House Committees Resume Reconciliation Markups

Both the House and Senate are in the August Recess and will return on September 9th. When the Senate returns in September it will continue approving executive nominations, including those of Kelly Craft to be UN Ambassador and Michelle Bowman to the Fed Board.   The House Financial Services Committee will also have a full […]

Senators may look to wrap up legislative business for the summer later this afternoon. In addition to a host of presidential nominations, Senate Majority Leader Mitch McConnell (R-KY) has queued up the bipartisan budget agreement for a vote at some point during today’s session. Final passage of the measure — which would boost spending by […]

Senators will reconvene this afternoon as they look to wrap up key legislative priorities ahead of the August recess. Majority Leader Mitch McConnell (R-KY) is expected to swiftly call up the House-passed budget deal (text; summary), as the upper chamber will need to hit the ground running in September on the 2020 appropriations process. In addition […]

The Week in Review House lawmakers cleared (284-149) the sweeping budget package (text; summary) last week, addressing key fiscal deadlines prior to leaving for the six-week August recess. Struck by top negotiators early last week, the deal provides for a $321 billion boost in federal spending over the next two years, while also suspending the debt ceiling for two years. The bill is expected to pass […]

In this age of twitter, where everyone can be a pundit, yelling into that that ever-growing social media echo chamber it is important to remember that if politics is passion, then governing is math.  And the math still matters.  So while the media continues its codependent cycle with the President or jumping from hot take to hot […]

House lawmakers cleared (284-149) the sweeping budget package (text; summary) yesterday, addressing both the federal borrowing limit and budgetary spending caps prior to leaving for the six-week August recess. The Senate is scheduled to follow suit early next week, as the upper chamber will need to hit the ground running in September on the 2020 appropriations process. […]

Lawmakers are set to strap in for another busy day of legislative business both on and off the floor. In the lower chamber, House lawmakers are expected to pass the compromise budget deal (text; summary) later today, addressing key fiscal deadlines ahead of the six-week August recess. The deal provides for a $321 billion boost in federal spending […]

Congressional leaders and President Donald Trump have struck a compromise budget deal (text; summary) that would address pressing deadlines for the federal debt ceiling and budgetary spending caps. The deal provides for a $321 billion boost in federal spending over the next two years, with $738 billion for defense spending and $632 billion for non-defense in fiscal […]

White House and Congressional leaders are still working to finalize details of a sweeping budget deal that would address the debt ceiling and budgetary spending caps. Reports suggest that both sides are zeroing in on a deal that would include spending offsets that total less than the administration’s $150 billion demand, as well as a […]

The Week in Review Treasury Secretary Steven Mnuchin announced last week that the White House and Congressional leaders have agreed on terms for a sweeping budget deal that would address spending levels for fiscal years (FY) 2020 and 2021 and the debt ceiling. According to Mnuchin, Congressional leaders agreed to offset the increased spending limits […]

After three insanely busy weeks, this next week looks to be at a more humane pace with only a handful of hearings of relevance to the Financial Services industry.   On Tuesday the Senate Banking Committee will hold a hearing on Cannabis in the banking industry, as proponents of cannabis banking continue to advance their […]

Congress has adjourned for the week as negotiations on a sweeping budget deal continue behind the scenes. Despite reaching a general agreement on the framework for the deal, talks are still ongoing over specific numbers, offsets, and structural issues. Late yesterday, the White House gave House Democrats an extended list of $574 billion in offset […]