Capitol View: A Publication Of Venable's Legislative And Government Affairs Practice Group - April 2011


In this issue:

The Looming Threat of a Government Shutdown Remains:

The deadline for a government shutdown is hours away and while progress has reportedly been made, it is far from certain that an agreement can be reached in time to avert the first shutdown in 15 years. The current stopgap funding expires Friday, April 8th at midnight. If a shutdown were to occur, some areas of the government would have to suspend their activities until a funding bill was agreed upon, which would affect about 800,000 workers. Federal employees performing jobs deemed as "essential", such as defense, health care, national security, or emergency-related would be exempt from the shut down....

Dodd-Frank Act: Slowly Repeal it All or Just Slow It Down?

The GOP takeover in the House of Representatives last fall prompted many to question the future of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd Frank Act"), and whether an attempt would be made to repeal the financial regulatory overhaul....

Long-Term FAA Reauthorization Passes in House:

Late last week, the House passed a four-year, $59.7 billion reauthorization for the Federal Aviation Administration (FAA). H.R. 658 passed by a vote of 223-169. The Senate passed its own version of the bill in February. S.223 is a two-year, $34.6 billion reauthorization. There were over 30 amendments considered in the House, with 14 of those being adopted....

Congress Passes Form 1099 Repeal Legislation:

This week, the Senate voted in favor of the House-passed version of H.R. 4, the "Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011." After failing to adopt Senator Robert Menendez's (D-NJ) amendment that would modify the offset in the legislation, lawmakers voted 87-12 in favor of repealing a 1099 form requirement. As the Senate action did not alter the House-passed bill, the legislation now heads to the White House. If signed into law (which is the expectation), the legislation would mark the first significant change to the Democratic supported health care overhaul law.....

Please see full newsletter below for more information.

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Published In: Elections & Politics Updates, Finance & Banking Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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