Capitol View - December 2010

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Venable's Legislative and Government Affairs team welcomes you to this special edition of Capitol View, where we will be providing thoughtful analysis of the latest developments from the lameduck Congress. Beginning in January 2011, Capitol View will be published on a monthly basis and will provide news and analysis from Capitol Hill on the issues impacting your business.

Introduction

As the 111th Congress draws to a close and Congress looks to welcome a freshman class of 106 in January, the current House and Senate continues to tie-up loose ends before the lame-duck session adjourns. The most contentious issue of the lame-duck session has been how to address the President George W. Bush-era tax cuts, which are set to expire at the end of this year. Other issues on the agenda for lawmakers include the repeal of the controversial "don't ask, don't tell" policy, ways to reduce the budget deficit and how to revive the expired unemployment benefits. Senate Minority Leader Mitch McConnell (KY) threatened on behalf of Senate Republicans to block any legislation until a deal was struck on the tax provisions. If Congress is able to come to an agreement on President Obama's tax proposal, the possibility of movement and action on other issues before adjournment still remains.

In This Issue:

Tax: A compromise on tax cuts, but many uncertainties remain; Budget Deficit: Bipartisan cooperation needed; DREAM Act: Lame-duck vote might be last chance until 2012; START Treaty; and, DADT.

Please see full publication below for more information.

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Published In: Administrative Agency Updates, Elections & Politics Updates, Finance & Banking Updates, Immigration 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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