Situational Awareness
The Senate is in session this week and will consider a continuing resolution (CR) to fund the federal government beyond the February 18 deadline from the previous CR. The House has no scheduled votes this week and will be conducting committee business.
Funding Deadline Approaching
NCA last week filed comments with the Occupational Safety and Health Administration (OSHA) in response to an The federal government is facing a government funding deadline of February 18 before it will shut down. The House passed a continuing resolution (CR) last week that will fund the government until March 11, while House and Senate appropriators are negotiating a package that will fund the government through the remainder of fiscal year 2022, which ends on September 30. The CR passed the house with a bipartisan vote of 272-16. Although the CR is generally a perfunctory measure, it is complicated this time due to comments from Senator Marsha Blackburn (R-Tenn.) over reports of a program that would have provided funds that facilitate the use of narcotics. Leaders expect the issue can be resolved. House and Senate appropriators have reached a deal in principle to fund the government for the rest of the fiscal year, but need additional time to work out details.
Inflation at Top of Voter Concerns
Inflation remains at the top of the list of concerns of voters in the U.S. after it was announced last week that the consumer price index (CPI) increased 7.5% year over year, the highest it’s been in 40 years. Not only is inflation eroding the spending power of consumers, but it is eroding support for President Biden with just 18% of Americans confident Biden can handle the economy according to a recent CNN Poll. Inflation has hit every corner of the consumer economy with used car prices increasing 40% and bacon up 18%. Republicans have seized on the issue ahead of the mid-term elections and aired an ad during the Super Bowl to highlight the issue.
Eyes on Ukraine This Week
The Biden Administration has warned for weeks that Russian troops are prepared to move into Ukraine imminently and in recent days, suggested intelligence reports point to an invasion this week. President Biden held talks with Russian President Vladimir Putin and warned that an attach on Ukraine would lead to severe sanctions. Some U.S. allies, such as the United Kingdom and France, are not convinced an invasion is imminent. For his part, Ukrainian President Volodymyr Zelensky has expressed skepticism about an invasion and warned such speculation leads to panic in his country and is not helpful. Russia confirmed reports over the weekend that they are recalling their diplomatic corps from Kyiv. Tensions over Ukraine have colored the backdrop of policy making in Washington in recent weeks and should there be military action it will quickly become the focus in policy making circles. On Friday, U.S. National Security Advisor Jake Sullivan urged all Americans in Ukraine to make arrangements to leave the country as soon as possible.
Congress’ ASCOTUS Appointment Intrigue
U.S. Supreme Court Justice Stephen Breyer’s announcement that he intends to retire at the end of this year’s term kicked off speculation about who President Biden will nominate to fill the seat on the Court. During the campaign, Biden pledged to nominate a Black woman to the Court should a vacancy become available and he seems poised to make good on his promise. The president’s advisors have been combing through potential nominees since Breyer’s announcement and speculation in Washington is that White House interviews will be conducted with potential nominees this week. Senate Democrats are readying for confirmation of a nominee likely sometime this summer.
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Register for Thursday’s Club Philanthropy Webcast
On Thursday, February 17, at 2:00 p.m. ET., NCA will host an important webcast about an emerging industry trend: club foundations. This will be the first in a series of webcasts by club tax experts Kevin Reilly and Larry Absheer on the topic, discussing how to navigate club foundations, their advantages, pitfalls clubs should avoid, tax implications and much more. NCA members can register for free here.
You can read their entire Club Director series on the topic, “Clubs in Philanthropy,” here.