Federal Legislative Update

The U.S. House and Senate are in recess until after the November elections.  They are scheduled to return on the week of November 15^th and then, after adjourning for Thanksgiving week, they will reconvene in the first week of December.  According to the Texas Office of State-Federal Relations, in this post-election session, significant legislation will be considered, including:

·         The 2011 budget, possibly in the form of an omnibus bill.

·         Extension of some or all of the Bush tax cuts.

·         Extension of expiring tax deductions, including the deduction for state and local sales taxes, and the R&D tax credit.

·         Action on the unemployment insurance extension (the current extension runs through November 30).

·         Legislation addressing food safety and incentive for alternative fuel vehicles.

·         A defense authorization bill.

·         An extension of the “Doc Fix” for Medicare reimbursement (the current extension runs through November 30).