Carried Interest –

Posted on 15. May 2010 by Jim Sutliff

Five Senators are attempting to have venture capital managers exempt from a tax increase that would effect carried interest.  Carried interest has been treated as long term capital gains which is a significantly lower tax rate.  The Senators cited the positive job creation effects that VC firms have on an economy.  Four of the Senators are Democrats and that should help because they are the majority party.

 To read a related Bloomberg article, please click here:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aU2.pOjZsvy4&pos=7

Jim Sutliff

Posted in Administrative, Business, Regulatory, Tax | Leave a comment

Federal Reserve Maintains Oversight –

Posted on 13. May 2010 by Jim Sutliff

The Federal Reserve held onto political independence and banking oversight responsibilities in two separate amendment votes.  According to Bloomberg, one vote was 90-9 to void an amendment to strip some of the Federal Reserve’s oversight responsibilites. 

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aIusyCkbg8XA&pos=5

James Sutliff

Posted in Administrative, Business, Regulatory | Leave a comment

Insurance Tax Break –

Posted on 13. May 2010 by Jim Sutliff

Bloomberg reports that parents who add children under 26 to their employer provided health insurance can get get a tax break.  It is reported that the regulations allow for a deduction for the cost of insurance if the premium is not paid with money set aside with pretax cash.

To read the Bloomberg article, please click here:

http://www.bloomberg.com/apps/news?pid=20603037&sid=aEHEYMbESX_I

Jim Sutliff

Posted in Administrative, Regulatory, Tax | Leave a comment

Senate Approves Audit –

Posted on 11. May 2010 by Jim Sutliff

The Senate voted 96-0 and approved an amendment to the Financial Reform bill that provides for a one time audit of the emergency lending by the Federal Reserve.  The measure was submitted by Senator Sanders and allows for an audit of every emergency action by the Federal Reserve after December 2007.

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/apps/news?pid=20601068&sid=ahYm8noAZ59M

James Sutliff

Posted in Administrative, Business, Politics, Regulatory | Leave a comment

Financial Regs & Market Plunge –

Posted on 10. May 2010 by Jim Sutliff

Senate Democrat Christopher Dodd is one of the major supporters of the Finacial Reform legislation.  He is also one of the Senators pointing to the stock market drop as an example of the need for the legislation.  There have been reports that computer trading may be partially responsible for the market drop late last week.

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/apps/news?pid=20601070&sid=aWOXo3D8bQUI

Jim Sutliff

Posted in Administrative, Business, Dodd-Frank, Regulatory | Leave a comment

Senator Bennett Loses Nomination Bid –

Posted on 9. May 2010 by Jim Sutliff

Senator Bob Bennett of Utah failed in an attempt to secure the Republican nomination for his U.S. Senate seat.  According to an Associated Press article, Utah prohibits running as an independent and Bennett has not ruled out a write-in candidacy. 

To read a related Washington Post article, please click here:

http://www.washingtonpost.com/wp-dyn/content/article/2010/05/08/AR2010050803430.html

James Sutliff

Posted in Election, Politics | Leave a comment

Climate Bill Next Week –

Posted on 7. May 2010 by Jim Sutliff

The climate bill is expected to be unveiled next week by Senators Kerry and Lieberman.  Republican Senator Graham is not expected to support the bill and he has been the lone Republican working on the measure.  Without some support from the republican side of the aisle it is not likely that a climate bill will be passed in this session.

To read a Congressional Quarterly article, please click here:

http://www.cqpolitics.com/wmspage.cfm?docID=cqmidday-000003658566

Jim Sutliff

Posted in Administrative, Environment, Regulatory | Leave a comment

Stocks Plunge –

Posted on 7. May 2010 by Jim Sutliff

Stocks plunged almost as much as 1,000 points before making a rebound late in the day.  The late rally still left the market down more than 300 points for the trading day.  European debt concerns are the major factor in the recent declines for the market.

