Leadership Mulls Another Stopgap Funding Bill

Key members of Senate leadership have begun warming to the idea of another continuing resolution (CR) as appropriators race to play catch-up on fiscal year (FY) 2024 spending. Notably, Senate Minority Whip John Thune (R-SD), second in line to Leader Mitch McConnell (R-KY), expressed openness to a short-term funding patch that would extend government funding through March— possibly in line with the March 8 deadline to reauthorize the Federal Aviation Administration (FAA). Meanwhile, Appropriations Chairs Kay Granger (R-TX) and Patty Murray (D-WA) could reportedly unveil subcommittee allocations for all 12 spending bills today. But if this behind-the-scenes work slips into next week, there could be increased momentum behind another CR.

— HOUSE TEES UP FINANCIAL SERVICES BILLS. House lawmakers will gavel in for legislative business today to consider five suspension bills out of the House Financial Services Committee (HFSC). This includes one measure that seeks to promote actions to admit Taiwan into the International Monetary Fund (IMF), while another bill would adjust U.S. policy to work to exclude the Chinese government from various international financial organizations if the president determines that China took actions to threaten Taiwan’s economic or national security. Additionally, lawmakers will consider legislation that would require the Treasury Department’s Office of Foreign Assets Control (OFAC) to develop a pilot program to allow private-sector firms to conduct nominal financial transactions with sanctioned entities in furtherance of investigations.