With a split Congress and razor-thin majorities in both House and Senate, Washington continues to be a hotbed of dysfunction. Both Democrats and Republicans are eagerly anticipating the election in less than six months, and neither party wants to give the other an advantage that could be used on the campaign trail. Yet Congress did manage to come together this spring to pass key federal spending bills—a reminder that, even in divisive times, bipartisan majorities can find their way to success.

October in Washington was certainly one for the history books. In the waning hours of September 30, Congress crafted a last-minute deal to fund government operations for six weeks, averting a government shutdown that would have begun on October 1. And that's when the chaos really started.

This report is current as of August 9, 2023

Congress is on its annual August recess, but a major confrontation between the two parties is looming—and it could lead to a disruptive government shutdown this fall. Meanwhile, the SEC has begun finalizing a series of high-profile rule proposals that could have an enormous impact on investors and advisors alike. Let's take a look at what RIAs should be watching closely as we head into the fall season.

This report is current as of May 16, 2023

As spring bloomed in Washington, Congress began one of its busiest stretches of the year. Between the Easter recess and the break in early July, the Senate will be in session 9 of 10 weeks and the House, 8 of 10. This period will be dominated by jockeying over the debt ceiling, the Washington issue that will have the most direct impact on the markets and investors.

This report is current as of March 17, 2023

The 118th Congress convened in January with razor-thin majorities in both houses. Democrats hold a 51-49 majority in the Senate, while Republicans have a 222-213 advantage in the House of Representatives. The sharp divide between the two chambers means few major legislative accomplishments are expected in the current biennium.

In one of its final acts of 2022, Congress approved a massive year-end spending bill that includes the long-anticipated retirement savings package known as SECURE Act 2.0.  

The provisions of the new retirement package are included in the 4,155-page bill that will fund every federal agency and government program through September 30, 2023. The bill was cleared by the House on December 23, one day after the Senate voted for it. President Biden signed the bill into law on December 29.

With the midterm elections in the rearview mirror, Congress returned to Washington for a busy lame-duck session to resolve some key issues. Meanwhile, regulators continued their breakneck pace, unveiling a daunting set of rule proposals that would create additional compliance burdens for advisor firms. Here's a roundup of what advisors need to know.

This report is current as of August 12, 2022

Congress continues to struggle with bitter partisan divisions that will likely only worsen as we head toward this fall's midterm elections. But rare moments of bipartisanship have cropped up in recent weeks.