As the final votes are counted and the last few races are being decided, many in Washington have turned their attention to the final session for the 111th Congress. Set to resume this week, Congress still has far-reaching legislation to deal with before handing over the gavel.

From the Bush-era tax cuts to unemployment benefits to campaign finance reform, all of these legislative issues may come to the floor over the coming weeks. While it's almost a certainty that members of Congress will deal with the expiring tax cuts, other items still require attention, including unemployment benefits and more. What can actually get accomplished remains unclear.

Most certainly on the docket, legislators in Washington will address extending the Bush-era tax cuts. While both sides of the aisle are in agreement that some of the cuts should be extended, there's still disagreement about whether all should receive the extension. Republicans, toeing the party line, have time and again claimed that now is not the time to raise taxes on any group, including the wealthy. On the other side, Democrats largely believe in extending the tax cuts for all groups except the top earners.

To that end, Politico reports that Democrats, following the election results, might look to change their strategy on the matter, pushing the cut-off line between the middle-class and wealthy up from $250,000 per household to closer to $500,000. While many would argue that a household making $500,000 doesn't qualify as middle class, Democrats hope that, by changing the dividing line, they will get the opportunity to paint their opponents into a corner with the public, suggesting that the change "simplifies the contrast message, by making it clear what Republicans are fighting for: a tax cut that is literally for millionaires." Critics of the plan say that increasing taxes on any group in the current economic climate will do its part to hamper economic growth.

Looking for Leverage

With other issues on the table and a coming power swap in the House of Representatives, there's no doubt the Democrats will be looking to leverage their majority position to push this and other legislation through. Many in Washington believe that to achieve their goals, the Democrats will need to bargain with the GOP.

Specifically, should the current majority want to ensure passage of a bill extending unemployment benefits, some in Washington have suggested that the Democrats may have to barter a full tax-cut extension. Since unemployment benefits are set to expire November 30, congressional failure to act soon during the lame-duck session will leave potentially two million unemployed Americans without this supplemental income, which averages out to $310 a person per week.

Calling for this extension, President Obama is quoted in The Hill as saying, "I think it makes sense for us to extend unemployment insurance because there are still a lot of folks out there hurting."

Republicans, meanwhile, are likely to point to the bill's potential cost as too expensive to vote for, especially after winning the House at the end of a campaign season that focused on deficit reduction and bringing down federal spending. Some conservative economic models also show that unemployment benefits that are too generous or pay out over too long a period create disincentives for the unemployed to seek employment. Senate Minority Leader Mitch McConnell (R-KY), speaking through a spokesman, said Republicans will only support extending unemployment benefits if they are bundled with spending cuts. The Associated Press reports that these cuts will likely amount to between $5 billion to $6 billion.

Surprising News out of Illinois

Perhaps the most surprising piece of legislative news is that Senator-elect Mark Kirk (R-IL), who was voted in last Tuesday to President Obama's old Senate seat, may vote for the Disclose Act as a Senator; he voted against it as a member of the House.

According to The Hill, Kirk's spokeswoman recently pointed out his past statements in favor of campaign finance reform as proof that he may move on this issue. An earlier court ruling in Illinois declared that the Senate seat Kirk won would be on the ballot twice, once to fill in for the rest of the 111th Congress and once again for a full term starting in 2011. Kirk won both races, so he will be sworn in earlier than the vast majority of his incoming Senate colleagues, perhaps as soon as November 28, depending on when his election victory is certified.

Senator Lisa Murkowski (R-AK), who is waiting to see if she won re-election through write-in votes, has also hinted that she may vote for the legislation during the lame duck session. Whether these legislators are truly planning to vote for this legislation or if this is just Capitol Hill chatter remains to be seen.