Search Results for keywords:"inflation adjustment"

The Department of Energy (DOE) has issued a final rule to adjust its civil monetary penalties (CMPs) for inflation, following the Federal Civil Penalties Inflation Adjustment Act of 1990 and its 2015 amendments. This adjustment ensures the penalties remain effective deterrents by increasing them to the maximum level prescribed by the law. The updated penalties use a multiplier, based on the Consumer Price Index, to calculate the rise for the year 2025. These changes will apply to violations assessed after the rule's effective date of December 27, 2024.

The Social Security Administration (SSA) has announced that the assessment percentage rate for fees paid directly to representatives under the Social Security Act will remain at 6.3 percent for the year 2025. This rate is the lower of two possible amounts: the specified dollar limit or the percentage necessary to recover the costs incurred by the SSA to determine and pay these fees. The maximum dollar limit for assessments is currently $120, having been adjusted for inflation, and will be revisited annually based on cost-of-living changes.

A correction has been made to a rule document from the Financial Crimes Enforcement Network of the Treasury Department. In the issue from January 28, 2021, there was a mistake in the table titled "Table 1" on page 7349. The date originally said "[INSERT DATE OF PUBLICATION IN THE FEDERAL REGISTER]" and has now been corrected to "January 28, 2021." This adjustment ensures accurate information is provided in the document.

The Alcohol and Tobacco Tax and Trade Bureau has announced an increase in the maximum penalty for violations of the Alcoholic Beverage Labeling Act (ABLA) from $25,561 to $26,225 due to inflation. This adjustment is part of a regular update required by the Federal Civil Penalties Inflation Adjustment Act, aiming to keep penalties effective and properly reflect their deterrent impact. The new penalty amount takes effect on January 16, 2025, and applies to any violations assessed after that date. For more details, readers can visit the Bureau's updated web page.

The Social Security Administration has announced new inflation-adjusted maximum penalties for civil monetary violations, effective from January 15, 2021, to January 14, 2022. The adjustments are required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. For example, the penalty for fraud facilitators in a position of trust has increased to $8,212, and the penalty for a violative broadcast has increased to $54,157. These updates ensure penalties align with inflation and are applied fairly each year.

The Federal Maritime Commission has issued a final rule to adjust civil monetary penalties for inflation. This adjustment is required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The new penalty amounts are calculated using a formula based on changes in the consumer price index. This rule takes effect on January 15, 2025, and does not require a public comment period due to exemptions from certain rulemaking procedures.

The Securities and Exchange Commission (SEC) announced that The Nasdaq Stock Market LLC has filed a proposed rule change to increase the fees for their Specialized Quote Feed (SQF) Ports and SQF Purge Ports by 10%. These ports are used by Market Makers to send quotes to the exchange, and the increase aims to adjust for inflation and maintain the quality and security of the exchange's technology. Nasdaq cites investments in technology upgrades as a reason for the fee increase, which intends to better align pricing with improvements in service quality. The new fees will be effective from January 1, 2025, and the SEC is seeking public comments on this proposed rule change.

The Department of Health and Human Services (HHS) has updated the poverty guidelines to reflect a 2.9% price increase between 2023 and 2024, measured by the Consumer Price Index. These guidelines help determine eligibility for programs like Medicaid. Each year, HHS adjusts the guidelines based on inflation and ensures that the figures align with Census Bureau estimates. The guidelines are used by various federal and non-federal programs, and specific terms like "income" and "family" are defined by the regulations of each program.

The Department of Transportation issued a final rule that updates the penalties for violations of certain DOT regulations to account for inflation, as required by legislation from 2015. These updates affect various areas such as air and motor vehicle safety, hazardous materials transportation, and railroad operations. The changes include adjustments in the minimum and maximum fines that can be imposed for different types of violations. The rule was implemented immediately and did not include a notice and comment period, as per the stipulations of the legislation enabling these adjustments.

The Federal Maritime Commission issued a final rule to adjust for inflation the civil monetary penalties they assess, following the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This rule requires agencies to announce these adjustments by January 15 every year and is based on changes in the consumer price index. The adjustment process is not required to follow certain procedural steps like public notice or comment, and the rule will not have significant economic impacts. Additionally, the rule doesn’t involve any new collection of information from the public.