News & Analysis as of

Debt Ceiling

SLGS Window Closing; Tax Reform Continues to Threaten Public Finance

by Bracewell LLP on

On December 6, 2017, the U.S. Department of the Treasury announced the suspension of sales of United States Treasury Obligations – State and Local Government Series (i.e., SLGS), effective 12:00 noon Eastern Time, Friday,...more

Treasury Suspends Sales of State and Local Government Series Securities

by Miles & Stockbridge P.C. on

The U.S. Department of the Treasury’s Bureau of the Fiscal Service (the “Treasury”) announced on December 6, 2017 the suspension of sales of State and Local Government Series (SLGS) nonmarketable Treasury securities,...more

Window on Washington - Vol. 1, Issue 37

by Clark Hill PLC on

House Majority Leader McCarthy informed members on Thursday that they should be ready to vote this evening on a motion to go to conference with the Senate on tax legislation, despite the House not scheduled to be in session....more

White House Reaches Deal with Congressional Democrats to Keep Government Open and Suspend Debt Limit Until December

by Baker Donelson on

President Trump came to an agreement with congressional Democrats to extend FY17 federal appropriations and suspend the debt limit until December 8. The deal, which took congressional Republicans by surprise, was paired with...more

What’s New in Washington - October 2017

Congress returned after Labor Day for a busy September and acted quickly to avoid a government shutdown by passing stop gap funding for Fiscal Year (FY) 2018 and raising the debt ceiling. The already crowded congressional...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 27

by Clark Hill PLC on

Senate Again Delays Action on Remaining Appropriations Bill: The Senate has yet to schedule any mark-ups for next week for its remaining four appropriations bills (Clark Hill Insight). Senate Reaches Deal on Budget...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 26

by Clark Hill PLC on

House Finishes Work on Its Annual Appropriations Bills, For Now: The House narrowly passed a $1.2 trillion package of spending bills to fund the government for Fiscal Year 2018 by a vote of 211-198. Amendments offered to the...more

H.R. 601 Extends EB-5 Program and Provides $15.25B of Disaster Relief Funds

by Ballard Spahr LLP on

President Trump has signed into law H.R. 601, a continuing resolution that funds the federal government through December 8, 2017, and thereby extends the EB-5 Regional Center Program beyond September 30, 2017—the end of the...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 25

by Clark Hill PLC on

House and Senate Overwhelmingly Passed Legislation that Included a Short-Term Continuing Resolution, Lift of the Debt Ceiling, and Emergency Aid: The bill includes over $15 billion in disaster assistance for Hurricane Harvey...more

Debt Ceiling Expected to be Breached at the End of September

by Baker Donelson on

According to Treasury Secretary Steve Mnuchin, the U.S. will hit its debt limit at some point in late September. Congress has until then to raise the federal debt ceiling before the Department of the Treasury's so-called...more

August 2017 Federal Report: Infrastructure, Debt Ceiling and Budget

by Best Best & Krieger LLP on

With the August work period coming to an end for Congress, there are the looming questions of the federal budget, and the debt ceiling hanging over the halls of the Capitol....more

Government Shutdown Looms Larger As President Seeks Funding For Border Wall

Last week, President Trump threatened to force a government shutdown if Congress did not provide funding for a wall along America’s southern border with Mexico. In April of this year, Congress reached an agreement on a...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 23

by Clark Hill PLC on

CBO Confirms Size of Breach of Defense Cap for FY18 Bills: The House FY18 Omnibus Appropriations Bill scheduled to be taken up in September would bust the Defense cap by $72 billion. This would cause the Office of Management...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 22

by Clark Hill PLC on

House Rules Committee Posts Text of Spending Bills, Striking DACA Provision: House Rules Committee posts text for eight appropriations bills, striking language in the fi­nancial services spending bill allowing participants in...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 21

by Clark Hill PLC on

US Budget Deficit Narrowed to $42.9 Billion in July: The federal budget deficit fell sharp­ly in July from a year earlier, largely because of a quirk in the calendar. The U.S. Treasury Department said that the budget gap came...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 20

by Clark Hill PLC on

McConnell Sets Next Senate Vote for Sept. 5 (The Washington Post). House Set to Bundle 8 Leftover Spending Bills in September: Republicans are set to tackle remaining appropriations bills after returning from August recess,...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 19

by Clark Hill PLC on

House Passes Spending Bill That Includes Over $1 Billion in Border-Wall Funding: The House passed a $788 billion spending bill that combines a $1.6 billion down payment for President Donald Trump's controversial border wall...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 17

by Clark Hill PLC on

EPA Appropriations Bill: A House appropriations bill for fiscal year 2018 would trim the budget of the Environmental Protection Agency by $500 million, as opposed to the $2.6 billion cut requested by the White House. The...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 15

by Clark Hill PLC on

Agriculture Spending Bill Calls for $876M in Discretionary Cuts: House appropriators unveiled a fiscal 2018 agriculture and food safety draft spending bill that would provide $20 billion in discretionary funding, which is...more

Washington, D.C. Update – June 2017

by Baker Donelson on

Having returned from its Memorial Day recess, Congress now enters one of the longest continuous work periods of the year and – with the exception of the week of the Fourth of July – will likely be in session until the end of...more

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 14

by Clark Hill PLC on

House Budget Writers Reach Tentative Agreement: The House Budget Committee is planning to unveil a long-awaited budget resolution next week calling for a spending boost to the Pentagon alongside cuts to domestic programs,...more

Debt Limit Deadline May Be Reached Earlier Than Expected

by Baker Donelson on

On March 16, the debt limit ceiling suspension agreed to in the lead up to the 2016 elections officially expired, meaning the U.S. government can no longer take on additional debt until the ceiling is raised. Currently, the...more

What’s New in Washington - June 2017

Despite the headlines coming out of Washington, Congress continues to move forward in regular fashion, discussing and acting upon key issues, such as funding the government, addressing the need to raise the debt ceiling and...more

Public Finance Update – SLGS Window Closing

by Bracewell LLP on

On March 8, 2017, the U.S. Department of the Treasury announced the suspension of sales of United States Treasury Obligations – State and Local Government Series (i.e., SLGS), effective 12:00 noon Eastern Time, March 15,...more

Debt Limit Suspension to Expire March 15

by Baker Donelson on

Because of a deal struck in Fall 2015 to avoid a debt ceiling showdown during the 2016 election season, the statutory debt limit expiration is suspended through March 15, 2017. If Congress fails to raise the debt limit by...more

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