After a two-week recess, the Senate reconvenes today and hopes to enjoy a week of bipartisanship through the consideration of two bills that are unlikely to meet serious opposition from either party on the chamber floor. Senators plan to first vote this evening on a measure (S. 1890) that would provide American businesses with new legal remedies to combat the theft of trade secrets. While current law dictates that owners of misappropriated trade secrets must rely on law enforcement agencies or state courts for recompense, the measure would allow owners to sue for damages directly in federal courts. The bill was passed by the Judiciary Committee on a voice vote, signaling that it will likely pass on the chamber floor with limited debate.
Author: Thornrun
Health Policy Report
The Week in Review
Both chambers of Congress were in recess last week for the Easter holiday. The Senate will return today, while the House is expected to reconvene next week on Monday, April 11.
Financial Services Report
Looking Ahead
Near Term
- House and Senate are out for the Easter Recess
- On Tuesday Federal Reserve Chair Janet Yellen will deliver a speech on “Economic Outlook and Monetary Policy” at the Economic Club of New York.
- On Thursday, Comptroller of the Currency Thomas J. Curry is scheduled to speak at Harvard where here will address his agency's work to support responsible innovation in the federal banking system and announce the OCC white paper on “FinTech.”
Health Policy Report
The Week in Review
With the Senate in recess for the Easter holiday, the House elected to take a short week before leaving for their own two-week break on Wednesday. The key legislative action involved passing a bill (H.R. 2745) adjusting the legal authority for the Federal Trade Commission (FTC) to halt business mergers and issuing a resolution (H. Res. 658) condemning the terrorist attacks in Brussels, Belgium and offering American assistance in tracking down those responsible. The FTC legislation – which would hold the agency to the same legal standard as the Justice Department’s Antitrust Division in order to halt a merger – passed on a largely partisan vote of 235-171. If enacted, the bill would eliminate the FTC’s use of administrative proceedings to challenge mergers, addressing the concerns of the business community in having a deal challenged in both federal court and before an administrative law judge. The White House has expressed its opposition to the bill, but stopped short of issuing a veto threat in its statement on the measure.
Today on the Hill: Easter Recess
The House and Senate are officially on Easter break, as the House adjourned yesterday after passing a resolution condemning the terrorist attacks in Brussels, Belgium, along with a bill that would curb the Federal Trade Commission’s (FTC) merger authority. The Senate is expected to return from their two-week break on Monday, April 4, while the House is expected to reconvene on Monday, April 11.
Health Policy Report
The Week in Review
The House and Senate were both in session last week, as each chamber passed respective versions of funding extensions for the Federal Aviation Administration (FAA). Early in the week, the House advanced their own version of legislation that would extend aviation taxes — including fuel and ticket charges — through March 2017. Later, the Senate passed its own version of the bill (H.R. 4721) that would only extend the taxing authority through mid-July, a maneuver from Senate Democrats who say they were promised they could attach renewal of alternative energy tax credits to an FAA bill this year.
This Week on the Hill: With Senate in Recess, House Works on Budget Negotiations, FTC Bill
The Easter recess has begun for the Senate, and House lawmakers are planning for a short week before beginning their own spring break. In the lower chamber, the first round of the appropriations fight is expected to take place as House leaders scramble to generate support for a budget resolution at the spending levels agreed to under a deal struck by Congressional leaders and the White House last year. House Appropriations Committee Chairman Hal Rogers (R-KY) is planning to move forward with all twelve traditional appropriations bills, even though ongoing efforts to adopt a budget resolution means the panel hasn’t yet finalized top-line allocations. The House Freedom Caucus – a group of hardline conservative lawmakers in the House – has strongly opposed the spending levels set under the 2015 deal, and Republican leaders are set to meet with the caucus this week to see if a compromise budget resolution is possible.
Financial Services Report
Our Take
This week, during his Committee’s semi-annual hearing of the CFPB, House Financial Services Chairman Jeb Hensarling shared his belief that Congress had abdicated too much of its Article I authority in delegating powers to the Administration. While he specifically was referencing CFPB Director Cordray, who he referred to as “a dictator, and not a benevolent one,” his comment about Congress giving up too much of its power was very similar to those of Congressional Democrats circa 2004-2006. Though those were in reference to then President George W. Bush and what they viewed as the profligate usurpation of congressional legislative prerogative,– or in that case — the ability to declare war. While neither side of the aisle is likely to agree that the either was correct in their respective frustrations with the acquiescence of Congressional authority to the Administrative branch, it isn’t surprising that similar sentiment exists. And it many ways it is this disconnect that is a driving force in the gridlock that has ensnared Washington. Ironically, it is a Trump presidency that may be the one thing that can truly unclog the resolute partisanship in Congress, as the institution will need to put aside petty difference to face the challenge of President Trump in order to reassert itself as the primary governing force in America. If so, then that may just be the one way a Trump Presidency makes America great again.
Today on the Hill: Debate Clock Ticks on Opioid Abuse Legislation
A procedural dispute in the Senate is holding up widely-bipartisan legislation aimed at curbing a growing opioid-addiction epidemic that lawmakers still hope to complete this week. The Senate is scheduled to spend the day in post-cloture debate on a substitute amendment (#3378) to the legislation (S.524), which would expand treatment for opioid addiction. Leaders in both parties said they expect the Senate to finish the bill this week. Still, the continuing disagreement over amendments could delay final passage several days if Democrats insist on using each of the 30 hours of debate after cloture is invoked on the substitute amendment and on the underlying bill.
Continue reading “Today on the Hill: Debate Clock Ticks on Opioid Abuse Legislation”
Financial Services Report
Looking Ahead
Near Term
- On Monday, President Obama will meet with the heads of the various financial regulatory bodies. While this is the fourth meeting of these principles in the White House during the President’s two terms, and no new policy announcements are anticipated, the timing, so close to the roll out of the fiduciary rule, is quite interesting.
- The appropriations committee is hard at work trying to get the work down to accommodate Senate Leader McConnell’s plan to “dedicate three months” on spending bills this year. This schedule would likely translate to a good portion of June, July and September but almost all conventional wisdom points to an end of the year omnibus or a long term continuing resolution being necessary to resolve final spending numbers.
- The House is in recess this week.