THE WEEK AHEAD
The Senate convened at 2:00 p.m. today. The Senate is expected to spend most of the week on small business lending legislation and a bill to extend unemployment benefits, and the supplemental war spending bill.
The Senate will resume consideration
of the Small Business Lending Fund Act (H.R. 5297), which includes
approximately $12 billion in tax cuts to promote small business
growth and job creation. The legislation also includes an increased
deduction limit for small business start-up costs and would double
the maximum amount that taxpayers would be allowed to write off in
capital expenditures. Senate leadership has indicated the
measure should be completed during the July 19 week.
At 10:00 a.m. on July 20, Carte Goodwin is
scheduled to be sworn in to fill the seat of the late Senator Robert
Byrd (D-W. Va.). Later that day, the Senate is set to take up
unemployment extension legislation as the result of a unanimous
consent agreement reached on July 15.
The House convened at 2:00 p.m. today for legislative business and to take up 5 measures under suspension of the rules. Tuesday, and for the balance of the week, the House is set to take up 23 measures under suspension of the rules and two measures subject to a rule.
The House will most of the July 19 week debating
two measures related to the Deepwater Horizon oil spill, the Federal
Oil Spill Research Program Act (H.R. 2693) and the Safer Oil and
Natural Gas Drilling Technology Research and Development Act (H.R.
5716). H.R. 2693 would create the Federal Oil Spill Research
Committee, which would be tasked with developing a research and
development program for oil pollution and report to Congress on the
status of oil spill prevention and response capabilities, and
contains a provision that would require the National Oceanic and
Atmospheric Administration to offer completive grants to researchers
for the development of technologies designed to prevent, detect, or
stop oil spills. The legislation dealing with drilling
technology would encourage research into safety and accident
prevention at deepwater drilling sites. The House Science
Committee approved both bills during a July 15 business meeting.
The House could also consider a bill that would
reform the National Flood Insurance Program, and unemployment
extension legislation, depending on Senate action.
KEY HEARINGS & MARKUPS
Agriculture:
The Senate Agriculture, Nutrition and Forestry Committee will hold
hearings on the reauthorization of farm programs.
Wednesday, July 21 at 9:30 a.m., G-50 Dirksen Building.
The Livestock, Dairy and Poultry Subcommittee of the House
Agriculture Committee will hold a hearing to review livestock and
related programs in the 2012 Farm Bill.
Tuesday, July 20 at 1:00 p.m., 1300 Longworth Building.
The Rural Development, Biotechnology, Special Crops, and Foreign
Agriculture Subcommittee of the House Agriculture Committee will
hold a hearing to review rural development programs in the 2012
Farms Bill.
Tuesday, July 20 at 10:00 a.m., 1300 Longworth Building.
The Horticulture and Organic Agriculture Subcommittee of the House
Agriculture Committee will hold a hearing to review specialty crop
and organic agriculture programs in the 2012 Farm Bill.
Wednesday, July 21 at 10:00 a.m., 1300 Longworth Building.
The General Farm Commodities and Risk Management Subcommittee of the
House Agriculture Committee will hold a hearing to review the state
of the crop insurance industry.
Thursday, July 22 at 9:30 a.m., 1300 Longworth Building.
APPROPRIATIONS:
The House Appropriations Committee will mark up draft legislation
that would make fiscal 2011 appropriations for the Department of
Transportation and the Department of Housing and Urban Development.
Tuesday, July 20 at 3:00 p.m., 2359 Rayburn Building.
The House Appropriations Committee will mark up draft legislation
that would make fiscal 2011 appropriations for the Department of
Veterans Affairs and military construction projects.
Tuesday, July 20 at 3:00 p.m., 2359 Rayburn Building.
Tuesday, July 20 at 10:00 a.m., 538 Dirksen Building.
The Senate Banking, Housing and Urban Affairs Committee will hold a
hearing to receive the semiannual monetary policy report of the
Federal Reserve Board.
Wednesday, July 21 at 10:00 a.m., G-50 Dirksen Building.
ENERGY AND COMMERCE:
The Senate Commerce, Science and Transportation Committee will hold
a hearing titled “Safe Port Act Reauthorization: Securing Our
Nation’s Critical Infrastructure”.
Wednesday, July 21 at 2:30 p.m., 253 Russell Building.
The Oceans, Atmosphere, Fisheries, and Coast Guard Subcommittee of
the Senate Commerce, Science and Transportation Committee will hold
a hearing titled “Turning Ideas Into Action: Ensuring Effective
Cleanup and Restoration in the Gulf”.
Wednesday, July 21 10:00 a.m., 253 Russell Building.
The Senate Commerce, Science and Transportation Committee will mark
up pending legislation concerning spectrum reallocation, oil spill
response, maritime law, and the America Competes bills.
Thursday, July 22 at 2:30 p.m., 253 Russell Building.
The Senate Energy and Natural Resources Committee will mark up
pending legislation.
Wednesday, July 21 at 9:30 a.m., 366 Dirksen Building.
The Health Subcommittee of the House Energy and Commerce Committee
will hold a hearing on pending public health bills.
Thursday, July 22 at 10:00 a.m., 2322 Rayburn Building.
ENVIRONMENT & PUBLIC WORKS:
The Clean Air and Nuclear Safety Subcommittee of the Senate
Environment and Public Works Committee will hold a hearing titled
“Oversight: EPA;s Proposal for Federal Implementation Plans to
Reduce Interstate Transport of Fine Particulate Matter and Ozone”.
