Fall Congressional Outlook

Contributing sentiments towards policy:

64% : Former Ambassador to the United Nations and South Carolina Governor Nikki Haley launched her campaign in February 2023, and since then the Republican primary field has continued to grow.
59% : Outside of China, the administration is expected to focus on concluding the Indo-Pacific Economic Framework negotiations at APEC, potential deals with the European Union (EU) on a Global Arrangement on Sustainable Steel and Aluminum (GSSA) and critical minerals, and enforcement actions under the U.S.-Canada-Mexico Agreement (USMCA).
54% : In the below fall congressional outlook, members of Akin's lobbying & public policy practice provide a comprehensive look at this fall's congressional agenda, including policy areas such as Aerospace & Defense, Agriculture, Appropriations, Energy, Financial Services, Health & Life Sciences, Tax, Technology, Trade and the 2024 elections.
52% : Tax: The prospect of an end-of-year tax package continues to hinge on whether Democrats and Republicans can agree to some extension of the child tax credit despite bipartisan support for extending other provisions like expensing for research and engineering.
49% : Congress continues to struggle to reauthorize expired programs that temporarily reduce or eliminate tariffs on goods no longer made in the United States or from developing countries, but an effort to reform the de minimis exception allowing duty free imports could breathe new life into nascent conversations at the committee level on a year-end package.
48% : Expired provisions include policies from the Tax Cuts and Jobs Act (TCJA) (full expensing for research expenses, bonus depreciation (went from 100% to 80% at the end of 2022) and interest expense limitations (going from 30% of earnings before interest, taxes, depreciation and amortization (EBITDA) to earnings before interest and taxes (EBIT)); the expanded Child Tax Credit enacted by the American Rescue Plan; and traditional tax extenders such as race horse depreciation, the low-income housing credit floor and the railroad track maintenance credit, among others.
47% : The House may be able to advance bipartisan bills related to regulation of cryptocurrency this fall while the House Financial Services Committee will continue to focus on SEC oversight.
43% : Also under consideration is an emergency supplemental bill for disaster relief, Ukraine aid and border security funding.
34% : And with the SEC facing significant pushback in the courts on its aggressive efforts at 'regulation by enforcement,' the hand of those arguing for a new statutory framework has been strengthened.
23% : In addition, the Biden administration has submitted to Congress a supplemental spending request (approximately $40 billion) for disaster relief, Ukraine aid and border security funding.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.