Congress is back in session today. But don’t expect more than is necessary as this legislative work period is expected to be relatively short due to upcoming elections. A number in Congress are in tight races back home and want to get back to insure their political futures. The House of Representatives has set a target adjournment date of October 8, while Senate leaders have yet to set an official target.
A top priority on Capitol Hill is the finalization of appropriations for the federal government's fiscal year which concludes September 30. In the Senate, bills floating to the top include: a long-pending bill to incentivize small business growth, including consideration of amendments that would remedy a massive tax reporting problem included in this year's health care reform bill. Also, it is believed the Senate will take up a 30-billion dollar tax-break extenders bill, which may or may not include an extension of ethanol production incentives.