Regulatory Roundup - Feb. 4-10

By:
Chris Gaetano
Published Date:
Feb 10, 2020

AICPA 

AICPA Now Accepting Applicants to George Willie Scholarship Program
AICPA is now accepting applications for the George Willie Scholarship Program.
February 4, 2020

CBO

Report
Monthly Budget Review for January 2020
February 7, 2020
The federal budget deficit was $388 billion for the first four months of fiscal year 2020, CBO estimates, $78 billion more than the deficit recorded during the same period last year.

Blog Post
Recent Changes in CBO’s Projections of Corporate Income Tax Revenues
February 7, 2020
CBO has reduced its projections of corporate income tax receipts for the 2020–2029 period by $127 billion (or about 4 percent). That change from the agency’s August 2019 projections arose from several sources.

Presentation
An Overview of The Budget and Economic Outlook: 2020 to 2030
February 6, 2020
In CBO’s current-law projections, deficits remain large by historical standards, federal debt grows to 98 percent of GDP by 2030, and the economy expands at an average annual rate of 1.7 percent from 2021 to 2030.

Report
Automatic Stabilizers in the Federal Budget: 2020 to 2030
February 6, 2020
In this report, CBO projects the budgetary effects of automatic stabilizers—as well as the size of deficits without them—from 2020 to 2030 and provides historical estimates of the stabilizers’ effects since 1970.

Cost Estimate
H.R. 4998, Secure and Trusted Communications Networks Act of 2019
February 6, 2020
As passed by the House of Representatives on December 16, 2019

Report
How Changes in Economic Conditions Might Affect the Federal Budget: 2020 to 2030
February 6, 2020
To show how the federal budget might be affected if economic conditions differed from those in its current economic forecast, CBO has developed “rules of thumb” that provide a sense of how changes in four key economic variables would affect revenues, outlays, and deficits.

Interactive
Workbook for How Changes in Economic Conditions Might Affect the Federal Budget, February 2020
February 6, 2020
This workbook allows users to enter an alternative scenario for productivity growth, labor force growth, inflation, or interest rates and see estimates of revenues, several types of spending, and deficits under those scenarios.

Report
Expired and Expiring Authorizations of Appropriations: Fiscal Year 2020
February 5, 2020
CBO reports annually to the Congress on programs whose authorizations of appropriations have already expired or will expire during the current fiscal year.

Cost Estimate
H.R. 1240, Young Fishermen’s Development Act
February 5, 2020
As ordered reported by the House Committee on Natural Resources on January 29, 2020

Cost Estimate
H.R. 4328, Protecting Innocent Consumers Affected by a Shutdown Act
February 5, 2020
As ordered reported by the House Committee on Financial Services on September 20, 2019

Cost Estimate
H.R. 4990, Election Technology Research Act of 2019
February 5, 2020
As ordered reported by the House Committee on Science, Space, and Technology on November 14, 2019

Cost Estimate
S. 2997, Title VII Health Care Workforce Reauthorization Act of 2019
February 5, 2020
As reported by the Senate Committee on Health, Education, Labor, and Pensions on December 17, 2019

Cost Estimate
H.R. 2199, Central Coast Heritage Protection Act
February 4, 2020
As ordered reported by the House Committee on Natural Resources on November 20, 2019

Cost Estimate
H.R. 2250, Northwest California Wilderness, Recreation, and Working Forests Act
February 4, 2020
As ordered reported by the House Committee on Natural Resources on November 20, 2019

Cost Estimate
H.R. 617, Department of Energy Veterans’ Health Initiative Act
February 4, 2020
As reported by the Senate Committee on Energy and Natural Resources on December 17, 2019

Cost Estimate
S. 2560, Congressional Budget Justification Transparency Act of 2019
February 4, 2020
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 6, 2019

Cost Estimate
H.R. 2215, San Gabriel Mountains Foothills and Rivers Protection Act
As ordered reported by the House Committee on Natural Resources on November 20, 2019
Cost Estimate

H.R. 2642, Wild Olympics Wilderness and Wild and Scenic Rivers Act
As ordered reported by the House Committee on Natural Resources on December 5, 2019
Cost Estimate

H.R. 3571, City and State Diplomacy Act
As ordered reported by the House Committee on Foreign Affairs on December 18, 2019

Cost Estimate
H.R. 3941, FedRAMP Authorization Act
As ordered reported by the House Committee on Oversight and Reform on December 19, 2019

Cost Estimate
H.R. 5687, Emergency Supplemental Appropriations for Disaster Relief and Puerto Rico Disaster Tax Relief Act
As introduced on January 28, 2020

Cost Estimate
S. 1685, Launching Energy Advancement and Development through Innovations for Natural Gas Act of 2019
As reported by the Senate Committee on Energy and Natural Resources on September 25, 2019

Cost Estimate
S. 2453, SAVE Right Whales Act
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on November 13, 2019

Cost Estimate
H.R. 2245, CECIL Act
As ordered reported by the House Committee on Natural Resources on September 18, 2019

Cost Estimate
H.R. 2382, USPS Fairness Act
As introduced on April 29, 2019

Cost Estimate
H.R. 948, No Oil Producing and Exporting Cartels Act of 2019
As ordered reported by the House Committee on the Judiciary on February 7, 2019
Cost Estimate

S. 2425, CHP Support Act of 2019
As reported by the Senate Committee on Energy and Natural Resources on December 17, 2019
Cost Estimate

S. 2775, HACKED Act of 2019
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on November 13, 2019

Cost Estimate
S. 876, Energy Jobs for our Heroes Act of 2019
As reported by the Senate Committee on Energy and Natural Resources on December 17, 2019

Cost Estimate
S. 982, Not Invisible Act of 2019
As ordered reported by the Senate Committee on Indian Affairs on November 20, 2019

GAO

Defense Health Care:
Plans Needed to Ensure Implementation of Required Elements for TRICARE's Managed Care Support Contracts
GAO-20-197:Published: Feb 7, 2020. Publicly Released: Feb 7, 2020.

