Insights: Clients

Housing (Supply, GSE Exit/MBS Policy, Closing Costs)

Housing is gaining increased attention among policy makers, with Treasury Secretary Bessent suggesting earlier this week that the administration could declare a “housing emergency.” His comment is consistent with prior administration calls for regulatory reforms aimed at increasing housing supply and reducing mortgage costs. Congress is also...

Healthcare Extenders/Reforms (MA, Site Neutral, PBMs, Extenders)

Outside of the ACA eAPTCs, lawmakers are also intensifying their work around other unresolved healthcare issues – including, for example, Medicare/Medicaid extenders, pharmacy benefit manager (PBM) reforms, Medicare Advantage (MA) upcoding reforms, and Medicare fee-for-service (FFS) site neutral payment reforms.

Affordable Care Act (Enhanced Subsidies)

With Congress returning from August recess, lawmaker focus on the end-of-year expiration of the ACA enhanced subsidies (eAPTCs) is intensifying.

IEEPA Litigation

In a 7-4 decision, the Court of Appeals for the Federal Circuit upheld a decision from the U.S. Court of International Trade (CIT) blocking President Trump’s imposition of tariffs under the International Emergency Economic Powers Act (IEEPA). The decision (involving two cases, V.O.S. Selections v. U.S. and Oregon v. U.S.). The Federal Circuit...

As we’ve previously noted, there is some interest among Republicans in passing another reconciliation bill or two (i.e., tax/mandatory spending (entitlements) bill that can be passed on a partisan basis). They have two procedural opportunities to do so in the coming year - under the FY26 and FY27 budget resolutions.

FY26 Appropriations

Congress is in the midst of passing appropriations legislation to sustain government funding (i.e., grants/loans/programs, not entitlements) beyond its current expiration at the end of FY25 on 9/30. House Republicans are pursuing a partisan approach to cutting non-defense spending levels (by ~6% on average) and flat for defense, while the Senate...