Regulatory Roundup - Sept. 14-17

By:
Chris Gaetano
Published Date:
Sep 17, 2021
CBO

Report
An Analysis of the Navy’s Fiscal Year 2022 Shipbuilding Plan
September 16, 2021
CBO estimates that the Navy’s total shipbuilding budget would average between $25 billion and $33 billion (in 2021 dollars) per year through 2052 to build a force of between 398 and 512 manned ships and unmanned vessels.

Cost Estimate
H.R. 3113, MAPLand Act
September 15, 2021
As ordered reported by the House Committee on Natural Resources on July 14, 2021

Cost Estimate
H.R. 4350, National Defense Authorization Act for Fiscal Year 2022
September 15, 2021
As reported by the House Committee on Armed Services on September 10, 2021

Cost Estimate
H.R. 564, Comprehensive Paid Leave for Federal Employees Act
September 15, 2021
As ordered reported by the House Committee on Oversight and Reform on July 20, 2021

Cost Estimate
H.R. 972, Wildlife Refuge Conservation and Recreation for the Community Act
September 15, 2021
As ordered reported by the House Committee on Natural Resources on July 14, 2021

Cost Estimate
S. 533, Guidance Clarity Act of 2021
September 15, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 14, 2021

Cost Estimate
S. 629, GAO Database Modernization Act of 2021
September 15, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 14, 2021

Cost Estimate
S. 1875, Veterans’ Emergency Care Claims Parity Act
September 14, 2021
As ordered reported by the Senate Committee on Veterans’ Affairs on
July 28, 2021

Report
The Role of the Department of Veterans Affairs in the Single-Family Mortgage Market
September 14, 2021
CBO describes VA’s mortgage guarantee program, provides estimates of the budgetary costs of the program, and compares those costs with expenditures for other federal guarantees.

Working Paper
Distributional Effects of Reducing Carbon Dioxide Emissions With a Carbon Tax: Working Paper 2021-11
September 13, 2021
This paper describes CBO’s method for measuring the distributional effects of a tax on carbon emissions and the agency’s rationale for choosing that method, while also comparing it with CBO’s prior method and methods used by other researchers

FASB

FASB to Host Online Training Forum for Continuing Professional Education (CPE) Providers  [09/16/21]
Media Advisory|
Registration

GAO

U.S. Postal Service
Further Analysis Could Help Identify Opportunities to Reduce Injuries Among Non-Career Employees
GAO-21-556
Published: Aug 17, 2021.
 Publicly Released: Sep 16, 2021.
What GAO Found The United States Postal Service (USPS) uses both career employees and non-career employees to accomplish its mission.

Chronic Health Conditions
Federal Strategy Needed to Coordinate Diet-Related Efforts
GAO-21-593
Published: Aug 17, 2021.
 Publicly Released: Sep 16, 2021.
What GAO Found According to the latest federal data available, selected chronic health conditions linked to diet are prevalent, deadly, and costly. These diet-related conditions include cardiovascular diseases (heart disease and stroke), cancer, diabetes, and obesity.

Coast Guard
Information on Defense Readiness Mission Deployments, Expenses, and Funding
GAO-21-104741
Published: Sep 15, 2021.
Publicly Released: Sep 15, 2021.
Why GAO Did This Study: One of the six armed forced, the U.S. Coast Guard is a multimission maritime military service within the Department of Homeland Security (DHS). It is responsible for implementing 11 statutory missions

Financial Audit Manual
Volume 3, September 2021
GAO-21-105127
Published: Sep 15, 2021.
Publicly Released: Sep 15, 2021.
This publication supersedes GAO-18-626G, Financial Audit Manual: Volume 3, June 2018. The U.S. Government Accountability Office (GAO) and the Council of the Inspectors General on Integrity and Efficiency (CIGIE) maintain the GAO/CIGIE Financial Audit Manual (FAM).

Overseas Real Property
Prioritizing Key Assets and Developing a Plan Could Help State Manage Its Estimated $3 Billion Maintenance Backlog
GAO-21-497
Published: Sep 15, 2021.
 Publicly Released: Sep 15, 2021.
What GAO Found The Department of State's portfolio of overseas assets and expenditures to operate them have grown, but State-allocated funding for maintenance has stayed nearly the same.

Science & Tech Spotlight
Advanced Plastic Recycling
GAO-21-105317
Published: Sep 14, 2021.
Publicly Released: Sep 14, 2021.
Why This Matters Plastic waste in the U.S. has grown tenfold from 1970 to 2018, while recycling rates have remained low. Mounting plastic waste in landfills and oceans can contaminate ecosystems and adversely affect human health and wildlife.

Federal Real Property Asset Management
Additional Direction in Government-Wide Guidance Could Enhance Natural Disaster Resilience
GAO-21-596
Published: Sep 14, 2021.
Publicly Released: Sep 14, 2021.
What GAO Found Selected agencies have taken some actions to incorporate resilience to natural disasters into their assets through processes used to make portfolio-wide decisions—known as “asset management”.

Public Transportation
Identifying Lessons Learned Could Help Improve FTA's Process to Manage Safety Risks
GAO-21-104029
Published: Sep 14, 2021.
Publicly Released: Sep 14, 2021.
What GAO Found Of the twelve selected transit agencies GAO spoke with, most faced challenges incorporating the Federal Transit Administration's (FTA) requirements to develop and document its Safety Management Systems (SMS) in their new agency safety plans.

