Quickly approaching November 3, 2020, we are in the final days of what is expected to be a contentious and consequential presidential election in the United States. With the whirlwind news cycles at the end of the campaign...more
10/28/2020
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Trade Wars
As Democrats “gather” next week for their (mostly virtual and remote) convention to formally nominate Joe Biden as their candidate for President, it is important to think about what a Biden presidency would mean for your...more
On 23 June, the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) released a proposed rule, Financial Factors in Selecting Plan Investments (the Proposed Rule). EBSA has regulatory authority over...more
On May 12, the Senate Judiciary Committee held a hearing to examine the issue of whether the next round of coronavirus (COVID-19) relief legislation should include limits on employees and consumers’ ability to sue health care...more
On April 30, the Federal Reserve Board (“Board”) announced an expansion of the Main Street Loan Program and updated terms to the program’s original offerings. The program is now comprised of the Main Street New Loan (“New...more
On Thursday, April 9, the Federal Reserve Board (“FRB”) announced the terms sheets of four new liquidity facilities and expanded the scope of the previously announced Term Asset-backed Securities Liquidity (“TALF”), the...more
On March 31, the Federal Reserve Board (“FRB”) announced the establishment of a temporary repurchase agreement facility for foreign and international monetary authorities, known as the “FIMA Repo Facility.” This is the...more
To mitigate the “severe disruptions” to the U.S. economy caused by the COVID-19 crisis, the Federal Reserve Board (“Federal Reserve”) is ramping up its efforts to “support…the flow of credit to American families and...more
The Federal Reserve is establishing a Money Market Mutual Fund Liquidity Facility (“MMFL Facility”) for prime money market mutual funds to support “the flow of credit to households and business” in these current markets. ...more
I. INTRODUCTION -
As a result of the recent outbreak of COVID-19, financial markets and institutions have experienced significant disruptions. ...more
On March 14, the House of Representatives passed the Families First Coronavirus Response Act (H.R. 6201), as amended, in a 363-40 vote; the House subsequently passed an amended version of the measure on March 16 containing...more
The tax code could play a key role as discussions about a tax stimulus package intensify -
The coronavirus has taken over Washington, D.C., if not through infection, then through a focus on policy prescriptions to help the...more
President Trump discussed various economic stimulus proposals with Senate Republicans yesterday aimed at mitigating the impact of the coronavirus. The President announced earlier this week that proposals could include a...more
As the novel coronavirus (COVID-19) continues to spread globally and the number of cases in the U.S. grows, attention on Capitol Hill has shifted to potential legislative responses aimed at combatting the outbreak and...more
The Federal Government is evaluating options to mitigate the health and economic impact of the coronavirus. As reported in our previous alert, President Trump signed into law an $8.3 billion supplemental funding package (H.R....more
EMERGENCY SUPPLEMENTAL -
This week, Congress passed an $8.3 billion emergency funding measure (H.R. 6074) to combat the coronavirus. ...more
On December 18, the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) issued its long-awaited decision in Texas v. United States. ...more
On November 6, 2019, the Securities and Exchange Commission (“SEC”) voted 3-2 to issue two notices of proposed rulemaking (“NPR”) amending the requirements to submit and resubmit shareholder proposals, and modifying the rules...more
On May 14, 2019, the Board of Governors of the Federal Reserve System (the “Board”) issued a notice of proposed rulemaking to revise the Board’s regulations on determining controlling influence over a company for purposes of...more
The Senate Finance Committee has launched a new effort to consider the fate of dozens of temporary tax provisions (or “extenders”) that have expired in recent years, as well as other provisions slated to expire in 2019 and...more
Sen. Tammy Baldwin (D-WI) and Rep. Bill Pascrell (D-NJ) recently reintroduced the “Carried Interest Fairness Act of 2019” (the “Act”). The sponsors claim that the Act would “provide for the proper tax treatment of personal...more
On October 23, the Department of Labor (“DOL”) published a proposed rule intended to make it easier for small businesses to join together to offer employee retirement benefits through defined-contribution Association...more
On September 15, 2008, Lehman Brothers declared bankruptcy, an event considered by many to mark the beginning of the credit crisis of 2008–2009 and the unprecedented public policy responses that followed. Much has been...more
The Internal Revenue Service (“IRS”) has released proposed regulations explaining how taxpayers should calculate the Section 199A deduction for qualified business income. ...more
Department of Labor Issues Final Rule that Expands Association Health Plans -
On June 21, 2018, the Employee Benefits Security Administration, Department of Labor (“DOL”) issued a final rule that establishes additional...more