Regulatory Roundup: September 7-12
CBO
Presentation
An Introduction to the OECD Working Party of Parliamentary Budget Officials and Independent Fiscal Institutions
September 9, 2022
Presentation by Mark Hadley, CBO’s Chief Operating Officer and General Counsel, at the International Monetary Fund.
Cost Estimate
H.R. 4275, Ensuring Phone and Internet Access Through Lifeline and Affordable Connectivity Program Act of 2022
September 9, 2022
As ordered reported by the House Committee on Energy and Commerce on July 13, 2022
Cost Estimate
H.R. 6181, A bill to reaffirm that certain land has been taken into trust for the benefit of the Samish Indian Nation, and for other purposes
September 9, 2022
As ordered reported by the House Committee on Natural Resources on June 15, 2022
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of September 12, 2022
September 9, 2022
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
Monthly Budget Review: August 2022
September 9, 2022
The federal budget deficit was $944 billion in the first 11 months of fiscal year 2022, the CBO estimates—$1.8 trillion less than it was at the same point last year.
Blog Post
Upcoming Presentations
September 9, 2022
CBO’s Director, Phillip Swagel, discusses his recent and upcoming presentations.
Cost Estimate
H.R. 370, Quadrennial Homeland Security Review Technical Corrections Act of 2021
September 8, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 3, 2022
Cost Estimate
H.R. 6825, Nonprofit Security Grant Program Improvement Act of 2022
September 8, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 3, 2022
Report
How the Federal Reserve’s Quantitative Easing Affects the Federal Budget
September 8, 2022
In this report, CBO examines the mechanisms by which quantitative easing — large asset purchasing programs conducted by the Federal Reserve— affects the federal budget deficit.
Cost Estimate
S. 1116, Federal Firefighters Fairness Act of 2022
September 8, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on May 25, 2022
Cost Estimate
Estimated Budgetary Effects of Public Law 117-169, to Provide for Reconciliation Pursuant to Title II of S. Con. Res. 14
September 7, 2022
Public Law 117-169 as enacted on August 16, 2022
Presentation
How CBO Forecasts Inflation
September 7, 2022
Presentation by Bob Arnold, Unit Chief in CBO's Macroeconomic Analysis Division, to the Society of Actuaries.
Cost Estimate
S. 3552, Targeting Resources to Communities in Need Act of 2022
September 7, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on May 25, 2022
Cost Estimate
S. 3677, Post-Disaster Mental Health Response Act
September 7, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on March 30, 2022
Cost Estimate
S. 4553, Extension of Department of Homeland Security Other Transaction Authority Act of 2022
September 7, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 3, 2022
Cost Estimate
S. 4577, Clear and Concise Content Act of 2022
September 7, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 3, 2022
Cost Estimate
H.R. 4531, 7(a) Loan Agent Oversight Act
September 6, 2022
As passed by the House of Representatives on November 2, 2021
Cost Estimate
H.R. 6290, Manufacturing.gov Act
September 6, 2022
As ordered reported by the House Committee on Energy and Commerce on July 20, 2022
Cost Estimate
H.R. 8259, Arms Exports Delivery Solutions Act
September 6, 2022
As ordered reported by the House Committee on Foreign Affairs on July 28, 2022
GAO
Maritime Administration
Actions Needed to Enhance Cargo Preference Oversight
GAO-22-105160
Published: Sep 12, 2022.
Publicly Released: Sep 12, 2022.
What GAO Found Federal “cargo preference” laws, regulations, and policies require that when cargo owned or financed by the federal government is shipped internationally, certain percentages of that cargo be carried on vessels registered in the United States (U.S.-flag vessels). The Maritime Administration...
National Security Snapshot
U.S. Support for the War in Ukraine
GAO-22-106079
Published: Sep 08, 2022.
Publicly Released: Sep 08, 2022.
GAO has a large body of work assessing areas relevant to the war in Ukraine, which underscores the importance of five national security considerations and key relevant GAO recommendations. For more information, contact Cathleen A. Berrick at (202) 512-3404 or BerrickC@gao.gov or Cary B. Russell at (202).
