Financial Services Report (2/11)

Our Take

A legend of Congress and of American history, John Dingell passed away at the age of 92 last Thursday.   He served in Congress for nearly 60 years, and was involved in, and saw a lot of legislative sausage being made.   He served as Chairman of the House Energy and Commerce Committee from 1981 to 1994 and then again from 2008-2010.   At the height of his power the Committee had such a broad jurisdiction that half of the bills that congress considered emanated out of his Committee.   They don’t make members like John Dingell anymore, and if you didn’t know him, this clip from the waning hours of the debate on the Gramm-Leach-Bliley bill from 1999 is a pretty good summation.  

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This Week on the Hill: Funding Negotiations Continue as Friday Deadline Looms

Congress will return to Washington today as lawmakers scramble to fund the government ahead of Friday’s deadline. Despite optimism heading into the weekend about reaching a border security deal and funding the government past the Feb. 15 deadline, negotiators of the bipartisan border security Conference Committee indicated Sunday that the talks have hit an impasse over immigration detention policy and the total funding allocation. The talks have reportedly shifted away from a broader deal and toward a continuing resolution (CR) that would keep the government funded and provide negotiators with additional time.

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Health Policy Report

The Week in Review

Members of the Department of Homeland Security (DHS) Conference Committee resumed talks last week in hopes reaching a deal to avoid a second partial government shutdown. Despite optimism heading into the weekend about reaching a border security deal and funding the government past the Feb. 15 deadline, negotiators of the bipartisan border security Conference Committee indicated Sunday that the talks have hit an impasse over immigration detention policy and the total funding allocation. The talks have reportedly shifted away from a broader deal and toward a continuing resolution (CR) that would keep the government funded and provide negotiators with additional time.

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Next Week in Congress: DHS Conference Committee Looks to Push Border Deal Across the Finish Line

Members of the bipartisan border security conference committee are reportedly close to clinching a deal that would not provide President Trump with his $5.7 border wall request but would avert a second shutdown. The proposal — which could be unveiled later today or Monday — would keep the government funded and provide additional border security spending on patrol agents, fencing, and upgraded detection technology. Lawmakers on the Conference Committee have indicated they will do whatever it takes to avoid another funding lapse despite the President’s potential opposition of the final deal.

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Today on the Hill: Senate Begins Consideration of Sweeping Federal Lands Package

Senators are set to begin consideration of a bipartisan federal lands package championed by conservation advocacy groups. The Natural Resources Management Act (S.47) would permanently reauthorize the Land and Water Conservation Fund (LWCF) — a program that uses federal oil and gas royalties from offshore drilling to fund acquisitions and easements of land and water — and also includes a host of provisions that would increase recreational access to federal lands and add to national parks and other land holdings. The Senate attempted to pass the lands package late last year in hopes of addressing the LWCF’s funding lapse, but was blocked by Sens. Mike Lee (R-UT) and Rand Paul (R-KY).

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This Week on the Hill: Border Security Talks Set to Resume; Trump to Deliver SOTU on Tuesday

Congress returns this week as lawmakers resume border security Conference Committee negotiations. The odds of another funding lapse were raised after Speaker Nancy Pelosi (D-CA) emphasized that the Democratic border security proposal will not include funding for President Trump’s border wall priority. If the Conference Committee is unable to produce a deal that appeases President Trump, the President has reiterated he is willing to either shut down the government again, or bypass Congress and utilize military construction resources for the wall through a national emergency declaration.

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Health Policy Report

The Week in Review

House and Senate lawmakers began border security negotiations last week in hopes of striking a border security compromise, yet a bipartisan agreement remains elusive. In addition to the debate over President Trump’s $5.7 billion border wall priority, lawmakers have been hamstrung over the possibility of adding deals on immigration policy and the debt limit to the underlying negotiations. If the negotiators fail to craft a product that can pass both chambers in that time and earn the president's signature, funding is likely to lapse again for the Departments of Transportation, Agriculture, Homeland Security, Treasury, Commerce, Housing and Urban Development, Justice, State and Interior, as well dozens of agencies including the Food and Drug Administration (FDA), National Science Foundation, Environmental Protection Agency (EPA), and Internal Revenue Service (IRS).

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Financial Services Report (2/4)

Our Take

For those working off their Big Game spiderwebs this morning, please appreciate that this is a relatively slow week.   The apex will likely come on Tuesday when the President delivers the State of the Union.   Beyond that there are a few hearings of note, including two on retirement security.   While infrastructure often is cited as "the" issue where bipartisan support for legislation exits, a similar sentiment is out there to address the looming retirement crisis.  

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Next Week in Congress: Conference Negotiations Set to Resume As Democrats Unveil Border Proposal

The odds of another partial government shutdown were raised yesterday after Democrats unveiled their initial border security proposal. The plan — which does not include funding for President Trump’s border wall priority — would allocate new funding for: (1) modernizing Border Patrol technology and infrastructure; (2) hiring 1,000 customs officers; and (3) “humanitarian” needs such as food and medical care. It’s a deal that the President is likely to reject, as he has reiterated he is willing to either shut down the government again, or bypass Congress and utilize military construction resources for the wall through a national emergency declaration.

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