Washington’s To-Do List for 2015

While President Barack Obama and Republican leaders in Congress disagree on a lot of things, they have a few overlapping ambitions for 2015, including the business tax code and securing trade deals. But emboldened right and left wings and looming 2016 elections could overwhelm any effort toward bipartisan deals.

President Obama has called for overhauling the business tax code to lower rates but eliminate many deductions. He also wants to resume “fast-track” approval for trade deals. The President has a number of other priorities, such as raising the minimum wage and overhauling immigration rules, but neither has much chance in a GOP-controlled Congress. Similarly, Republicans are expected to push for large changes to Medicare and a repeal of the Affordable Care Act, which President Obama has said he would block. But even a targeted focus on trade and business-tax changes could lead to disappointment in 2015.