This should be a very busy and interesting week (couple of weeks) in Congress as both sides meet with President Obama tomorrow to hash through concerns including trying to resolve how both parties want to handle the George W. Bush expiring tax cuts of 2001 and 2003.
Congress also has a Friday deadline to pass a temporary spending bill to avoid a government shutdown. One idea is to fund the government at current levels through February to allow the next Congress to deal with the issue.
Congress is also facing other deadlines such as another Alternative Minimum Tax fix by year’s end and extension of unemployment benefits to name a few other areas.
With respect to the R&D credit which expired 12/31/09, this may be taken up in conjunction with discussions around the Bush tax cuts, but we will post any additional updates here as they become available.