Regulatory Roundup: May 2-8
CBO
Cost Estimate
H.R. 1734, TRANQ Research Act
May 5, 2023
As ordered reported by the House Committee on Science, Space, and Technology on March 29, 2023
Cost Estimate
H.R. 801, Securing the Border for Public Health Act of 2023
May 5, 2023
As ordered reported by the House Committee on Energy and Commerce on March 24, 2023
Presentation
Long-Term Projections of Health Care Spending and the Implications for the Federal Budget
May 5, 2023
Presentation by Julie Topoleski, Director of CBO’s Labor, Income Security, and Long-Term Analysis Division, at the 15th Annual Meeting of the OECD’s Working Party of Parliamentary Budget Officials and Independent Fiscal Institutions.
Cost Estimate
H.R. 589, Mahsa Amini Human Rights and Security Accountability Act
May 4, 2023
As ordered reported by the House Committee on Foreign Affairs on April 26, 2023
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of May 8, 2023
May 4, 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.
Presentation
Estimated Costs of the Proposed Rule on Income-Driven Repayment
May 3, 2023
Presentation by Leah Koestner, an analyst in CBO’s Budget Analysis Division, at the American Enterprise Institute.
Cost Estimate
H.R. 1690, Orderly Requirements Designed to Enforce and Regulate Latin American Migration Act
May 2, 2023
As ordered reported by the House Committee on Foreign Affairs on April 28, 2023
Cost Estimate
S. 112, a bill to amend title 38, United States Code, to strengthen benefits for children of Vietnam veterans born with spina bifida, and for other purposes
May 2, 2023
As ordered reported by the Senate Committee on Veterans’ Affairs on February 16, 2023
Cost Estimate
S. 479, Fire Suppression and Response Funding Assurance Act
May 2, 2023
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on March 29, 2023
Blog Post
CBO Sees Greater Risk That the Treasury Will Run Out of Funds in Early June
May 1, 2023
Because tax receipts through April have been less than CBO anticipated in February, the agency now estimates that there is a significantly greater risk that the Treasury will run out of funds in early June if the debt ceiling is unchanged.
Cost Estimate
H.R. 1735, Mathematical and Statistical Modeling Education Act
May 1, 2023
As ordered reported by the House Committee on Science, Space, and Technology on March 29, 2023
Cost Estimate
H.R. 554, Taiwan Conflict Deterrence Act of 2023
May 1, 2023
As ordered reported by the House Committee on Financial Services on February 28, 2023
FASB
Private Company Council Meeting Recap—April 25, 2023
May 5, 2023
GAO
Midwives:
Information on Births, Workforce, and Midwifery Education
GAO-23-105861
Published:
Publicly Released:
Midwives provide care during pregnancy and birth, and may attend births in hospitals, birth centers, or homes. In 2021, midwives attended 12% of births in the U.S. We found that the number of midwives and midwifery students in the U.S. has increased—although the extent of care they can provide varies by state. Also, some students may have trouble with the cost of education and the...
National Institutes of Health:
Better Data Will Improve Understanding of Federal Contributions to Drug Development
GAO-23-105656
Published:
Publicly Released:
The National Institutes of Health—the largest public funder of biomedical research in the U.S.—invests billions of dollars each year to help develop new drugs or new uses for existing drugs. But the extent of NIH's contributions to drug development isn't well understood or recognized by the public. One reason may be that recipients of NIH funds aren't always disclosing agency support fully or correctly when...
VA Health Care:
Office of Rural Health Would Benefit from Improved Communication and Developing Performance Goals
GAO-23-105855
Published:
Publicly Released:
Access to health care is critical for veterans, particularly those living in rural areas. The Veterans Health Administration's Office of Rural Health funds research and initiatives aimed at improving the health of veterans living in rural areas. In 2022, ORH supported 120 research projects. But it informs researchers of funding opportunities via word-of-mouth and existing relationships, leaving some researchers potentially unaware. Also, ORH knows what...
VA Whistleblowers:
Resolution Process for Retaliation Claims
GAO-23-106111
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 report covers our observations on cases reported to the federal Office of Special Counsel. From FY 2018-22: 69% of cases involving VA employees included claims of whistleblower retaliation The...
FEMA Disaster Workforce:
Actions Needed to Improve Hiring Data and Address Staffing Gaps
GAO-23-105663
Published:
Publicly Released:
Demand for Federal Emergency Management Agency help has increased with more frequent and complex disasters like hurricanes, wildfires, and the COVID-19 pandemic. FEMA is a key federal agency that helps respond to and recover from such disasters. But FEMA has had trouble building a workforce to meet these needs. It has fallen short of its yearly staffing target since 2019—and that gap continues to grow...
Grants Management:
Observations on Challenges with Access, Use, and Oversight
GAO-23-106797
Published:
Publicly Released:
Federal grants play a key role in funding national priorities, like responding to the COVID-19 pandemic. The government provides hundreds of billions of dollars for grants annually. This testimony covers our body of work on federal grants management challenges, including: Capacity—financial and resource issues make it harder to access grants Streamlining—burdensome requirements for managing grants make programs more expensive Transparency—better public reporting of how grants...
Military Readiness:
Improvement in Some Areas, but Sustainment and Other Challenges Persist
GAO-23-106673
Published:
Publicly Released:
We testified that the Department of Defense faces several challenges as it works to rebuild and restore readiness across the military while also modernizing its forces. For example, we've previously reported: the Navy's ship maintenance backlog has grown to $1.8 billion maintenance and supply issues limit the availability of aging aircraft space readiness goals are unclear Although the readiness of ground forces—such as the Army...
