CBO
Report
CBO’s Long-Term Projections of Gross Federal Debt
September 8, 2023
In response to a request from Budget Committee Chairman Jodey Arrington, CBO provides information about the agency’s long-term projections of gross federal debt. By the end of 2053, such debt is projected to reach 192 percent of GDP.
Cost Estimate
H.R. 485, Protecting Health Care for All Patients Act of 2023
September 8, 2023
As reported by the House Committee on Energy and Commerce on May 17, 2023
Cost Estimate
S. 1153, National Manufacturing Advisory Council for the 21st Century Act
September 8, 2023
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 27, 2023
Presentation
Contingent Financial Liabilities of the Federal Government
September 7, 2023
Presentation by Sebastien Gay, CBO’s Director of Financial Analysis, to the MIT Golub Center for Finance and Policy’s 10th annual conference.
Cost Estimate
H.R. 3943, Servicemember Employment Protection Act of 2023
September 7, 2023
As ordered reported by the House Committee on Veterans’ Affairs on July 26, 2023
Cost Estimate
H.R. 984, Commitment to Veteran Support and Outreach
September 7, 2023
As ordered reported by the House Committee on Veterans’ Affairs on July 26, 2023
Blog Post
Latest Presentations
September 7, 2023
CBO Director Phillip Swagel discusses his most recent presentations on the U.S. economic and fiscal outlook.
Working Paper
Modeling the Demand for Electric Vehicles and the Supply of Charging Stations in the United States: Working Paper 2023-06
September 7, 2023
This paper presents a simulation model of the markets for light-duty electric vehicles and the associated public charging infrastructure, as well as the network interactions between them.
Cost Estimate
S. 2116, Strengthening Support for American Manufacturing Act
September 7, 2023
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 27, 2023
Cost Estimate
S. 2201, American Cybersecurity Literacy Act
September 7, 2023
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 27, 2023
Report
CBO’s Projections of Federal Receipts and Expenditures in the National Income and Product Accounts: 2023 to 2033 September 6, 2023
This report presents CBO’s projections of revenues and outlays for the 2023–2033 period translated into the framework of the national income and product accounts and their categories of current receipts and expenditures.
Cost Estimate
H.R. 1581, America Works Act of 2023
September 6, 2023
As introduced on March 14, 2023
Cost Estimate
H.R. 1767, Student Veteran Benefit Restoration Act
September 6, 2023
As ordered reported by the House Committee on Veterans’ Affairs on July 26, 2023
Cost Estimate
H.R. 4467, DHS Border Services Contracts Review Act
September 6, 2023
As ordered reported by the House Committee on Homeland Security on July 12, 2023
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of September 11, 2023
September 6, 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.
Cost Estimate
H.R. 532, a bill to designate the Federal building and United States courthouse located at 600 East First Street in Rome, Georgia, as the “Harold L. Murphy Federal Building and United States Courthouse”
September 5, 2023
As ordered reported by the House Committee on Transportation and Infrastructure on July 27, 2023
Cost Estimate
S. 10, VA Clinician Appreciation, Recruitment, Education, Expansion, and Retention Support (CAREERS) Act of 2023 September 5, 2023
As ordered reported by the Senate Committee on Veterans’ Affairs on February 16, 2023
Cost Estimate
S. 1278, a bill to designate the Federal building located at 985 Michigan Avenue in Detroit, Michigan, as the “Rosa Parks Federal Building”, and for other purposes
September 5, 2023
As reported by the Senate Committee on Environment and Public Works on July 26, 2023
Cost Estimate
S. 484, Combating Human Rights Abuses Act of 2023
September 5, 2023
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 27, 2023
GAO
Security of Taxpayer Information:
IRS Needs to Address Critical Safeguard Weaknesses
GAO-23-105395
Published: . Publicly Released: .
