CAPITAL BRIEF + GEOPOLITICAL CALL TODAY @ 10AM |  Crisis in the Middle East Continues - capitalbrief

ON THE SENATE FLOOR: The Senate had planned to take a procedural vote last night to limit debate on a shell bill that Majority Leader Chuck Schumer could use as a vehicle for a Senate version of the CR. However, late last night Schumer canceled the cloture vote and said that the Senate will now wait to see how the House proceeds on its version of the CR indicating momentum for Speaker Mike Johnson's staggered approach below.

IN THE HOUSE:  Continuing Resolution. The most pressing item on the House agenda this week is legislation to keep the government open after the current continuing resolution (CR) expires on Friday. Under the version of a new CR unveiled over the weekend by Speaker Johnson, two deadlines would be set. The bill would extend funding at current levels through January 19 for departments and agencies covered by four appropriations measures, Military Construction/VA, Agriculture/FDA, Energy and Water, and Transportation-HUD, and through February 2 for all other agencies. The proposal would also extend farm bill programs through September 30, 2024, retroactive to October 1 of this year; extend the National Flood Insurance Program through February 2.

The House plans to consider the CR today under a suspension of the rules - requiring two-thirds of the House (290) to approve and bypassing the House Rules Committee last night where the outcome was in doubt due to conservative opposition. Close to 40 Republicans have already made public their opposition to Johnson’s CR, so it's clear that Democrat votes will be needed to pass the measure. 

Appropriations: In addition to the CR, the House this week is planning to consider three individual appropriations bills for FY 2024. Two of the bills – Labor/HHS and Commerce/Justice/Science – didn’t have enough support to be approved by the House Appropriations Committee so Johnson is bringing them straight to the floor. The third is the Transportation/HUD spending bill that Republican leadership pulled from a final vote last week when it was apparent that the measure wouldn’t pass.  It’s questionable whether any of the three will pass this week. Last week, leadership also pulled the Financial Services/General Government bill before a floor vote, and in September, the Agriculture/FDA measure was defeated on a vote of 191-237, with 27 Republicans joining all Democrats in opposition. 

House Vacancies: Democrat Gabe Amo was swornin last night to fill the rest of Rep. David Cicilline’s (D-RI) term.  Amo won the November 7 special election to succeed Cicilline, who resigned in June. With Amo’s election, there are now 213 Democrats and 221 Republicans in the House, with one vacancy. That vacancy will be filled by a special election on November 21 in Utah to elect a successor to Republican Chris Stewart. Stewart’s former staffer Celeste Maloy is expected to prevail on the 21st, keeping the seat in Republican hands and bringing the Republican total back to 222. There will be another Democratic vacancy in February when Brian Higgins of New York plans to resign to reportedly become the president of Shea's Performing Arts Center in Buffalo. 

House Calendar: Majority Leader Steve Scalise last week released the House calendar for 2024, which can be found here.


COMMITTEE ACTION:

Tuesday, November 14

  • Senate Banking, Housing and Urban Affairs Committee Hearing: “Oversight of Financial Regulators: Protecting Main Street Not Wall Street” with Michael Barr, Vice Chair for Supervision, Federal Reserve; Martin Gruenberg, Chair of the Federal Deposit Insurance Corporation; and Michael Hsu, Acting Comptroller of the Currency
  • Senate Agriculture, Nutrition and Forestry Committee Hearing: “Innovation in American Agriculture: Leveraging Technology and Artificial Intelligence”
  • Senate Health, Education, Labor, and Pensions Committee Hearing: “Standing Up Against Corporate Greed: How Unions are Improving the Lives of Working Families”
  • Senate Finance Subcommittee on Health Care Hearing: “Ensuring Medicare Beneficiary Access: A Path to Telehealth Permanency”
  • Senate Environment and Public Works Subcommittee Hearing: “Challenges and Opportunities to Facilitate Wildlife Movement and Improve Migration Corridors”
  • House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation Hearing: “Guardians of the Sea: Examining Coast Guard Efforts in Drug Enforcement, Illegal Migration, and IUU Fishing”
  • House Judiciary Subcommittee on the Administrative State, Regulatory Reform, and Antitrust Hearing: “Oversight of the Department of Justice Antitrust Division”
  • House Financial Services Committee markup of various measures
  • House Natural Resources Subcommittee on Energy and Mineral Resources Hearing: “Examining the Biden Administration’s Abandoned Mine Lands and Active Mining Programs”
  • House Energy and Commerce Subcommittee on Environment, Manufacturing, and Critical Materials Hearing: “Clean Power Plan 2.0: EPA’s Effort to Jeopardize Reliable and Affordable Energy for States”
  • House Natural Resources Subcommittee on Water, Wildlife and Fisheries Hearing to consider pending legislation, including H.R. 5770 (Rep. Neguse), “Water Data Improvement Act”
  • House Natural Resources Subcommittee on Federal Lands Hearing to consider pending legislation, including:
    • H.R. 4235 (Rep. Kim of CA), “Wildfire Technology Demonstration, Evaluation, Modernization, and Optimization Act” or the “Wildfire Technology DEMO Act”
    • H.R. 5665 (Rep. Stansbury), “Promoting Accessibility on Federal Lands Act of 2023”
    • Discussion draft of H.R. ____ (Rep. Westerman),“Biochar Innovations and Opportunities for Conservation, Health, and Advancements in Research (BIOCHAR) Act"

Wednesday, November 15

  • Senate Foreign Relations Committee Hearing: “U.S. Leadership on Artificial Intelligence in an Era of Strategic Competition”
  • Senate Environment and Public Works Committee Hearing: “Opportunities in Industrial Decarbonization: Delivering Benefits for the Economy and the Climate”
  • House Homeland Security Committee Hearing: “Worldwide Threats to the Homeland”
  • House Financial Services Committee Hearing: “Oversight of Prudential Regulators”
  • House Foreign Affairs Subcommittee on Oversight and Accountability Meeting: “Reviewing the Bureau of Industry and Security, Part II: U.S. Export Controls in an Era of Strategic Competition”
  • House Judiciary Subcommittee on Immigration Integrity, Security, and Enforcement Hearing: “The Impact of Illegal Immigration on Social Services”
  • House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion Hearing: “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets” 

Thursday, November 16

  • House Foreign Affairs Committee markup on pending legislation:
    • H.R. ___, “To prohibit or require notification with respect to certain activities of United States persons involving countries or concern, and for other purposes”
    • H.R. 533, “To prohibit or require notification with respect to certain activities of United States persons involving countries or concern, and for other purposes”
    • H.R. 2766, “To support the human rights of Uyghurs and members of other minority groups residing primarily in the Xinjiang Uyghur Autonomous Region and safeguard their distinct identity, and for other purposes” 

CAPITAL BRIEF + GEOPOLITICAL CALL TODAY @ 10AM |  Crisis in the Middle East Continues - MadMadWorld 2022 NEW 2.0

Join our Washington chief J.T. Taylor and Hedgeye's geopolitical advisor Col. Jeffrey McCausland as they focus on the escalating war between Israel and Hamas now embroiling the Middle East. They will also cover growing unrest in the region, incursions by Hezbollah in the north - as well as the impact of the conflict on Ukraine. They'll also discuss where foreign and military aid for Israel and Ukraine stands in light of a potential government shutdown and continued dysfunction on Capitol Hill.  

***Please submit your questions in advance*** 

Today, november 14, 2023 at 10:00 AM

CLICK HERE for event details (includes video and materials link).

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