IASB
Join the staff—Customer Success Associate
Careers
5 May 2023
May 2023 International Sustainability Standards Board agenda and meeting paper now available
Meeting
5 May 2023
May 2023 supplementary IASB Update now available
Update
5 May 2023
Statement on the death of former IASB Vice-Chair Ian Mackintosh
Statement
5 May 2023
Compilation of Agenda Decisions—Volume 8 published
Agenda Decision
4 May 2023
The ISSB seeks feedback on its priorities for the next two years
Consultation
4 May 2023
April 2023 IASB podcast now available
Podcast
3 May 2023
April 2023 Sustainability Consultative Committee meeting summary now available
Meeting
3 May 2023
April 2023 monthly news summary now available
Meeting
3 May 2023
Addendum to the March 2023 IFRIC Update now available
Update
2 May 2023
April 2023 IASB Update now available and work plan updated
Update
2 May 2023
May 2023 Emerging Economies Group agenda and meeting papers now available
Meeting
2 May 2023
IRS
IRS: Going green could help taxpayers qualify for expanded home energy tax credits
IR-2023-97, May 4, 2023 — The Internal Revenue Service reminds taxpayers that making certain energy efficient updates to their homes could qualify them for home energy tax credits.
National Small Business Week: IRS.gov offers A-Z resources for small businesses
IR-2023-96, May 3, 2023 — The Internal Revenue Service today encouraged small businesses to take advantage of the numerous resources available on IRS.gov. As part of National Small Business Week April 30 to May 6, the IRS is highlighting tax benefits and resources to help small businesses.
National Small Business Week advice from the IRS: Plan now to take advantage of new and existing tax benefits, prepare for reporting changes
IR-2023-95, May 2, 2023 — The IRS today urged business taxpayers to begin planning now to take advantage of tax-saving opportunities and get ready for reporting changes that take effect in 2023.
IRS: Florida storm victims qualify for tax relief; April 18 deadline, other dates extended to Aug. 15
IR-2023-94, May 2, 2023 — Florida storm victims now have until Aug. 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today.
NYS
PCAOB
VIDEO: Chair Williams Keynotes Baruch Conference on Financial Reporting
May 4, 2023
PCAOB Enhances Transparency of Inspection Reports With New Section on Auditor Independence and More
May 2, 2023
SEC
SEC Charges Investment Adviser and Fund Trustees with Liquidity Rule Violations
2023-90
Washington D.C., May 5, 2023 — The Securities and Exchange Commission today announced charges against investment adviser Pinnacle Advisors LLC for aiding and abetting Liquidity Rule violations by a mutual fund it advised and whose Liquidity Risk Management Program it administered. The SEC also charged the fund’s two independent trustees, Mark Wadach and Lawton “Charlie” Williamson, and two officers of both Pinnacle Advisors and of the fund it advised, Robert Cuculich and Benjamin Quilty, with aiding and abetting Liquidity Rule violations by the fund. A third trustee, Joseph Masella, agreed to settle charges that he caused and willfully counseled the fund’s violations.
SEC Issues Largest-Ever Whistleblower Award
2023-89
Washington D.C., May 5, 2023 — The Securities and Exchange Commission today announced the largest-ever award, nearly $279 million, to a whistleblower whose information and assistance led to the successful enforcement of SEC and related actions. This is the highest award in the SEC’s whistleblower program’s history, more than doubling the $114 million whistleblower award the SEC issued in October 2020.
SEC Charges Advisory Firm and Part-Owner for Breach of Fiduciary Duty in Connection with Use of Leveraged ETFs
2023-88
Washington D.C., May 4, 2023 — The Securities and Exchange Commission today announced settled charges against Fargo, North Dakota-based investment adviser Classic Asset Management LLC (CAM) and indirect part-owner and investment adviser representative Douglas G. Schmitz for breach of fiduciary duty in connection with the use of leveraged exchange traded funds (ETFs) in discretionary client accounts.
SEC Announces New Members of Small Business Capital Formation Advisory Committee
2023-87
Washington D.C., May 4, 2023 — The Securities and Exchange Commission today announced 14 new members of the Small Business Capital Formation Advisory Committee. The new members were appointed to four-year terms to fill vacancies arising primarily from the expiration of prior members’ terms.
SEC Adopts Amendments to Enhance Private Fund Reporting
2023-86
Washington D.C., May 3, 2023 — The Securities and Exchange Commission today adopted amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. The amendments are designed to enhance the ability of the Financial Stability Oversight Council (FSOC) to assess systemic risk and to bolster the Commission’s oversight of private fund advisers and its investor protection efforts.
SEC Adopts Amendments to Modernize Share Repurchase Disclosure
2023-85
Washington D.C., May 3, 2023 — The Securities and Exchange Commission today adopted amendments to modernize the disclosure requirements relating to repurchases of an issuer’s equity securities, including requiring issuers to provide daily repurchase activity on a quarterly or semi-annual basis, depending on the type of issuer. The amendments will improve disclosure and provide investors with enhanced information to assess the purposes and effects of share repurchases.
SEC Alleges Son and Father-in-Law Touted Faith to Target Church Members in $20 Million Offering Fraud
2023-84
Washington D.C., May 2, 2023 — The Securities and Exchange Commission today charged Brett M. Bartlett, his father-in-law Scott A. Miller, and their companies for fraudulent securities offerings that raised at least $20.5 million, some of which Bartlett and Miller misused for personal expenses.
TIGTA
The Knowledge Management Program Will Benefit From Addressing User Concerns and Improving Performance Measures and Controls Over Employee Costs
Report Number 2023-30-024
May 3, 2023