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On Monday, Aug. 9, 2021, the Senate Budget Committee released its budget resolution for fiscal year 2022. The bill will serve as the foundation for the broad, sweeping spending bill that Democrats and President Biden hope to pass this fall. The bill aims to fulfill many of the promises made by the administration related to

On Wednesday, July 14, 2021 Senators Chuck Schumer (D-NY), Cory Booker (D-NJ), and Ron Wyden (D-OR) released draft legislation titled the Cannabis Administration and Opportunity Act. Today, adult use of cannabis, which is classified as a Schedule 1 controlled substance under the Controlled Substances Act (CSA), is legal in 18 states, and the medical use

On June 8, 2021 the administration released a report detailing its findings from a 100-day review of vulnerabilities within the supply chains of four critical products:

  • semiconductors;
  • large capacity batteries;
  • critical minerals and materials; and
  • pharmaceuticals

The report is in response to President Biden’s Feb. 24, 2021 executive order calling for an assessment of the

American Jobs Plan

On Wednesday, March 31, 2021, the Biden Administration released their American Jobs Plan, which constitutes the first of two sections of a larger infrastructure package. This section contains roughly $2.5 trillion in federal spending over eight years, with the majority of that coming in one-time investments.

Takeaways

  • $621 billion for surface transportation

Earmarks are making a return to Congress. House Democrats have announced their intention to bring back earmarks after a moratorium lasting a decade. Removing the moratorium will give more power to individual lawmakers, especially Congressional members on the appropriations committees and the committees drafting the new infrastructure bill. It also provides stakeholders an opportunity to

Later this week, the U.S. House of Representatives will introduce and likely vote on the COVID-19 relief bill supported by President Biden. As the vote nears, however, the Byrd rule will be key in determining which provisions, such as raising the minimum wage to $15, will survive the congressional process.

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Summary

On December 21, 2020, Congress released and passed its long-awaited coronavirus relief package, which was part of a nearly 5,600 page 2021 government appropriations bill. The $900 billion COVID-19 stimulus is the result of weeks of intense bipartisan negotiations. Congress voted to approve the bill on Monday night, and President Trump is expected to

On March 25, 2020, the Senate passed a $2 trillion economic stimulus bill, the Coronavirus Aid Relief and Economic Security Act (CARES Act). The House is expected to pass the bill on Friday.

Visit the McGuireWoods Consulting website for a full summary of the major business provisions in the bill, including:

  • Direct Financial Support
  • Tax