Various media have recently reported that China has overtaken the United States to become the world’s largest economy (a position the United States had held at least since 1913), based on estimates of purchasing power parity (PPP) measurements and projections made by the International Monetary Fund (IMF). This report examines the data and its policy implications.

The Small Business Administration (SBA) administers several programs to support small businesses, including loan guaranty programs, disaster loan programs, management and technical assistance training programs, and federal contracting programs. Congressional interest in these programs has increased in recent years, primarily because they are viewed as a means to stimulate economic activity, create jobs, and assist in the national economic recovery. This report examines the economic research on net job creation to identify the types of businesses that appear to create the most jobs.

This report describes recent policy changes made by FHA and recent legislative proposals that would make additional changes to FHA's single-family program. For the most part, this report does not go into detail about the features of FHA-insured loans, FHA's market role, or its financial status, except as necessary to describe implemented or proposed policy changes.

This report covers two proposed permit drafts by the Environmental Protection Agency (EPA) regarding Vessel General Permits (VGPs): one for large vessels to replace the 2008 VGP (draft VGP), and one for smaller vessels that currently are covered by a congressionally-enacted temporary moratorium (draft sVGP).

This report outlines the trend in Disaster Relief Fund (DRF) obligations for both the national and state level for the period FY2000 through FY2013. It also includes individual profiles for each state and additional resources and key policy staff that can provide more information on the programs that are discussed.

This report covers the dispute between the U.S with its neighbors, Canada and Mexico, who say that the recent country-of-origin labeling (COOL) system implemented by the U.S. Department of Agriculture is unfair and does not meet its original objectives. This dispute was brought before the WTO dispute panel and found to be valid. The report ends with a discussion of options for the U.S. in regards to modifying COOL to follow WTO rulings.

This report discusses the Budget Act that provides an optional expedited procedure for considering legislation in the Senate, called reconciliation, which was first used in 1980.

This legal sidebar briefly discusses the U.S. victims of the 1979-1981 Iran Hostage Crisis, who will become eligible to receive up to $4.4 million each in compensation, thanks to the Justice for United States Victims of State Sponsored Terrorism Act.

This report considers topics that are likely to arise as the 114th Congress debates reauthorization.

This report describes the final revised rule--which the agencies refer to as the Clean Water Rule-- and includes a table comparing the existing regulatory language that defines "waters of the United States" with the revisions.

This report discusses several options that congress could consider and that are reflected in bills in the 114th Congress.

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This report discusses the growing vulnerabilities Emerging market (EM) countries are facing due to declining global trade, depreciating currencies, sharply lower commodity prices, volatile equity markets, and deeper economic reforms.

This report explains the motivation behind cargo preference law, discusses issues concerning the cost-effectiveness of the program, and reviews attempts to apply cargo preference to the nation's oil trade. The report also identifies several disparate bills reflecting wide disagreement on the future direction of cargo preference policy.

This report discusses the effects of the Budget Control Act of 2011 (BCA; P.L. 112-25) on spending and the deficit, assuming that the automatic spending reductions proceed as scheduled from FY2016 to FY2021 and the discretionary spending caps remain in place.

This report discusses a recent judgement by the Court of Justice of the European Union (CJEU) that invalidates the Safe Harbor Agreement between the United States and the 28-member European Union (EU). Safe Harbor is a 15-year-old accord, under which personal data could legally be transferred between EU member countries and the United States.

This report provides background on the the Financial Stability Board's (FSB) designation process for systemically significant financial institutions, but takes no position on any potential benefits or shortcomings of that process.

This report discusses the Surface Transportation Reauthorization and Reform Act of 2015 (STRRA), which provides only those spending increases the Congressional Budget Office (CBO) has determined are needed to cover projected inflation in the cost of the existing surface transportation program.

Overall, homicide and violent crime rates have been trending downward for more than two decades, and both rates are at historic lows. An analysis comparing 2014 and 2015 homicide data from the nation's 60 most populous cities suggests that violent crime is not increasing. This report discusses several short-term factors that might help explain some of the reported upticks in violent crime across the country.

This report provides an annotated list of historical documents and other resources related to several past government shutdowns. Sources for these documents and resources include the Congressional Research Service (CRS), Government Accountability Office (GAO), House and Senate Committees, Office of Management and Budget (OMB), Office of Personnel Management (OPM), and Executive Office of the President.

This report provides links to cybersecurity legislation in the 112th, 113th, and 114th Congresses and a list of executive orders and presidential directives pertaining to information and computer security.

This report discusses the EPA's review of the National Ambient Air Quality Standards (NAAQS). After several years of analysis, EPA proposed more stringent standards last November. This began a public comment period, leading toward the final decision.

This report describes the final revised rule defining the scope of waters protected under the Clean Water Act (CWA)--which the agencies refer to as the Clean Water Rule--and includes a table comparing the existing regulatory language that defines "waters of the United States" with the revisions.

This report discusses the impeachment process, which provides a mechanism for removal of the President, Vice President, and other "civil Officers of the United States" found to have engaged in "treason, bribery, or other high crimes and misdemeanors."