Federal Budget

News & Analysis as of

Be Wary of Estate Tax Provisions in the Proposed Fiscal Year 2016 Budget

It's time to call your estate and financial planners - new tax provisions in the proposed FY 2016 budget once again show the specter of potentially brutal taxes at death for the moderately wealthy....more

Obama Administration's 2016 Budget Proposal

You may have seen references to President Obama's 2016 budget proposals and how they might affect your gifting and estate planning opportunities. Given that Congressional Republicans, who now control both the House and the...more

Department of Homeland Security Shutdown 2015: The Effect on Immigration Services

The Senate remains at a stalemate over funding of the Department of Homeland Security (“DHS”), with funding running out on Friday, February 27. A full budget was passed for the rest of the US government in December. However,...more

The President’s FY2016 Federal Budget Request: Programs Relevant to Tribal Energy Development

The White House transmitted its Fiscal Year 2016 Budget Request to Congress on February 2, 2015. Overall, the budget includes over $7.4 billion in funding for clean energy technology programs across the federal agencies. ...more

PCAOB Update: 2015 Budget and Broker-Dealer Audits

On Feb. 4, 2015, Public Company Accounting Oversight Board (PCAOB) Chairman James R. Doty provided an update on the Board’s 2015 budget at the Securities and Exchange Commission’s (SEC’s) Open Meeting in Washington, D.C. Even...more

White House Budget Proposal Includes Many Retirement-Related Provisions

On February 2, 2015, the White House released its Fiscal Year 2016 Budget, which includes a number of tax code changes targeting retirement savings. If enacted as presented, the proposals would have a significant effect on...more

USDA Releases 2016 Budget Request, Continues To Support Rural Renewable Energy

The U.S. Department of Agriculture (USDA) released its fiscal year 2016 budget request on February 2, 2015. The proposed budget is $156 billion total, with $6 billion going directly to loans that will encourage cleaner fossil...more

DOE Increases Funding For Clean And Renewable Energy In 2016 Budget Request

On February 2, 2015, the White House released the 2016 fiscal year budget request for the U.S. Department of Energy (DOE). Under this proposed plan, DOE would receive $29.9 billion, an increase of $2.6 billion from the 2015...more

Key Energy-Related Tax Provisions in the 2016 Budget Proposal

In This Issue: - Modify and Permanently Extend the Production Tax Credit - Enhance and Make Permanent the Research and Experimentation Tax Credit - Provide Carbon Dioxide Investment and Sequestration Tax...more

Locke Lord QuickStudy: February 2015 Update on Federal Budget Sequestration Affecting Build America Bonds and Other Direct Pay...

As we have noted in previous client advisories, under current law, direct pay bond subsidy payments are subject to federal budgetary sequestration through fiscal year 2024. On February 2, 2015, the Office of Management and...more

What Does President Obama's $215 Million "Precision Medicine Initiative" Mean for Genetic Privacy?

We have all heard about the burgeoning opportunities tied to the development of precision medicine (also called “personalized medicine”), which includes the use of an individual’s genetic information to design targeted...more

Government, Businesses Prioritize Cybersecurity Spending

If spending is a good indicator of shifting priorities for both business and government, then cybersecurity is quickly becoming priority number one. Last week, the White House announced a proposed 10 percent increase...more

The President’s Groundhog’s Day Budget Casts a Shadow on Some but Offers Sunshine for Others

On February 2nd, President Obama released his Fiscal Year (FY) 2016 budget request to Congress. Along with the budget, the Department of the Treasury (Treasury) released a volume called “General Explanations of the...more

State/Local Bond Proposals in Administration's 2016 Budget

Several proposals affecting tax-exempt bonds were included in the Obama Administration's Budget for FY 2016. As usual, the overall budget proposal has immediately been declared DOA by political pundits. Nonetheless, taking...more

President's FY 2016 Budget Proposal: A Detailed Look At The Defense Budget And The Threat Of Sequester

President Obama’s defense base budget request for FY 2016 is $534.3 billion, which is an increase of $38.2 billion over the FY 2015 enacted amount. The request also includes $50.9 billion for the Overseas Contingency...more

Obama Administration’s FY 2016 budget would modify LIHTCs, permanently extend NMTC and energy tax credits

As in prior years, the Obama administration’s FY 2016 budget includes a number of impactful, and generally positive, tax credit proposals. With respect to the Low-Income Housing Tax Credit (LIHTC), the budget retains many of...more

Washington Healthcare Update

This Week: President’s FY2016 Budget Request... FDA Commissioner Hamburg to step down... Tennessee Medicaid expansion plan rejected by legislature. 1. Congress House House Ways and Means Committee Hosts Hearing...more

Administration Submits Proposal To Increase OFCCP Budget For FY2016

On February 2, President Obama released his fiscal year 2016 budget proposal. The proposed budget includes nearly $113.7 million in annual appropriations to the Department of Labor’s Office of Federal Contract Compliance...more

Locke Lord QuickStudy: The Fate of Partnerships Under President Obama’s 2016 Proposed Budget

On Monday, February 2, President Obama formally released his 2016 budget proposal and, as expected, it contained numerous changes to the Internal Revenue Code. ...more

Obama’s Proposed 2016 Budget Seeks To Address Infrastructure Needs

The Obama administration's proposed 2016 budget, released on February 2, 2015, reflects the administration's commitment to finding ways to finance the country’s growing infrastructure requirements. The 2016 budget includes...more

CPSC's FY 2016 Budget Request Would Create Center for Consumer Product Applications and Safety Implications of Nanotechnology

The Consumer Product Safety Commission’s (CPSC) fiscal year (FY) 2016 budget request includes funding to establish a Center for Consumer Product Applications and Safety Implications of Nanotechnology (CPASION), which is...more

Energy Technology Connections Newsletter: Your Law Firm Link to Industry News - February 2015

In This Issue: - Leaders in the News - Event Highlights - Innovator Profile - Washington Update - Energy Navigator - Upcoming Events - Excerpt from Leaders in the News: We’re excited to...more

President’s FY 2016 Budget Proposal - Detailed Analysis of The Tax And Revenue Implications

In This Issue: - Introduction - Executive Summary - The Current Tax Landscape - Tax Proposal Highlights from the Administration's FY 2016 Budget - Excerpt from Introduction: As was...more

Health Reform + Related Health Policy News - January 2015, Issue 1

In This Issue: - Health Proposals - Department of Health & Human Services - Medicare - For More Information - Excerpt from Health Proposals: Department of Health & Human Services...more

President Obama Releases Budget Request, Commits Heavily to Energy and Climate Push

On Monday, President Obama released his fiscal year 2016 budget request as Congress continues to address energy issues including the Keystone XL pipeline, LNG export legislation, and tax reform. ...more

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