Stakeholders are just beginning to evaluate key tax policy changes in Republicans’ multi-trillion-dollar reconciliation package, known as the One Big Beautiful Bill Act (OBBBA), including the long-term impact of several new and modified business tax reforms. Nevertheless, less than one week after final passage of OBBBA, key congressional leaders, including House Budget Committee Chairman Jodey … Continue Reading
On June 28, 2024, in a 6-3 decision in Loper Bright Enterprises v. Raimondo, the Supreme Court overturned the Chevron doctrine, a decades-old precedent that largely pressed federal courts to defer to federal agency interpretations of ambiguous statutes under their jurisdiction. The full implications of this decision merit ongoing attention and preparation for a changed … Continue Reading
On April 11, 2024, the Committee on Foreign Investment in the United States (CFIUS), a multi-agency committee administered by the U.S. Treasury Department, released a proposed rule (“Proposed Rule”) to amend the CFIUS regulations.[1] The Proposed Rule seeks “to enhance the Committee’s identification and resolution of national security risks” by expanding the scope of information … Continue Reading
Moderated by Stephen Lerner and hosted by the American Bankruptcy Institute (ABI), a multidisciplinary team from our firm engaged in a wide-ranging discussion about the crisis in Ukraine. Topics included geopolitics, the global economy, sanctions and trade compliance, supply chains, the legal response from Moscow, and other business critical issues. Watch the webinar recording here.… Continue Reading
On July 9, 2021, President Joe Biden issued an Executive Order (EO) “Promoting Competition in the American Economy.” The EO affirms that it is the administration’s policy “to enforce the antitrust laws to combat the excessive concentration of industry, the abuses of market power, and the harmful effects of monopoly and monopsony.” While certain portions … Continue Reading
Are you an American company interested in doing business in emerging and developing markets, but concerned about the risk they present?… Continue Reading
Pressure is mounting on Republican and Democratic negotiators in the US Capitol to reach an agreement on a COVID-19 response package that can pass both chambers of a divided Congress and be signed into law by President Donald Trump in the coming days. But evidence persists that the March 27 enactment of the massive CARES … Continue Reading
Talks among party leaders in Washington about a future COVID-19 relief package are at an impasse, with Democrats still adamant about enacting legislation that injects trillions of additional dollars into the American economy, and Republicans seemingly trying to run out the clock in hopes Democrats will consent to passing a “skinny” deal that temporarily addresses … Continue Reading
Bipartisan negotiations aimed at producing the next major federal COVID-19 response legislation – delayed by more than a week of infighting between congressional Republicans and the White House – are finally underway. The baseline for the talks: HEROES vs. HEALS, pitting the US$3.5 trillion HEROES Act passed by the US House of Representatives in May … Continue Reading
The enhanced unemployment benefits created by the March 27 CARES Act are set to expire in eight days. The US Congress will need more time than that to determine a path to passage of the next major bipartisan pandemic response legislation – assuming Republicans and Democrats in Washington are able to eventually reach agreement on … Continue Reading
The US Congress has returned to Washington, DC, and bipartisan negotiations to produce the next significant federal coronavirus response legislation have officially begun. Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows, representing President Donald Trump, are scheduled to meet this afternoon on Capitol Hill with House Speaker Nancy Pelosi (D-CA) and … Continue Reading
Coronavirus cases in the US are surging. States are closing bars and restaurants. States, local governments, schools and private enterprises are calling upon the federal government for aid, and the US Congress is preparing to craft bipartisan emergency legislation of US$1 trillion or more. It’s March 2020 all over again – only this time, legislators … Continue Reading
The House and Senate will not return to Washington until July 20, but discussions among the “four corners” in the US Congress are underway with the intent of crafting a bipartisan COVID-19 relief measure that can be signed into law by President Donald Trump by the end of July. House Speaker Nancy Pelosi (D-CA) and … Continue Reading
An extension of the CARES Act’s Paycheck Protection Program (PPP) authored by a Democratic member of the US Senate is on its way to President Donald Trump’s desk to be signed into law. The US House of Representatives has approved a US$1.5 trillion national infrastructure bill loaded with Democratic priorities for climate change, clean energy … Continue Reading
Senate Republican leaders have begun to lift the veil on their plans for the next coronavirus response package, acknowledging in a news conference Tuesday that they will support opening the coffers next month to provide another round of aid. The timetable set by Senate Majority Leader Mitch McConnell (R-KY) and other Senate GOP leaders means … Continue Reading
Congress is facing renewed pressure to provide hundreds of billions of dollars in “stimulus” money to states, territories, counties and municipalities and to allow such entities the option of using the money to offset revenue lost as a result of the COVID-19 pandemic. The Democratic-controlled US House of Representatives has begun floor consideration of a … Continue Reading
The COVID-19 pandemic has reclaimed headlines in America as new cases spike in states that some national health authorities say reopened their economies too swiftly. The US House of Representatives and US Senate are both in legislative session this week in advance of the Independence Day work period, but bipartisan talks to hammer out the … Continue Reading
With the House of Representatives and Senate deadlocked over competing versions of police reform legislation, a divided Washington has failed, at least for the moment, to heed the national call for action on racial injustices that emerged from the killing of citizen George Floyd. The division could portend failure ahead on other urgent matters of … Continue Reading
COVID-19 is making a comeback in America this summer, complicating President Donald Trump’s re-election campaign and governors’ plans to reopen their economies. A wave of new hospitalizations around the country is threatening to dampen hopes for a quick economic recovery in the wake of this spring’s pandemic-related lockdown, giving new urgency to discussions among federal … Continue Reading
The Trump Administration appears divided on the question of what President Donald Trump’s priorities will be for the next significant federal COVID-19 response package. The Washington Post reports the president supports providing another round of “stimulus” payments to a broad range of US households to support growth by putting money directly into the hands of … Continue Reading
Five weeks after passing the US$3 trillion HEROES Act, House Democrats are moving to pass a companion measure, the Moving Forward Act, that would add another US$1.5 trillion by funding an array of national infrastructure projects and related Democratic priorities. The bill is expected to be taken up on the House floor prior to Independence … Continue Reading
With summer officially underway in America and the number of new coronavirus cases in the US continuing to rise, President Donald Trump is doubling down on immigration restrictions imposed during the nation’s COVID-19 lockdown. Proponents of increased federal aid to states, territories and municipalities are gaining an important new ally as policymakers look ahead to … Continue Reading
America’s top monetary policy official, Federal Reserve Board Chairman Jerome Powell, is urging the US Congress to extend the enhanced unemployment benefits approved this spring that are set to expire at the end of July, intensifying a policy debate that will be pivotal to the negotiations next month that will determine the next phase in … Continue Reading
President Donald Trump and congressional Republicans are being pressured by anti-establishment organizations to provide no further federal spending in response to the coronavirus. But the president and his team appear poised to move in the opposite direction, having recently revealed plans to put forth a US$1 trillion national infrastructure spending blueprint in the coming days … Continue Reading
