Congressional Calendar Impacts Legislative Progress
The time remaining in the 2nd session of the 113th Congress is perhaps the biggest challenge facing lawmakers this mid-term election year. Congress will be in session for only the last few days of July before it adjourns in August. Upon its return after Labor Day, Congress will work a short schedule in September before adjourning for the November elections.
This abbreviated calendar presents a major obstacle to moving any legislation through the legislative process which includes House and Senate committee consideration, floor action in the respective bodies and submission for presidential signature or veto. Any legislation that does not pass before the end of this session early next year must be reintroduced in the next Congress.
Legislation involving the budget and appropriations is expected to take precedent prior to the elections. Following the elections, during the “lame duck” session, the NTRA anticipates progress on legislation related to key expired or reduced tax provisions including three-year depreciation for racehorses, a $500,000 expense allowance and 50 percent bonus depreciation. The team is focused on securing a favorable outcome for the Thoroughbred breeding and racing industry and will provide relevant updates in this space.blog comments powered by Disqus