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Health Policy Report

The Week in Review

The Senate convened last week to clear an array of high-profile legislative items — headlined by a contentious debate over the nomination of Brett Kavanaugh to be an Associate Justice of the Supreme Court. Prior to consideration of the Kavanaugh nomination, Senators passed a $90 billion funding bill (H.R.302) that reauthorizes the Federal Aviation Administration (FAA) for five years. The Senate also held a final roll call vote on the opioid crisis response legislation, sending the bill to President Trump’s desk for signature into law.

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Financial Services Report

Welcome to the Columbus Day edition of Thorn Run Partners' financial services report, where we provide you the insight and analysis that is ahead of the curve and driving the narrative in Washington, DC.    

While Washington and the nation were gripped by the Kavanaugh nomination last week, there was also numerous events and activities taking place last week of note for the financial services industry. In case you missed any of it, we hope this newsletter is helpful in catching you up.

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Today on the Hill: Senate Resumes Consideration of Kavanaugh Nomination

Following passage of both the opioids bill and Federal Aviation Administration (FAA) reauthorization, the Senate will now turn its attention to the FBI’s report regarding allegations of misconduct against Supreme Court nominee Brett Kavanaugh. Senators will have all of today to review the report before holding a procedural vote to end debate on the nomination tomorrow. Should lawmakers vote to end debate, a final up-or-down vote on the nomination would likely come Saturday.

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Today on the Hill: Senate Resumes Consideration of FAA Reauthorization Measure

The Senate will reconvene this morning as lawmakers continue work on a reauthorization measure for the Federal Aviation Administration (FAA). The bill (H.R.302) would provide roughly $90 billion in funding for the FAA over the next five years and would prevent an agency shutdown next week. Final passage of the FAA reauthorization bill could come as early as today, but is expected to be taken up tomorrow.

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This Week on the Hill: Senate Looks to Check Off Long-Term FAA Reauthorization, Opioids Bill

The Senate returns to action today as lawmakers seek to clear an array of high-profile legislative items. When the chamber returns later this afternoon, Senators will immediately proceed to consideration of a bill (H.R.302) that would reauthorize the Federal Aviation Administration (FAA) for five years. The Senate passed a short-term extension of the current funding levels last Friday in an effort to provide additional time for consideration of the House-passed bill. Additional floor action in the Senate for the balance of the week includes a final vote on the opioid crisis response legislation, which would send the bill to President Trump’s desk for signature into law.

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Health Policy Report

The Week in Review

The House convened for their last week of legislative business prior to the midterm elections. Prior to leaving for the campaign trail, lawmakers passed key legislative priorities including: (1) a “minibus” package containing funding bills for Defense-Labor, Health and Human Services (HHS) , Education (bill textconference reportsummary), (2) a sweeping opioid crisis response bill (H.R. 6); and (3) legislation (H.R. 302) that reauthorizes the Federal Aviation Administration (FAA) for five years. The Defense-Labor-HHS package — which was signed into law by President Trump on Friday — also included a continuing resolution (CR) through December 7th allowing Congress to avert a shutdown and punt decisions on unresolved issues until after the mid-term elections.

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Financial Services Report

What a week that that was.  Between the convergence of the end of the fundraising quarters, the House getting out until after the election and the Kavanaugh hearing, it was certainly one of the maddest weeks in Washington, DC in recent memory.   

However, there was also a lot going on in Congress in the Administration beyond those things.  So if you missed any of it, hopefully this newsletter will bring you up to speed. 

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Today on the Hill: House Set to Pass Opioid Crisis Response Legislation

The House will convene for their last day of legislative business before the midterm elections, as GOP leaders seek to send their Members home with a fresh pair of policy accomplishments to campaign on. Following months of negotiations, the House is set to pass a sweeping opioid crisis response bill (H.R. 6). The bill underwent a few last minute changes that would make the legislation budget-neutral following a Congressional Budget Office (CBO) projection that showed the bill would grow the deficit by $44 million. These changes include: (1) broadening the Affordable Care Act’s religious exemption to the law’s individual mandate so it applies to people who forgo medical care due to religious reasons; and (2) modification of the “pay-for-delay” legislation (S.2554) to address drug patent settlements approved by both chambers earlier this month. Once passed, the Senate will need to vote on the final version of the underlying bill before it heads to President Trump’s desk for signature into law. 

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Today on the Hill: House Set to Clear Defense-Labor-HHS Spending Measure, FAA Reauthorization

House lawmakers will reconvene this morning as the lower chamber seeks to check off key legislative priorities. The House is set vote on the minibus package containing the Defense-Labor, Health and Human Services, Education (Labor-HHS) FY 2019 funding bills (H.R. 6157) (bill textconference reportsummary). The Defense-Labor-HHS package will also serve as the vehicle for a continuing resolution (CR) through December 7th — allowing Congress to avert a shutdown and punt decisions on unresolved issues until after the mid-term elections.

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Today on the Hill: House Set to Tackle Lengthy Suspension List

House lawmakers return to Washington today as they seek to clear a full slate of legislative priorities. The lower chamber’s week will start with consideration of 38 bills under suspension of the rules. Among the bills under consideration include two Senate-passed bills — The Patient Right to Know Drug Prices Act (S. 2554) and the Know The Lowest Price Act (S. 2553) — that seek to crack down on the use of “gag clauses” that prevent pharmacists from telling customers that they could save money by paying cash out-of-pocket rather than using their insurance benefit. S. 2554 applies to all private insurance plans, whereas S. 2553 covers Medicare Part D and Medicare Advantage plans.

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