CBO

Cost Estimate
H.R. 4625, VA Caregiver Transparency Act
October 29, 2021
As ordered reported by the House Committee on Veterans’ Affairs on July 28, 2021

Report
Answer to a Question for the Record Following a Hearing on CBO’s Efforts to Enhance Its Transparency, Effectiveness, and Efficiency
October 28, 2021
The House Select Committee on the Modernization of Congress convened a hearing at which Phillip L. Swagel, CBO’s Director, testified. This document provides CBO’s answer to a question submitted for the record.

Cost Estimate
H.R. 2930, Safeguard Tribal Objects of Patrimony Act of 2021
October 28, 2021
As ordered reported by the House Committee on Natural Resources on October 13, 2021

Presentation
Information Sources for Policymakers: Congressional Budget Office 101
October 28, 2021
Presentation by Lara Robillard, an analyst in CBO’s Budget Analysis Division, at the AcademyHealth 2021 Health Policy Orientation.

Cost Estimate
S. 2299, CADETS Act
October 28, 2021
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on August 4, 2021

Report
The Distribution of Major Tax Expenditures in 2019
October 27, 2021
CBO examined how the benefits from major tax expenditures in the individual income tax and payroll tax systems were distributed among households in different income groups in 2019.

Cost Estimate
S. 1890, Protecting Consumers from Travel Fraud Act
October 26, 2021
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on June 16, 2021

Cost Estimate
S. 3003, Comprehensive and Overdue Support for Troops of War Act of 2021
October 26, 2021
As ordered reported by the Senate Committee on Veterans’ Affairs on October 19, 2021

Report
The Veterans Community Care Program: Background and Early Effects
October 26, 2021
CBO describes how the Department of Veterans Affairs provides health care to many veterans through the Veterans Community Care Program and how that program has affected veterans’ access to care and other outcomes.

Cost Estimate
H.R. 4369, National Centers of Excellence in Advanced and Continuous Pharmaceutical Manufacturing Act of 2021
October 25, 2021
As passed by the House of Representatives on October 19, 2021

Cost Estimate
H.R. 442, Southeast Alaska Regional Health Consortium Land Transfer Act
October 25, 2021
As ordered reported by the House Committee on Natural Resources on October 13, 2021

Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of October 25, 2021
October 25, 2021
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.

Cost Estimate
S. 2525, Domains Critical to Homeland Security Act
October 25, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 4, 2021

Cost Estimate
S. 316, Fly Safe and Healthy Act of 2021
October 25, 2021
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on May 12, 2021

Cost Estimate
H.R. 3263, DHS Medical Countermeasures Act
October 22, 2021
As passed by the House of Representatives on July 20, 2021

FASB

New FASB Standard Improves Consistency in Accounting for Acquired Revenue Contracts with Customers in a Business Combination [10/28/21]
Media Advisory
ASU 2021-08

GAO

COVID-19
Lessons Learned from Interior and Treasury's Administration of CARES Act Funds Could Improve Federal Emergency Relief to Tribes
GAO-22-104349
Published: Oct 29, 2021.
Publicly Released: Oct 29, 2021.
We found that the Departments of the Interior and Treasury faced challenges distributing over $8 billion in certain CARES Act funds for tribes. Also, Treasury's formula for allocating some of the funds used certain population data without consulting with tribes about the data's limitations.

Memorandum
Professional Standards Update No. 82
Published: Oct 28, 2021.
Publicly Released: Oct 29, 2021.
To alert the audit community to changes in professional standards, we periodically issue Professional Standards Updates (PSU). These updates highlight the effective dates and issuance of recent standards and guidance related to engagements conducted in accordance with Government Auditing Standards.

Nuclear Waste Cleanup
DOE Needs to Better Coordinate and Prioritize Its Research and Development Efforts
GAO-22-104490
Published: Oct 28, 2021.
Publicly Released: Oct 28, 2021.
Research and development has been essential in the Department of Energy's efforts to clean up significant contamination from decades of nuclear weapons production, but over time DOE has reduced funding designated for cleanup R&D.

Social Security Disability
Ticket to Work Helped Some Participants, but Overpayments Increased Program Costs
GAO-22-104031
Published: Oct 28, 2021.
Publicly Released: Oct 28, 2021.
The Ticket to Work program seeks to help those receiving Social Security disability benefits find jobs and reduce reliance on benefits.

COVID-19
Additional Actions Needed to Improve Accountability and Program Effectiveness of Federal Response
GAO-22-105051
Published: Oct 27, 2021
Publicly Released: Oct 27, 2021.
As the nation continues to respond to and recover from the COVID-19 pandemic, recent increases in cases have hampered these efforts and created new challenges. In our 8th comprehensive report, we found more ways to help the federal government address the pandemic and prepare for future emergencies.

Disaster Recovery
Efforts to Identify and Address Barriers to Receiving Federal Recovery Assistance
GAO-22-105488
Published: Oct 27, 2021
Publicly Released: Oct 27, 2021.
Disasters affect hundreds of American communities each year and cause billions of dollars in damage. While federal recovery assistance is available, many disaster survivors face barriers in accessing this assistance.