Your tax returns are filled with sensitive personal and financial data—which you expect the IRS to protect. However, recent disclosures of sensitive taxpayer data have made headlines. We, and the Treasury Inspector General for Tax Administration, have also raised concerns about IRS's ability to safeguard taxpayer information. In this review, we found weaknesses in training, information systems, contractor oversight, information-sharing, and more. Of the related...
Medical Advertising:
Federal Oversight of Devices
GAO-23-106197
Published:
Publicly Released:
There are many TV, print, and online ads for medical devices, such as blood pressure monitors or contact lenses. Direct-to-consumer ads can educate people about devices that may help them. But some of the ads can raise concerns for consumers, doctors, and patients, such as: False advertising Ads that create high demand for a product, which can lead to higher costs Ads that target vulnerable...
DOD Service Contracts:
Actions Needed to Identify Efficiencies and Forecast Budget Needs
GAO-23-106123
Published:
Publicly Released:
The Department of Defense spends hundreds of billions of dollars on contracts for services, such as program administration and tech support. DOD policy requires the military departments to collect and review data about their service contracts with a value of $10 million or more. Having such data available could help DOD contract more efficiently and save money. While the Navy collects and reviews this data...
Southwest Border:
Additional Actions Needed to Address Cultural and Natural Resource Impacts from Barrier Construction
GAO-23-105443
Published:
Publicly Released:
From 2017 through January 2021, federal agencies built about 450 miles of barriers along the U.S. Southwest border. To expedite construction, they waived federal environmental and other laws. The construction harmed some cultural and natural resources, for example, by blasting at a tribal burial site and altering water flows. Before building, the Department of Homeland Security assessed some potential effects of the construction. But federal...
Space Launch System:
Cost Transparency Needed to Monitor Program Affordability
GAO-23-105609
Published:
Publicly Released:
Last year, NASA launched its Artemis I flight test using a Space Launch System rocket, or SLS. NASA plans to spend billions of dollars to produce more rockets. It also needs to build progressively stronger versions of these rockets for use on Artemis missions into the 2030s. Original SLS cost baselines, or committed costs, were tied to the launch of Artemis I. Without a baseline...
Federal Buildings:
Capital Access and Market Options Are Key Challenges Facing GSA's Sustainability Efforts
GAO-23-105905
Published:
Publicly Released:
The 8,600 buildings that the General Services Administration owns or leases for federal agencies consume a lot of energy and emit a significant amount of greenhouse gases. In 2021, an executive order set new long-term federal sustainability goals. In response, GSA updated its practices to further promote buildings' energy efficiency and reduce their emissions—but GSA officials said it will be hard to meet these goals...
Arctic Region:
Factors That Facilitate and Hinder the Advancement of U.S. Priorities
GAO-23-106002
Published:
Publicly Released:
In the Arctic, warming temperatures and melting sea ice have opened new shipping routes but have also increased climate risks and international economic competition. Addressing these issues is a strategic priority for the U.S. government. U.S. and foreign stakeholders identified factors that may help advance U.S. priorities, such as creating a new Ambassador for the Arctic region and providing scientific and other expertise at the...
GASB
GASB Adds Project on Subsequent Events to Current Technical Agenda
Sept. 7, 2023
IASB
September 2023 International Sustainability Standards Board agenda and meeting paper now available
Meeting
8 Sep 2023
September 2023 International Accounting Standards Board agenda and meeting papers now available
Meeting
8 Sept 2023
IASB to publish Exposure Draft Annual Improvements to IFRS Accounting Standards—Volume 11
Forthcoming publication
8 Sept 2023
IRS
IRS announces sweeping effort to restore fairness to tax system with Inflation Reduction Act funding; new compliance efforts focused on increasing scrutiny on high-income, partnerships, corporations and promoters abusing tax rules on the books
IR-2023-166, Sept. 8, 2023 — Capitalizing on Inflation Reduction Act funding and following a top-to-bottom review of enforcement efforts, the Internal Revenue Service announced today the start of a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations and promoters abusing the nation’s tax laws.
