After failing to pass a TRIA reauthorization during the lame duck session last Congress, on January 7, 2015, the House passed H.R. 26, the Terrorism Risk Insurance Program Reauthorization Act of 2015, by a vote of 416-5. Shortly after on January 8, 2015, the Senate passed H.R. 26 by a 93-4 vote. Upon the President’s signature, TRIA will be reauthorized until December 31, 2020.
Twenty years ago, two years after the first inauguration of President Clinton, Republicans took control of both houses of Congress for the first time since 1953. Despite significant disagreements between Clinton and the Republican-controlled Congress, that period of 1995 through 2000 was a relatively productive one for the U.S. Congress, producing welfare reform, several tax bills, a balanced budget agreement, significant telecommunications legislation, and many other laws.
The U.S. House and Senate have released their legislative calendars for the first session of the 114th Congress. Hogan Lovells Legislation and Political Law Compliance practice is happy to provide you with this congressional calendar for your 2015 planning purposes. This schedule may change at any time at the direction of House and Senate leadership.
Must Pass Legislation on Cue this Week: Congress begins this week working on the must-pass continuing resolution (H J Res 124) to fund the government through mid-December. Congress will then delay fiscal 2015 funding into the lame-duck session when they return after the November elections. The House Rules Committee is expected to meet Monday evening
In a consultation published yesterday, the Cabinet Office is seeking views on draft regulations relating to the statutory register of lobbyists that was introduced by the recently enacted Transparency of Lobbying, Non-Party Campaigning and Trade Union Administration Act 2014 (the “Lobbying Act“). Although the draft regulations are substantially concerned with the detailed administration of the
Since 1 April 2013, new rules introduced by the Welfare Reform Act 2012 in a bid to reduce growth in welfare spending mean that most social housing tenants judged to have too much living space have had their housing benefit cut. The policy is referred to by the Government as the “under-occupation deduction” or the
Congress Returns After August Recess Break: Congress returns for a short period until they break again for another recess to campaign for the November mid-term elections. They are expected to return to their districts September 19th. Priorities remaining on the congressional agenda include the future of Export-Import Bank and avoiding a government shutdown after September 3o. Congress will most likely pass a
Congress Scheduled to Adjourn for Summer Recess at the End of the Week: Congress has a busy agenda this week as they plan to start the Summer Congressional Recess later this week. The agenda includes possibly considering supplemental spending dealing with the border crisis, finalizing a patch for the Highway Trust Fund, and a possible
Today the Supreme Court, in McCutcheon v. FEC, issued a ruling striking down the aggregate limits on individual campaign contributions under the Federal Election Campaign Act. By a 5-4 decision, the court found the restrictions to be a violation of First Amendment rights. Prior to today’s decision, individuals could contribute up to US$48,600.00 to all
The last two weeks have seen significant developments in building the blocks for what could eventually form the base of U.S. tax reform. Most significant is the 979-page “Tax Reform Act of 2014” discussion draft from House Ways and Means Chairman Dave Camp (R-MI) — a sweeping, comprehensive reform package that would reduce U.S. corporate
Between 22 and 25 May 2014, the European Parliament (“EP”) will enter its eighth parliamentary term with the election of 751 new Members of the European Parliament (“MEPs”). Several sources have emphasised that the elections will not impact the on-going legislative procedures in relation to a number of proposals that are unlikely to have been
Sen. Lisa Murkowski (R-AK), Ranking Republican on the Senate Energy and Natural Resources Committee, last week released another of her “Energy 20/20” white papers entitled, “A Signal to the World: Renovating the Architecture of U.S. Energy Exports.” The paper reviews current federal energy export policies on everything from crude oil to nuclear power and comes at
A congressional conference committee on the U.S. federal budget on Tuesday released a two-year budget conference agreement, avoiding a looming government shutdown in January and passing a comprehensive budget for the first time in several years. The U.S. House of Representatives overwhelmingly approved the measure on Thursday night on a 332-94 vote; the Senate is
The U.S. House and Senate have released their legislative calenders for the second session of the 113th Congress. Hogan Lovells Legislation and Political Law Compliance practice is happy to provide you with this schedule for your 2014 planning purposes. This schedule may change at any time at the direction of House and Senate leadership. Calendar
A bill designed to crack down on patent assertion entities, sometimes called “patent trolls,” easily passed the U.S. House of Representatives yesterday. Sponsored by House Judiciary Committee Chairman Robert Goodlatte (R-VA), the Innovation Act targets oft-criticized patent assertion entities for conduct like sending large numbers of demand letters to small businesses without determining if they are
Last week saw important developments related to U.S. tax reform, with Senate Finance Committee Chairman Max Baucus issuing tax reform drafts proposing significant changes in several key areas of tax law. These proposals break new ground in the U.S. tax reform effort as they suggest dramatic changes in cost recovery (depreciation) and accounting, as well as
On October 16, after weeks of stalemate and false starts, the U.S. Senate and House both passed legislation, signed by President Obama, to increase the U.S. debt-ceiling and continue to fund U.S. Government operations through January 15, 2014. Though efforts had been made over the past two weeks — in both houses and by both
For the energy regulatory agencies, the effects of the shutdown have been mixed to date, but they will become more pronounced if the impasse lasts much longer.
The tax reform effort in the U.S. Congress has accelerated this month, with Senate Finance Committee Chairman Max Baucus and Ranking Member Orrin Hatch together issuing a Dear Colleague letter to fellow Senators, asking for their help in crafting a tax reform bill. The letter announced the committee leaders’ intention to mark-up a tax reform
On June 27, 2013, the Senate passed a comprehensive immigration reform bill to overhaul the U.S. immigration system and extend legal status to millions of undocumented immigrants, expand legal immigration, and increase border security.
Secretary of State for Justice, Chris Grayling, has today announced a package of judicial review reforms targeting “weak, frivolous and unmeritorious cases, which congest the courts and cause delays.” Most of the proposals that were set out in the consultation on the reform of Judicial Review (the “Consultation“) are to be implemented, despite the majority
The Senate Energy and Natural Resources Committee has announced it will hold a series of roundtable forums on natural gas issues in May. Each of the three forums, which follow a February Committee hearing on natural gas challenges and opportunities, will focus on specific policy issues facing the country’s growing natural gas resources.
The European Commission is completing a Consultation on the need for additional regulation of unconventional fossil fuel (e.g., shale gas) exploration and development in Europe. The Consultation period ends on 23 March 2013 and results will be made available on the Commission’s website and at a stakeholders’ meeting to be held by the Commission in
House Ways and Means Committee Chairman Dave Camp (R-Mich.) has proposed to tax derivatives on an annual mark-to-market basis with ordinary gain or loss treatment. This far-reaching proposal is the centerpiece of a series of tax changes for financial products set forth in a discussion draft released on January 24 as part of Chairman Camp’s