Veterans Health Care
Addressing High Risk Concerns for Oversight and Accountability Are Key to Ensuring Quality of Care and Patient Safety
GAO-22-105474
Published: Oct 27, 2021.
Publicly Released: Oct 27, 2021.
We testified about the Department of Veterans Affairs' ongoing struggles to oversee its health care system, including its ability to provide quality and safe care to veterans.

U.S. Agency for Global Media
Additional Actions Needed to Improve Oversight of Broadcasting Networks
GAO-22-104017
Published: Oct 27, 2021.
Publicly Released: Oct 27, 2021.
Through the U.S. Agency for Global Media, the U.S. funds international broadcasting networks—such as the Voice of America and the Middle East Broadcasting Networks—to bring unbiased news to countries where press freedom is restricted.

Department of Energy Contracting
NNSA Has Taken Steps to Improve Its Work Authorization Process, but Challenges Remain
GAO-22-103948
Published: Oct 27, 2021.
Publicly Released: Oct 27, 2021.
The National Nuclear Security Administration in the Department of Energy is responsible for the U.S. nuclear weapons stockpile. NNSA relies on 7 contractors to manage and operate its 8 lab and production sites.

FEMA Flood Maps
Better Planning and Analysis Needed to Address Current and Future Flood Hazards
GAO-22-104079
Published: Oct 25, 2021.
Publicly Released: Oct 25, 2021.
The Federal Emergency Management Agency maps flood hazard areas to help guide the National Flood Insurance Program and the flood mitigation efforts of property owners, community planners, insurers, and others. (The insurance program is on our High Risk List.

COVID-19 Pandemic
Observations on the Ongoing Recovery of the Aviation Industry
GAO-22-104429
Published: Oct 21, 2021.
Publicly Released: Oct 21, 2021.
The COVID-19 pandemic had a profound impact on the U.S. aviation industry. Passenger traffic in April 2020 was 96% lower than April 2019, and stayed 60% below 2019 levels in 2020. Effects cascaded across airports, repair shops, and the supply chain.

IASB

October 2021 monthly news summary
1 November 2021
NEWS SUMMARY

Addendum to September 2021 IFRIC Update now available
29 October 2021
UPDATE

October 2021 IASB Update available and work plan updated
29 October 2021
UPDATE

November 2021 Capital Markets Advisory Committee meeting papers available
28 October 2021
MEETING

Compilation of Agenda Decisions—Volume 5 published
28 October 2021
AGENDA DECISION

Watch our short webcast series on the Exposure Draft Management Commentary
27 October 2021
WEBCAST

Join the Staff—Customer Services Representative
26 October 2021

IRS

Child Tax Credit: Families with income changes must enter them in IRS online portal on Monday to impact Nov. 15 payment; Spanish version coming in late November
IR-2021-211, October 29, 2021 — On Monday, November 1, the Internal Revenue Service will launch a new feature allowing any family receiving monthly Child Tax Credit payments to update their income using the Child Tax Credit Update Portal (CTC UP), found exclusively on IRS.gov.

Additional Hurricane Ida relief from IRS: Sept. 15, Oct. 15 deadlines, other dates further extended to Jan. 3 for parts of Mississippi; Nov. 1 deadline still applies to the rest of the state
IR-2021-210, October 27, 2021 — Victims of Hurricane Ida in parts of Mississippi now have additional time – until January 3, 2022 – to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

SEC

SEC Charges Newport Beach Company and its Principals with Operating a $13.5 Million Ponzi-Like Scheme
2021-221, Oct. 29, 2021 — The Securities and Exchange Commission today announced that it has charged BNZ, a Newport Beach, California-based company, and its co-founders and co-managers Brett Barber and Louis Zimmerle, for fraudulently raising $13.5 million from more than 100 retail investors.

SEC Awards More Than $2 Million to Whistleblower for Successful Related Action
2021-220, Oct. 29, 2021 — The Securities and Exchange Commission today announced an award of more than $2 million to a whistleblower who provided information that led to a successful related action by the U.S. Department of Justice.

Post-SPAC Music Streaming Company Reaches $38.8 Million Settlement in Ongoing Fraud Action
2021-216, Oct. 27, 2021 — The Securities and Exchange Commission today announced a $38.8 million settlement of charges against Akazoo S.A., a purported music streaming business based in Greece, for allegedly defrauding investors out of tens of millions of dollars in connection with a 2019 special purpose acquisition company (SPAC) business combination. Akazoo's assets were previously frozen as the result of an emergency action filed by the SEC in September 2020.

SEC Issues Agendas for October 28 and November 3 Meetings of the Asset Management Advisory Committee
2021-215, Oct. 26, 2021 — The Securities and Exchange Commission today released the agendas for the Oct. 28 and Nov. 3 meetings of the Asset Management Advisory Committee (AMAC).

SEC Obtains Asset Freeze and Other Relief in Halting Penny Stock Scheme on Twitter
2021-214, Oct. 26, 2021 — The Securities and Exchange Commission today announced that it filed an emergency action, and obtained an injunction and asset freeze, against Steven M. Gallagher for allegedly committing securities fraud through a long running scheme to manipulate stocks using Twitter.