Regulatory Roundup: July 23-30
AICPA
Press Release
Americans Financial Pain Lower Now Than It Was Pre-Recession
AICPA Q2 2019 PFSi finds that Americans are experiencing near record-high financial satisfaction while financial pain is hovering lowers than it was pre Great Recession.
July 25, 2019
CBO
Cost Estimate
S. 1877, Prevent Government Shutdowns Act of 2019
July 25, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 19, 2019
Cost Estimate
S. 1419, Early Participation in Regulations Act of 2019
July 25, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 19, 2019
Cost Estimate
S. 1211, Addressing Underdeveloped and Tribally Operated Streets Act
July 25, 2019
As ordered reported by the Senate Committee on Indian Affairs on June 19, 2019
Cost Estimate
H.R. 150, GREAT Act
July 25, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 19, 2019
Cost Estimate
S. 1309, a bill to identify and combat corruption in countries, to establish a tiered system of countries with respect to levels of corruption by their governments and their efforts to combat such corruption, and to assess United States assistance to...
July 25, 2019
As reported by the Senate Committee on Foreign Relations on July 11, 2019
Cost Estimate
S. 2071, Repealing Existing Substandard Provisions Encouraging Conciliation with Tribes Act
July 25, 2019
As ordered reported by the Senate Committee on Indian Affairs on July 17, 2019
Cost Estimate
S. 174, Securing Energy Infrastructure Act
July 25, 2019
As ordered reported by the Senate Committee on Energy and Natural Resources on July 16, 2019
Cost Estimate
H.R. 2528, STEM Opportunities Act of 2019
July 24, 2019
As ordered reported by the House Committee on Science, Space, and Technology on June 20, 2019
Cost Estimate
S. 1052, Rare Earth Element Advanced Coal Technologies Act
July 24, 2019
As ordered reported by the Senate Committee on Energy and Natural Resources on July 16, 2019
Cost Estimate
Preliminary Estimate of the Prescription Drug Pricing Reduction Act of 2019
July 24, 2019
Preliminary estimate based on the "Description of the Chairman's Mark" posted on July 23, 2019, and modifications discussed with staff. Subject to revision based on review of legislative language.
Report
CBO’s Projections of Federal Receipts and Expenditures in the National Income and Product Accounts: 2019 to 2029
July 24, 2019
Federal receipts and expenditures in the national income and product accounts (NIPAs) differ in certain ways from revenues and outlays as shown in the federal budget. This report presents CBO’s May 2019 baseline projections using the NIPA framework.
Cost Estimate
H.R. 3409, Coast Guard Authorization Act of 2019
July 24, 2019
As provided to CBO on July 23, 2019
Blog Post
Background for the Director’s Remarks to the Aspen Economic Strategy Group
July 24, 2019
On Monday, July 29, CBO Director Phill Swagel will speak to the Aspen Economic Strategy Group about the long-term fiscal challenges facing the nation. This blog post is provided to the members of the audience as background for those remarks.
Presentation
Fiscal Policy Choices
July 24, 2019
Presentation by Phillip Swagel, CBO Director, to the Aspen Economic Strategy Group.
Cost Estimate
S. 553, Blockchain Promotion Act of 2019
July 23, 2019
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 10, 2019
Cost Estimate
S. 1286, Energy Technology Maturation Act of 2019
July 23, 2019
As ordered reported by the Senate Committee on Energy and Natural Resources on July 16, 2019
Cost Estimate
S. 153, Supporting Veterans in STEM Careers Act
July 23, 2019
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 10, 2019
Cost Estimate
H.R. 397, Rehabilitation for Multiemployer Pensions Act of 2019
July 23, 2019
As published in Rules Committee Print 116-24 on July 19, 2019
Cost Estimate
S. 731, Anti-Border Corruption Improvement Act
July 23, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 19, 2019
Cost Estimate
Bipartisan Budget Act of 2019
July 23, 2019
As posted on July 22, 2019
Cost Estimate
H.R. 549, Venezuela TPS Act of 2019
July 23, 2019
Cost Estimate
H.R. 3504, Ryan Kules Specially Adaptive Housing Improvement Act of 2019
As ordered reported by the House Committee on Veterans’ Affairs on July 11, 2019
Cost Estimate
H.R. 1365, a bill to make technical corrections to the Guam World War II Loyalty Recognition Act
As provided by the House Committee on the Budget on July 19, 2019
FAF
FAF Trustees Open Search for New Board Chair [07/29/19]
News Release
GAO
Nuclear Security:
The International Atomic Energy Agency Could Improve Priority Setting, Performance Measures, and Funding Stabilization
GAO-19-429:Published: Jul 29, 2019. Publicly Released: Jul 29, 2019.
