CBO
Cost Estimate
H.R. 1615, Gas Stove Protection and Freedom Act
June 2, 2023
As reported by the House Committee on Energy and Commerce on June 1, 2023
Cost Estimate
H.R. 764, Trust the Science Act
June 2, 2023
As ordered reported by the House Committee on Natural Resources on April 28, 2023
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of June 5, 2023
June 2, 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. 1640, Save Our Gas Stoves Act
June 1, 2023
As ordered reported by the House Committee on Energy and Commerce on May 24, 2023
Presentation
How CBO Acquires Data, Evaluates Its Estimates, and Makes Its Work Transparent
June 1, 2023
Presentation by Mark Hadley, CBO's Chief Operating Officer and General Counsel, for an annual seminar of the European Centre for Parliamentary Research and Documentation.
Cost Estimate
H. Con. Res. 43, a concurrent resolution authorizing the use of the Capitol Grounds for the Greater Washington Soap Box Derby
May 31, 2023
As ordered reported by the House Committee on Transportation and Infrastructure on May 23, 2023
Cost Estimate
H.R. 1644, 7(a) Loan Agent Oversight Act
May 31, 2023
As ordered reported by the House Committee on Small Business on May 23, 2023
Cost Estimate
H.R. 2795, Enhancing Multi-Class Share Disclosures Act
May 30, 2023
As ordered reported by the House Committee on Financial Services on April 26, 2023
Report
Answers to Questions for the Record Following a Hearing on Social Security’s Finances
May 30, 2023
The Subcommittee on Social Security of the House Committee on Ways and Means convened a hearing at which Phillip L. Swagel, CBO's Director, testified. This document provides CBO’s answers to questions submitted for the record.
GAO
GPS Modernization:
Space Force Should Reassess Requirements for Satellites and Handheld Devices
GAO-23-106018
Published: . Publicly Released: .DOD has worked for years to upgrade GPS with a military-specific signal known as M-code. DOD plans to have the needed ground, space, and user equipment ready soon. But it's unclear whether the current constellation of 24 satellites will meet some users' accuracy needs. Having 3 more satellites could help, but DOD may not be able to keep all 27 available consistently over the next...
Audit Recommendations:
Opportunities for Agencies to Improve GAO-IG Act Reports
GAO-23-106596
Published: . Publicly Released: .
GAO and federal agencies' inspectors general make recommendations that could save money or improve public services. But agencies don't always implement them. Agencies must report on unimplemented recommendations with their annual budget justification. Most of the agencies we reviewed did so, but the level of detail they provided varied—possibly because they were confused by the reporting requirements. The Office of Management and Budget offers guidance...
Priority Open Recommendations:
Department of Energy
GAO-23-106459
Published:
Publicly Released:
Each year, we make more than 1,000 recommendations to help the federal government save money, address issues on our High Risk List, and significantly improve government operations. This letter to the U.S. Department of Energy outlines 30 open recommendations that it should prioritize. For example, the U.S. electricity grid faces risks from climate change, and we recommended that DOE implement a department-wide strategy to improve...
Zoonotic Diseases:
Federal Actions Needed to Improve Surveillance and Better Assess Human Health Risks Posed by Wildlife
GAO-23-105238
Published:
Publicly Released:
There are more than 200 known zoonotic diseases—those caused by pathogens that spread between animals and humans. Domestically, zoonotic disease risks can come from U.S. wildlife and animals imported from abroad. While federal agencies are developing a surveillance system to detect zoonotic diseases in U.S. wildlife, they could also do more to improve collaboration—including sharing information on emerging diseases. Some of the federal regulations on...
Environmental Sustainability:
DOD Should Identify Workforce Capacity Needed to Achieve Goals
GAO-23-105239
Published:
Publicly Released:
In FY 2021, the Department of Defense used three times as much energy as all other federal agencies combined. President Biden issued an executive order in December 2021 requiring federal agencies to reduce greenhouse gas emissions, energy and water use, and waste. DOD is working to comply with this executive order. For instance, it is increasing funding for key energy conservation projects. However, we found...
