Regulatory Roundup - July 13-19

By:
Chris Gaetano
Published Date:
Jul 19, 2021

CBO


Cost Estimate

CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 3985, the Allies Act of 2021

July 16, 2021

As Introduced in the House of Representatives on June 17, 2021

Report

Cost of the Extension of Expanded Unemployment Compensation

July 16, 2021

CBO provides additional information about the projected cost of extending the expanded unemployment compensation enacted in response to the coronavirus pandemic.

Report

The Budgetary Effects of the Employee Retention Tax Credit During the Coronavirus Pandemic

July 16, 2021

CBO provides additional information about the budgetary effects of the employee retention tax credit.

Report

The Budgetary Effects of the Tax Credit for Employer-Paid Sick and Family Leave During the Coronavirus Pandemic

July 16, 2021

CBO provides additional information about the budgetary effects of the tax credit for employer-paid sick and family leave.

Presentation

CBO’s Updated Budget and Economic Projections

July 15, 2021

Presentation by Phillip Swagel, CBO’s Director, to the American Council for Capital Formation.

Cost Estimate

S. 1931, Surface Transportation Reauthorization Act of 2021

July 15, 2021

As reported by the Senate Committee on Environment and Public Works on May 27, 2021

Cost Estimate

S. 2016, Surface Transportation Investment Act of 2021

July 15, 2021

As ordered reported by the Senate Committee on Commerce, Science, and Transportation on June 16, 2021

Cost Estimate

H.R. 3076, Postal Service Reform Act of 2021

July 14, 2021

As ordered reported by the House Committee on Oversight and Reform on May 13, 2021

Cost Estimate

S. 14, Combatting Global Corruption Act of 2021

July 13, 2021

As reported by the Senate Committee on Foreign Relations on
June 24, 2021

Cost Estimate

S. 189, Veterans’ Compensation Cost-of-Living Adjustment Act of 2021

July 13, 2021

As reported by the Senate Committee on Veterans’ Affairs on June 24, 2021

GAO


COVID-19 

The Coast Guard Has Addressed Challenges, but Could Improve Telework Documentation and Personnel Data 

GAO-21-539 

Published: Jul 16, 2021. 

Publicly Released: Jul 16, 2021. 

What GAO Found The U.S. Coast Guard took steps to safeguard its personnel during the COVID-19 pandemic by updating its policies and guidance, expanding telework, and administering COVID-19 vaccines, among other efforts.  

 

Countering Weapons of Mass Destruction  

Opportunities for DHS to Better Address Longstanding Program Challenges 

GAO-21-105332 

Published: Jul 16, 2021. 

Publicly Released: Jul 16, 2021. 

What GAO Found In April 2016, GAO evaluated Department of Homeland Security (DHS) plans to consolidate chemical, biological, radiological, and nuclear security programs into the Countering Weapons of Mass Destruction (CWMD) office.  

 

State and Local Governments  

Fiscal Conditions During the COVID-19 Pandemic in Selected States 

GAO-21-562 

Published: Jul 15, 2021. 

Publicly Released: Jul 15, 2021. 

What GAO Found State and local government revenues from individual, corporate, and sales taxes declined about $61 billion in the second quarter of 2020 compared to the second quarter in 2019 and rebounded in the third and fourth quarters of 2020.  

 

Tactical Wheeled Vehicles  

Army Should Routinely Update Strategy and Improve Communication with Industry 

GAO-21-460 

Published: Jul 15, 2021. 

Publicly Released: Jul 15, 2021. 

What GAO Found The Army is currently studying ways to modernize its fleet of tactical wheeled vehicles (TWV).  

 

Priority Open Recommendations  

Office of Science and Technology Policy 

GAO-21-105129 

Published: Jul 08, 2021. 

Publicly Released: Jul 15, 2021. 

What GAO Found As of June 2021, the Office of Science and Technology Policy (OSTP) had 11 open recommendations. We are identifying three recommendations from our prior work as priorities for implementation by OSTP.  

 

Microenterprise and Related Development Assistance  

Challenges in Evaluating Lasting Benefits for Women and the Poor 

GAO-21-328 

Published: Jul 15, 2021. 

Publicly Released: Jul 15, 2021. 

What GAO Found U.S.  

 

Military Vehicles  

Army and Marine Corps Should Take Additional Actions to Mitigate and Prevent Training Accidents 

GAO-21-361 

Published: Jul 07, 2021. 

Publicly Released: Jul 14, 2021. 

What GAO Found The number of serious accidents involving Army and Marine Corps tactical vehicles, such as tanks and trucks, and the number of resulting deaths, fluctuated from fiscal years 2010 through 2019 (see figure).  

 

Firearm Injuries  

Health Care Service Needs and Costs 

GAO-21-515 

Published: Jun 16, 2021. 

Publicly Released: Jul 14, 2021. 

What GAO Found There is no complete information on the health care costs of firearm injuries. National data allow for estimates of the costs of initial hospital treatment and some first-year costs, but less is known about costs the more time passes from the injury.  

 

Facial Recognition Technology  

Federal Law Enforcement Agencies Should Have Better Awareness of Systems Used By Employees 

GAO-21-105309 

Published: Jul 13, 2021. 

Publicly Released: Jul 13, 2021. 

What GAO Found In June 2021, GAO reported the results of its survey of 42 federal agencies that employ law enforcement officers about their use of facial recognition technology.  

 

F-35 Joint Strike Fighter  

Cost and Schedule Risks in Modernization Program Echo Long-Standing Challenges 

GAO-21-105282 

Published: Jul 13, 2021. 

