The House and Senate are adjourned until after the November 4 elections. Following the midterm elections, members of Congress are expected to return for two weeks before breaking for the Thanksgiving holiday. Lawmakers should next be in session through December, when work will continue on appropriations, expired tax provisions and curbing corporate inversions. Other issues that could be considered during the lame-duck session include defense and intelligence operations reauthorizations, terrorism risk insurance (TRIA) reauthorization as well as bills related to commerce, sanctions and trade.
Month: September 2014
TRP Clean Energy Report
After just eight days in session following a five-week summer recess, the House and Senate have adjourned until after the midterm elections. Last Thursday, the Senate voted 78-22 to approve a continuing resolution (H.J. Res. 124) that funds the government through December 11, and gives the Obama Administration the authority to equip and train Syrian rebels in their battle against the Islamic State. The House passed the stop-gap funding bill last Wednesday in a 319-108 vote. The CR continues base agency funding at the fiscal 2014 rate of $1.012 trillion. Among its provisions, the measure extends a moratorium on taxing Internet access, and extends authority for the Export-Import Bank through June 30. Lawmakers resorted to a short-term spending bill after both chambers failed to pass all 12 individual appropriations measures. The House passed seven fiscal 2015 spending bills, but the Senate did not approve any.
TRP Health Policy Report
Last week saw lawmakers wrap up work on a series of ‘must-pass’ issues before adjourning until after the midterm elections. On Thursday, the Senate voted 78-22 to approve a continuing resolution (H.J. Res. 124) that funds the government through December 11, and gives the Obama Administration the authority to equip and train Syrian rebels in their battle against the Islamic State. The House passed the stop-gap funding bill last Wednesday in a 319-108 vote. The CR continues base agency funding at the fiscal 2014 rate of $1.012 trillion. Among its provisions, the measure extends a moratorium on taxing Internet access and extends authority for the Export-Import Bank through June 30. Lawmakers resorted to a short-term spending bill after both chambers failed to pass all 12 individual appropriations measures. The House passed seven fiscal 2015 spending bills, but the Senate did not approve any.
TRP Financial Services Report
Once again the smell of jet fumes and the need to get home to campaign overrode other political considerations as both the House and Senate wrapped up their work in DC by passing a continuing resolution that funds the government through December 11th. When they come back there is a fairly good chance that we will have found out whether the Republicans have taken back the Senate or whether the Democrats were able to hold onto their majority. Of course with both Louisiana and Georgia requiring run-offs for elections that result in no candidate obtaining more than 50% of the vote, it is also possible that the question may not be answered until next year. If that is the case we can certainly expect the lamest of all lame ducks . Even if everything is settled come November 5th it is still likely that we will see an abbreviated lame duck, although Leader Reid has announced an ambitious agenda that indicates at least he believes that the post-election environment will break the grid lock that has plagued Congress this year.
In Politico, TRP’s Jason Rosenstock Weighs In on Ex-Im Negotiations
In today's edition of Politico Morning Money, Thorn Run's Jason Rosenstock weighs in on this week's congressional negotiations over the future of the Export Import bank. While some Republicans have opposed extension of the Ex-Im bank—arguing that such financing could be facilitated by the private sector—many House Democrats have emphasized demands for a longer extension than the June 2015 date including in the draft CR released last week. Rosenstock notes that "House leadership trying to balance the conservative elements of their party, some of whom have already come half-way on a short term extension, with the hardline position of House Democrats who realize that this may be their best opportunity to secure a multi-year extension of the bank.”
Continue reading “In Politico, TRP’s Jason Rosenstock Weighs In on Ex-Im Negotiations”
TRP Health Policy Report
Last week saw both chambers of Congress return to legislative work following their summer recess. On Thursday, Senate Republicans blocked a Democratic proposal (S.J. Res. 19) to amend the U.S. Constitution to place limits on campaign financing. Democrats needed 60 votes to end debate on the measure, but fell short in a 54-42 party-line vote. Republicans said the vote was a political stunt by Democrats ahead of the midterm elections. Last Wednesday, the Senate voted 73-25 to end debate on the motion to proceed to the Paycheck Fairness Act (S. 2199), which aims to ensure pay equity for women. In other activity, the Senate approved two executive branch nominations and legislation (S. 2154) to extend health service programs for children. The Senate also passed a bill (S. 2323) to gives fathers of veterans with disabilities preference for federal employment purposes. Both measures were approved by unanimous consent.
TRP Financial Services Report
Although the conventional wisdom leads many to conclude that the Republicans will enhance their majorities in the House and have a better than 50-50 shot of taking over the Senate, the current debate about whether to reauthorize the Export-Import bank portends the future value of House Democrats to the business community. With Minority Whip Hoyer and Financial Services Committee Ranking Member opposing the short term extension that is currently included in the Continuing Resolution, it is unclear whether the Republican leadership will be able move the CR without Democratic votes. This coming week should be interesting political theater with House leadership trying to balance the conservative elements of their party, some of whom have already come half-way on a short term extension, with the hardline position of House Democrats who realize that this may be their best opportunity to secure a multi-year extension of the bank, and who are secretly hoping that the House (or Senator Ted Cruz) forces a government shut down over this issue. (though neither are likely to do so)
Sens. Schumer and Durbin Release Text of Corporate Inverters Earnings Stripping Reform Act of 2014
Today, Sens. Chuck Schumer (D-NY) and Richard Durbin (D-IL) released the final text of “Corporate Inverters Earnings Stripping Reform Act of 2014”. The bill is designed to “prevent earnings stripping of domestic corporations, which are members of a worldwide group of corporations which includes an inverted corporation,” while requiring “agreements with respect to certain related party transactions with those members.”
TRP Clean Energy Report
Members of the House and Senate return to Washington this week following a 5-week recess. Lawmakers will have just a few weeks to handle a series of ‘must-pass’ legislative items before adjourning again until the November elections. Key issues expected to be considered include a short-term continuing resolution (CR) to avoid a government shutdown, reauthorization of the Export-Import bank, extending the Internet Tax Freedom Act and consideration of a fiscal 2015 Defense Authorization bill. House leadership plans to revisit several energy and environmental measures in September, including bills to approve the Keystone XL (KXL) pipeline, block federal limits on carbon emissions from power plants and expand access to drilling offshore and on federal lands.
TRP Health Policy Report
The House and Senate were out last week. In notable Affordable Care Act (ACA) implementation news, a federal appeals court announced Thursday that it will rehear a case challenging insurance subsidies in the health law, setting aside an earlier ruling that invalidated the subsidies in many states. The move deals a blow to ACA opponents and could undermine efforts by challengers to persuade the Supreme Court to intervene in the dispute. Elsewhere, HHS Secretary Sylvia Mathews Burwell met with more than a dozen top health insurance executives last Thursday in preparation for the health law's second enrollment period. The meeting, which included both state and national insurance officials, included discussion of affordability on the exchanges and how best to maximize enrollment with only three months for people to sign up. Burwell is working to ensuring the marketplaces do not stumble on Nov. 15, as they did last year – an outcome that clouded the tenure of her predecessor, Kathleen Sebelius.