Expiring Provisions and Key Dates to Watch in 2021 and Beyond
Navigating the 2021 Political Landscape
Happy New Year! While the 117th Congress has now been sworn in, it remains unknown which party will control the Senate. Runoffs for both Georgia Senate seats will be held on January 5, pitting Sen. David Perdue against Democratic challenger Jon Ossoff and Sen. Kelly Loeffler against Reverend Raphael Warnock. Though both races are extremely close and turnout will be a determinant in whether Republicans or Democrats control the upper chamber, it is likely an uphill battle for the Democrats to win both seats.
Conventional wisdom is that divided government, and in particular, a divided Congress, can lead to gridlock. However, given how much was accomplished in the final days of the 116th Congress – including all 12 fiscal year 2021 (FY21) appropriations bills, the FY21 National Defense Authorization Act (NDAA), a bipartisan COVID relief package, tax extenders, the Water Resources Development Act (WRDA), a pipeline safety reauthorization, and compromise legislation to phase down hydrofluorocarbons (HFCs) – we are optimistic we may see significant legislative and administrative action next year. In fact, the first 100 days of the new Biden Administration could be incredibly busy with potential activity on another COVID/economic stimulus/infrastructure/climate bill, as well as a slew of executive orders and other regulatory initiatives spanning policy sectors.
Undoubtedly, the Biden Administration and the 117th Congress will inherit unprecedented challenges – the ongoing public health and economic crises created by the coronavirus pandemic, social unrest, and political division – amidst the already looming 2022 and 2024 campaign cycles. In addition to the need to respond to the most urgent policy matters, Congress must also confront a number of policy and spending measures that have already expired, are due to expire this year, or have expiration dates on the horizon.
To aid your planning for the year ahead, included below is a list of laws that have already expired, upcoming expiring provisions, longer-term expirations, political events, and other key dates.
Already Expired
Foreign Intelligence Surveillance Act (FISA) Provisions
Higher Education Act (HEA)
Violence Against Women Act (VAWA)
2021 Expiring Provisions
January 31: Extended Student Loan Forbearance Period Expires
January 31: Extension of Federal Evictions Moratorium Expires
March 14: Expanded Unemployment Insurance under the CARES Act Expires
March 31: Extension of Section 3610 of the CARES Act Expires
March 31: Paycheck Protection Program (PPP) Expires
March 31: CARES Act Airline Payroll Support Program Expires
June 30: Extension and Expansion of Employee Retention Tax Credit (ERTC) Expires
July 1: Debt Ceiling Suspension Expires
September 30: FY21 Appropriations Expire
September 30: FY21 National Defense Authorization Act (NDAA) Expires
September 30: Fixing America’s Surface Transportation (FAST) Act Expires
September 30: National Flood Insurance Program (NFIP) Expires
December 31: Coronavirus Relief Funds Provided to States and Localities Expire
December 31: Expiration of Tax Measures/Extenders
Alternative Fuels/Mixture Credit
Alternative Fuel Vehicle Refueling Property Credit
American Samoa Economic Development Tax Credit
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
Energy Efficient Homes Credit
Fuel Cell Motor Vehicles Credit
Health Coverage Tax Credit
Indian Business Property Depreciation
Indian Coal Credit
Indian Employment Credit
Mine Rescue Training Credit
Nonbusiness Energy Property Credit
Private Mortgage Insurance (PMI) Deduction
Racehorse Depreciation
Renewable Electricity Credit
Research and Development (R&D) Expensing
Second Generation Biofuels Credit
Two-Wheel Electric Plug-In Credit
Onshore Wind Energy Investment Tax Credit (ITC)
Onshore Wind Energy Production Tax Credit (PTC)
Other Important Dates in 2021
Beginning in January: Confirmation Hearings for Biden Administration Nominees
February: State of the Union (SOTU)
February/March: White House to Release Fiscal Year 2022 (FY22) Budget Request
February/March: Personal Office FY22 Appropriations Request Form Deadlines
February/March: Personal Office NDAA Request Form Deadlines
October 1: FY22 Begins
Key Political Dates
January 3: Swearing-In of the 117th Congress
January 5: Georgia Senate Runoff Elections (Sen. David Purdue (R-GA) vs. Jon Ossoff and Sen. Kelly Loeffler (R-GA) vs. Raphael Warnock)
January 20: Inauguration of President-Elect Joe Biden
Spring 2021: Special Elections for House Seats in Louisiana (Rep. Cedric Richmond’s (D-LA) seat and Rep.-Elect Luke Letlow’s (R-LA) seat), New Mexico (Rep. Deb Haaland’s (D-NM) seat), and Ohio (Rep. Marcia Fudge’s (D-OH) seat)
Longer-Term Expiration Dates
2022
Amortization of Research and Experimentation Costs
Highway Trust Fund Exhaustion
Interest Deduction Rules
Solar Energy ITC
WRDA
2023:
Farm Bill
Full Expensing Tax Phase-Out Begins (Continues until 2027)
Medicare Extenders
September 30, 2023: Extension of Funding Outreach and Assistance for Low-Income Programs (HR 3421)
September 30, 2023: Extension of Funding for Quality Measure Endorsement, Input, and Selection (HR 3430)
December 31, 2023: Extension of the Work Geographic Index Floor under the Medicare Program (HR 3302)
December 31, 2023: Extension of Medicare Patient IVIG Access Demonstration Project (based on HR 2905)
December 31, 2023: Extending the Independence at Home Medical Practice Demonstration Program under the Medicare program (HR 3644)
Medicare Hospital Insurance (Part A) Trust Fund Exhaustion
2024:
Moratorium on Payment under the Medicare Physician Fee Schedule of the Add on Code for Inherently Complex Evaluation and Management Visits
2025:
Controlled Foreign Corporations (CFC) Look-Through
Employer Paid Student Loan Income Exclusion
Empowerment Zones
Family Leave Credit
Film and Live Performances Expensing
Motorsports Depreciation
Multiemployer Pension Insurance Fund Exhaustion
New Markets Tax Credit (NMTC)
Offshore Wind Energy Production Tax Credit (PTC)
Oil Spill Liability Trust Fund
Principal Residence Cancellation of Debt (COD) at $750,000 (Reduced from $2 million)
Section 45Q Carbon Capture Tax Credit
Work Opportunity Tax Credit (WOTC)
2026:
Tax Cuts and Jobs Act (TCJA) Individual Income Tax Provisions
Export-Import (Ex-Im) Bank Authorization
2027: Multiemployer Pension Insurance Fund Exhaustion
2031: Combined Old-Age and Survivors Insurance (OASI) and Social Security Disability Insurance (SSDI) and Exhaustion