House lawmakers have reconvened for legislative business and are continuing work on Financial Services Chairwoman Maxine Waters’ (D-CA) bill to reauthorize and reform the Export-Import bank. After approving five amendments to the underlying measure, the House is expected to pass the 10-year reauthorization bill on party-lines later this morning. However, Chairwoman Waters’ bill is not expected to be taken up in the GOP-controlled Senate after the White House issued a veto threat, saying the legislation was not the right "bipartisan, bicameral approach" to deliver a long-term reauthorization.
Looking ahead to next week, action on a month-long continuing resolution (CR) is expected in both chambers as lawmakers look to avert a government shutdown ahead of Thursday’s deadline. The forthcoming stopgap measure is expected to fund the government through Dec. 20, providing negotiators with more time to hammer out a deal for each of the 12 fiscal year (FY) 2020 spending bills. Congressional appropriators and the White House are reportedly close to an agreement on 302(b) funding allocations, and could announce a deal later today or on Monday.