PSW Weekly Round-Up - 3/2

Legislative Update

Senate. The first item on the Senate's agenda this week is a procedural vote tonight on the Housing for the 21st Century Act. The bill, which passed the House Feb. 9, will be a vehicle for the Senate's housing package, which is not expected to include all of the House provisions, such as those dealing with community banking, and will add new proposals. On Tuesday, the Senate is expected to vote on a war powers resolution directing the President to remove U.S. forces from unauthorized hostilities in Iran.

House. The House vote on the war powers resolution is likely on Thursday. Even if the measure were to pass both chambers (and 51 votes in the Senate may not be possible), it would need the support of two-thirds of members to overcome a presidential veto. Also this week, the House has postponed consideration of two immigration-related measures and instead will take up its Homeland Security funding bill with a small change necessitated because one provision has already been enacted. Regardless of House action, the impasse continues between the White House and Democrats over proposals dealing with ICE agents. Among other impacts of the funding stalemate, TSA officers are set to miss full paychecks later this week.

Committee Action of Note

Tuesday, March 3

• House Rules Committee meeting to formulate a rule on H.R. ____ – Department of Homeland Security Appropriations Act, 2026
• House Agriculture Committee markup: “To consider H.R. 7567, the Farm, Food, and National Security Act of 2026”
• Senate Judiciary Committee hearing: “Oversight of the Department of Homeland Security” with Secretary Kristi Noem
• Senate Armed Services Committee hearing (open/closed): “To receive an update on the National Defense Strategy”
• Senate Commerce, Science, and Transportation Subcommittee on Science, Manufacturing, and Competitiveness hearing: “Less Hype, More Help: AI That Improves Safety, Productivity, and Care”

Wednesday, March 4

• House Ways and Means Committee hearing with Internal Revenue Service Chief Executive Officer, Frank J. Bisignano
• House Armed Services Committee hearing: “Speed to Scale: Revitalizing the Defense Industrial Base”
• House Financial Services Committee markup on various measures including:
• H.R. 4171, the Small Entrepreneurs’ Empowerment and Development (SEED) Act of 2025
• H.R. 6955, the Main Street Capital Access Act
• H.R. 7127, the Restoring the Secondary Trading Market Act
• H.R. 7688, the DPA Modernization Act of 2026
• House Judiciary Committee hearing: “Oversight of the Department of Homeland Security” with Secretary Kristi Noem
• House Education and Workforce Subcommittee on Higher Education and Workforce Development hearing: “Building an AI-Ready America: Strengthening Employer-Led Training”
• House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies hearing: “U.S. Department of Agriculture, Trade and Foreign Agricultural Affairs” with Under Secretary Luke Lindberg
• House Foreign Affairs Committee markup on various measures including:
• H.R. 3447, To require standards with respect to chip security mechanisms for integrated circuit products.
• H.R. 7058, To require assessments of the risks posed to the U.S. by foreign adversaries who utilize generative AI for malicious activities.
• H.Res. 971, Condemning the coercive actions of China against Japan in response to statements regarding Taiwan and reaffirming the U.S. commitment to its allies in the Indo-Pacific region.
• H.R. 7674, To require the Secretary of State to submit to Congress a strategy to support a democratic transition in Venezuela.
• House Armed Services Subcommittee on Readiness hearing: “Energy, Installations, and Environment Hearing” for a programmatic update on military construction (MILCON), environmental programs, energy programs, base operations support (BOS), and facility sustainment, restoration, and modernization (FSRM) accounts.
• Senate Commerce, Science, and Transportation Committee markup to consider legislation including S.3923, to improve the weather research of the National Oceanic and Atmospheric Administration, support improvements in weather forecasting and prediction, and expand commercial opportunities for the provision of weather data
• Senate Environment and Public Works Committee hearing: “A Legislative Hearing to Examine a Discussion Draft, S.__ the Toxic Substances Control Act Fee Reauthorization and Improvement Act of 2026”

Thursday, March 5

• House Armed Services Committee hearing: “U.S. Defense Strategy and Posture”
• House Financial Services Subcommittee on Financial Institutions hearing: “Fighting Fraud on the Front Lines: Challenges and Opportunities for Financial Institutions”
• House Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies hearing: “Inspectors General for the Department of Transportation and the Department of Housing and Urban Development”
• House Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies hearing: “Member Day”
• House Appropriations Subcommittee on Interior, Environment, and Related Agencies hearing: “Interior, Environment, and Related Agencies — Member Day”
• House Financial Services Subcommittee on Capital Markets hearing: “The Role of Self-Regulatory Organizations in U.S. Markets: Examining FINRA and the MSRB”
• Senate Judiciary Committee markup to consider legislation including S.3798, to amend title 18, United States Code, to establish criminal offenses with respect to violations involving ATMs, regardless of whether the ATM is located on the physical premises of a financial institution

Tariff Update

Appeals Court Decision. A federal appeals court today ruled against the Trump administration's request to delay for 90 days the implementation of the Feb. 20 Supreme Court ruling that invalidated the President's reciprocal tariffs. The decision clears the way for the U.S. Court of International Trade to begin crafting a refund process for businesses that paid the tariffs. In a new report, "The Global Impact of the SCOTUS Decision on IEEPA Tariffs," the Center for Strategic and International Studies examines the tariffs' effects on various countries and key sectors.

Political Update

Texas Primaries. The two marquee races in the March 3 Texas primaries are the Republican and Democratic Senate races. On the Republican ballot, Senator John Cornyn is facing a challenge from Attorney General Ken Paxton and Rep. Wesley Hunt. If no candidate receives a majority, the runoff date is May 26. On the Democratic side, state Rep. James Talarico and Rep. Jasmine Crockett are vying for the nomination. In addition to the Senate races, observers are watching several House races where incumbents are in danger. Those include the seats now held by Republican Reps. Tony Gonzales and Dan Crenshaw and Democratic Reps. Al Green and Julie Johnson.

North Carolina Primaries. Tuesday is also primary day in North Carolina, where Rep. Valerie Foushee (D) has a competitive primary against Durham County Commissioner Nida Allam, who lost to Foushee in the 2022 primary.

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