If you were watching your stock portfolios this past week there was a lot of movement – most of it downward – due to concerns about the impact of a potential escalation in the ongoing trade war between the US and China. Given the eccentric management style of this President it is hard to predict how this trade war will get resolved. However, there is another event on the horizon – the need to increase the debt ceiling – that could pose even more of a risk to financial health of this country. At this point, unless a breakthrough occurs this summer, it looks like the extension of the debt ceiling is likely to be part of the same legislative vehicle that will be used to fund the government. Conflating these two, independently politically controversial measures, into one single bill could be a brilliant tactical maneuver, albeit one with a tremendous "risk-reward" ratio. Especially if the White House really doesn't want a real funding bill in September.
Author: Thornrun
This Week on the Hill: House Democrats Queue up Drug Pricing, ACA Legislative Package
Key health care legislation will be on the House floor again this week as Democratic leadership has set up votes on a package (rules committee print) of bills aimed at addressing prescription drug pricing and rolling back Trump-era ACA regulations. While a significant portion of the legislation pertaining to drug pricing enjoys bipartisan support — such as provisions that target “pay-for-delay” settlements (H.R. 1499) and generic “parking” (H.R. 938) — the addition of legislation rolling back some Trump Administration regulations (H.R. 1010) and providing new funding for state-run Exchanges (H.R. 1385) and the Navigators program (H.R. 1386) has ensured that the full package will not receive substantial Republican support. A final vote on the comprehensive health care package is expected later this week.
Health Policy Report
The Week in Review
Health care legislation cleared the House floor last week as lawmakers passed a slew bills pertaining to drug pricing and the Affordable Care Act (ACA). The House passed a bill (H.R. 986) that would prohibit the Departments of Health and Human Services (HHS) and Treasury from taking any action to implement, enforce, or otherwise give effect to Section 1332 State Innovation Waivers — which were designed to allow states to experiment with other strategies to provide health coverage to residents that deliver at least the same level of protections guaranteed under the ACA. Meanwhile, the drug pricing suspension measures (H.R. 1503 and H.R. 1520) would respectively update the FDA’s Orange Book and Purple Book to provide better information on brand drug and biologic patent exclusivity.
Today on the Hill: House Lawmakers Look to Break Disaster Relief Impasse
House lawmakers are set to vote on another disaster relief bill (text; summary) in hopes of breaking a months-long impasse over the emergency funds. The latest $17.2 billion offer from House Appropriations Chairwoman Nita Lowey (D-NY) includes additional funding for Army Corps of Engineers projects, Community Development Block Grant-Disaster Recovery (CDBG-DR) assistance, and the Department of Agriculture's Emergency Conservation program. The bill would also provide an extension of the National Flood Insurance Program (NFIP), pushing the expiration date from the end of this month to Sept. 30 in hopes of providing lawmakers with more time to hammer out a long-term reauthorization measure. The lower chamber will also consider 10 amendments to the underlying legislation prior to a vote on final passage.
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Today on the Hill: House Looks to Undo Trump-era ACA Regulations
House Democrats are set to take another step toward reversing Trump-era regulations pertaining to the Affordable Care Act (ACA). Lawmakers will vote on a bill (H.R. 986) that would prohibit the Departments of Health and Human Services (HHS) and Treasury from taking any action to implement, enforce, or otherwise give effect to the Trump Administration’s guidance revising the requirements for Section 1332 State Innovation Waivers. Section 1332 is a provision of the ACA that allows states to experiment with other strategies to provide health coverage to residents that deliver at least the same level of protections guaranteed by the law. The vote comes as the Trump administration ramps up its legal fight against the ACA, arguing in court last week that the individual mandate is unconstitutional after the penalty for skipping coverage was eliminated in the Tax Cuts and Jobs Act (TCJA) of 2017.
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Today on the Hill: House Queues Up Drug Pricing Suspension Bills
House Democrats are set to address their broad goal of addressing prescription drug prices with a vote on two incremental pieces of legislation. The drug pricing suspension bills (H.R. 1503 and H.R. 1520) up for consideration today would respectively update the FDA’s Orange Book and Purple Book to provide better information on brand drug and biologic patent exclusivity. Additionally, lawmakers will also take up an Energy and Commerce suspension measure (H.R. 1328) that would establish an Office of Internet Connectivity and Growth tasked with promoting broadband internet access.
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Today on the Hill: House Takes Steps to Bring Disaster Relief, ACA Bills to the Floor
House lawmakers will begin their legislative work week this afternoon as the chamber looks to clear two key legislative priorities. For today, the House will consider three bills under suspension of the rules out of the Foreign Affairs Committee, including a measure (H.R. 1704) that seeks to foster commercial relations with foreign countries and support U.S. economic and business interests abroad. Off the floor, lawmakers in the House Rules Committee will meet later today to develop the rule that will govern debate for both the disaster relief aid bill (text; summary) and legislation that would reverse Trump-era Affordable Care Act guidance (H.R. 986). A vote on final passage of these bills is expected later this week.
Health Policy Report
The Week in Review
House and Senate lawmakers returned from a two-week district work period to begin four weeks of legislative business. During their first week back, House lawmakers cleared a pair of resolutions out of the Financial Services Committee aimed at promoting financial literacy. The resolutions seek to support the protection of elders through financial literacy (H.Res 328) and would encourage greater public-private sector collaboration to promote financial literacy for students and young adults (H.Res. 327).
This Week on the Hill: House Lawmakers to Consider Health Care, Disaster Relief Bills
Health care legislation will hit the House floor this week, as lawmakers are expected to vote on legislation to reverse Trump-era Affordable Care Act (ACA) regulations and a pair of bills that take incremental steps toward the broader goal of addressing prescription drug prices. The Protecting Americans with Preexisting Conditions Act (H.R. 986) prohibits the Departments of Health and Human Services (HHS) and Treasury from taking any action to implement, enforce, or otherwise give effect to the Section 1332 State Innovation Waivers — which allows states to experiment with other strategies to provide health coverage to residents that delivers at least the same level of protections guaranteed under the ACA. Meanwhile, drug pricing measures (H.R. 1503 and H.R. 1520) would respectively update the FDA’s Orange Book and Purple Book to provide better information on brand drug and biologic patent exclusivity.
Financial Services Report (5/6)
This week, the House Financial Services Committee is set to mark-up a series of bill, a few of which may end up achieving bipartisan consensus, while the Senate Banking Committee will hold a hearing on data privacy.
On the Floor, much of the messaging will be focused on the Pre-existing coverage bill, but a Disaster Relief bill is also scheduled to be on the floor, and that legislation contains an extension of the Flood Insurance program through September. As the overall Disaster measure has stalled in the Senate over Puerto Rico funding, it is unclear how this will all get resolved but current funding for the Flood program expires around Memorial Day.
The Senate will continue to take up nominations, including, potentially a few related to the Ex-Im Bank, perhaps bringing that saga to a close.