Tax Equity and Fiscal Responsibility Act of 1982

Congress needs to pass 12 funding bills in 11 days to avert a shutdown – here’s why that isn’t likely

Retrieved on: 
Tuesday, September 5, 2023

Congress has just 11 days when it’s in session before the next federal fiscal year begins on Oct. 1, 2023.

Key Points: 
  • Congress has just 11 days when it’s in session before the next federal fiscal year begins on Oct. 1, 2023.
  • And in that time, it will need to enact all 12 appropriation bills to ensure that government agencies and departments have funding to keep programs going – or face a potential government shutdown.
  • This is due to the magnitude of the differences not only between the two parties but also between the House and Senate.

One down, many to go

    • But just before the House broke for August recess, it passed one appropriation bill, for military construction.
    • The problem is the military construction bill is traditionally the easiest to pass, as it is very small – this year it stood at US$19.1 billion in spending.
    • This is substantially less than the largest bill, which is usually the Labor, Health, Human Services and Education bill.

Ideological impasse

    • These will be vehemently opposed by Democrats and potentially create an impasse in negotiations.
    • Another complicating factor is that, recently, the administration submitted to Congress a request for a $45 billion supplemental appropriation that includes $24 billion for the war in Ukraine.
    • In the past, these measures would often be attached to either an individual appropriation bill or what is known as a continuing resolution.
    • While, constitutionally, appropriation bills must start in the House, they have to be reconciled with whatever version the Senate passes.

A history of shutdowns

    • This approach has been endorsed by the White House to give time to negotiate a permanent solution.
    • But the Freedom Caucus has indicated it will oppose such a measure unless it can attach many of its ideological riders.
    • Since the 1974 Budget Act, there have been 22 such gaps or shutdowns due to the inability of Congress to enact all the appropriation bills.
    • This shutdown lasted 35 days – the longest in history.

A record shutdown?

    • Politically, the Republicans received virtually nothing beneficial from the 1995 or 2018 shutdowns, and were in fact blamed for both.
    • Similarly, Republicans received little in 2013 but also seemed to receive less blame.
    • Congress has just 11 working days to pass these bills, and that seems virtually impossible, especially in the current political climate.
    • I even wouldn’t rule out a much longer shutdown of a couple of months that exceeds the record 35 days during the Trump administration.

Latest Long-Term Budget Outlook from the Congressional Budget Office Demonstrates Cracks in America's Fiscal Foundation

Retrieved on: 
Thursday, June 29, 2023

"We are heading into uncharted territory and ignoring our long-term structural fiscal and economic problems will not make them go away.

Key Points: 
  • "We are heading into uncharted territory and ignoring our long-term structural fiscal and economic problems will not make them go away.
  • An agenda premised on ever-rising debt is not a solid foundation for a sustainable budget or a growing economy," said Robert L. Bixby, executive director of The Concord Coalition.
  • "Budget negotiations, including the Fiscal Responsibility Act of 2023, tend to focus on limiting the growth of discretionary spending enacted through the annual appropriations process.
  • For more fiscal news and analysis, visit concordcoalition.org and follow us on Facebook @ConcordCoalition and on Twitter: @ConcordC
    View original content to download multimedia: https://www.prnewswire.com/news-releases/latest-long-term-budget-outlook...

EverGlade Consulting Funding Alert: Effect of Fiscal Responsibility Act on Project Next Gen BARDA Funding

Retrieved on: 
Monday, June 5, 2023

CHARLESTON, S.C., June 5, 2023 /PRNewswire/ -- The Fiscal Responsibility Act of 2023 aims to reduce USG spending by $2.1 trillion, with an additional $1.5 trillion in mandated savings over the next two years. The bill reclaims $28 billion of unutilized COVID-19 funds and cuts an additional $400 million from the CDC's "Global Health Fund," which channels taxpayer funds to China. Collectively, these cuts represent the largest rollback of federal spending in American history.

Key Points: 
  • In a bit of good news for contractors, BARDA and ASPR funding, specifically Project Next Gen and the newly formed IBx team remain largely intact.
  • Funding for Project Next Generation Vaccines & Therapeutics remains largely intact and is expected to continue with its anticipated obligations.
  • "Given the success of Project Warp Speed, it is no surprise that Project Next Gen received bipartisan support in this negotiation," stated EverGlade Consulting Founder, Eric Jia-Sobota.
  • EverGlade Consulting is a national consulting firm helping clients navigate the federal landscape.

Mountain Valley Pipeline To Proceed

Retrieved on: 
Saturday, June 3, 2023

On June 3, 2023, the President of the United States signed legislation that raises the Nation's debt limit and ratifies and approves all permits and authorizations necessary for the construction and initial operation of the Mountain Valley Pipeline (MVP) and directs the applicable federal officials and agencies to maintain such authorizations.

