With the midterm elections on the horizon, we are pleased to announce the release of our Quarterly Snapshot memo series, bringing you insights from Washington, trends in state legislation, and all things Congress on a quarterly basis.
Washington in 100 Words
The first 20 months of the Biden Presidency have been consequential. The Inflation Reduction Act is the latest addition to a hefty legislative and regulatory agenda.
THE MAJORITY MUST SELL THEIR WORK, MEANING THEY HAVE TO STOP DOING IT.
It took 10 years for the country to appreciate some of the Affordable Care Act policies. With elections around the corner, Democrats cannot afford to wait that long to get credit for their recent legislative endeavors.
CONGRESS’ TO-DO LIST TURNS TO MUST-PASS LEGISLATION.
There are still a few bills that will likely become law in the 117th Congress, including some in “lame-duck.” This could include an end of year tax extenders package, the National Defense Authorization Act (NDAA), and a stop gap measure (continuing resolution) to fund the government while awaiting midterm election results.
CAN DEMOCRATS SNATCH VICTORY FROM THE JAWS OF DEFEAT?
Probably not, but a few data points suggest November may not bring the red tidal wave predicted even two months ago. The axiom that Americans vote with their pocketbooks will be tested in a year of heightened social debate.
BILLS TO WATCH
Continuing Resolution (CR)
National Defense Authorization Act (NDAA)
Prescription Drug User Fee Act (PDUFA)
Tax Extenders Package
THE REGULATORY AGENDA
Government Contracting (8(a), DBE, size standards)
Community Reinvestment Act (CRA)
Inflation Reduction Act (IRA) implementation
Infrastructure Investment and Jobs Act (IIJA)
Inflation Reduction Act (IRA)
Joint Employer (see, California AB-257)
State Small Business Credit Initiative (SSBCI) rollout