Thursday, July 22 at 10:00 a.m., 406 Dirksen Building.
FINANCE:
The Senate Finance Committee will hold a hearing titled “An Update
on the TARP [Troubled Asset Relief Program] Program”.
Wednesday, July 20 at 2:30 p.m., 419 Dirksen Building.
HOMELAND SECURITY:
The Senate Homeland Security and Governmental Affairs Committee will
hold a hearing titled “Chartering a Path Forward: the Homeland
Security Department’s Quadrennial Homeland Security Review and
Bottom-Up Review”.
Wednesday, July 21 at 10:00 342 Dirksen Building.
The State, Local and Private Sector Preparedness and Integration
Subcommittee of the Senate Homeland Security and Governmental
Affairs Committee will hold a hearing titled “A Review of Disaster
Medical Preparedness: Improving Coordination and Collaboration in
the Delivery of Medical Assistance During Disasters”.
Thursday, July 22 at 10:00 a.m., 342 Dirksen Building.
JUDICIARY:
The Senate Judiciary Committee will hold a hearing titled “The
Second Chance Act: Strengthening Safe and Effective Community
Reentry”.
Wednesday, July 21 at 2:30 p.m., 226 Dirksen Building.
VETERANS AFFAIRS:
The Senate Veterans’ Affairs Committee will hold a hearing titled
“Improvements to the Post-9/11 GI Bill”.
Wednesday, July 21 at 9:30 a.m., 418 Russell Building.
APPROPRIATIONS BILLS MOVE FORWARD DESPITE CLEAR BUDGET PATH
Both House and Senate appropriators continued to move forward last week marking up spending legislation within their committees. Democrats have opted for a one year budget resolution in the House rather than the customary 5 year resolution. Senate Democrats are considering doing the same.
In subcommittees, House appropriators marked-up spending bills for Energy-Water; Military Construction-VA; and Labor-HHS-Education. Additional information about the bills (earmarks and spending tables) can be found on the House appropriations website: http://appropriations.house.gov/
The Senate Appropriations Committee set the
spending caps for the 12 annual bills. Overall, the Committee
will cut $14 billion from Obama’s budget request to reach a $1.114
trillion limit on discretionary spending. However, the
Committee’s Republicans wanted to further reduce spending $6 billion
to a cap of $1.108 trillion.
WAR SUPPLEMENTAL REMAINS IN LIMBO
Congress continues to struggle to pas the war
supplemental spending bill (HR 4899). Before the July 4 recess
the House passed the bill and added roughly $23 billion in domestic
spending for schools and other items. But quite a few Senators
are refusing to support the bill’s added spending.
Adding pressure to the situation is the dire
warning from Defense Secretary Gates that funding for troops is
needed by the end of the month. Typically, war supplemental
bills are completed by Memorial Day. Furthermore, President
Obama has issued a veto threat against the House version. He
is opposed to Chairman Obey’s move to rescind $800 million from
education programs favored by the President. Obey pulled the
$800 million to offset the $10 billion he wants to use to prevent
teacher layoffs.
Next week, Senate Majority
Leader Reid is reportedly ready to bring the $82 billion House
version to the Senate floor knowing that it won’t likely get past
the 60-vote hurdle. If the House bill fails Senators will have
more leverage to insist upon the narrower and less-costly war
supplemental ($58.8 billion) they adopted back in May.
Senator Harry Reid (D-NV) and Representative Dean Heller (R-NV) have introduced companion two bills in the Senate and House respectively that would both help move stalled existing renewable energy projects as well as remove obstacles to projects not yet begun.
The first bill creates a new competitive pilot program that would lease public lands to private companies for solar and wind energy projects. Currently, federal land is leased on a first-come, first-served basis. The bill would require projects to compete for land use. If successful, the pilot program would serve as a model for a future program governing the use of federal land.
The bill also specifies how royalties from the use of public lands would be collected and allocated. Local and county governments would be given 25 percent of the royalties collected by the federal government. Of the remaining 75 percent, a "major share" of the funds would be spent on fish and wildlife conservation.
The second bill would provide for a loan program for companies wishing to explore "high-risk" geothermal projects. In exchange for funds, companies would be required to share geothermic data with the Energy Department.
SENATE PASSES FINANCIAL REGULATORY REFORM LEGISLATION
This week, the Senate adopted the conference report for the financial industry regulations overhaul (HR 4173). The final vote was 60 to 39. Republican Senators Scott Brown of Massachusetts, and Olympia Snowe and Susan Collins from Maine sided with the Democrats in passing the bill. The only Democrat to vote against the legislation was Senator Russ Feingold of Wisconsin, who called the legislation too weak. The House adopted the conference report before the July 4 recess. The measure now goes to President Obama for his signature.
“It’s a tremendous plus,” said Senate Majority Leader Harry Reid (D-NV). “States have been battered by this financial crisis, and everyone knows what happened. It’s because of Wall Street.”
Among other things, the bill would create a new government body to identify and assess threats to the economy by large financial institutions. The body would have the authority to subject companies to new regulations, or if the company posed a great threat, break the company up as a last resort. The bill also places greater regulations on derivatives and creates a new consumer protection agency within the Federal Reserve.
The Nevada Weekly is published when Congress is in session.
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