With a recent Supreme Court retirement announcement, global affairs issues, and voting rights legislation, both Congress and the administration have much on their plate as we enter February 2022. With such a crowded agenda, the BBBA seems to have faded of late. Nonetheless, the bill has what appear to be three possible paths ahead.
First, the bill could get new life and be taken up in its current form, or close to it, in the Senate. Given the opposition to some of the bill’s policy provisions, recent comments from a Senator about the bill’s being “dead,” and its price tag--even after the bill was reduced by nearly half over the past several months--it seems unlikely that it would pass the Senate in a form close to what it was in December.
Second, the bill could simply die on the vine. Having entered 2022, and with midterm elections on the calendar in November, it may be too difficult to revive any part of the bill this year.
Finally, the bill could be split up into separate pieces of legislation. While some provisions in the current bill do not have adequate support to ensure passage in the Senate, some provisions likely do. For example, climate issues, energy provisions, and tax matters could be taken up in separate bills or included in other legislative packages, such as the fiscal year 2022 spending bill. If legislative priorities are addressed this way, we may see these provisions revived or even enacted into law throughout the year.
One thing is certain: No matter how powerful a crystal ball one can find it cannot predict what is going to happen in an unpredictable legislative year. As events develop, we will follow them and provide our insights along the way.
Copyright © 2022 BDO USA, LLP. All rights reserved. www.bdo.com