Water Resources Projects:
Army Corps of Engineers Can Further Enhance Acceleration of Feasibility Studies
GAO-19-561:Published: Jul 29, 2019. Publicly Released: Jul 29, 2019.
Wireless Internet:
FCC Should Assess Making Off-School-Premises Access Eligible for Additional Federal Support
GAO-19-564:Published: Jul 29, 2019. Publicly Released: Jul 29, 2019.
Medicaid:
States' Use and Distribution of Supplemental Payments to Hospitals
GAO-19-603:Published: Jul 19, 2019. Publicly Released: Jul 29, 2019.
Depot Maintenance:
DOD Should Adopt a Metric That Provides Quality Information on Funded Unfinished Work
GAO-19-452:Published: Jul 26, 2019. Publicly Released: Jul 26, 2019.
Federal Information Security:
Agencies and OMB Need to Strengthen Policies and Practices
GAO-19-545:Published: Jul 26, 2019. Publicly Released: Jul 26, 2019.
Federal Rulemaking:
Selected Agencies Should Clearly Communicate Practices Associated with Identity Information in the Public Comment Process
GAO-19-483:Published: Jun 26, 2019. Publicly Released: Jul 26, 2019.
Chemical Innovation:
Technologies for Making Products and Processes More Sustainable
GAO-19-660T:Published: Jul 25, 2019. Publicly Released: Jul 25, 2019.
Cybersecurity:
Agencies Need to Fully Establish Risk Management Programs and Address Challenges
GAO-19-384:Published: Jul 25, 2019. Publicly Released: Jul 25, 2019.
Electronic Health Records:
VA Needs to Identify and Report Existing System Costs
GAO-19-679T:Published: Jul 25, 2019. Publicly Released: Jul 25, 2019.
Electronic Health Records:
VA Needs to Identify and Report System Costs
GAO-19-125:Published: Jul 25, 2019. Publicly Released: Jul 25, 2019.
FINANCIAL TECHNOLOGY:
Agencies Should Provide Clarification on Lenders' Use of Alternative Data
GAO-19-694T:Published: Jul 25, 2019. Publicly Released: Jul 25, 2019.
Nutrition Education:
USDA Actions Needed to Assess Effectiveness, Coordinate Programs, and Leverage Expertise
GAO-19-572:Published: Jul 25, 2019. Publicly Released: Jul 25, 2019.
Public Safety Officers' Benefits Program:
Improvements Needed to Strengthen Reporting on 9/11-Related Claims
GAO-19-521R:Published: Jul 25, 2019. Publicly Released: Jul 25, 2019.
Federal Student Loans:
Education Needs to Verify Borrowers' Information for Income-Driven Repayment Plans
GAO-19-347:Published: Jun 25, 2019. Publicly Released: Jul 25, 2019.
2020 Census:
Bureau Needs to Take Additional Actions to Address Key Risks to a Successful Enumeration
GAO-19-685T:Published: Jul 24, 2019. Publicly Released: Jul 24, 2019.
Civil Monetary Penalties:
Review of Federal Agencies' Compliance with the 2018 Annual Inflation Adjustment Requirements
GAO-19-567R:Published: Jul 24, 2019. Publicly Released: Jul 24, 2019.
Equal Employment Opportunity:
DHS Could Better Address Challenges to Ensuring EEO in Its Workforce
GAO-19-573:Published: Jul 24, 2019. Publicly Released: Jul 24, 2019.
Veterans Health Care:
Opportunities Remain to Improve Appointment Scheduling within VA and through Community Care
GAO-19-687T:Published: Jul 24, 2019. Publicly Released: Jul 24, 2019.
K-12 Education:
School Districts' Efforts to Address Lead-Based Paint
GAO-19-461R:Published: Jul 9, 2019. Publicly Released: Jul 24, 2019.
Compacts of Free Association:
Trust Funds for Micronesia and the Marshall Islands Are Unlikely to Fully Replace Expiring U.S. Annual Grant Assistance
GAO-19-648T:Published: Jul 23, 2019. Publicly Released: Jul 23, 2019.
Disaster Assistance:
FEMA Has Taken Steps toward Better Supporting Individuals Who Are Older or Have Disabilities
GAO-19-652T:Published: Jul 23, 2019. Publicly Released: Jul 23, 2019.
