Only hours
after the polls closed on Election Day, law firms on Wednesday were readying
their clients for the next two years in Washington.
Through advisories and events, firms gave their clients the lay of the land under a second term for President Barack Obama and a Congress in which the Democrats maintain control of the Senate and the Republicans keep their hold on the House of Representatives. Although a shift in power hasn't occurred, clients can't let their guard down, said former Representative Billy Tauzin (R-La.), a special legislative counsel at Alston & Bird.
"It doesn't matter that we still have divided government. It doesn't matter that we have a status quo, some changes election," Tauzin said at a panel discussion at the D.C. office of Alston & Bird. "What really matters is that we all have to be in gear to make sure that these decisions come out right, not only for our country, but for the deep concerns that our clients have and we have with some very special interests."
Among the big issues on the radars of law firms are health care and taxes.As Congress looks to secure a budget deal to avoid the looming "fiscal cliff," tax increases and health care cuts will come into play, firm attorneys said. And work will begin in the "lame duck" Congress this year.
"I think there's a lot to be done and you're going to probably see things begin to move in Washington," said former Senator Blanche Lincoln (D-Ark.), a senior policy adviser at Alston.
According to Tauzin, business at his firm will be good because of the new Congress.?"We're about to enter the rainy season," he said.
In the National Law Journal photo by Diego M. Radzinschi, Billy Tauzin discusses how the election will impact the clients of Alston & Bird. Tauzin is joined by Blanche Lincoln and Earl Pomeroy.
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