Several key Obama Administration officials will head to Capitol Hill today to defend the President’s $4.1 trillion budget request. The President’s budget projects revenue to increase by $308 billion next year and spending to rise by $196 billion. Congressional Republicans have already rejected a number of the Obama’s proposals, including a $10.25 per barrel fee on oil that would be used to generate $319 billion over 10 years to pay for infrastructure. TRP will be tuning in as Health and Human Services (HHS) Secretary Sylvia Mathews Burwell testifies before the House Ways and Means Committee, and when Federal Reserve Chair Janet Yellen testifies before the House Financial Services Committee.
Author: Thornrun
Financial Services Report
Looking Ahead
Near Term
- The President will release his budget to Congress on Tuesday and multiple hearings have already been scheduled to allow heads of Agencies and Departments to justify and defend their requests.
- Fed Chair Yellen will come back to the Hill for her Semi-annual testimony on monetary policy. With Friday’s lower than expected jobs numbers still fresh in the minds of many members, she should expect questions on the state of the economy, wages, and future interest rate increases.
- The Senate is expected to wrap up consideration of the Energy bill before turning to legislation to increase sanctions on individuals, foreign governments and financial institutions engaged in prohibited transactions with North Korea. It is also possible that the Senate will vote on the customs conference report – though extraneous issues related to the inclusion of language making permanent the internet tax freedom act continues to complicate passage as supporters of a controversial measure to impose sales taxes on remote internet transactions continue to want to keep the two issues linked.
This Week on the Hill: Obama’s Budget, Flint, Debt-Reduction
All eyes in Washington will be on the White House tomorrow when President Obama releases the final budget of his presidency. Committees in both chambers of Congress have scheduled hearings to dissect the budget later in the week, even though most observers expect that the spending plan will fail to gain any serious traction in the Republican-controlled legislature. Nevertheless, look for the President’s budget to call for a $10 per barrel tax on oil to pay for transportation and climate initiatives and changes to the Affordable Care Act’s Cadillac tax.
Continue reading “This Week on the Hill: Obama’s Budget, Flint, Debt-Reduction”
Health Policy Report
The Week in Review
Both chambers took on full schedules last week as lawmakers considered measures ranging from a comprehensive energy bill in the Senate to an override of the President’s veto on budget reconciliation legislation in the House. In the upper chamber, Sen. Lisa Murkowski (R-AK) attempted to shepherd energy legislation (S.2012) through the open-amendment process without attracting any controversial add-ons, but her efforts were thwarted over the ongoing water crisis in Flint, Michigan. Democrats have blocked the bill until it includes more federal aid to help Flint remedy its lead-polluted water supply. Last Thursday, a vote to end debate on the measure failed in the Senate on a count of 43 to 54, as a number of Republicans joined their Democratic colleagues in wanting to extend consideration of the bill.
Financial Services Report
Our Take
What was supposed to be a slow start to the 2016 Congressional calendar was further delayed by a snow storm that dumped historic accumulations on our nation’s Capital causing the House to cancel work for the week and the Senate to delay votes. While many pundits criticize members of Congress for not living and working in DC and returning back to their home districts / states each weekend, this past week may have been an example of why the so-called “Tuesday-Thursday” lifestyle is so detrimental to the health of Congress. With the DC metro region snowed in, and almost all area schools shut down for the entire week, it would be a safe bet that if Members of Congress and their families lived in, or near, the District of Columbia (as they had in years past) the politicians would have been willing to cut any deals just to get out of the house.
Health Policy Report
The Week in Review
A severe snowstorm struck Washington last weekend, disrupting the schedules of both chambers. The House elected to delay all legislative business due to the weather, in part because Democrats were already scheduled to head to Baltimore for an issues conference on Wednesday and Thursday. The snow only held off the Senate until Wednesday, when the upper chamber started work on a wide-ranging energy bill. Sen. Lisa Murkowski (R-AK), Chairwoman of the Senate Energy and Natural Resources Committee, has labored to ensure the bill moves forward in a bipartisan fashion and the Senate will likely finish their consideration of the measure this week. The legislation (S. 2012) is designed to boost energy efficiency, speed construction of electric transmission lines, and streamline permitting for natural gas exports. Specific provisions of the bill include strengthening building codes, increasing cybersecurity protections for the electricity grid, and expediting the licensing process for hydropower projects.
Today on the Hill: Energy Amendments in the Senate
The Senate is set to begin working through amendments on a wide-ranging energy bill, as Sen. Lisa Murkowski (R-AK), Chairwoman of the Senate Energy and Natural Resources Committee, is working to ensure the bill moves forward in a bipartisan fashion. The legislation (S. 2012) is designed to boost energy efficiency, speed construction of electric transmission lines, and streamline permitting for natural gas exports. Among the bill’s provisions, it would strengthen building codes, increase cybersecurity protections for the electricity grid, and expedite the licensing process for hydropower projects.
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Today on the Hill: DC Still Shoveling Out
With Washington still shoveling out from a mammoth snow storm and the public transit systems and airports not yet back to full service, the Capitol will remain largely quiet today. The Senate’s scheduled to gavel in at 10:00 a.m. with no roll-call votes planned for the day. Senate leadership has delayed until tomorrow a vote on a judicial nomination. When senators do get back to town, Senate Republicans plan to begin floor debate on energy legislation. The measure (S. 2012), which had bipartisan support in the Senate Energy and Natural Resources Committee, includes provisions designed to boost efficiency, speed construction of electric transmission lines, and streamline permitting for natural gas exports.
Continue reading “Today on the Hill: DC Still Shoveling Out”
Health Policy Report
The Week in Review
With the House in recess and the work-week shortened by both Martin Luther King, Jr. Day and a severe snowstorm that sent lawmakers home on Thursday, legislative business was light last week. However, on Tuesday, Senate Democrats successfully blocked a House-passed measure (H.R. 4038) that would restrict refugees from Iraq and Syria from settling in the United States. While the measure was initially slated to be subject to floor debate, Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Harry Reid (D-NV) were unable to strike a deal on politically charged amendments. Republicans were hoping to include a provision that would give governors the ability to reject refugees from their states, while Democrats wanted to force a vote on presidential candidate Donald Trump’s proposal to ban Muslims from entering the United States. Leader McConnell’s reversal on allowing floor debate is likely to save fellow Republican senators from being on the record over the controversial ‘Muslim-ban’ in an election year.
This Week on the Hill: Snowstorm Delays Votes in Both Chambers, Energy Bill in Senate
Washington is still digging out from a severe snowstorm over the weekend that brought two feet of snow to the area. As a result, the week’s schedule is still in flux, with the House already calling off all votes for the week and the Senate delaying all their votes until Wednesday at the earliest. As of this moment, Senate Republicans plan to begin floor debate on energy legislation this week – if the streets are clear of snow and Washington is back to business. The measure (S. 2012), which had bipartisan support in the Senate Energy and Natural Resources Committee, includes provisions designed to boost efficiency, speed construction of electric transmission lines, and streamline permitting for natural gas exports.