Stay In the Know
Our team is here to make navigating government easier for you. Every month, the G2G staff compiles and synthesizes the big government news, and distills it into the high-level, hard-hitting information you need. These summaries make it easier to find and understand the policy changes and legislative updates that impact you and your goals.
November 8 is just weeks away and all the focus is on some key House and Senate races that will determine who controls the chambers in 2023. While most presume the House will flip to Republican control, the Senate is still a question mark. Before Congress recessed for the final stretch of the campaign cycle, it did pass a Continuing Resolution to keep the government running until December 14. It also passed the much-anticipated reauthorization of the SBIR program that funds grants for small business innovation, the FDA user fees reauthorization legislation, and what was considered a surprise bill called the Inflation Reduction Act that covered items ranging from climate change to drug pricing to tax policy. When they return on November 14, they will need to develop an omnibus appropriations bill as well as a compromise ARPA-H authorization bill, Cures 2.0, and the National Defense Authorization Act (NDAA), among others.
With the Senate returning right after Labor Day and the House returning a week later on September 13, Congress is gearing up for a frenzied three weeks of legislative activity before recessing for the month of October through election day on November 8. While there is lots to watch for, five items rise to the top of the list. See these and other quick highlights of what is happening within FY23 Appropriations, Health, Defense and Economic Development in this month’s report. We also share some upcoming events, such as our What’s Happening in Washington with the experts on September 7, our MHSRS Report following the September 12-15 conference on military bioscience innovation, and our Nonprofit Advocacy Planning Webinar on October 5.
The Senate just passed the Inflation Reduction Act on a party line vote on August 7, a bold measure to address climate change, corporate taxation, and health care. It is a $3.5 trillion budget reconciliation package that includes everything from electric vehicle tax credits to clean energy manufacturing to investments in environmental justice, a new 15% minimum tax on the income large corporations report to shareholders and a new 1% excise tax on companies’ stock buybacks, and extension of the enhanced federal premium subsidies for Obamacare and new Medicare power to negotiate prescription drug pricing. Also, the Senate released draft appropriations legislation for FY2023 on July 28, however, no Republicans were included in the process, so they are likely to change in the final negotiations with the House at the end of the year. See details in our report and please let me know any questions.