Senate. The Senate will, as always, consider nominations. Also on this week’s agenda is a vote to override President Biden’s veto of a resolution that would rescind the waiver that the Administration granted last year on “Buy America” requirements for electric vehicle chargers. The veto is expected to be upheld, with the vote falling short of the two-thirds majority needed for an override. A proposal that would address immigration and border policy could be unveiled in the coming days. The proposal is designed to be included in the supplemental spending bill for Israel, Ukraine, and Taiwan, but it is unclear whether the Senate will vote this week on that legislation.
House. Also unclear is how and when the full House will consider the tax package approved by the House Ways and Means Committee on Jan. 19. Even though the measure is on this week’s schedule, no further details have been provided. The measure is expected to be considered under suspension of the rules, which requires a two-thirds vote for approval, but Speaker Mike Johnson has not said yet how the House will proceed. Ways and Means Chairman Jason Smith (R-Mo.) will reportedly brief his fellow House Republicans tonight and tomorrow in an effort to drum up GOP support.
In addition to providing tax breaks to businesses, the tax bill would also expand the child tax credit (CTC). While the proposed changes won’t be in effect before the IRS tax filing season begins today, the legislation provides that the IRS can act on its own to provide CTC refunds to taxpayers if the law is changed after they file their returns. On Friday, IRS Commissioner Danny Werfel noted that “if there is a change to the law that means, for example, they would get an additional or an increased credit, we will handle that at the IRS.”
Spending Bills. Senate Appropriations Chair Patty Murray (D-Wash.) and House Appropriations Chair Kay Granger (R-Tex.) reached an agreement Friday on the spending amounts that the Appropriations subcommittees will use to draft the 12 spending bills for FY 2024. The allotments, known as the 302(b)s, were not released and aren’t expected to be publicly known until the bills are finalized.
Committee Action of Note
Tuesday, January 30
Wednesday, January 31
Thursday, February 1