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Regulatory Roundup: January 24-30

S.J. Steinhardt
Published Date:
Jan 30, 2023


Blog Post
CBO to Release Updated Budget and Economic Projections on February 15
January 25, 2023
CBO will release "The Budget and Economic Outlook: 2023 to 2033" and "Federal Debt and the Statutory Limit, February 2023," at 2 p.m. EST on February 15.

Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of January 30, 2023
January 25, 2023
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.

The Demographic Outlook: 2023 to 2053
January 24, 2023
In CBO’s projections, the U.S. population increases from 336 million people in 2023 to 373 million people in 2053. Population growth is increasingly driven by net immigration, which accounts for all population growth beginning in 2042.


Financial Accounting Foundation Announces Changes to Online Access to Accounting Standards Codification® and Governmental Accounting Research System™
January 30, 2023


Financial Accounting Foundation Announces Changes to Online Access to Accounting Standards Codification® and Governmental Accounting Research System™
January 30, 2023


Government Auditing Standards:
2023 Exposure Draft

Publicly Released:
Auditors around the world use our Yellow Book—Government Auditing Standards—to perform audits. We maintain the Yellow Book and stay on top of domestic and international auditing standards. This year, we are proposing an update to enhance how audit organizations manage audit quality. Effective quality management can reasonably assure an audit organization that its people, audits, and reports adhere to professional standards and applicable laws. Another...

FAA Should Improve Its Approach to Integrating Drones into the National Airspace System

Publicly Released:
The Federal Aviation Administration (FAA) is responsible for safely integrating drones into the national airspace—a complex network that includes airports, aircraft, and air traffic control facilities. FAA has developed various planning documents to manage its efforts to integrate drones. But, it has yet to develop a comprehensive strategy to guide these efforts. For example, FAA's documents don't include important elements—such as goals, objectives, and milestones—that...

Contested Information Environment:
Actions Needed to Strengthen Education and Training for DOD Leaders

Publicly Released:
The United States' adversaries are exploiting social media, IT, and other aspects of the "information environment" to undermine the nation's security. Such actions can include making false social media posts or interfering with GPS data used by DOD leaders to make decisions about their military options, such as troop positions. In response, DOD educates and trains its leaders to address such threats. However, DOD hasn't...

Affordable Broadband:
FCC Could Improve Performance Goals and Measures, Consumer Outreach, and Fraud Risk Management

Publicly Released:
Access to broadband—high-speed internet—has become critical for everyday life. But its cost may keep some people from having access to it. To make it more affordable for low-income Americans, the FCC's Affordable Connectivity Program offers monthly discounts on broadband service to eligible households. As of Sept. 2022, over 14 million households had enrolled—about a third of the estimated eligible households. FCC could strengthen the program's...

Clean Water Act:
EPA Should Track Control of Combined Sewer Overflows and Water Quality Improvements

Publicly Released:
Combined sewer systems collect sewage and storm runoff in the same pipes for treatment. This means heavy rainfall can overwhelm system capacity, causing raw sewage to overflow into waterways. About 700 U.S. municipalities have such systems. In 1994, the Environmental Protection Agency told these municipalities to develop plans to address overflows and comply with the Clean Water Act. The 11 municipalities we reviewed faced challenges—such...

Federal Workforce:
Strengthening Diversity, Equity, Inclusion, and Accessibility

Publicly Released:
As the nation's largest employer, the federal government strives to be a model for diversity, equity, inclusion, and accessibility (DEIA). This snapshot discusses our work in this area from 2017-2022. For example, we've found: Agencies had mixed success in increasing workforce diversity. For example, the Intelligence Community's workforce saw increases in proportions of minorities, but didn't meet federal benchmarks The federal pay gap between men...

Broadband Funding:
Stronger Management of Performance and Fraud Risk Needed for Tribal and Public-Private Partnership Grants

Publicly Released:
Tribal, rural, and economically disadvantaged areas are more likely to not have access to broadband service—which is vital for things like remote learning, telework, and telehealth. The National Telecommunications and Information Administration (NTIA) manages two grant programs that work to expand broadband access. We found that for one of these programs the agency's goals include extending reliable, affordable broadband to 200,000 households. However, NTIA doesn't...

Federal Programs:
Approaches to Help Create a Useful Inventory

Publicly Released:
The federal government spends trillions of dollars each year on various programs. However, it does not have an inventory of all federal programs—despite the fact that it has been required to have one available on a public website since 2011. An annually updated inventory of federal programs would help the public better understand what the government does, what it spends, and what it achieves each...

Department of Energy Contracting:
Additional Actions Could Further Strengthen Competition

Publicly Released:
The Department of Energy relies on contractors to operate national laboratories and conduct environmental cleanup. Competition for these contracts saves taxpayer dollars and improves performance. DOE received multiple offers for most of its large contracts. But some industry representatives questioned the fairness of the award process, such as how officials rate potential contractors' relevant past work. We didn't find evidence to support such concerns, but...

