FY 2024 Appropriations Concludes; Government Funded Through September
At the end of the week, Congress passed a sweeping $1.2 trillion spending package, steering the United States government clear of a looming partial shutdown. The passage of this budget agreement not only underscores the complexities of contemporary American politics but also signals significant repercussions within the political landscape, particularly within the House of Representatives.
GOP Giant Announces Retirement As Leader
On Wednesday, February 28th, Senate Minority Leader Mitch McConnell announced he will step down as GOP leader in November. Sen. McConnell will continue to serve as a Senator but believes it is time for "the next generation of leadership" to take control of the conference. His announcement marks the end of an era for his leadership. In 2023, he became the longest-serving Senate party leader in history.
President Biden's Dynamic State of the Union Sets Tone & Tenor of 2024 Election
In his annual State of the Union address, President Joe Biden delivered a message marked by assertive confidence and commanding strength, intertwined with tones of stern warning and prudent caution, while weaving a narrative of hope and optimism in the enduring idea that is the United States of America.
SEC Adopts Climate Disclosure Rule; Oppositional Litigation Already In Progress
The SEC on Wednesday, March 6th voted 3-2 to adopt new rules that will require most publicly traded companies to disclose climate-related risks in their registration statements and annual reports. Companies will need to start reporting emissions for fiscal year 2026. Some smaller companies won’t be required to disclose emissions.
Fiscal Cliffhangers: The Battle Over FY2024 Spending and the Road to FY2025
Congress is yet again staring down the barrel of a government shutdown. With the upcoming deadlines to pass the necessary appropriations bills or a new Continuing Resolution looming, Congress must also contend with the approaching FY2025 appropriations process. Here is a look at where FY2024 appropriations stand and what it means for the next fiscal year.
ITC Removes Duties on Tin Mill Steel
In a unanimous vote on February 6, the International Trade Commission (ITC) ruled there will no longer be duties on tin mill steel from Canada, China, and Germany.
Trends & Dynamics of the 2024 Election
With the 2024 election season fully underway, welcome to the Constitution Partners analysis of trends and dynamics for the presidential and congressional races we are tracking.
Tax Bill Heads to Senate
On Wednesday, January 31st, the House passed the Tax Relief for American Families and Workers Act in a bipartisan 357-70 vote. The $78 billion bipartisan bill marks a significant success for House Ways and Means Committee Chair Jason Smith (R-MO) and also for Democrats with the inclusion of the child tax credit (CTC).
Medicare Opens Drug Price Negotiation Period
On February 1, drugmakers received initial offers for how much Medicare is willing to pay for their medicines, kicking off drug price negotiations for the first time. Companies have one month to counteroffer.
Biden Administration Pauses New LNG Export Approvals
On Friday, January 26, the Biden administration temporarily paused pending decisions on exports of Liquefied Natural Gas (LNG) to non-free trade agreement (FTA) countries until the Department of Energy (DOE) can update its underlying analyses for authorization. This measure will likely disrupt plans for billions of dollars in natural gas projects.
Bipartisan Tax Package Announced; Approved by House Ways & Means Committee
After months of anticipation, Senate Finance Committee Chairman Ron Wyden (D-OR) and House Ways & Means Committee Chairman Jason Smith (R-MO-08) have announced The Tax Relief for American Families and Workers Act of 2024, a bipartisan tax agreement totaling roughly $80 billion. The bill was approved by the House Ways & Means Committee on Friday, January 19.
Congress Passes Yet Another Stopgap Spending Bill
In a 314 to 108 vote on January 18, 2024,, the House of Representatives passed another stopgap spending bill sending it to President Biden’s desk and averting a government shutdown.
Section 301 Tariff Exclusions Extended
On December 26, 2023, the Office of the United States Trade Representative (“USTR”) announced that it will further extend 352 reinstated exclusions and 77 COVID-related exclusions to duties imposed on goods from China pursuant to Section 301 of the Trade Act of 1974 until May 31, 2024. A docket for public comments on existing exclusions will open on January 22, 2024 and close on February 21, 2024, giving American businesses just one month to restate their case.
Another Section 301 Extension on the Horizon
The Biden Administration intends for the Section 301 product exclusions to continue in tandem with the review period, so they anticipate another extension to be issued before the December 31st deadline.
Retirements & Resignations Create Obstacles for 118th (and 119th) Congress
Ousted Speaker Kevin McCarthy has announced his resignation from office after a 17-year tenure, marking the end of an era for a generation of House Republicans. McCarthy's departure signifies a shift within the Republican leadership, especially considering his association with former Reps. Paul Ryan and Eric Cantor, collectively known as the "Young Guns," who advocated for a new style of GOP governance.
Thanksgiving Reflections on the American Food and Agriculture Industry
The Thanksgiving season is the perfect time to reflect on food production and security in the United States and to give thanks to the agriculture laborers who work so hard every day to make sure all forms of safe, nutritious food are available to all Americans. In that spirit, let’s reflect on the critical issues that have faced the agriculture industry this year.
Congress Avoids 2023 Funding Lapse; Sets Up Early 2024 Funding Showdown, But Funds Farm Bill For One Year
Congress has passed a stopgap bill to keep the government open, putting Congress on a path to avert a shutdown this Friday and setting the stage for a broader funding fight in the new year.
Congress Avoids Yet Another Spending Deadline
After months of internal fighting, Congress has passed a stopgap bill to keep the government open, putting Congress on a path to avert a shutdown this Friday and setting the stage for a broader funding fight in the new year. It now heads to President Joe Biden’s desk, where he is expected to sign the legislation tomorrow evening.
Shutdown Showdown: Ukraine, Israel, and Everything in Between
Congress is staring down yet another deadline for avoiding a U.S. government shutdown. This will likely require Congress to approve a short-term spending bill by November 17, giving lawmakers more time to negotiate on the 12 appropriations bills to fund federal programs through September 30, 2024.
Senator Manchin Announces He Will Not Run for Re-Election
On Thursday, November 9, Senator Joe Manchin of West Virginia announced in a video message to constituents that he would not seek re-election to the United States Senate.