PSW Weekly Round-Up - 6/22

Legislative Update

Senate. The Senate is planning to vote this evening on bipartisan legislation designed to boost the nation’s housing supply. The wide-ranging legislation, which now has the support of House Financial Services Committee leaders, is expected to easily clear the Senate. Among other things, the measure would prevent large institutional investors from buying single-family homes, but it drops an earlier proposal that would have required those institutional investors to sell newly built rental houses to individuals within seven years. At the end of the week, the Senate is scheduled to recess until July 13.

House. Following expected Senate passage, the House could take up the housing measure this week under suspension of the rules, requiring a two-thirds majority for passage. Also on the agenda is consideration of two FY 2027 appropriations bills – the Energy and Water Development bill and the National Security and Department of State bill. The House Appropriations Committee, meanwhile, will mark up its last remaining bill – the Defense funding measure – on Wednesday.

Senate Appropriations. Four FY 2027 spending bills are scheduled for markup on Thursday in the Senate Appropriations Committee – Agriculture-FDA, Military Construction-Veterans Affairs, Commerce-Justice-Science, and Legislative Branch. Appropriations Chair Susan Collins (R-Maine) scheduled the markup despite the fact that she and Ranking Member Patty Murray (D-Wash.) have been unable to agree on a top-line spending number. The main point of contention is that Democrats want the defense number to be lower than the President’s $1.15 trillion appropriations request and want an increase in the President’s requested level for non-defense spending.

Committee Action of Note:

Tuesday, June 23

• House Rules Committee meeting to formulate a rule on legislation including:
  • H.R. 8595 – National Security, Department of State, and Related Programs Appropriations Act, 2027
  • H.R. 9022 – Energy and Water Development and Related Agencies Appropriations Act, 2027
• Senate Banking, Housing, and Urban Affairs Committee Hearing: "The Affordability Agenda."
• Senate Armed Services Committee Hearing: "Open/Closed: To receive an update on the F-35 aircraft program."

Wednesday, June 24

• House Appropriations Committee Markup of FY 2027 Defense Bill
• House Financial Services Committee Hearing: “Future of Payments: Promoting Innovation and Fair Markets”
• House Energy and Commerce Subcommittee on Environment Hearing: “Trash to Treasure: Examining Legislation to Support Domestic Critical Mineral Recovery and Recycling”
• House Energy and Commerce Markup of legislation including:
  • “Ratepayer Protection Act”
  • “Protecting Families from AI Data Center Energy Costs Act”
  • “Load Forecasting Enhancement Act”
  • “Affordable Innovation for the Grid Act”
  • “Advanced Transmission Technology to Reduce Rates Act”
  • “High-Capacity Grid Act”
• Senate Judiciary Subcommittee on the Constitution Hearing: "Protecting American Citizenship IV: America 250 and Reclaiming American Citizenship."
• Senate Finance Committee Hearing: "The Future of Social Security."

Thursday, June 25

• House Natural Resources Subcommittee on Energy and Mineral Resources Hearing: "Beneath the Surface: Earth MRI and America's Resource Potential"
• House Appropriations Subcommittee on Homeland Security Hearing: Oversight Hearing – Department of Homeland Security with Secretary Markwayne Mullin
• House Oversight and Government Reform Subcommittee on Delivering on Government Efficiency Hearing: "Combating Waste, Fraud, and Abuse in SNAP"
• House Financial Services Subcommittee on Capital Markets Hearing: "From Wall Street to Main Street: The Future of How America Invests"
• House Agriculture Subcommittee on Forestry and Horticulture Hearing: "Reviewing Partnerships to Enhance Management of the National Forest System"
• Senate Appropriations Committee Markup to consider:
  • Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2027
  • Military Construction, Veterans Affairs, and Related Agencies Appropriations Act, 2027
  • Commerce, Justice, Science, and Related Agencies Appropriations Act, 2027
  • Legislative Branch Appropriations Act, 2027
• Senate Judiciary Committee Markup to consider pending calendar business

Tariff Update

German Pharmaceuticals. On June 18, the U.S. Trade Representative launched an investigation into Germany’s drug pricing structure. The investigation, under Section 301 of the Trade Act of 1974, is aimed at determining “whether persistent underpayment for innovative pharmaceutical products by Germany is unreasonable or discriminatory and burdens or restricts U.S. commerce.” The investigation comes after Germany announced plans in April to save billions of dollars a year by requiring drugmakers to offer bigger discounts on medicines.

Political Update

June 23 Elections. Maryland, New York, and Utah will hold primaries Tuesday, while South Carolina will hold runoff races in two Congressional districts.

Two hotly contested Congressional primaries will be decided Tuesday in Maryland. In the 6^th District, incumbent Democratic Rep. April McClain Delaney is facing a challenge from former Rep. David Trone, who held the seat until he gave it up in an unsuccessful 2024 Senate primary bid. In the 5^th District race to succeed Democratic Rep. Steny Hoyer, 23 candidates are on the ballot, including Prince George’s County state Delegate Adrian Boafo, who has Hoyer’s endorsement.

In New York, the retirements of Democratic Reps. Jerry Nadler in the 12^th District and Nydia Velazquez in the 7^th District have led to crowded fields to replace them. In the 19^th District, Rep. Dan Goldman (D) is facing a strong challenge from former City Councilman Brad Lander, who has the backing of New York City Mayor Zohran Mamdani. Mamdani has also thrown his support to another challenger, backing Darializa Avila Chevalier over incumbent Rep. Adriano Espaillat (D) in the 13^th District.

In Utah, redistricting has created a Democratic-leaning 1^st District, with former Rep. Ben McAdams (D) leading in most polls for the Democratic nomination. In the 2^nd and 3^rd Districts, Republican Reps. Blake Moore and Celeste Maloy, respectively, have primary challengers.

In South Carolina, both parties will have runoff elections for the 1^st District seat now held by Rep. Nancy Mace (R), who ran for governor. In the 2^nd District, Democrats will choose a challenger to incumbent Rep. Joe Wilson (R).

June 27 Runoff. On Saturday, attention will be focused on the Republican runoff in Louisiana for Senate, pitting Rep. Julia Letlow against state Treasurer John Fleming. While Democrats will also have a runoff to choose their nominee, the winner of the Republican race is expected to win the seat of Senator Bill Cassidy (R), who came in third in the May 16 primary.

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