HHS Funds Allocated to Support Disproportionately Affected Communities

Publicly Released:
Some U.S. communities suffered more from COVID-19 than others. For example, Latinos, Blacks, and American Indian or Alaska Natives have been hospitalized at 2 or more times the rate of Whites. People over age 65, rural communities, and others also fared worse. We reviewed how Health and Human Services (HHS) allocated certain pandemic relief funds to support disproportionately affected communities. HHS provided $75 billion to...

Columbia Class Submarine:
Program Lacks Essential Schedule Insight amid Continuing Construction Challenges

Publicly Released:
The Navy is planning to spend $132 billion to develop and purchase 12 Columbia class nuclear-powered ballistic missile submarines—the largest and most complex submarine in its history. It plans to have the first one delivered in April 2027. The Navy lacks insight into the program's schedule because the shipbuilder hasn't conducted a schedule risk analysis, which can help identify and manage risks to achieving planned...


Financial Accounting Foundation Announces Changes to Online Access to Accounting Standards Codification® and Governmental Accounting Research System™
January 30, 2023


Register for webinar on the application and impact of the hedge accounting requirements of IFRS 9
30 Jan 2023

January 2023 IASB Update available and work plan updated
30 Jan 2023

Join the staff—ISSB Summer Research Associate Internship
27 Jan 2023

Join the staff—Director of HR, Americas (maternity cover)
26 Jan 2023

January 2023 ISSB Update and podcast now available
24 Jan 2023

Join the staff—Director of Communications: Americas (maternity cover)
24 Jan 2023


On EITC Awareness Day, IRS and partners promote major tax benefit to millions of low- and moderate-income workers
IR-2023-16, January 27, 2023 — The Internal Revenue Service and partners nationwide today kicked off their Earned Income Tax Credit Awareness Day outreach campaign to help millions of Americans who earned $59,187 or less last year take advantage of the Earned Income Tax Credit (EITC).

Filing Season 2023 has begun: Employer January 31 wage statement deadline almost here
IR-2023-15, January 26, 2023 — The Internal Revenue Service today urged employers to be aware of the January deadline to file Forms W-2 and other wage statements. Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud.

IRS opens free portal to file information returns; new electronic option can reduce millions of paper Forms 1099 estimated to be filed by businesses in 2023 IR-2023-14, January 25, 2023 — The Internal Revenue Service announced today that businesses can now file Form 1099 series information returns using a new online portal, available free from the IRS.

IRS reminds taxpayers: Choose a tax professional carefully
IR-2023-13, January 24, 2023 —The Internal Revenue Service today reminded taxpayers to choose a tax return preparer with care. Even though most tax return preparers provide honest, quality service, some may cause harm through fraud, identity theft and other scams.

IRS: Updates to question on digital assets; taxpayers should continue to report all digital asset income
IR-2023-12, January 24, 2023 — The Internal Revenue Service today reminded taxpayers that they must again answer a digital asset question and report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021. The term “digital assets” has replaced “virtual currencies,” a term used in previous years.


Department of Finance Publishes FY2024 Tentative Property Tax Assessment Roll
January 17, 2023


Don’t Miss Valuable Tax Credits on National Earned Income Tax Credit Day
January 27, 2023

Governor Hochul Urges New Yorkers to Take Steps to Safeguard Their Private Data
January 20, 2023


Silvestre Fontes Named Director of Boston Regional Office
Washington D.C., Jan. 25, 2023 — The Securities and Exchange Commission today announced that Silvestre A. Fontes has been named Regional Director of the Boston office, starting next week.

SEC Proposes Rule to Prohibit Conflicts of Interest in Certain Securitizations
Washington D.C., Jan. 25, 2023 — The Securities and Exchange Commission today proposed a rule to implement Section 27B of the Securities Act of 1933, a provision added by Section 621 of the Dodd-Frank Act. The rule is intended to prevent the sale of asset-backed securities (ABS) that are tainted by material conflicts of interest. Specifically, the rule would prohibit securitization participants from engaging in certain transactions that could incentivize a securitization participant to structure an ABS in a way that would put the securitization participant's interests ahead of those of ABS investors. The Commission originally proposed a rule to implement Section 27B in September 2011.

SEC Issues $28 Million Award to Joint Whistleblowers
Washington D.C., Jan. 24, 2023 — The Securities and Exchange Commission today announced an award of more than $28 million to joint whistleblowers who provided critical information and assistance in an SEC enforcement action.


Review of the Internal Revenue Service’s Purchase Card Violations Report and the Status of Recommendations
January 25, 2023

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