NASA:
Assessments of Major Projects
GAO-23-106021
Published:
Publicly Released:
NASA plans to invest over $83 billion in its major projects to continue exploring Earth, the moon, and the solar system. This is our 15th annual assessment of these projects. In the last year, NASA decreased its total project "overruns"—when costs incurred are more than budgeted—by almost $5 billion. The agency's largest, most complex projects have the biggest impact on these overruns. A key factor...
Information Technology:
DHS Needs to Continue Addressing Critical Legacy Systems
GAO-23-106853
Published:
Publicly Released:
We testified about the Department of Homeland Security's attempts to update its aging IT systems. These legacy systems can be costly to maintain and vulnerable to hackers. We recommended in 2019 that DHS develop a modernization plan for one of its most critical legacy systems. DHS did so in February 2022, and included milestones in the plan to replace this system and remove outdated hardware...
Child Care:
Observations on States' Use of COVID-19 Pandemic-Related Funding
GAO-23-106833
Published:
Publicly Released:
During the pandemic, Congress provided more than $52 billion in supplemental funding to help keep child care providers in business and ensure that low-income families could still access care. In this testimony, we discuss our work on how states used those funds, e.g., waiving family co-payments and increasing payments to care providers. States are still spending the money, and a full picture of its impact...
Tax Enforcement:
IRS Could Better Manage Alternative Dispute Resolution Programs to Maximize Benefits
GAO-23-105552
Published:
Publicly Released:
The IRS's alternative dispute resolution programs—which use an IRS mediator to resolve tax disputes between taxpayers and the agency—may be faster and less costly than its traditional appeals process. But the use of these programs fell by more than 65% between FYs 2013-2022, and the IRS doesn't have enough data to understand why. For instance, the IRS doesn't collect data on how often it rejects...
Priority Open Recommendations:
Office of Management and Budget
GAO-23-106298
Published:
Publicly Released:
Each year, we make more than 1,000 recommendations to help the federal government save money, address issues on our High Risk List, and significantly improve government operations. This letter to the Office of Management and Budget (OMB) outlines 40 open recommendations that it should prioritize. For example, we made 11 recommendations to help OMB create a federal program inventory that would help the public better...
F-35 Joint Strike Fighter:
More Actions Needed to Explain Cost Growth and Support Engine Modernization Decision
GAO-23-106047
Published:
Publicly Released:
The Department of Defense's most expensive weapon system—the F-35 aircraft—is now more than a decade behind schedule and $183 billion over original cost estimates. This program is weighing options to upgrade its engine and cooling system. But it hasn't taken some important steps, such as fully assessing the costs and technical risks of the different options. DOD also doesn't plan to manage the upgrades as...
IASB
June 2023 joint Capital Markets Advisory Committee and Global Preparers Forum agenda and meeting papers now available
Meeting
5 June 2023
Join the staff—Assistant Systems and Data Analyst
Careers
2 June 2023
June 2023 IFRS Advisory Council agenda and meeting paper now available
Meeting
2 June 2023
CEO of London Stock Exchange plc to give keynote address at the IFRS Foundation Conference
Conference
2 June 2023
May 2023 monthly news summary now available
News Summary
1 June 2023
Watch new webcast on the ISSB's consultation on its agenda priorities
Webcast
1 June 2023
June 2023 Sustainability Consultative Committee agenda and meeting paper now available
Meeting
1 June 2023
IASB consults on proposed amendments to IFRS for SMEs Accounting Standard related to international tax reform
Consultation
1 June 2023
Join the staff—Technical Staff (digital financial reporting/digital taxonomy/data modelling)
Careers
31 May 2023
May 2023 Due Process Oversight Committee meeting summary available
Meeting
31 May 2023
IFRS Foundation Trustees and IFRS Foundation Monitoring Board agree updated MoU
Announcement
31 May 2023
IRS
Tax professionals: Choose from 45 timely seminars at the 2023 Nationwide Tax Forums, earn up to 18 continuing education credits during historic period for the tax community
IR-2023-109, May 31, 2023 — The IRS today released the seminar lineup for the 2023 IRS Nationwide Tax Forums, providing tax professionals with multiple opportunities to learn more about changes to tax law and IRS transformation efforts. During three-day sessions in five cities, the tax forums will cover an ambitious program during a historic time for the tax community.
