Description:
S. 81 would direct the Federal Trade Commission (FTC) to establish an advisory office to assist the commission with preventing fraud that targets seniors. CBO estimates that implementing S. 81 would have no significant effect on the federal budget.
Under current law, the FTC has the authority to issue rules regarding unfair or deceptive acts or practices affecting commerce. Within the FTC, the Bureau of Consumer Protection investigates consumer complaints, develops rules, and educates consumers about those practices. S. 81 would direct the FTC to establish an office within the Bureau of Customer Protection to address deceptive practices targeting seniors. The office would monitor fraud activity, disseminate information regarding common fraud schemes, maintain a website, and log complaints it receives in the Consumer Sentinel Network, which is currently operated by the FTC.
On the basis of an analysis of information from the FTC, CBO estimates that the costs of implementing S. 81 would be less than $500,000 annually because the agency is already taking actions to monitor and disseminate information to prevent fraud targeting seniors. That spending would be subject to the availability of appropriated funds.
Enacting S. 81 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply. CBO estimates that enacting S. 81 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028.
S. 81 contains no intergovernmental or private sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments.
