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Inflation Reduction Act
President Trump Takes First Steps On Dodd-Frank Reform
Today, the Trump Administration took initial action toward Dodd-Frank reform. President Trump signed two Presidential actions—one Executive Order regarding the Dodd-Frank Act more broadly, and one Presidential Memorandum regarding the “Fiduciary Rule.” The first action is an Executive Order that...
The New Issue Price Regulations: The Good, the Bad and the Ugly
Late last year, the Treasury Department released final Treasury Regulations (the “New Regulations”) relating to the “issue price” of tax-exempt bonds, effective for bonds sold after June 7, 2017. Because the changes imposed by the New Regulations generally are more...
House Votes to Invalidate Extraction Payment Disclosure Rule
On February 1, 2017, the U.S. House of Representatives passed House Joint Resolution 41 to annul the Extraction Payment Disclosure Rule. The rule would require oil and gas companies to disclose in annual reports for fiscal years ending on or...
President Trump’s SCOTUS Nominee, Judge Neil Gorsuch, Suggests a Weakening of the Chevron Doctrine With Less Deference to Rulemaking Efforts from EPA, DOI and Other Federal Agencies
On January 31, President Donald Trump selected Judge Neil Gorsuch as his nomination for the United States Supreme Court seat left open by the death of Justice Antonin Scalia nearly a year ago. From an environmental law perspective, it is...
2017 Increase in HSR Notification Thresholds
The Federal Trade Commission (FTC) has announced the annual revisions to the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) thresholds, which will become effective on February 27, 2017. The revised thresholds will apply to any transaction closing on or after the...
President Trump Directs Federal Agencies to Solicit Input from the Manufacturing Sector on Streamlined Permitting and the Reduction of Regulatory Burdens
In his first week in office, President Trump has signed several Presidential Memoranda and Executive Orders aimed at encouraging domestic infrastructure development. Many of these executive actions direct federal agencies to adhere to a pair of central tenets, i.e., expedited...
In Line With Recent Precedent, Trump Administration Directs Federal Agencies to Halt New Regulations
As expected, one of President Trump’s first actions after being sworn in to office was to issue a memorandum outlining his administration’s plans for managing new or pending federal regulations. As shown in the Table below, the memorandum from President...
Final Regulations on MLP Qualifying Income Released and Published Despite Trump Moratorium
On January 19, 2017, the Department of the Treasury and the Internal Revenue Service (IRS) issued final regulations ( Final Regulations ) regarding qualifying income under Internal Revenue Code (Code) section 7704(d)(1)(E). The Final Regulations were published on January 24...
Webinar: Anatomy of an IPO: What Every Bank Thinking of Going Public Needs to Know
Get a jump start on a successful planning process for you IPO. The “Anatomy of an IPO” will guide you along the path of preparing for, and living through, an IPO, as well as navigating the sometimes treacherous waters of...
Management Contracts Safe Harbors Revisited – IRS Releases Updated Guidance (Again)
Demonstrating the “user-friendly” side of the IRS, on January 17, 2017, the IRS released Revenue Procedure 2017-13 (“Rev. Proc. 2017-13”) (available here ) to address many (but not all) of the comments received on the rather short-lived Revenue Procedure 2016-44...
Federal Court Sets Timeline for EPA to Reconsider Regulation of Oil and Gas Waste Under RCRA
In yet another example of the U.S. Environmental Protection Agency (EPA’s) “sue and settle” approach to regulation, in late December 2016, EPA entered into a Consent Decree with an environmental group and agreed to reconsider the Agency’s current treatment of...
PHMSA Proposes Plans to Revise Volatility Standard for the Transport of Crude Oil
Today, PHMSA released an advanced notice of proposed rulemaking (ANPRM), announcing that it is considering revising the Hazardous Materials Regulations (HMR) to establish vapor pressure limits for the transportation of crude oil and potentially all Class 3 flammable liquid hazardous...
Process Safety Culture and Environmental Management Systems
The presentation provided guidance on developing a corporate culture attuned to process safety and on continuing to assess and adjust over time. It also discussed the legal issues that can arise from adopting an environmental management system, particularly with regard to how...
Risk Management Program (RMP) Update: EPA Adopts Final Amendments to the RMP Rule
Partners Whit Swift and Matt Paulson will discuss the amendments to the RMP rule at 40 CFR Part 68 that EPA finalized on December 21, 2016. The talk will cover the changes to the RMP program that EPA adopted and...