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General Updates
Government Funding: With Congress unable to reach a consensus on appropriations bills for fiscal year 2023, lawmakers must reach a deal on a continuing resolution (CR) this month to avoid a government shutdown on Oct. 1. The House of Representatives is currently discussing a proposal to extend the fiscal year 2022 government spending levels for 12 more weeks until Dec. 16. Both chambers are expected to take up this short-term solution next week at the earliest.
However, congressional requests for additional supplemental funding may complicate the process. While Republicans have expressed strong support only for a barebones extension of government funding at current rates, several policy proposals have been raised that may require consideration in any final deal. At the forefront of the conversation is a request by Sen. Joe Manchin (D-WV) to include energy permitting reform legislation in any potential budget deal. The permitting reform language is part of a side deal Senate Majority Leader Chuck Schumer (D-NY) made with Sen. Manchin in order to secure Manchin’s support for the Inflation Reduction Act, the reconciliation bill Democrats passed prior to the August recess. The reform measure would overhaul how the federal government approves fossil fuel and clean energy projects. Progressives in the House and Senate have warned that they will not support any government funding bill that includes language to expedite fossil fuel production.
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Further complicating the CR process, the Biden administration is seeking an additional $50 billion for several miscellaneous initiatives and policy objectives. Of this total request, $22.5 billion is dedicated to additional COVID-19 funding for vaccines and other emergency equipment. Republicans are unlikely to support the proposal, likely arguing that any additional funding for pandemic relief should be taken from already authorized, unspent COVID funds. The White House is also requesting nearly $14 billion in additional aid for Ukraine, more than half of which would be dedicated to direct military assistance. In the past, Republican leadership has been accepting of emergency relief for Ukraine and may support a slimmed-down version of those requests. Biden has also asked for a series of more limited additional emergency support for various items including funding for monkeypox vaccines, natural disaster relief, non-Russian-sourced uranium, modernization efforts for the Strategic Petroleum Reserve and livestock/crop insurance.
Early indications suggest that there may be bipartisan support in the Senate for a stopgap proposal to fund the government until Dec. 16. It is currently unclear which supplemental proposals will receive serious consideration in the bill.
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Upcoming Events
- September 22-23: Family Business Legacy & Wealth Conference, Chicago, IL
- September 27: University Business Center, Fresno, CA
- October 12: Institute for Family Owned Business, ME
- October 13: HTI, Rosemont, IL
- October 14-16: Chattanooga Motor Festival, TN
- October 19-21: Opal Family Office & Private Wealth Forum West, Napa Valley, CA
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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…
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As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a supporter.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill.
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About Policy and Taxation Group
Policy and Taxation Group is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.
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Have questions or would like more information about becoming a Supporter or donating? Please contact John Marino at [email protected].
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