On October 16th, 16 days after the government shut down and on the eve of the a potential default, Congress was able to pass a deal developed by Senate leaders to reopen the government and raise the debt ceiling. The final tally had Senate passage occurring on an 81 to 18 vote early in the evening, and then the House voting afterwards, where it passed on a 285 to 144 vote. The resolution of this self-inflicted crisis, may lead some to invoke the famous words of Gerald Ford, while others wonder what happens when we reach the next bump in the road in the middle of the Q1 next year. The deal came after House Speaker John Boehner (R-OH), agreed to take up a plan put together by Majority Leader Harry Reid (D-NV) and Minority Leader Mitch McConnell (R-KY). The Reid-McConnell plan funds the government at $986 billion through a continuing resolution (CR) that lasts until January 15th, and that extended the debt ceiling through February 7th. In addition, … [Read more...] about Financial Services Legislative and Regulatory Law Update – October 21, 2013
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Financial Services Legislative and Regulatory Update – May 13, 2013
Leading the Past WeekWhat had been a relatively quiet week, where until Friday it seemed like the biggest news was that Treasury Secretary Jack Lew was working on his penmanship, was upended by revelations at the end of the week that the IRS had been targeting certain conservative groups for extra scrutiny. This news and the attendant congressional backlash are sure to dominate the next week. Outside of this growing scandal, the week was interesting in that the House and the Senate both passed legislation that may face difficulty becoming law. First, on Monday, the Senate passed legislation to change how taxes are collected on internet based retail, while on Thursday the House passed a bill to prioritize payments of principal and interest on debt should the U.S. reach its borrowing limit. Interestingly, the question of when the debt ceiling will be reached, and when it will become an issue appeared to come into better focus, as better than … [Read more...] about Financial Services Legislative and Regulatory Update – May 13, 2013
Government Could Breach Debt Ceiling in September, Mnuchin Warns
Sections SEARCH Skip to content Skip to site index Politics Subscribe Log In Log In Today’s Paper Politics | Government Could Breach Debt Ceiling in September, Mnuchin Warns Advertisement Supported by ByEmily Cochrane July 12, 2019 WASHINGTON — Treasury Secretary Steven Mnuchin informed congressional leaders on Friday that the government could run out of money in early September, pleading with lawmakers to reach a deal to raise the government’s borrowing limit before their August recess or risk a potentially catastrophic default. Mr. Mnuchin, in a letter to leadership, said that while “it is impossible to identify precisely” how long the Treasury’s resources can last, updated predictions indicated that “there is a scenario in which we run out of cash in early September, before Congress reconvenes.” “As such,” Mr. Mnuchin wrote, “I request that … [Read more...] about Government Could Breach Debt Ceiling in September, Mnuchin Warns
Deputy Legal Manager Vacancy at Energy Efficiency Services Limited
Energy Efficiency Services Limited has invited applications from the eligible candidates for the post of Dy. Legal Manager.No of Post: 01Upper Age Limit (as on 01/08/2015): 37yearsPay Scale: Rs 29100 – 54500Minimum Qualification: LLB/Bachelor of Law (Full time)Experience: 4 years of post – qualification experience in legal matters related to commercial law, contracts etc. Job Description Manage various legal aspects of Projects undertaken by EESL. Prepare/Review the drafts of Project documents (Concession agreements, EPC contract, D &M contracts & debt financing agreements) to achieve the desired risk allocation position for EESL. Security mechanism for EESL Projects. Support for negotiation, execution & closing of all Project documents. Coordinate with external agencies on legal aspects of due diligence, bid preparation & project financing. Work with Project teams to ensure timely compliance with all conditions precedent & other contractual … [Read more...] about Deputy Legal Manager Vacancy at Energy Efficiency Services Limited
Financial Services Legislative and Regulatory Update – December 16, 2013
Before leaving for the Christmas recess the House of Representatives passed the Bipartisan Budget Act of 2013 by an overwhelming bipartisan vote of 332 to 94. With the Senate expected to follow suit early next week, it will mean that for the first time since 1997, Congress will have voted to approve a budget bill. This achievement, which required some pain from both sides, is offered up by some as akin to the baby steps necessary to help repair a broken relationship, and potentially helping to bridge a path towards tax reform. However, these perspectives may be too optimistic, especially with a calendar next year that quickly tees up votes on an omnibus appropriations bill to keep the government open, and to increase the debt ceiling, both of which have the distinct ability to suck the life out of whatever reconciliation was achieved through the budget process. Outside of Congress, the other major story from this past week … [Read more...] about Financial Services Legislative and Regulatory Update – December 16, 2013