In an article for CQ Roll Call, TRP’s Jason Rosenstock offered his insights on Congress’s Financial Services “to-do” list for 2020. While speculation indicates that Senate Majority Leader Mitch McConnell (R-KY) will spend more time on presidential nominations in 2020, Rosenstock pointed to cannabis banking legislation, anti-money laundering laws, and flood insurance reform as top priority policy items that could hitch a ride on a larger financial services-related package or must-pass measure before the end of this year. “Clearly there is a broad interest in getting some type of relief for banks and payment processors,” said Rosenstock. “But whether there is enough support for a narrow, financial services industry-only fix will play itself out over the next year.”
Lawmakers will resume legislative business later this afternoon as the Senate gears up for the next phase of the impeachment process. In a “Dear Colleague” letter to lawmakers late last week, Speaker Nancy Pelosi (D-CA) announced that the House will take up a resolution to appoint managers and transmit the articles of impeachment against President Donald Trump to the Senate. Senators are expected to swiftly begin the impeachment trial process upon disposition of the resolution.
Once again Democrats were smirking as Republicans appeared to wage civil war, this time over the decision to renew the charter for the Export-Import Bank. All Art Vandelay jokes aside, the debate over the Ex-Im bank once again has shown the schism in the Republican party, and how there are really three parties in Congress – Republican, Democratic, and Tea Party. While it looks like both sides may be able to claim victory in this instance by kicking the can down the road for a few years, it is worth noting that we continue to witness similar battles and results on other issues. As a result, more and more items are being added to the lame duck agenda, and it is shaping up to be a very busy November and December in our nation’s Capital – the only question is will there be enough runway to get all things done.