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An omnibus bill will not only include government-wide spending through September 30, 2016, but a whole host of other legislative priorities such as transportation and infrastructure spending, toxic chemicals reform, the reauthorization of the Export-Import Bank, and other less controversial and well-known legislative measures. 

Surface Transportation Board. The Senate bill is ready for floor time.  However, there is no House companion.  Senator Thune may try to amend an omnibus package with the Surface Transportation Board reauthorization legislation that would increase the number of board members and increase the size and authorities of the public assistance office to help rail customers.  However, if the House refuses to accept this provision, the bill might be removed from a final bill sent to the President.  The bill would remain alive for the remainder of 2016 for consideration.

Increased Truck Weights. This legislation has been inserted into the House version of the highway transportation bill.  The change in the legislation would allow states to make the choice of whether or not to license these heavier trucks (96,000 lbs. with a sixth axle) rather than provide additional pilot projects on federal and state roads to willing states and authorize the use of these trucks on all federal highways.  While safety groups oppose this legislation, they feel they have a better chance at convincing Governors to oppose this weight increase at the state level.

Ports Improvements. After this year’s West Coast ports disruption, legislation has been introduced in the Senate to avoid another such episode at any of the nation’s ports.  Some of the provisions would require statistical recordkeeping and enable states, rather than the federal government, to intervene if a shutdown or strike occurs.  There is no House companion.  Therefore, it would need to be included in a Senate version of an omnibus.

Export-Import Bank. The Ex-Im Bank charter expired at the end of June and therefore no new loan guarantees have been issued causing many businesses to either cancel orders or threaten to move factories out of the United States.  Boeing and General Electric, two of the largest recipients of Ex-Im Bank loan guarantees have already announced moves to manufacturing operations to other countries.  These companies and the NAM coalition have ratcheted up pressure on Congress to approve this reauthorization.  It is widely assumed the reauthorization will be included in an end-of-the-year omnibus package. 

Tax Extenders. The annual renewal of many tax allowances that are important to businesses are once again in limbo.  It is widely expected that these tax provisions will be included in an omnibus bill to allow deductions for 2015.  There are efforts to examine the tax extenders to renew some for several years to avoid these uncertainties and eliminate many others.  A larger tax reform bill, which is highly unlikely this Congress with a presidential election underway, will address these issues along with other tax issues.  The carried-forward tax allowance that provides for certain income to be treated as a capital gain with a lower tax rate is in the mix this year but it is not likely it will gain final passage.