You don't have to be a political junkie to have found the historic election events very interesting. Major changes are happening and I wanted to share some things to watch for in the aftermath of Tuesday's election. It is timely, clear and insightful. Here are some quick bullets:
- The names they are "a-changing". Get to know these names:
- House: John Boehner (R-OH), Eric Cantor (R-VA), Kevin McCarthy (R-CA) and Pete Sessions (R-TX)
- Whitehouse: Pete Rouse, CoS; Austan Goolsbee and four draft picks to be named later for the economic team.
- And in the no-change category, Harry Reid. You've got to give him props for beating all odds and maneuvering like a master.
- The lame-duck session begins the week after next and the 111th Congress has some thorny issues to cover
- Wide ranging alternatives, $4T or $700B price tags on extending the Bush tax cuts
- If not extended by 12/31, employers and employees will start feeling it in withholding changes on January 1
- There is great intrigue in the compromise options
- Tax reform will be a major agenda item in the 112th and Sen. Wyden (D-OR) has a key bi-partisan proposal on the table
- Budget deficits, currently projected at near $1T per year for the rest of the next decade will become the touchstone of the 112th Congress
- Oh and then there is that Healthcare Law that Boehner says will not be funded. And remember Dodd-Frank, regulation run amuck.
And we'll have Fun, Fun, Fun till her Daddy takes the T-Bird away!
Have a great Firday and a great weekend!
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