Earliest Vote Date: January 27

Israel elections can be held as early as January 27 if the Knesset votes for a bill to dissolve the legislature when it opens its winter session Monday afternoon, which would end the shortest session in history. The bill will be submitted by Kadima caucus chairman Knesset Member Yoel Hasson.

Kadima MK Tzachi HaNegbi also may ask outgoing Prime Minister Ehud Olmert to declare himself incapable of serving, a move that would enable Livni to assume the position of acting Prime Minister during the campaign.

The Knesset legally can wait 21 days before dissolving after the president decides that none of the party leaders can form a government. In that case, elections would be held in mid-February. However, the Knesset can waive the 21-days waiting period and dissolve immediately, a move that most Knesset Members apparently favor. The law requires at least three months between dissolution of the Knesset and elections.

"There's no point in waiting three weeks before the election recess," said Kadima MK Ben Sasson, who also heads the Knesset Law Committee. "Campaign economics will thrive during this time and irresponsible Knesset Members will pass unrestrained budgetary laws," he explained.
There's no point in waiting three weeks before the election recess," said Kadima MK Ben Sasson.

Knesset Speaker Dalia Itzik (Kadima) is expected to ask party leaders Monday not to vote on budget issues before elections in order to prevent bills that will be submitted as campaign gimmicks.

The next Knesset will be faced with the task of passing the 2009 budget by March 31, assuming that the current legislature will be dissolved. The Cabinet already has approved the proposed budget, but it did so only by one vote, leaving many parties disgruntled.

The worldwide financial crisis and the resulting slowdown in economic growth will make it even harder for the next government to come up with a budget that will satisfy potential coalition partners.