Key Points: 
  • On June 3, 2023, the President of the United States signed legislation that raises the Nation's debt limit and ratifies and approves all permits and authorizations necessary for the construction and initial operation of the Mountain Valley Pipeline (MVP) and directs the applicable federal officials and agencies to maintain such authorizations.
  • Further, and not later than June 24, 2023, the legislation requires the Secretary of the Army to issue all permits or verifications necessary to complete project construction and allow for MVP's operation and maintenance.
  • The legislation also divests courts of jurisdiction to review agency actions on approvals necessary for MVP construction and initial operation.
  • With the enactment of the Fiscal Responsibility Act of 2023, Mountain Valley will continue to work closely with all relevant agencies in reissuing the project’s few outstanding permits and will maintain its steadfast commitment to environmental protection to ensure the responsible completion of the project's remaining construction.

TEAMSTERS URGE PASSAGE OF THE FISCAL RESPONSIBILITY ACT OF 2023

Retrieved on: 
Wednesday, May 31, 2023

WASHINGTON, May 31, 2023 /PRNewswire/ -- The following is a statement from Teamsters General President Sean M. O'Brien regarding the vote in the U.S. House of Representatives on the Fiscal Responsibility Act of 2023:

Key Points: 
  • We urge Congress to swiftly pass this legislation.
  • "The Fiscal Responsibility Act preserves and creates jobs through important changes to energy construction permitting as well as approval of the Mountain Valley Pipeline, which are long-held Teamster priorities.
  • Founded in 1903, the International Brotherhood of Teamsters represents 1.2 million hardworking people in the U.S., Canada, and Puerto Rico.
  • Follow us on Twitter @Teamsters and "like" us on Facebook at Facebook.com/teamsters.

Intersect Power Reaches Commercial Operation of 310 MWp Athos III Solar + Storage Project in California

Retrieved on: 
Wednesday, January 11, 2023

OAKLAND, Calif., Jan. 11, 2023 /PRNewswire/ -- Intersect Power, LLC, ("Intersect Power" or "Intersect"), announced the commercial operation of its Athos III solar project located in Riverside County, California, on December 22, 2022.

Key Points: 
  • OAKLAND, Calif., Jan. 11, 2023 /PRNewswire/ -- Intersect Power, LLC, ("Intersect Power" or "Intersect"), announced the commercial operation of its Athos III solar project located in Riverside County, California, on December 22, 2022.
  • The Athos III solar project (also known as Blythe Mesa Solar II) generates 224 MWac/310 MWp of reliable solar energy, enough to power approximately 94,000 homes, and features 448 MWh of co-located storage.
  • "Today marks a major milestone for the Intersect Power team and our impact as a clean energy developer, owner and operator," said Intersect Power CEO Sheldon Kimber.
  • The Athos III solar project is part of Intersect Power's near-term portfolio totaling 2.2 GW of solar PV and 1.4 GWh of co-located storage.

Greenberg Traurig's G. Michelle Ferreira to Speak at 2022 New England IRS Representation Conference

Retrieved on: 
Thursday, November 17, 2022

SAN FRANCISCO, Nov. 17, 2022 /PRNewswire-PRWeb/ -- G. Michelle Ferreira, co-managing shareholder of the San Francisco and Silicon Valley offices of global law firm Greenberg Traurig, LLP, will speak at the 2022 New England IRS Representation Conference taking place Nov. 17 – 18.

Key Points: 
  • G. Michelle Ferreira, co-managing shareholder of the San Francisco and Silicon Valley offices of global law firm Greenberg Traurig, LLP, will speak at the 2022 New England IRS Representation Conference taking place Nov. 17 18.
  • SAN FRANCISCO, Nov. 17, 2022 /PRNewswire-PRWeb/ -- G. Michelle Ferreira , co-managing shareholder of the San Francisco and Silicon Valley offices of global law firm Greenberg Traurig, LLP, will speak at the 2022 New England IRS Representation Conference taking place Nov. 17 18.
  • Ferreira will participate in a panel titled " IRS Update " Nov. 18 at 8:35 a.m. EST, discussing what to expect from the Internal Revenue Service (IRS) this coming year.
  • As a former tax litigator for the IRS, Ferreira brings unique experience to clients who have complex and sensitive tax and penalty disputes.

ENGIE NORTH AMERICA COMPLETES $800m FINANCING FOR RECENTLY COMMISSIONED 665 MW OF RENEWABLE PROJECTS

Retrieved on: 
Thursday, March 31, 2022

HOUSTON, March 31, 2022 /PRNewswire/ -- ENGIE North America ("ENGIE") announced it has successfully completed Tax-Equity financing for its Iron Star and Priddy wind projects and Equity financing for the portfolio of these assets plus the Hawtree solar project which recently declared commercial operations. Together they total approximately 665 MW.

Key Points: 
  • The two wind projects located in Ford County, Kansas and Mills County, Texas, respectively, are owned by affiliates of ENGIE.
  • The projects are part of the more than 4 GW portfolio of renewable energy assets currently managed by the company across North America.
  • Based in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a global leader in low-carbon energy and services.
  • For more information on ENGIE North America, please visit our LinkedIn page or Twitter feed, https://www.engie-na.com/ and https://www.engie.com .