What to Expect After the Midterm Elections
The results of the forthcoming midterm elections will directly impact Washington's agenda for the remainder of President Obama's term.
If the Democratic Party is able to retain control of the Senate, we are likely to see the current gridlock in Congress continue to manifest itself for the next two years. While the Republican Party is unlikely to lose control of the House of Representatives, if they are able to wrestle Senate control away from the Democrats we will see an important shift in Congress' priorities.
A Republican controlled Congress can be expected to pursue changes to the Dodd-Frank Act, pass legislation calling for approval of the Keystone Pipeline project, propose changes and even call for an outright repeal of Obamacare, and seek spending cuts across a broad range of programs.
If the Democrats are able to maintain control of the Senate, we are likely to see a continuation of the last Senate's priorities. Minimum wage, immigration reform, tax inversions, and equal pay legislation are likely to remain at the top of the agenda.
If the Republicans take control of both chambers we will likely see President Obama be forced to wield the almighty veto pen. Regardless of any changes to the composition of the Senate, we are also likely to see President Obama seek to advance his priorities through executive action. Immigration, gun control, and climate change are likely areas for action.
Elections can have important implications on laws and regulations governing your business. Please contact us if you have any questions or concerns regarding how the forthcoming elections may affect your business operations.
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