Visions - Winter/Spring 2010 - 12

(continued)
With Washington’s political landscape in a state of flux, disagreement between the parties over priority issues, and sizable percentages of the public holding skeptical views of both parties, it is difficult to outline what might pass out of Congress this year.

Although President Obama has begun to try to appeal to voters who see the nation’s capital as broken by stressing his commitment to bipartisanship and refocusing his rhetoric on the economy and job creation, to the distress of many Democrats, the administration continues to pursue first-year priorities, such as healthcare. In fact, by inviting Republican congressional leaders to a “summit” on healthcare, the White House continues to reach out for GOP support in what the Washington office views as a futile effort to achieve the necessary 60 votes to pass this legislation. While we also remain extremely pessimistic that legislation addressing climate change will be able to pass Congress this term, it does appear that some legislators have gotten the message that jobs creating legislation should be priority one. The president called for a jobs bill in his January 27 State of the Union address, and no less that three bills are currently circulating in Congress. What Business Might Expect in 2010 With Washington’s political landscape in a state of flux, disagreement between the parties over priority issues, and sizable percentages of the public holding skeptical views of both parties, it is difficult to outline what might pass out of Congress this year. Our best guess on the major issues of the day with a direct impact on business is as follows: • Economy: A jobs bill will pass Congress in 2010. It is likely to include infrastructure investment, aid to state and local governments, tax cuts for middle income workers, and a tax cut for certain businesses that hire workers. • Trade: While President Obama has said that he wants to

secure approval of pending free trade agreements and to engage in the Trans-Pacific Partnership, the administration has yet to lay out a roadmap on these subjects. Blocked by trade skeptics, action on all of these agreements will slide until 2011. • Labor: Although the House could seemingly pass the Employee Free Choice Act (“card-check”), prospects for Senate approval remain unlikely, particularly as several centrist Democrats continue to express opposition. However, Labor is certain to make one last push for passage this year. • Climate Change: The political reality remains that the closer it gets to the 2010 elections, the less likely climate change legislation will pass.While the House has passed an energy and climate change bill, bipartisan negotiations continue in the Senate. Unless Senate Democrats are willing to pursue a more limited energy bill, action on comprehensive legislation is likely to stall. • Economy: The political reality remains that the closer it gets to the 2010 elections, the less likely climate change legislation will pass.While the House has passed an energy and climate change bill, bipartisan negotiations continue in the Senate. Unless Senate Democrats are willing to pursue a more limited energy bill, action on comprehensive legislation is likely to stall. Conclusion Because record snowfalls in Washington have delayed legislative business from shifting into full gear, it remains to be seen whether a Democratic-led Congress has learned the lesson that seems to ring loud and clear from the result of the Massachusetts’ special election and the list of the public’s priorities.
For more information, please contact James Winslow, Director, Gover nmental Affairs, at james.winslow@sumitomocorp.com.

12

v i s i o n s

W i n t e r | S p r i n g

2 0 1 0

Sumitomo

Corporation

of

Americ a
Visions - Winter/Spring 2010

Table of Contents for the Digital Edition of Visions - Winter/Spring 2010
