Comprehensive Tax Reform Outlook
Our very own Denise Bode has been named as one of Washington DC's 500 most influential people shaping policy in 2024. This is an incredible accomplishment and recognizes Denise's countless contributions to both her clients, colleagues, and her dedication to making meaningful policy change in Washington.
Agriculture Committee Leaders Provide Broad Frameworks for Farm Bill
This week, both the House and Senate majorities published general summaries making up the core pillars of each respective Farm Bill legislative proposal. House Republicans led off with a title by title summary of the Republican version of the bill earlier this week. Chairman GT Thompson (R-PA-15) noted his intent to hold a markup hearing for their bill on May 23rd. Full legislative text would be released several days beforehand.
The Evolution of Speaker Johnson's Stance on Ukraine
On Tuesday April 23 the Senate voted to approve a new aid package for Ukraine, ending months of struggle between Speaker Mike Johnson and the White House.
Congressional Review Act During the 2024 Election
This week, the Biden administration faced pressure to finalize several rules in time to avoid the Congressional Review Act (CRA) deadline that would allow lawmakers to overturn them. Here is an overview of several proposed rules, as well as an explanation of the Congressional Review Act.
Tax Bill Heads to Senate
On Wednesday, January 31st, the House passed the Tax Relief for American Families and Workers Act in a bipartisan 357-70 vote. The $78 billion bipartisan bill marks a significant success for House Ways and Means Committee Chair Jason Smith (R-MO) and also for Democrats with the inclusion of the child tax credit (CTC).
Biden Administration Pauses New LNG Export Approvals
On Friday, January 26, the Biden administration temporarily paused pending decisions on exports of Liquefied Natural Gas (LNG) to non-free trade agreement (FTA) countries until the Department of Energy (DOE) can update its underlying analyses for authorization. This measure will likely disrupt plans for billions of dollars in natural gas projects.
Bipartisan Tax Package Announced; Approved by House Ways & Means Committee
After months of anticipation, Senate Finance Committee Chairman Ron Wyden (D-OR) and House Ways & Means Committee Chairman Jason Smith (R-MO-08) have announced The Tax Relief for American Families and Workers Act of 2024, a bipartisan tax agreement totaling roughly $80 billion. The bill was approved by the House Ways & Means Committee on Friday, January 19.
Retirements & Resignations Create Obstacles for 118th (and 119th) Congress
Ousted Speaker Kevin McCarthy has announced his resignation from office after a 17-year tenure, marking the end of an era for a generation of House Republicans. McCarthy's departure signifies a shift within the Republican leadership, especially considering his association with former Reps. Paul Ryan and Eric Cantor, collectively known as the "Young Guns," who advocated for a new style of GOP governance.
Thanksgiving Reflections on the American Food and Agriculture Industry
The Thanksgiving season is the perfect time to reflect on food production and security in the United States and to give thanks to the agriculture laborers who work so hard every day to make sure all forms of safe, nutritious food are available to all Americans. In that spirit, let’s reflect on the critical issues that have faced the agriculture industry this year.
Congress Avoids 2023 Funding Lapse; Sets Up Early 2024 Funding Showdown, But Funds Farm Bill For One Year
Congress has passed a stopgap bill to keep the government open, putting Congress on a path to avert a shutdown this Friday and setting the stage for a broader funding fight in the new year.
Mike Johnson (LA) Ascends to Speaker of the House
In a vote on Wednesday October 25th, Mike Johnson was unanimously elected Speaker of the House by the Republican Caucus, receiving 220 votes. Johnson succeeds Rep. Kevin McCarthy (R-CA) after nearly three weeks without a speaker.
Biden Administration Eases Oil Sanctions on Venezuela After Election Negotiations
On Wednesday, October 18th the Biden Administration announced that it is easing sanctions against companies that trade oil produced in Venezuela or invest in its oil industry. The United States has imposed sanctions against the Venezuelan government or individuals for more than 15 years, but significantly tightened them in early 2019 after declaring Maduro’s 2018 victory illegitimate. This new deal comes in response to Venezuela announcing they will allow free elections next year, 2024.
A Very Dangerous Time For America To Be Without One Of Its Leaders
On Thursday, October 12, Rep. Steve Scalise withdrew his name for consideration as speaker of the House. Scalise had won the nomination for Speaker Republican conference approval 113-99 (212 total) on Wednesday, October 11th. On October 13, the House met again and in a 124-81 (205 total) vote, Republicans picked Jordan over Rep. Austin Scott (R., Ga.), a low-profile Republican who made a last-minute decision to run as the candidate for Jordan critics.
Oil Prices Hit 10-Month High
Yesterday, September 18th, the price per barrel neared $95, reaching a new 10-month high. This increase is up from $72 a barrel at its lowest in June, this difference marks the largest jump since Russia’s invasion of Ukraine. Rising crude oil prices directly impact higher prices at the gas pump, one of the most visible hallmarks of inflation.
United Auto Workers Go On Strike
On Friday, September 15th, about 13,000 US auto workers stopped making vehicles and began their strike after failures to negotiate between United Auto Workers (UAW) and Detroit's big three automakers. Members of UAW began picketing at a General Motors assembly plant in Wentzville, Missouri; a Ford factory in Wayne, Michigan; and Stellantis Jeep in Toledo, Ohio.
The Rise of Geothermal Energy
Geothermal has historically struggled to make a name for itself in the clean energy space. However, in recent years, various companies and projects have emerged that are dedicated to exploring the possibilities that geothermal energy presents.
Price Check: Labor Day Holiday Offers Opportunity for Travel Costs Assessment
As Labor Day Weekend approaches and many families seek to enjoy the final few weeks of summer vacation, lets take a look at where fuel costs for transportation are impacting the cost of travel this Summer compared to recent years.
Congress Tackles Permitting Reform
This last week featured new activity in the U.S. Senate on the issue of additional permitting reform for pipelines and electric transmission.
Smoke Signals & Taxing Events
It was a busy week in the nation’s capital. The Constitution Partners team reviewed the major events driving American public policy and business interests, and have provided a summarized overview for your review.
Interagency Collaboration on Hydrogen Tax Matters as Biden Administration Publishes First Strategic Roadmap
Technical experts from the Department of Energy are weighing in on how the Treasury Department should devise a production tax credit for hydrogen.