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Legislative Update

Senate. In addition to considering nominations, the Senate will vote on whether to override the President’s veto of a resolution that would roll back EPA rules dealing with emissions from heavy-duty trucks. The override attempt is likely to fall short of the two-thirds majority needed for approval. The Senate could also vote on a House-passed resolution that would repeal rules subjecting certain pistols with stabilizing braces to the same regulations as short-barreled rifles. If the measure makes its way to the President’s desk, it will be vetoed. A vote to approve a tax treaty with Chile is also possible this week.

At the end of the week, both the Senate and House will begin their two-week Fourth of July recess, returning to session the week of July 10.

House. In other veto news, the House could vote on overriding the President’s veto of a resolution blocking the Administration’s student debt relief plan. The vote is expected to fall short of the two-thirds majority needed for approval. Among other items on the House agenda is legislation that would undo recent increases by the Federal Housing Finance Agency to the fee structures of single-family home mortgages guaranteed by Fannie Mae and Freddie Mac. Also on the schedule is legislation combining four bills giving employers more options to provide health insurance that doesn’t have to meet certain coverage rules. In addition, the House plans to pass bipartisan legislation that would approve the June 1 trade agreement between the U.S. and Taiwan and establish Congressional consultation requirements for future trade deals. On Thursday, a joint meeting of Congress will hear from Prime Minister Narendra Modi of India.

Appropriations. House and Senate appropriators are moving forward on FY 2024 spending bills with different top-line numbers for non-defense spending. Both chambers will be using the $886.3 billion number for defense that was included in the debt limit deal and the Senate will use the $704 billion in the debt limit deal for non-defense, but the House plans to write non-defense bills that are lower than the deal’s cap and instead limit spending to FY 2022 totals. The House Appropriations Committee approved the allocations for each of the 12 subcommittees on Thursday, June 15, while their Senate counterparts plan to vote on those allocations this Thursday.

The Senate committee, which is hoping to clear all 12 bills before the August recess, is skipping subcommittee markups and going directly to the full committee for action. On Thursday, the panel plans to consider two bills – Agriculture/FDA and Military Construction/Veterans Affairs. The House Appropriations Committee, meanwhile, will mark up four bills this week – Homeland Security and Legislative Branch on Wednesday and Defense and Energy/Water Development on Thursday. Also on Thursday, there will be subcommittee consideration of the Financial Services bill.

Committee Action of Note

Wednesday, June 21

  • Senate Banking, Housing and Urban Affairs Committee Hearing to review nominations of The Honorable Philip Jefferson, nominee for Vice Chair of the Federal Reserve; The Honorable Lisa D. Cook, nominee for Governor of the Federal Reserve; and The Honorable Adriana Kugler, Nominee for Governor of the Federal Reserve
  • Senate Banking, Housing and Urban Affairs Committee Markup of “Recovering Executive Compensation Obtained from Unaccountable Practices Act”
  • Senate Health, Education, Labor and Pensions Committee Markup of various measures
  • Senate Budget Committee Hearing: “Dollars and Degrees: Investigating Fossil Fuel Dark Money’s Systemic Threats to Climate and the Federal Budget”
  • House Oversight and Accountability Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs Hearing: “Clearing the Air: Examining the Environmental Protection Agency’s Proposed Emissions Standards”
  • House Homeland Security Subcommittee on Counterterrorism, Law Enforcement, and Intelligence Hearing: “Countering Threats Posed by Nation-State Actors in Latin America to U.S. Homeland Security”
  • House Financial Services Committee Hearing: “The Federal Reserve’s Semi-Annual Monetary Policy Report” with Federal Reserve Board Chairman Jerome Powell
  • House Armed Services Committee Markup: H.R. 2670 – National Defense Authorization Act for FY 2024; and H.R. 1282 – Major Richard Star Act
  • House Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions Hearing: “Competition and Transparency: The Pathway Forward a Stronger Health Care Market”
  • House Energy and Commerce Subcommittee on Communications and Technology Hearing: “Oversight of the Federal Communications Commission”
  • House Oversight and Accountability Subcommittee on Government Operations and the Federal Workforce Hearing: “Please Leave Your Message at the Tone: Addressing Post-Pandemic Backlogs and Delays at Federal Agencies”
  • House Appropriations Committee Markup of Homeland Security and Legislative Branch spending bills

Thursday, June 22

  • Senate Banking, Housing and Urban Affairs Committee Hearing: “The Semi-Annual Monetary Policy Report to the Congress” with Federal Reserve Chairman Jerome Powell
  • House Financial Services Subcommittee on Oversight and Investigations Hearing: “Oversight of the SEC” with SEC Chairman Gary Gensler
  • House Financial Services Committee Subcommittee on Capital Markets Hearing: “Oversight of the SEC’s Division of Trading and Markets”
  • House Transportation and Infrastructure Subcommittee on Water Resources and Environment Hearing: “Review of Fiscal Year 2024 Budget Request: Agency Perspectives (Part I)”
  • House Homeland Security Subcommittee on Cybersecurity and Infrastructure Protection Hearing: “Growing the National Cybersecurity Talent Pipeline”
  • House Budget Committee Hearing: “Reigniting American Growth and Prosperity Series: Incentivizing Economic Excellence Through Tax and Trade”
  • House Science, Space and Technology Committee Hearing: “Artificial Intelligence: Advancing Innovation Towards the National Interest”
  • House Oversight and Accountability Subcommittee on Cybersecurity, Information Technology, and Government Innovation Hearing: “Using Cutting-Edge Technologies to Keep America Safe”
  • House Judiciary Subcommittee on Responsiveness and Accountability to Oversight Hearing: Compliance with Committee Oversight
  • House Energy and Commerce Subcommittee on Oversight and Investigations Hearing: “MACRA Checkup: Assessing Implementation and the Challenges that Remain for Patients and Doctors”
  • House Appropriations Committee Markup of Defense and Energy and Water Development spending bills
  • House Appropriations Subcommittee on Financial Services Markup of FY 2024 spending bill
  • Senate Appropriations Committee Markup of Agriculture/FDA and Military Construction/VA spending bills and 302(b) subcommittee allocations

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