Now What?

In January2011, the US House of Representatives will change to republican control. Between now and then, there is going to be a tremendous focus on what will happen in the “Lame Duck” session of congress.


We can hope that some of the items (AMT Patch and tax extenders) that were not addressed before the election will be dealt with. I’m concerned that there isn’t going to be much of an appetite on the part of the departing congresspersons to deal with this. Here is an article from Dean Zerbe (Alliant Group/Forbes.com) where he gives his thoughts and what might happen.

Going forward, I’m concerned that the administration will stand in the way of getting any meaningful extension of the “Bush” tax cuts and that we may be in for a realization of the largest tax hike in history. The administration hasn’t shown a willingness to compromise in many (any?) areas and has already indicated that they will be likely to make liberal use of the veto.