IRS provides additional guidance for advanced energy projects
IR-2023-108, May 31, 2023 — The Department of the Treasury and the Internal Revenue Service today issued Notice 2023-44 to provide more details for applicants seeking section 48C credit allocations in the qualifying advanced energy project credit allocation program under the Inflation Reduction Act.
Treasury and IRS provide proposed rules on energy projects for low-income communities
IR-2023-107, May 31, 2023 — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations for applicants investing in certain solar and wind powered electricity generation facilities.
PCAOB
PCAOB Announces Agenda for June 7 Meeting of Its Investor Advisory Group
June 1, 2023
At June 6 Open Meeting, PCAOB to Consider Proposal on Auditor Requirements Regarding Noncompliance With Laws and Regulations
May 30, 2023
SEC
SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao
2023-101
Washington D.C., June 5, 2023 — The Securities and Exchange Commission today charged Binance Holdings Ltd. (“Binance”), which operates the largest crypto asset trading platform in the world, Binance.com; U.S.-based affiliate, BAM Trading Services Inc. (“BAM Trading”), which, together with Binance, operates the crypto asset trading platform, Binance.US; and their founder, Changpeng Zhao, with a variety of securities law violations.
Small Business Advisory Committee June Meeting to Focus on Capital Raising and Reducing Funding Gaps for Underrepresented Founders
2023-100
Washington D.C., June 2, 2023 — The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Wednesday, June 14. The Committee will start the morning session by hearing from its members about marketplace trends in small business capital raising. In the afternoon session, the Committee will discuss ways to remedy the funding gaps for underrepresented founders and startups. Drawing from their breadth of experiences and views, Committee members will also consider potential areas of focus for future Committee meetings.
Former Wells Fargo Senior Executive Carrie Tolstedt Agrees to Settle SEC Fraud Charges for Misleading Investors About Abusive Sales Practices to Inflate a Key Performance Metric
2023-99
Washington D.C., May 30, 2023 — The Securities and Exchange Commission today announced its settlement with the former head of Wells Fargo & Co.’s Community Bank, Carrie L. Tolstedt, in which she has agreed to pay a $3 million penalty stemming from charges brought in 2020 for her role in allegedly misleading investors about the success of the Community Bank, Wells Fargo’s core business. The SEC previously settled related charges against Wells Fargo and its former CEO and Chairman, John Stumpf.
Former Coinbase Manager and His Brother Agree to Settle Insider Trading Charges Relating to Crypto Asset Securities
2023-98
Washington D.C., May 30, 2023 — The Securities and Exchange Commission today announced that former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges that they engaged in insider trading through a scheme to trade ahead of multiple announcements regarding at least nine crypto asset securities that would be made available for trading on the Coinbase platform. Ishan and Nikhil Wahi each agreed to be permanently enjoined from violating Section 10(b) of the Securities Exchange Act and Rule 10b-5 and to pay disgorgement of ill-gotten gains, plus prejudgment interest. As is often the case when a criminal court has already ordered defendants to forfeit their ill-gotten gains, the disgorgement and prejudgment interest in the SEC’s case would be deemed satisfied by the orders of forfeiture of the Wahi brothers’ assets in the criminal action, if approved by the court, and the SEC determined not to seek civil penalties in light of the Wahi brothers’ prison sentences.
TIGTA
Planning Efforts to Hire Employees Who Conduct Audits of High Earners and Large Businesses Could Be Improved
Report Number
2023-10-025
June 1, 2023
Services to Underserved Communities Have Been Ongoing; However, an Agencywide Strategy Has Not Been Developed
Report Number 2023-15-027
May 31, 2023