On March 15, 2022, Attorney General Merrick B. Garland sent a memorandum to the heads of federal departments and agencies concerning Freedom of Information Act (“FOIA”) issues. In the memorandum, he urged departments and agencies to employ a “presumption of openness” in responding to FOIA requests.
The Biden Administration Read
A virtual discussion on the regulatory aspects of the EO, its potential policy outcomes, and practical impacts on affected businesses. On July 9, 2021, President Joe Biden issued a far-reaching executive order (EO) on Promoting Competition in the American Economy that establishes a “whole-of-government effort” aimed at reducing corporate consolidation. The EO calls for federal agencies to undertake 72 separate initiatives across a range of industry sectors, including financial services, technology, transportation and communication services.
On April 14, 2021, the Internal Revenue Service released proposed rules for allowing non-US persons with US-taxable capital gains to invest in qualified opportunity funds (QOFs) without first suffering US withholding on such gains. Mark Leeds and Stephanie Wood, tax lawyers with the New York office of Mayer Brown, analyze these developments in the attached Legal Update.
On March 29, 2021, the Biden administration announced a “set of bold actions that will catalyze offshore wind energy, strengthen the domestic supply chain, and create good-paying, union jobs,” with a target to deploy 30 GW of offshore wind by 2030 to support 77,000 jobs, power 10 million homes and cut 78 million metric tons in carbon emissions.