This winter brings several key events with potentially significant impact on businesses operating in the United States. The first is the November elections, which sees candidates with strikingly dissimilar approaches to business regulation. The second is the December return of Congress for a “lame duck” session. During this session, Congress will consider how to address the pending “fiscal cliff”—a series of spending cuts and tax increases that include automatic increases in income, dividend and capital gains tax rates ($221 billion), the expiration of R&E tax credits and certain expensing of investment property ($80 billion), and across-the-board spending cuts in defense and domestic discretionary spending ($65 billion).
Some Republican and Democratic congressional leaders hope to avoid going over the fiscal cliff by passing a comprehensive budget deal that would reduce future entitlement spending and flatten tax rates in exchange for fewer corporate and individual deductions. The big question is which business tax breaks will be on the chopping block as “pay fors?” Trade and regulatory decisions could also be made during this time. All of these would have a major impact on companies in the financial, energy, manufacturing, telecommunications and other sectors of the US economy.
Please join former Indiana Congressman David McIntosh and former Chief Counsel to the Senate Judiciary Committee Carolyn Osolinik as they discuss “What’s At Stake for Business During the Elections?” Topics to be addressed include:
- How will the November elections affect business?
- What are the major business issues that could be decided in the lame duck session?
- What are hidden (or less known?) risks for business during this time?