To read a related Associated Press article, please click here:

http://finance.yahoo.com/news/Stocks-extend-plunge-on-apf-892184148.html?x=0

James Sutliff

Posted in Business | Leave a comment

Obey Retires –

Posted on 5. May 2010 by Jim Sutliff

After serving 21 terms, David Obey has decided to retire from Congress.  Obey is chairman of the House Appropriations Committee and his retirement is viewed as a victory for Republicans.  The Democrat stated that it was his time to go.  Republican District Attorney Sean Duffy is the leading candidate in the GOP primary.

To read an Associated Press article, please click here:

http://news.yahoo.com/s/ap/20100505/ap_on_bi_ge/us_congress_obey_retirement

Jim Sutliff

Posted in Election, Politics | Leave a comment

Washington Power Brokers –

Posted on 2. May 2010 by Jim Sutliff

Washington’s Power Brokers is an article that appears on the Forbes website.  A good political article is a frequent visitor of the Business In The Beltway section of the Forbes site.  The influence list includes players in the fields of healthcare, business, energy, and banking.

To read the Forbes article, please click here:

http://www.forbes.com/2010/04/27/exxon-boeing-seiu-business-washington-power-brokers.html?boxes=Homepagelighttop

James Sutliff

Posted in Business, Energy, Healthcare, Politics | Leave a comment

Billionaire Dem Enters Race –

Posted on 30. April 2010 by Jim Sutliff

Billionaire Democrat Jeff Greene announced that he is seeking the Democratic nomination for the U.S. Senate seat in Florida.  Greene makes the race a toss-up now that Crist is running as an independent candiate.  The entry of Greene into the Senate race may deter Crist from continuing his bid for the seat.

To read a CBS News article, please click here:

http://www.cbsnews.com/8301-503544_162-20003875-503544.html

Jim Sutliff

Posted in Election, Politics | Leave a comment

Financial Bill Moves Forward –

Posted on 29. April 2010 by Jim Sutliff

The Senate voted by unanimous consent to move the Financial measure forward and to the debate floor.  The third attempt to move the measure failed earlier in the day by a 56-42 vote.  The final bill could be voted on as earlier as the end of next week.  Financial reform is sure to be a major issue this election cycle.

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aMVYUHLswJo4&pos=8

James Sutliff

Posted in Administrative, Business, Election, Politics, Regulatory | Leave a comment

Here We Go Again –

Posted on 28. April 2010 by Jim Sutliff

Democratic Senator Harry Reid called for a secong vote to move the Financial Reform bill forward in the Senate.  The measure fell short again today by the same 3 votes as yesterday.  More votes on the measure are expected this week as the Democrats hope to portray Republicans as obstructionists and pro Wall Street.  Republican Senators are still negotiating provisions of the bill in hopes of a bipartisan agreement.

To read a related MarketWatch article, please click here:

http://www.marketwatch.com/story/gop-block-effort-to-move-forward-on-bank-reform-2010-04-27

Jim Sutliff

Posted in Administrative, Business, Election, Politics, Regulatory | Leave a comment

Senate Blocks Financial Bill –

Posted on 27. April 2010 by Jim Sutliff

The Senate blocked a measure to move the Financial Reform bill forward by a vote of 57-41.  The measure needed 60 votes to pass and came up shy by three votes.  Republican efforts to continue negotiations were successful but a bill is still likely to be passed before Memorial Day.

To read a USA Today article, please click here:

http://content.usatoday.com/communities/onpolitics/post/2010/04/senate-blocks-financial-regulation-bill-on-party-lines/1

James Sutliff

Posted in Administrative, Business, Dodd-Frank, Election, Politics, Regulatory | Leave a comment

Health Law Penalty

Posted on 24. April 2010 by Jim Sutliff

The Washington Times reports that 3 million Americans may be required to pay a penalty because of the new healthcare law.  Other sources indicate that the number is actually higher than 3 million.  The Congressional Budget office analysis estimates that the average penalty will be more than $1,000 by 2016.

To read the Washington Times article, please click here:

http://www.washingtontimes.com/news/2010/apr/23/3-million-in-middle-class-to-pay-health-care-penal/

James Sutliff

Posted in Administrative, Election, Healthcare, Politics, Regulatory, Tax | Leave a comment