IRS reminds gig workers, self-employed and others of Sept. 15 third quarter estimated tax payment deadline
IR-2023-165, Sept. 6, 2023 — The Internal Revenue Service is reminding taxpayers who pay estimated taxes that the deadline to submit their third quarter payment is Sept. 15, 2023.
IRS accepting applicants for the 2024 Compliance Assurance Process
IR-2023-164, Sept. 6, 2023 — The Internal Revenue Service today announced the opening of the application period for the 2024 Compliance Assurance Process (CAP) program, which will run from Sept. 6 to Oct. 31, 2023.
IRS: South Carolina taxpayers impacted by Idalia qualify for tax relief; Oct. 16 deadline, other dates postponed to Feb. 15
IR-2023-163, Sept. 6, 2023 — The Internal Revenue Service announced tax relief for individuals and businesses affected by Idalia, anywhere in South Carolina. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments.
IRS issues a frequently asked question for pass-through entities to report negative amounts electronically to the IRS on Part II of Schedules K-2 and K-3
IR-2023-162, Sept. 5, 2023 — The Internal Revenue Service today issued a frequently asked question in Fact Sheet 2023-20 to provide guidance to pass-through entities for electronically filing Schedules K-2 and K-3 to the IRS to report negative amounts.
SEC
SEC Charges Privately Held Monolith Resources for Using Separation Agreements that Violated Whistleblower Protection Rules
2023-172
Washington D.C., Sept. 8, 2023 — The Securities and Exchange Commission today announced settled charges against Monolith Resources LLC, a privately held energy and technology company headquartered in Lincoln, Nebraska, for using employee separation agreements that violated the SEC’s whistleblower protection rules.
Linus Financial Agrees to Settle SEC Charges of Unregistered Offer and Sale of Securities
2023-171
Washington D.C., Sept. 7, 2023 — The Securities and Exchange Commission today announced settled charges against Linus Financial, Inc. for failing to register the offers and sales of its retail crypto lending product, the Linus Interest Accounts. The SEC determined not to impose civil penalties against Linus Financial because of the Nashville-based company’s cooperation and prompt remedial actions.
SEC Charges Fluor Corp. for Accounting Improprieties
2023-170
Washington D.C., Sept. 6, 2023 — The Securities and Exchange Commission today announced that Irving, Texas-based Fluor Corporation will pay $14.5 million to settle charges stemming from the company’s improper accounting on two large-scale, fixed-price construction projects. Five former and current officers and employees also agreed to settle related charges for causing Fluor’s violations.
SEC Approves Funding Amendment to National Market System Plan Governing the Consolidated Audit Trail
2023-169
Washington D.C., Sept. 6, 2023 — The Securities and Exchange Commission today approved an amendment to the National Market System Plan governing the Consolidated Audit Trail (CAT) (the “CAT NMS Plan”) to adopt a revised funding model, called the “Executed Share Model,” for the CAT and establish a fee schedule for CAT fees for the self-regulatory organizations that are participants to the CAT NMS Plan in accordance with the Executed Share Model.
SEC Charges Five Advisory Firms for Custody Rule Violations
2023-168
Washington D.C., Sept. 5, 2023 — The Securities and Exchange Commission today announced charges against five investment advisers for failing to comply with requirements related to the safekeeping of client assets. Three of the firms were also charged with failing to timely update SEC disclosures regarding audits of their private fund clients’ financial statements. All five advisory firms have agreed to settle the SEC’s charges and to pay more than $500,000 in combined penalties.
TIGTA
Actions Have Been Taken to Enhance Fuel Tax Credit Screening and Examination Processes; However, Improvements Are Still Needed
September 7, 2023
The Internal Revenue Service Has Experienced Challenges in Transitioning to Electronic Records
September 6, 2023
Process, Training, and Awareness Enhancements Can Better Inform Employees on How to Report Taxpayer Assaults and Threats
September 5, 2023