Veterans Justice Outreach Program
Further Actions to Identify and Address Barriers to Participation Would Promote Access to Services
GAO-21-564
Published: Sep 14, 2021.
Publicly Released: Sep 14, 2021.
What GAO Found In response to the Veterans Treatment Court Improvement Act of 2018, Department of Veterans Affairs (VA) data show the agency hired 51 Veterans Justice Outreach (VJO) specialists, though VA completed its hiring and reporting after the statute's deadline.

IRS

Expanded tax benefits help individuals and businesses give to charity during 2021; deductions up to $600 available for cash donations by non-itemizers
IR-2021-190, September 17, 2021 — The Internal Revenue Service today explained how expanded tax benefits can help both individuals and businesses give to charity before the end of this year.

Oct. 15 deadline approaches for taxpayers who requested extensions to file 2020 tax returns
IR-2021-189, September 16, 2021 — The IRS today reminds taxpayers about the upcoming October 15 due date to file 2020 tax returns. 

IRS: Families now receiving September Child Tax Credit payments
IR-2021-188, September 15, 2021 — The Internal Revenue Service and the Treasury Department announced today that millions of American families are now receiving their advance Child Tax Credit (CTC) payment for the month of September.

IRS extends dyed diesel fuel penalty relief in Louisiana due to Hurricanes Ida and Nicholas
IR-2021-187, September 15, 2021 — The Internal Revenue Service, in response to the continued shortages of undyed diesel fuel caused by Hurricanes Ida and Nicholas, will extend the penalty relief provided in IR-2021-176 when dyed diesel fuel is sold or used on the highway.

IRS reminds business owners to correctly identify workers as employees or independent contractors
IR-2021-186, September 15, 2021 — During National Small Business Week, the Internal Revenue Service reminds business owners that it’s critical to correctly determine whether the individuals providing services are employees or independent contractors.

New mailing address for some Western states as Fresno, California, paper tax return processing center closes
IR-2021-185, September 14, 2021 — The Internal Revenue Service will close its paper return processing center in Fresno, California, permanently at the end of September this year. 

Renewed tax credit can help employers hire workers; key certification requirement applies
IR-2021-184, September 14, 2021 — With many businesses facing a tight job market, the Internal Revenue Service reminds employers to check out a valuable tax credit available to them for hiring long-term unemployment recipients and other groups of workers facing significant barriers to employment.

IRS: Tax relief now available to Ida victims in Pennsylvania; Oct. 15 deadline, other dates extended to Jan. 3
IR-2021-183, September 13, 2021 — Victims of Hurricane Ida in parts of Pennsylvania now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

IRS recognizes Small Business Week: Resources available to help employers
IR-2021-182, September 13, 2021 — During National Small Business Week, the Internal Revenue Service wants small business owners to know that information and resources to help them understand and meet their tax obligations are available free at IRS.gov.

NYC

Hurricane Ida Penalty Relief
September 15, 2021

NYS

Tax Department Announces Deadline Extension for Certain Business and Personal Tax Filers Affected by Recent Flooding in Parts of New York State
September 15, 2021

PCAOB

At September 22 Open Meeting, PCAOB to Consider Adoption of Rule Providing Framework for HFCAA Determinations
September 16, 2021

 SEC

SEC Awards $11.5 Million to Two Whistleblowers
2021-180, Sept. 17, 2021 — The Securities and Exchange Commission today announced awards of approximately $11.5 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action.

RBC Charged With Failing to Give Priority to Retail and Institutional Investors in Municipal Offerings

2021-179, Sept. 17, 2021 — The Securities and Exchange Commission today announced that RBC Capital Markets LLC has agreed to pay more than $800,000 to resolve charges that it engaged in unfair dealing in municipal bond offerings. The SEC also announced settled charges against Kenneth G. Friedrich, RBC's former head of Municipal Sales, Trading and Syndication, and Jaime L. Durando, the head of RBC's municipal syndicate desk.

SEC Charges School District and Former Executive with Misleading Investors in Bond Offering
2021-178, Sept. 16, 2021 — The Securities and Exchange Commission today charged a San Diego County school district, Sweetwater Union High School District, and its former Chief Financial Officer, Karen Michel, with misleading investors who purchased $28 million in municipal bonds.

SEC Surpasses $1 Billion in Awards to Whistleblowers with Two Awards Totaling $114 Million
2021-177, Sept. 15, 2021 —The Securities and Exchange Commission today announced awards of approximately $110 million and $4 million to two whistleblowers whose information and assistance led to successful SEC and related actions.  With these awards, the SEC's whistleblower program has now paid more than $1 billion in awards to 207 whistleblowers, including over $500 million in fiscal year 2021 alone. The $110 million award stands as the second-highest award in the program's history, following the over $114 million whistleblower award the SEC issued in October 2020.

SEC Charges App Annie and its Founder with Securities Fraud: Company Will Pay $10 Million to Settle First Enforcement Action Against Alternative Data Provider
2021-176, Sept. 14, 2021 —The Securities and Exchange Commission today announced that App Annie Inc., a leading alternative data provider for the mobile app industry, and its co-founder and former CEO and Chairman Bertrand Schmitt, have agreed to settle securities fraud charges for engaging in deceptive practices and making material misrepresentations about how App Annie's alternative data was derived. App Annie and Schmitt have agreed to pay more than $10 million to settle the matter, which is the SEC's first enforcement action charging an alternative data provider with securities fraud.

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