Priority Open Recommendations
Office of the Director of National Intelligence
GAO-22-105852
Published: Sep 01, 2022.
Publicly Released: Sep 08, 2022.
What GAO Found In September 2022, GAO identified 19 priority recommendations for the Office of the Director of National Intelligence (ODNI). These recommendations involve the following areas: intelligence enterprise management; infrastructure and facilities; workforce management; and personnel vetting
Bank Supervision
Lessons Learned from Remote Supervision during Pandemic Could Inform Future Disruptions
GAO-22-104659
Published: Sep 08, 2022.
Publicly Released: Sep 08, 2022.
What GAO Found To assess challenges that COVID-19 posed to their supervisory missions, the federal banking regulators convened working groups to assess risks related to conducting fully remote bank examinations, among other actions. The regulators are the Consumer Financial Protection Bureau (CFPB),...
Homelessness
VA Provides Support to the Most Vulnerable Women Veterans and Has Taken Steps to Improve Services
GAO-22-105360
Published: Sep 08, 2022.
Publicly Released: Sep 08, 2022.What GAO Found From fiscal years 2017 through 2021, the Department of Veterans Affairs' (VA) Supportive Services for Veteran Families (SSVF) program served about 11,100 women veterans annually, making up about 13 percent of all veterans served each year. About 40 percent of these women veterans had children...
Science & Tech Spotlight
Brain-Computer Interfaces
GAO-22-106118
Published: Sep 08, 2022.
Publicly Released: Sep 08, 2022.
Why This Matters Brain-computer interfaces allow people to control machines using their thoughts. These interfaces can help people with disabilities as well as enhance human-computer interactions. For example, warfighters might operate a drone hands-free on the battlefield. However, the technology remains...
NASA Lunar Programs
Improved Mission Guidance Needed as Artemis Complexity Grows
GAO-22-105323
Published: Sep 08, 2022.
Publicly Released: Sep 08, 2022.
What GAO Found The National Aeronautics and Space Administration (NASA) plans to conduct Artemis missions—a series of missions that will return astronauts to the moon, build a sustainable lunar presence, and ultimately bring humans to Mars—into the 2030s. Artemis Missions and the Number of Programs...
Coronavirus Food Assistance Program
USDA Should Conduct More Rigorous Reviews of Payments to Producers
GAO-22-104397
Published: Sep 08, 2022.
Publicly Released: Sep 08, 2022.
What GAO Found The Coronavirus Food Assistance Program (CFAP) provided producers $31.0 billion for various commodities. Specifically, the U.S. Department of Agriculture (USDA) paid producers $13.8 billion for field crops; $9.8 billion for livestock; $3.0 billion for dairy; and $4.4 billion for other...
National Security Space
Actions Needed to Better Use Commercial Satellite Imagery and Analytics
GAO-22-106106
Published: Sep 07, 2022.
Publicly Released: Sep 07, 2022.
What GAO Found The U.S. intelligence community (IC) and the Department of Defense (DOD) have not clarified roles and responsibilities for the acquisition of commercial satellite imagery. The National Reconnaissance Office (NRO) is the central acquirer of commercial satellite imagery for IC and DOD components;...
Science, Technology Assessment, and Analytics at GAO
September 2022 Update
GAO-22-900426
Published: Sep 07, 2022.
Publicly Released: Sep 07, 2022.
STAA by the Numbers STAA's interdisciplinary STEM expertise provides Congress with timely and relevant analysis of complex science & technology (S&T) issues. Since the team's founding in 2019 it has... Issued 46 foresight-oriented assessments and short-form explainers on S&T issues Testified...
Federal Real Property
GSA Could Further Support Agencies' Post-Pandemic Planning for Office Space Use
GAO-22-105105
Published: Sep 07, 2022.
Publicly Released: Sep 07, 2022.
