Threat of a Shut Down and Lame Duck Priorities
With only a few days left this month for legislative action while Republicans control the House and Senate, the top two priorities are funding the government and passing a new farm bill. Appropriations bills have not yet been passed to fund the departments of Homeland Security, Agriculture, and Commerce.
End-of-Year Tax Questions
House Ways and Means Chairman Kevin Brady (TX) released a 300-page tax bill last month seeking more tax changes before the House changes hands from Republican to Democratic leadership in January. While this bill is unlikely to pass, it includes tax “extenders” like energy efficient home credits that are typically passed each year as well as temporary tax relief for victims of disasters.
Infrastructure – a Bipartisan Priority?
As Democrats gain the majority in the House, one priority that may gain support from both parties is infrastructure investment. President Trump was not able to negotiate an infrastructure deal with his Republican leadership in his first two years in office and may welcome a deal that increases transportation spending. The Highway Trust Fund is set to run out of funding in 2020.