Publicly Released: Jul 13, 2021. 

What GAO Found While the Department of Defense (DOD) approaches its full-rate production decision point (which would formally authorize DOD's transition from development to full production), the F-35 program is producing nearly 25 percent of the total planned aircraft in low-rate initial production before...  

 

VA Medical Center Security  

Progress Made, but Improvements to Oversight of Risk Management and Incident Analysis Still Needed 

GAO-21-105320 

Published: Jul 13, 2021. 

Publicly Released: Jul 13, 2021. 

What GAO Found The Department of Veterans Affairs (VA) has recently identified improvements for its physical security risk management policy and oversight process for its medical centers but has yet to implement them.  

 

F-35 Joint Strike Fighter  

Cost and Schedule Risks in Modernization Program Echo Long-Standing Challenges 

GAO-21-105282 

Published: Jul 13, 2021. 

Publicly Released: Jul 13, 2021. 

What GAO Found While the Department of Defense (DOD) approaches its full-rate production decision point (which would formally authorize DOD's transition from development to full production), the F-35 program is producing nearly 25 percent of the total planned aircraft in low-rate initial production before...  

 

COVID-19 Housing Protections  

Mortgage Forbearance and Other Federal Efforts Have Reduced Default and Foreclosure Risks 

GAO-21-554 

Published: Jul 12, 2021. 

Publicly Released: Jul 12, 2021. 

What GAO Found Many single-family mortgage borrowers who missed payments during the pandemic used the expanded mortgage forbearance provision in the CARES Act.  

 

Conflict Minerals 

2020 Company SEC Filings on Mineral Sources Were Similar to Those from Prior Years 

GAO-21-531 

Published: Jul 12, 2021. 

Publicly Released: Jul 12, 2021. 

What GAO Found The Securities and Exchange Commission (SEC) disclosure rule on conflict minerals broadly requires that certain companies submit a filing that describes their efforts to determine the source of their conflict minerals—tin, tungsten, tantalum, and gold.  

 

Clean Water Act  

EPA Needs to Better Assess and Disclose Quality of Compliance and Enforcement Data 

GAO-21-290 

Published: Jul 12, 2021. 

Publicly Released: Jul 12, 2021. 

What GAO Found Since 2015, the Environmental Protection Agency (EPA) has modified one of its three national initiatives emphasizing compliance with the Clean Water Act and has discontinued two others (see fig.).  

 

VA Disability Benefits  

Actions Needed to Better Manage Appeals Workload Risks, Performance, and Information Technology 

GAO-21-105305 

Published: Jul 13, 2021. 

Publicly Released: Jul 12, 2021. 

What GAO Found In March 2018, GAO made recommendations to address gaps in the Department of Veterans Affairs (VA) plans for reform of its appeals process for disability compensation claims.  


IASB


Webinars on the IASB’s Third Agenda Consultation—recording now available

19 July 2021

Webinar

July 2021 IFRS Foundation Trustees meeting summary now available

19 July 2021

Meeting

Recording available of G20 Venice conference featuring IFRS Foundation Trustee Chair

16 July 2021

Panel discussion

July 2021 National Standard-setters newsletter now available

15 July 2021

Update

Watch recording of virtual workshop: Targeted Standards-level Review of Disclosures

12 July 2021

Webinar

Watch webinar on Business Combinations under Common Control—initial questions and comments

12 July 2021

Webinar

IRS

IRS: Monthly Child Tax Credit payments begin

IR-2021-153, July 15, 2021 — The Internal Revenue Service and the Treasury Department announced today that millions of American families have started receiving monthly Child Tax Credit payments as direct deposits begin posting in bank accounts and checks arrive in mailboxes.

IRS Security Summit announces summer campaign to raise awareness among tax pros about identity theft; urges practitioners to boost security immunity

IR-2021-152, July 14, 2021 — Continuing an effort to battle tax-related identity theft, the IRS, state tax agencies and the tax industry announced today that the annual campaign to raise awareness among tax professionals about data security will begin next week.

IRS readies nearly 4 million refunds for unemployment compensation overpayments

IR-2021-151, July 13, 2021 — The Internal Revenue Service announced today it will issue another round of refunds this week to nearly 4 million taxpayers who overpaid their taxes on unemployment compensation received last year.


NYC/NYS


Governor Cuomo Announces $86.2 Million In Settlements With 4 Utilities for Failures Related To Power Outages and Emergency Response Including Tropical Storm Isaias

The Ulster County Fire Investigation Unit and the New York State Department of Financial Services’ Criminal Investigation Unit announce the arrest of Yevganiy Ilyayev for Insurance Fraud in the second degree following a year-long criminal investigation.

PCAOB

253 Students Named PCAOB Scholars for the 2021-2022 Academic Year

SEC

SEC Shuts Down Fraudulent Mother-Son Offering Involving Purported Supercomputer

UBS Settles Charges Related to Investments in Complex Exchange-Traded Product

Chair Gensler Announces Composition of Policy Team

SEC Awards More Than $1 Million to Whistleblower

SEC Charges Executives of Network Infrastructure Company With Accounting Fraud

Daniel S. Kahl Appointed Acting Director of the Division of Examinations; Peter B. Driscoll to Depart Agency

ICO “Listing” Website Charged With Unlawfully Touting Digital Asset Securities

SEC Charges SPAC, Sponsor, Merger Target, and CEOs for Misleading Disclosures Ahead of Proposed Business Combination

SEC Announces $97 Million Enforcement Action Against TIAA Subsidiary for Violations in Retirement Rollover Recommendations

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