What GAO Found Federal agencies reported making limited initial changes to leased and owned office space due to the pandemic, but many reported plans to reduce space going forward. Specifically, from March 2020 to March 2022, 17 of 24 major federal agencies GAO surveyed reported the pandemic resulted...
Science, Technology Assessment, and Analytics at GAO
September 2022 Update
GAO-22-900426
Published: Sep 07, 2022.
Publicly Released: Sep 07, 2022.
STAA by the Numbers STAA's interdisciplinary STEM expertise provides Congress with timely and relevant analysis of complex science & technology (S&T) issues. Since the team's founding in 2019 it has... Issued 46 foresight-oriented assessments and short-form explainers on S&T issues Testified..
Coast Guard
Additional Actions Needed to Improve Tsunami Emergency Planning in the Pacific Northwest
GAO-22-105220
Published: Sep 07, 2022.
Publicly Released: Sep 07, 2022.
What GAO Found Among the 39 U.S. Coast Guard units on the Pacific Northwest coast, 19 had a written tsunami evacuation plan for unit personnel. Coast Guard does not ensure units in this seismically active region of the United States create tsunami evacuation plans. Rather, each unit's leadership determines...
IFRS
IASB September meeting agenda updated in the light of UK public national holiday for Her Majesty Queen Elizabeth II’s funeral
Meeting
12 Sep 2022
September 2022 International Sustainability Standards Board agenda and meeting papers now available
Meeting
9 Sept 2022
IASB publishes proposals to update its Accounting Standard for small and medium-sized entities
Consultation
8 Sept 2022
IFRS Foundation talks accounting and sustainability matters at Meet the Experts
Conference
7 Sept 2022
IFRS Foundation announces appointments to Sustainability Consultative Committee
Appointment
6 Sept 2022
Call for new members to join the Global Preparers Forum in 2022
Appointment
5 Sept 2022
IRS
IRS: Sept. 15 is the deadline for third quarter estimated tax payments
IR-2022-157, September 6, 2022 – The Internal Revenue Service reminds taxpayers who pay estimated taxes that the deadline to submit their third quarter payment is September 15, 2022.
SEC
SEC Charges Hudson Advisors and Lone Star Global for Failing to Disclose that Fund Fees Included More Than $50 Million of Owner’s Income Tax Liability
2022-159, Sept. 12, 2022
The Securities and Exchange Commission announced charges today against registered investment advisers Hudson Advisors L.P. and Lone Star Global Acquisitions Ltd. for including Hudson’s owner’s anticipated income tax liability as a component of certain fees charged to 14 private equity funds they managed. Hudson and Lone Star Global have agreed to pay $11.2 million in civil penalties and have reimbursed the affected funds $68.5 million, which includes interest on the undisclosed tax liability charges.
SEC Division of Corporation Finance to Add Industry Offices Focused on Crypto Assets and Industrial Applications and Services
2022-158, Sept. 9, 2022
The Securities and Exchange Commission today announced plans to add an Office of Crypto Assets and an Office of Industrial Applications and Services to the Division of Corporation Finance's Disclosure Review Program (DRP). The DRP has long had offices to review company filings by issuers. The two new offices will join the seven existing offices that provide focused review of issuer filings and that are grouped by industry expertise to further the Division’s work to promote capital formation and protect investors. The DRP anticipates the new offices will be established later this fall.
SEC Adopts JOBS Act Inflation Adjustments
2022-157, Sept. 9, 2022
The Securities and Exchange Commission today adopted amendments to its rules to implement inflation adjustments mandated by the Jumpstart Our Business Startups (JOBS) Act. The SEC is required to make inflation adjustments to certain JOBS Act rules at least once every five years. The new thresholds will become effective when they are published in the Federal Register.
SEC Charges Two Advisory Firms for Custody Rule Violations, One for Form ADV Violations, and Six for Both
2022-156, Sept. 9, 2022
The Securities and Exchange Commission today announced charges against a number of investment advisers that failed to comply with requirements relating to safekeeping client assets and/or to timely update their SEC disclosures to reflect the status of audits of financial statements for the private funds they advised.
TIGTA