Focus on 'hot' issues.

• Position: FEI ON THE HILL - Financial Executives International - Conference notes

Back in August--when members of Congress were in their home districts interacting with constituents during their annual recess--FEI staff used the month to ramp-up an educational effort centered on senior staff of the members on issues ranging from the U.S. taxation of foreign-source income to pension funding relief to financial regulatory reform efforts. The meetings provided FEI with insight into what efforts are underway during the last few months on the legislative calendar and what issues will remain important in 2010.

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The meetings were strategic in nature and focused on senior staff working for members with posts on the House Ways and Means Committee and Senate Finance Committee. With as many questions as answers remaining on what tack Congress will take on reforming the health-care system, a few issues are clear:

* According to Capitol Hill staff, there does not seem to be an effort underway to tax foreign-source income or to repeal the Last-in, First-out (LIFO) accounting method to pay for health-care reform legislation;

* Many congressional offices, particularly on the House side, are starting to gear up to tackle financial regulatory reform legislation that will affect the regulation of over-the-counter (OTC) derivatives and credit rating...