US Budgetary Effects of the 2020 Coronavirus Pandemic: Revenues collected since late March have been much weaker than those collected during the same period last year and much weaker than CBO projected earlier this year. The lower revenues result in part from the economic disruption caused by the pandemic, which has reduced wages and other taxable income, and in part from the government’s actions to address that disruption.
The federal government’s response included a variety of changes to tax rules. Some of them reduce the amount of taxes that businesses and individuals owe; others just allow taxpayers to defer paying taxes. CBO anticipates that most of the revenues affected by those deferrals will be collected in July, some will be collected in later years, and some will be permanently lost. CBO does not have an estimate of the amounts that fall in each of those categories.
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Commerce, HHS, FDA to Fight Online Opioid Sales
The Department of Commerce and the Department of Health and Human Services (HHS) today revealed a 120-day pilot program to curb illegal online sales of unapproved opioids.
Under the program, the National Telecommunications and Information Administration (NTIA) and the U.S. Food and Drug Administration (FDA) will work with three domain name registries, Neustar (.us), Verisign (.com, .net) and Public Interest Registry (.org), to suspend the domain names of websites found to be illegally selling unapproved opioids.
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