December Issue: U.S. Politics–Dawn of a New Age?
- Nov 24, 2014
The outcome of the midterm election will create the most Republican Congress since 1929, with the GOP gaining at least eight seats in the Senate and another 13 in the House. With just a few weeks left in the lame-duck session, there is a short-term focus by CRE leaders and Congress to hit a compromise on the Terrorism Risk Insurance Act and get it on President Obama’s desk. Come the new year, there will be no shortage of general policies for Congress to work on.
According to a number of commercial real estate leaders, a GOP majority in both chambers and a presidential election in 2016 are cause for optimism that smart legislation on energy, the tax code and infrastructure will make its way to law over the next two years.
“The Republicans really want to show that they can govern,” said Tom Bisacquino, president & CEO of NAIOP. “They understand that they just can’t sit and continue that gridlock that we have had over the past two—or arguably the past six—years.”