Congress Fiddles…

One day, sometime in the future, Congress will complete all their work on appropriation and tax measures before the August recess. But it won’t be this year (and it probably won’t be for many years).

On Thursday the Senate failed to consider a repeal of the estate tax. Republicans in the House tied a minimum wage increase and various extenders to this bill (including the Research and Development credit). Now the extenders may not happen, which is making the high tech lobby unhappy.

Personally, I expect Congress to pass a version of this legislation…in November, after the election. Neither side wants to give the other any political capital before the election. Yet many of the proposals are too important politically not to get passed.

In other words, business as usual in Washington.

News Story: Wall Street Journal (Pay Link)

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