Time Running Short on Busy Congressional Agenda

With just 11 days left on the legislative schedule in December, the U.S. Congress is facing a busy agenda. Lawmakers must address funding for the FAA and other government agencies; a comprehensive highway bill that includes renewal of the Export-Import Bank; and extension of an array of tax breaks such as bonus depreciation. 

Both chambers first face a December 4 deadline to renew highway programs. Both the House and Senate have passed their highway bills and have been in a conference to hash out their differences. With time running short last month, Congress passed a two-week extension of highway reauthorization while the conference finished negotiations. The extension is set to expire on Friday. Both the Senate and House versions have measures to reauthorize Ex-Im. Also, the House version includes a measure seeking a study on a fuel-fraud measure that requires certain aviation jet fuel to be taxed at the highway rate until proven it is used for aviation purposes.

Congress also has a December 11 deadline to pass a funding bill for most government agencies. Lawmakers took a step toward reaching agreement in October with passage of a multi-year budget deal, but debates over numerous items threaten to hold up a full-year fiscal 2016 appropriations.

Meanwhile, nearly 50 tax breaks are set to expire at the end of the year. Another “tax extenders” bill has been in the works, but House lawmakers have been harboring hope for making some tax breaks permanent, such as the research and development tax.