customer agreements provided that those fees would be based on each customer’s assets under management.  The SEC’s order finds, however, that in 2015 and 2016, Anderson overcharged a majority of his clients. 

TIGTA

May 23, 2019
Improvements Are Needed to Correct Continued Deficiencies in the Processing of Taxpayer Referrals of Suspected Tax Fraud [PDF]
Highlights