Improved Oversight Needed to Better Protect Residents from Abuse
GAO-19-433: Published: Jun. 13, 2019 Publicly Released: Jul. 23, 2019
Nursing Homes:
Improved Oversight Needed to Better Protect Residents from Abuse
GAO-19-671T: Published: Jul. 23, 2019 Publicly Released: Jul. 23, 2019
Rail Transit:
Federal Transit Administration Could Improve Information on Estimating Project Costs
GAO-19-562: Published: Jul. 22, 2019 Publicly Released: Jul. 22, 2019
IRS
Orlando IRS Nationwide Tax Forum hosts seminars on cybersecurity, new tax law; Qualified Business Income sessions highly popular for tax pros
IR-2019-134, July 29, 2019 — Tax professionals who attend the IRS Nationwide Tax Forum in Orlando, Florida, will learn the latest on cybersecurity, ethics, tax law changes for 2019 and more.
August 1 IRS webinar to help employers, tax pros understand payroll taxes
IR-2019-133, July 29, 2019 — The Internal Revenue Service will conduct a webinar Aug. 1 for employers and tax professionals focusing on employment and payroll taxes.
IRS has begun sending letters to virtual currency owners advising them to pay back taxes, file amended returns; part of agency's larger efforts
IR-2019-132, July 26, 2019 — The IRS has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or did not report their transactions properly.
Tax Security 2.0 – A ‘Taxes-Security-Together’ Checklist – Step 2
IR-2019-131, July 23, 2019 — The IRS, state tax agencies and the nation’s tax industry today reminded all “professional tax preparers” that federal law requires them to create a written information security plan to protect their clients’ data.
NYS Dept. of Taxation and Finance
Recordkeeping Tips to Ensure You Receive Valuable Tax Credits
July 29, 2019
PCAOB
Chief Administrative Officer Suzanne Kinzer to Leave the PCAOB
(July 25)
SEC
Robert A. Cohen, Cyber Unit Chief, to Leave SEC After 15 Years of Service
2019-142 Washington D.C., July 29, 2019 —The Securities and Exchange Commission today announced that Robert A. Cohen, Chief of the Division of Enforcement's Cyber Unit, will be leaving the agency in August after 15 years of service.
SEC Issues Agenda for July 29 Meeting of the Fixed Income Market Structure Advisory Committee
2019-141Washington D.C., July 25, 2019 —The Securities and Exchange Commission today released the agenda for the July 29 meeting of the Fixed Income Market Structure Advisory Committee. The Commission established the advisory committee to provide a formal mechanism through which the Commission can receive advice and recommendations on fixed income market structure issues.
Facebook to Pay $100 Million for Misleading Investors About the Risks It Faced From Misuse of User Data
2019-140 Washington D.C., July 24, 2019 —The Securities and Exchange Commission today announced charges against Facebook Inc. for making misleading disclosures regarding the risk of misuse of Facebook user data. For more than two years, Facebook’s public disclosures presented the risk of misuse of user data as merely hypothetical when Facebook knew that a third-party developer had actually misused Facebook user data. Public companies must identify and consider the material risks to their business and have procedures designed to make disclosures that are accurate in all material respects, including not continuing to describe a risk as hypothetical when it has in fact happened.
SEC Awards Half-Million Dollars to Overseas Whistleblower
2019-138 Washington D.C., July 23, 2019 —The Securities and Exchange Commission today announced a half-million dollar award to an overseas whistleblower whose expeditious reporting helped the Commission bring a successful enforcement action. “The Commission’s whistleblower award program has reached an important milestone,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “With recent actions, more than $2 billion in monetary sanctions have been ordered against wrongdoers based on actionable information received by whistleblowers. This represents the direct and important role that whistleblowers, like the overseas whistleblower being awarded today, have in enforcement actions and the protection of investors.”
Emily Westerberg Russell Named Chief Counsel of Division of Trading and Markets
2019-139 Washington D.C., July 23, 2019 —The Securities and Exchange Commission today announced that Emily Westerberg Russell has been named Chief Counsel of the Division of Trading and Markets
TIGTA
July 26, 2019
Status of the Implementation of the Federal Financial Management Improvement Act [PDF]
»Highlights
July 25, 2019
Fiscal Year 2019 Statutory Audit of Compliance With Legal Guidelines Prohibiting the Use of Illegal Tax Protester and Similar Designations [PDF]
»Highlights
July 24, 2019
Review of the Internal Revenue Service’s Purchase Card Violations Report [PDF]
»Highlights