In an article for InvestmentNews, TRP partner Jason Rosenstock offered his commentary on the filibuster’s impact on the Democratic policy agenda. While the House has passed several pieces of legislation that hone in on key Democratic policy priorities, Rostenstock sharply pointed out that the pileup of bills will increase pressure on Senate Democrats to eliminate the filibuster and clinch significant legislative wins. This dynamic is particularly relevant with the Protecting the Right to Organize (PRO) Act, a sweeping package of labor rights reforms that cleared the House on Tuesday, March 9. “As long as the legislative filibuster is intact, it’s going to be hard to find 10 Republicans to vote for the bill.” said Rosenstock.
Continue reading “In InvestmentNews, TRP’s Rosenstock Discusses Dynamics of 50-50 Senate”Author: Thornrun
Health Policy Report (3/8)
Senators passed (50-49) President Joe Biden’s “American Rescue Plan” over the weekend following a marathon “vote-a-rama” debate on amendments. The process was delayed for nearly 12 hours on Saturday as Senators deliberated changes to the unemployment benefits portion. Ultimately, a compromise was reached that pared back the weekly boost to $300 per week until September 6, up to $10,200 of which is to be excluded from taxable income for unemployed workers. Given the changes to the underlying bill, the House now needs to vote on the virus relief package again before it gets placed on the President’s desk for signature.
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With the Senate having completed a marathon voting session over the weekend to advance the COVID-19 relief bill, the House is expected to take it up this week and have it to the President’s desk in time to prevent the unemployed from seeing a break in benefits.
Continue reading “Financial Services Report (3/8)”In The Hill, TRP’s Rosenstock Offers Commentary on Biden Financial Regulatory Agenda
In a recent article from The Hill, TRP Partner Jason Rosenstock provided commentary on President Joe Biden’s financial services agenda as his key regulatory nominees move through the Senate confirmation process. With Biden SEC and CFPB nominees Gary Gensler and Rohit Chopra poised to take the helm at their respective posts, Rosenstock aptly noted that the more liberal financial policy priorities are likely to manifest through agency actions given the narrow Democratic majority in Congress. “The narrow margins in the Senate and the fact that — so far, at least — the filibuster seems like it’s in place, a lot of the progressive wish list is going to move to the agencies,” said Rosenstock.
Continue reading “In The Hill, TRP’s Rosenstock Offers Commentary on Biden Financial Regulatory Agenda”Health Policy Report (3/1)
Capitol Hill Update
Early Saturday morning, House lawmakers passed (219-210) the $1.9 trillion “American Rescue Plan,” sending it to the Senate for consideration this week. The current version of the measure will be subject to additional changes in the upper chamber after the Senate Parliamentarian ruled last week that the proposed $15 minimum wage increase would violate budget reconciliation rules. As a result of the ruling, Democrats in the Senate are going back to the drawing board with respect to this provision, exploring possible changes to the tax code to incentivize businesses to pay their workers higher wages. House leadership has targeted the week of March 8 to vote on the package again, given the fact Senators will need to make changes to the underlying bill.
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Action on the reconciliation bill will turn to the Senate, which is expected to turn its attention to the measure before the end of this week. In addition, the Senate will continue to vote on the President’s nominees, with pending action expected on Monday to approve Miguel Cardona to lead the Department of Education. Later in the week the Senate is expected to approve Gov. Gina Raimondo to be the Secretary of Commerce, overcoming a hold that Senator Ted Cruz (R-TX) had placed over concerns about Huawei and Chinese state-run entities.
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Congress will resume legislative business this week as lawmakers look to check off the Biden administration’s key first 100-day priorities. The Senate will convene first this afternoon and is expected to resume consideration of pending presidential nominees for the balance of the week. Nominations that will come up for a vote include Linda Thomas-Greenfield’s nomination to be Ambassador to the United Nations and Tom Vilsack’s nomination to be Secretary of Agriculture. Senate Committees are also scheduled to hold confirmation hearings for Biden cabinet nominees this week, including California Attorney General and former congressman Xavier Becerra to lead the Department of Health and Human Services (HHS), Rep. Deb Haaland (D-NM) to be Interior Secretary, and Katherine Tai to be United States Trade Representative (USTR) Ambassador.
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After a pseduo-recess week Congress returns to really start cranking on moving the Biden administration’s key first 100 day priorities. For the Senate, this means moving nominations, starting with Linda Thomas-Greenfield’s nomination to be Ambassador to the United Nations, as well as Tom Vilsack’s nomination to be Secretary of Agriculture, and potentially Gina Raimondo to be Commerce Secretary if Ted Cruz relents.
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House Committees wrapped up their markups of reconciliation instructions on the next round of COVID-19 relief legislation last week as Democratic lawmakers look to get the measure onto the floor for a vote. Members on the House Budget Committee will meet this week to combine all of the reconciliation instructions into the final $1.9 trillion virus relief bill, with floor consideration likely to occur the following week of February 22. A formal notice for the Budget panel’s forthcoming meeting has yet to be posted.
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With all of the House Committees having finished their mark-up of their respective portions of the COVID-19 relief bill, the action will turn to the Budget committee which will compile all of these bills into one massive piece of legislation that the House will take up the week of the 22nd.
Continue reading “Financial Services Report (2/15)”