Aviation Maintenance:
Additional Coordination and Data Could Advance FAA Efforts to Promote a Robust, Diverse Workforce
GAO-20-206:Published: Feb 6, 2020. Publicly Released: Feb 6, 2020.

Cost Accounting Standards: 
Board Has Taken Initial Steps to Meet Recent Legislative Requirements
GAO-20-266:Published: Feb 6, 2020. Publicly Released: Feb 6, 2020.

Election Security:
DHS Plans Are Urgently Needed to Address Identified Challenges Before the 2020 Elections
GAO-20-267:Published: Feb 6, 2020. Publicly Released: Feb 6, 2020.

Emergency Alerting:
Agencies Need to Address Pending Applications and Monitor Industry Progress on System Improvements
GAO-20-294:Published: Feb 6, 2020. Publicly Released: Feb 6, 2020.

Federal Real Property:
GSA Should Improve Accuracy, Completeness, and Usefulness of Public Data
GAO-20-135:Published: Feb 6, 2020. Publicly Released: Feb 6, 2020.

Federal Rulemaking:
Selected Agencies Should Clearly Communicate How They Post Public Comments and Associated Identity Information
GAO-20-413T:Published: Feb 6, 2020. Publicly Released: Feb 6, 2020.

VA Acquisition Management:
Steps Needed to Ensure Healthcare Federal Supply Schedules Remain Useful
GAO-20-132:Published: Jan 9, 2020. Publicly Released: Feb 6, 2020.

Arctic Capabilities:
Coast Guard Is Taking Steps to Address Key Challenges, but Additional Work Remains
GAO-20-374T:Published: Feb 5, 2020. Publicly Released: Feb 5, 2020.

Coast Guard:
Initiatives to Address Aids to Navigation Challenges Could be Enhanced to Better Ensure Effective Implementation
GAO-20-107:Published: Feb 5, 2020. Publicly Released: Feb 5, 2020.

International Boundary and Water Commission:
Opportunities Exist to Address Water Quality Problems
GAO-20-307:Published: Feb 5, 2020. Publicly Released: Feb 5, 2020.

Military Personnel:
DOD Has Made Limited Progress toward Improving Oversight of the Exceptional Family Member Program
GAO-20-400T:Published: Feb 5, 2020. Publicly Released: Feb 5, 2020.

Puerto Rico Disaster Recovery:
FEMA Actions Needed to Strengthen Project Cost Estimation and Awareness of Program Guidance
GAO-20-221:Published: Feb 5, 2020. Publicly Released: Feb 5, 2020.

Recuperación de Desastres en Puerto Rico:
Acciones de FEMA son Necesarias para Fortalecer la Calculación de Costos de Proyectos y el Conocimiento de las Directrices del Programa
GAO-20-381:Published: Feb 5, 2020. Publicly Released: Feb 5, 2020.

Information Technology:
DHS Directives Have Strengthened Federal Cybersecurity, but Improvements Are Needed
GAO-20-133:Published: Feb 4, 2020. Publicly Released: Feb 4, 2020.

Campaign Finance:
Federal Framework, Agency Roles and Responsibilities, and Perspectives

GAO-20-66R: Published: Feb. 3, 2020 Publicly Released: Feb. 3, 2020

GASB

GASB Issues Omnibus Statement Addressing Wide Range of Practice Issues  [02/05/20]
Media Advisory
Statement No. 92

GASB Outlook E-Newsletter Winter 2020  [02/04/20]
Newsletter

IASB

05 February 2020
January 2020 IASB podcast available now

IRS

‚ÄčIRS launches Identity Theft Central
IR-2020-27, February 3, 2020 — The IRS today launched Identity Theft Central, designed to improve online access to information on identity theft and data security protection for taxpayers, tax professionals and businesses.

SEC

SEC Investor Advisory Committee to Meet on Feb. 27
2020-30., Feb. 7, 2020 —The Securities and Exchange Commission's Investor Advisory Committee will hold a public meeting on Feb. 27.  The meeting will begin at 9:30 a.m. ET in the Multipurpose Room at SEC headquarters at 100 F Street, N.E., Washington, D.C., and is open to the public. The meeting will be webcast live and archived on the committee's website for later viewing.

ABN AMRO Clearing Chicago Charged With Improper Handling of ADRs
2020-29., Feb. 6, 2020 — The Securities and Exchange Commission today announced that ABN AMRO Clearing Chicago LLC will pay more than $586,000 to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).

SEC Issues Agenda for February 10 Meeting of the Fixed Income Market Structure Advisory Committee
2020-28, Feb. 6, 2020 —The Securities and Exchange Commission today released the agenda for the Feb. 10 meeting of the Fixed Income Market Structure Advisory Committee (FIMSAC). The Commission established the FIMSAC to provide a formal mechanism through which the Commission can receive advice and recommendations on fixed income market structure issues.

SEC Wins Jury Trial Against Massachusetts Man Charged in Multi-Year Insider Trading Scheme
2020-27, Feb. 4, 2020 — Yesterday evening, jurors in Boston federal court returned a verdict finding that Lexington, Massachusetts restauranteur Charlie Chen engaged in illegal insider trading in advance of five earnings announcements of Lexington-based company Vistaprint, N.V.

TIGTA

February 5, 2020
Active Directory Oversight Needs Improvement [PDF]
»Highlights

February 3, 2020
Complexity and Insufficient Oversight of the Free File Program Result in Low Taxpayer Participation [PDF]
»Highlights


Click here to see more of the latest news from the NYSSCPA.