Regulatory Roundup - Oct. 5-11

By:
Ruth Singleton
Published Date:
Oct 11, 2021

CBO

Working Paper
Fiscal Substitution in Spending for Highway Infrastructure: Working Paper 2021-13
October 8, 2021
CBO provides estimates of how much state and local governments that receive federal grants for highway capital projects substitute that funding for their own spending on highway capital.

Report
Monthly Budget Review: September 2021
October 8, 2021
The federal budget deficit was $2.8 trillion in fiscal year 2021, CBO estimates—$362 billion less than the deficit recorded in fiscal year 2020.

Cost Estimate
Reconciliation Recommendations of the House Committee on Financial Services
October 8, 2021
As ordered reported on September 14, 2021

Report
Illustrative Options for National Defense Under a Smaller Defense Budget
October 7, 2021
CBO examined three broad options for reconfiguring the military if funding for the Department of Defense was reduced by $1 trillion (in 2022 dollars), or 14 percent, over the next 10 years.

Presentation
Navy Shipbuilding: Searching for a Path to a Larger and More Distributed Fleet
October 7, 2021
Presentation by Eric J. Labs, an analyst in CBO’s National Security Division, to the American Shipbuilding Suppliers Association.

Report
CBO’s Recent Publications and Work in Progress as of September 30, 2021
October 6, 2021
In this report, the latest in a quarterly series, CBO highlights its recent work and summarizes its work in progress.

Report
Estimates of the Cost of Federal Credit Programs in 2022
October 6, 2021
CBO estimates the costs of federal credit programs in two ways—following procedures prescribed by the Federal Credit Reform Act (FCRA) and using a fair-value approach, which measures the market value of the government’s obligations.

Cost Estimate
H.R. 2415, Orphaned Well Cleanup and Jobs Act of 2021
October 6, 2021
As ordered reported by the House Committee on Natural Resources on May 26, 2021

Cost Estimate
H.R. 729, Strength in Diversity Act of 2021
October 6, 2021
As ordered reported by the House Committee on Education and Labor on July 15, 2021

Report
Information About CBO’s Cost Estimates for Reconciliation Legislation in the House of Representatives
October 6, 2021
This letter responds to a request for information about CBO's cost estimates for the reconciliation legislation now being considered by the House of Representatives.

Cost Estimate
Reconciliation Recommendations of the House Committee on Science, Space, and Technology
October 6, 2021
As ordered reported on September 9, 2021

Cost Estimate
S. 1747, Fluke Fairness Act of 2021
October 6, 2021
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on June 16, 2021

Working Paper
How Changes in the Distribution of Earnings Affect the Federal Deficit: Working Paper 2021-12
October 5, 2021
This paper examines how the federal budget deficit would have differed in 2018 under four scenarios that vary the distribution of labor earnings while leaving aggregate earnings unchanged.

Cost Estimate
S. 1486, Pregnant Workers Fairness Act
October 5, 2021
As ordered reported by the Senate Committee on Health, Education, Labor, and Pensions on September 30, 2021

Cost Estimate
S. 2610, Intelligence Authorization Act for Fiscal Year 2022
October 5, 2021
As reported by the Senate Select Committee on Intelligence on
August 4, 2021

FASB

Private Company Council Meeting Recap
Norwalk, CT, October 6, 2021—The Private Company Council (PCC) met on Tuesday, September 28, 2021. Below is a brief summary of topics addressed by the PCC at the meeting:
Meeting Recap

GAO

Federal Research
Agency Actions Needed to Address Foreign Influence
GAO-22-105434
Published: Oct 05, 2021.
Publicly Released: Oct 05, 2021.
To protect U.S. investments in scientific research from undue foreign influence, federal agencies should have conflict of interest policies and require researchers to disclose foreign interests.

K-12 Education
Challenges Locating and Securing Charter School Facilities and Government Assistance
GAO-21-104446
Published: Sep 27, 2021.
Publicly Released: Oct 04, 2021.
Charter schools are public schools operated by independent organizations under agreements with state or local governments.

Child Welfare
Better Data and Guidance Could Help States Reinvest Adoption Savings and Improve Federal Oversight
GAO-22-6
Published: Oct 04, 2021.
Publicly Released: Oct 04, 2021.
Legislation enacted in 2008 increased federal reimbursement of state assistance payments to adoptive families, saving states more than $800 million from FY 2015-19. But, states must reinvest all of these "adoption savings" back into child welfare services.

IASB

Technical Readiness Working Group: purpose and progress
07 October 2021
The IFRS Foundation has today published a webcast explaining the role of the Technical Readiness Working Group (TRWG), which was created by the Foundation’s Trustees in March 2021 to do preparatory work for the proposed International Sustainability Standards Board (ISSB).

IRS

Give tax withholding a fresh look as 2021 year-end nears
IR-2021-199, October 8, 2021 — The Internal Revenue Service reminds taxpayers today that the last quarter of 2021 is a good time to check withholding.

IRS Free File program available through Oct. 15
IR-2021-198, October 5, 2021 — The Internal Revenue Service announced today that Free File remains available through Oct. 15 for those taxpayers who still need to file their 2020 tax returns.

IRS Nationwide Tax Forums Online launches 18 new seminars
IR-2021-197, October 4, 2021 — The Internal Revenue Service today announced that 18 new self-study seminars are available through the IRS Nationwide Tax Forums Online.

NYS

The Department of Financial Services and Empire State Development Award $5 Million in Grants to Expand Affordable Banking Services in Underserved Communities
October 7, 2021

SEC

SEC Charges Hemp Company and Co-Founders With Fraud
2021-208, Oct. 5, 2021 — The Securities and Exchange Commission today charged CanaFarma Hemp Products Corp. and its co-founders with fraudulently raising approximately $15 million from investors, and misappropriating a significant portion of the investor funds for personal use and other unrelated purposes.

SEC Highlights Investor Protection for World Investor Week 2021
2021-207, Oct. 4, 2021 —The Securities and Exchange Commission today announced that it will highlight investor education and protection resources during World Investor Week 2021 (WIW). This marks the fifth year of WIW, a global effort promoted by the International Organization of Securities Commissions (IOSCO) that brings together regulators on six continents to raise awareness about the importance of investor education and protection. The SEC is once again serving as the national coordinator in the U.S. working with the U.S. Commodity Futures Trading Commission, Financial Industry Regulatory Authority, National Futures Association, and North American Securities Administrators Association. Together with these organizations, the SEC's Office of Investor Education and Advocacy (OIEA) issued a joint Investor Bulletin today to promote WIW's key messages. Investor education and protection resources are available at Investor.gov.

TIGTA

Improvements to the Correspondence Examination Process May Increase Taxpayer Compliance and Collection Potential
September 30, 2021

 

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