SENATE TO ADDRESS
MORTGAGE CRISIS THIS WEEK VIA ENERGY BILL VEHICLEThis week, the Senate
will again attempt to address the national mortgage crisis using the
energy tax bill as the vehicle. The Senate is expected to first
vote on a motion to reconsider the energy tax bill (H.R. 3221). If
that motion is adopted, the Senate is likely to limit debate and proceed
to address a mortgage-foreclosure relief package (S. 2636).
The energy tax bill
(H.R. 3221), sponsored by Speaker Pelosi, among other representatives,
attempts to move the United States toward greater energy independence.
The bill would increase clean renewable energy production and modernize
the existing energy infrastructure. The bill would also provide
tax incentives for renewable energy production by amending the Internal
Revenue Code of 1986.
The
mortgage-foreclosure relief package (S. 2636) includes tax provisions
eventually removed from the economic stimulus package. The package
would also include tax benefits for businesses and provide $4 billion in
block grants to purchase and rehabilitate foreclosed properties.
However, the package includes a provision that would allow a bankruptcy
court to change the terms of a homeowner's mortgage. President
Bush has vowed to veto the bill if this provision is included.
HUD SECRETARY JACKSON
RESIGNS
From Bloomberg.com:
U.S. Housing and Urban Development Secretary Alphonso Jackson quit
following calls by lawmakers for him to step down amid a federal
criminal probe into contracts the agency awarded.
``There comes a time when one must attend more diligently to personal
and family matters,'' Jackson, reading from a statement, told reporters
in Washington today. ``Now is such a time for me.'' His resignation
takes effect April 18.
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THE WEEK AHEAD: Congress returns from a
two-week recess to face several fiscal matters including U.S.
financial and housing markets and the economy. Hearings will
be held this week and substantive legislation aimed at stabilizing
the economy, preventing foreclosures and creating a new regulatory
framework for the financial will be discussed. Federal Reserve
Chairman Ben S. Bernanke, SEC Chairman Christopher Cox and Treasury
Secretary Henry M. Paulson will meet with the Senate Banking
Committee on recent troubles in the financial services sector.
In addition, Federal Reserve Chairman Ben S. Bernanke will address
the Joint Economic Committee regarding the U.S. Economic Outlook.
The House is expected to consider wildlife bills
under suspension of the rules (H.R. 4933, H.R. 1187). House
Natural Resources will mark up land-use bills (H.R. 3513, H.R. 5151,
H.R. 3734, H.R. 831).
Senate Judiciary will mark up legislation regarding
bankruptcy (2136), mortgages (S. 2133), fuel excise taxes (S. 2401,
state secrets (S. 2533), court interpreter grants (S. 702) and a
resolution on 911 emergency education.
HOUSE FLOOR. The House convenes today
to consider 9 measure under suspension. On Tuesday, April 1
and for the remainder of the week, the House will take up 15
measures under suspension, and will consider a rule for floor debate
of a global HIV/AIDS, tuberculosis and malaria treatment bill (H.R.
5501) and U.S. Fire Administration Reauthorization bill (H.R. 4847).
SENATE FLOOR. The Senate convenes
today, however no votes are expected today.
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KEY HEARINGS AND MARKUPS
APPROPRIATIONS: The House Appropriations Subcommittee on Interior,
Environment and Related Agencies will hold a hearing on funding for the
arts: Tuesday, April 1 at 10:00 a.m., 2359 Rayburn Building.
AGRICULTURE: The House Appropriations
Subcommittee on Agriculture, Rural Development, FDA and Related Agencies
will hold hearings on FY 2009 appropriations for programs under its
jurisdiction: Tuesday, April 1 at 10:00 a.m.; Wednesday, April 2 at
11:00 a.m.; Thursday, April 3 at 10:00 a.m., all in 2362-A Rayburn
Building.
