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Venable's 'Election Watch Group' Assesses Presidential Election's Impact on Multiple Industries
Date:11/4/2008

e than 18 years and spent the month of October campaigning for Barack Obama in Indiana. He believes the election's key question is whether the Democrats, who are poised to pick up an historic number of seats in Congress, will secure a majority that can consistently deliver the 60 votes needed to defeat a filibuster in the Senate. "If the Democrats hold 60 seats in the Senate, it will be a good news/bad news proposition," he said. "The good news is that they will be able to push through legislation, the bad news is if they fail to do that, they will have no one to blame but themselves."

Former U.S. Secretary of Transportation James Burnley notes that the Highway Trust Fund is now in the red, leading to a looming infrastructure crisis on the nation's roads.

"Because Americans have started driving less and buying more fuel-efficient cars, the Highway Trust Fund, which is supported by fuel taxes, is in crisis," Burnley said. "Congress solved the immediate problems in September by transferring $8 billion in general revenues into the trust fund. But there is a long term, systemic revenue crisis for which there is no obvious politically viable solution. Senator Obama has endorsed a $60 billion National Infrastructure Bank, but this cannot close the revenue shortfall to fund the existing commitments, much less support a bigger set of highway and transit programs."

For full list of election watch policy projections visit:

http://www.venable.com/press_releases.cfm?action=view&press_release_id= 382

Note: One of the American Lawyer's top 100 law firms, Venable LLP has attorneys practicing in all areas of corporate and business law, complex litigation, intellectual property and government affairs. Venable serves corporate, institutional, governmental, nonprofit and individual clients throughout the U.S. and around the world from its headquarters
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