On Feb. 17, 2009, President Obama signed The American Recovery and Reinvestment Act. The Act was intended by Congress to address the dire effects of the collapse of credit markets, and the threatened loss of American jobs. Yet the statement of congressional purpose in the Act, and the enormous sums appropriated by this legislation, also suggest that this event was the beginning of the reshaping of the American economy. While Congress spoke of its purpose to "preserve and create jobs," the Act also directed that federal "investments" be made to spur technological advances in science and health, and to advance transportation, environmental protection, and other infrastructure.
To address the uncertainties, and opportunities, created by massive investment and parallel changes in regulation, Reed Smith has called upon its strong practices in energy, public policy, regulatory enforcement, tax and finance, and others throughout the firm, to provide current and in-depth guidance to its clients. In creating a Recovery & Infrastructure Task Force, Reed Smith concentrates its legal experience and skills to advise clients at each phase of the stimulus process, including: the outlay of billions of dollars in a broad variety of infrastructure programs for agriculture, energy, education, environmental protection, transportation and many others; taking advantage of the competitive award processes for grants, loan guarantees, and contracts; the complexities of new and enhanced tax credits; federal rulemakings, with the potential to influence program direction; the procurement of contracts under federal awards; regulatory compliance with all applicable "cross-cutting" requirements; and all other elements of the stimulus programs. The Recovery & Infrastructure Task Force is dedicated to quickly reacting to federal stimulus programs, avoiding their uncertainties, and advancing the interests of firm clients by coordinating its representation among applicable disciplines.
The team offers a depth of experience to help clients who are seeking benefits under the stimulus bill. The following practice areas are tailored to meet the firm's commitment to providing unique and integrated legal services to its clients in dealing with the Recovery Act, as well as subsequent funding and other legislation:
- Energy
- Health Care
- Higher Education
- Construction
- Public Policy & Infrastructure
- Environmental Compliance
- Tax
- Transportation
- Government Contracts & Grants
- Telecommunications
- Benefits & Executive Compensation
For additional information on the Reed Smith Recovery & Infrastructure Task Force, please contact its co-leaders, Christopher L. Rissetto at +1 202 414 9206, or Henry R. King at +1 609 514 5941, or any other member of the Recovery & Infrastructure Task Force.