HOUSE TO EXTEND HIGHER EDUCATION ACT
The House is expected to pass another extension of the Higher Education Act in order to give additional time for negotiations to continue. House leaders are working to overhaul the law, something that has not been done in over a decade. The Higher Education Act governs federal support for colleges students.
FARM BILL ALMOST COMPLETE
Lawmakers are working this week to finish negotiations on the most controversial parts of the farm bill. One unresolved issue revolves around the payment of subsidies to wealthy farmers. The current congressional proposal prevents farmers making $750,000 from collecting subsidies. President Bush has threatened to veto any bill unless the threshold is $200,000. A separate obstacle is the total dollar amount of subsidies farmers can collect from the government annually.
HOUSE TO DEBATE FORECLOSURE ASSISTANCE BILL
The House Financial Services Committee approved a measure increasing government aid to homeowners struggling to pay their mortgage. The bill must now go to the full House for debate.
The bill provides for $300 billion in loan guarantees for borrowers. It would help those who struggle to make mortgage payments and cannot refinance because their home is worth less than their mortgage.
However, the bill must clear substantial hurdles in both the House and the Senate before it can be signed into law. Although the Bush administration has voiced objection to the bill, it has stopped short of threatening to veto it.
MEDICAID BILL STALLS IN THE SENATE
Senate Republicans blocked Majority Leader Harry Reid's attempt to push through legislation postponing new Bush administration Medicaid regulations. The measure passed overwhelmingly in House last week, but was slowed down by Senate Republicans who support the new regulations. Reid must now file a time consuming cloture petition before proceeding further. It remains to be seen if Reid will have time to bring the measure to a vote given other bills, such as the war funding bill, that demand more attention.
PRESIDENT EXPECTED TO SIGN STUDENT LOAN BILL
As parents and students begin to look for ways to finance the upcoming school year, Congress passed legislation last week to guarantee college students will have access to the loans necessary for their education. The bill would make more money available to students via federally backed loans. It would also allow the Department of Education to buy existing loans from lenders in order to inject liquidity into the market. The bill also provides for grants to low-income students that have good grades and are studying math and science. Though there have yet to be any problems with the student loan market, the rapid passage of the bill indicates the concern lawmakers have for the federally backed loan program and their desire to see that students and parents have access to the funds they need.
SOLAR ENERGY ENTREPRENEURS FLOCK TO NEVADA
As the price of oil and gas continues to rise, the government is turning to alternative forms of energy to power their cities. Federal lands in Nevada, California and Arizona are being rented to solar power companies willing to build and develop solar panels on the flat, desert lands. The goal of the Interior department is to produce 10,000 megawatts of electricity within ten years, which equals about 1 percent of the current U.S. capacity.
HOUSE TO TAKE UP DEFENSE AUTHORIZATION BILL
Six House Armed Services subcommittees will begin drafting a defense
authorization bill this week. The bill is expected to avoid any
provisions calling for a withdrawal of U.S. troops from Iraq.
Lawmakers are also expected to challenge the award of a $35 billion
contract for tanker aircraft to a U.S.-European consortium rather
than to the Chicago-based Boeing Co., and will likely offer
provisions to force a reopening of the bids. Furthermore, it is
expected that the subcommittees will include a rejection of White
House plans to raise health care costs for military families, will
raise the pay for military personnel and increase the amount of
money allocated for weapons programs and troop training.