ARMED SERVICES: The House Appropriations
Subcommittee on Military Construction, Veterans Affairs and Related
Agencies will hold hearings on FY 2009 appropriations for programs under
its jurisdiction: Wednesday, April 2 at 1:30 p.m. and Thursday, April 3
at 1:30 p.m. and 10:30 a.m., both in H-143 Capitol Building.
COMMERCE: The House Appropriations
Subcommittee on Commerce, Justice, Science and Related Agencies will
hold hearings on FY 2009 appropriations for programs under its
jurisdiction: Tuesday, April 1 at 10:00 a.m. (2358-A Rayburn Building);
Wednesday, April 2 at 10:00 a.m. and 2:00 p.m. (H-309 Capitol Building);
Thursday, April 3 at 10:00 a.m. and 2:00 p.m. (2359 Rayburn Building).
The Senate Appropriations Subcommittee on Commerce,
Justice and Science will hold hearings on FY 2009 appropriations for
programs under its jurisdiction: Thursday, April 3 at 10:30 a.m., 138
Dirksen Building.
COMMUNICATIONS: The Senate Commerce,
Science and Transportation Committee will hold a hearing on the digital
television transition scheduled for February 17, 2009, focusing on
consumers, broadcasters, and converter boxes: Tuesday, April 8 at 2:30
p.m., 253 Russell Building.
DEFENSE: The Senate Appropriations
Subcommittee on Defense will hold hearings on FY 2009 appropriations for
programs under its jurisdiction: Wednesday, April 2 at 10:00 a.m., S-407
Capitol Building.
TRANSPORTATION & INFRASTRUCTURE: The
Economic Development, Public Buildings and Emergency Management
Subcommittee of the House Transportation and Infrastructure
Committee will hold a hearing on the practical impact of national
flood plain remapping: Wednesday, April 3 at 10:00 a.m., 2167
Rayburn Building.
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ENERGY & NATURAL RESOURCES: The Senate Energy and Natural Resources Committee
will hold a hearing on pending forest restoration legislation (S.
2593): Tuesday, April 1 at 2:30 p.m., 366 Dirksen Building.
The Senate Environment and Public Works Committee
will hold a hearing on greenhouse gas emissions and higher
education: Thursday, April 3 at 10:00 a.m., 406 Dirksen Building.
The National Parks Subcommittee of the Senate Energy
and Natural Resources Committee will hold a hearing on pending
national parks legislation (S. 1633, S. 1993, H.R. 2197, S. 2207, S.
2254, S. 2262, S. 2329, H.R. 2627, S. 2502, H.R. 3332, S. 2512, H.R.
3998): Wednesday, April 9 at 2:30 p.m., 366 Dirksen Building.
The House Oversight and Government Reform Committee
will hold a hearing on EPA’s new ozone standards: Thursday, April 10
at 10:00 a.m., 2154 Rayburn Building.
HEALTH: The Health Subcommittee of the House Energy and
Commerce Committee will hold a hearing on H.R. 5163, which would
block proposed new Medicaid regulations: Wednesday, April 3 at 10:00
a.m., 2123 Rayburn Building.
HOMELAND SECURITY: The Emerging Threats, Cybersecurity and Science and
Technology Subcommittee of the House Homeland Security Committee
will hold a hearing titled, “The Future of Science and Technology at
the Department of Homeland Security”: Tuesday, April 1 at 2:00 p.m.,
311 Cannon Building.
LABOR: The Employment and Workplace
Safety Subcommittee of the Senate Health, Education, Labor and
Pensions Committee will hold a hearing titled “Serious OSHA
Violations: Strategies for Breaking Dangerous Patterns”: Tuesday,
April 1 at 10:00 a.m., 430 Dirksen Building.
VETERANS: The Health Subcommittee of
the House Veterans’ Affairs Committee will hold a hearing on
post-traumatic stress disorder treatments and research: Tuesday,
April 1 at 10:00 a.m., 334 Cannon Building.
The Oversight and Investigations Subcommittee of the
House Veterans’ Affairs Committee will hold a hearing on traumatic
brain injuries and vision problems: Wednesday, April 2 at 10:00
a.m., 340 Cannon Building.
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