WASHINGTON WEEK AHEAD

CHECK IN: 1 day - until the Alabama Senate election 4 days - until the previously scheduled Christmas Congressional recess 4 days - until the end of year expirations (tax extenders, Medicare extenders, FISA) 4 days - until Republican leadership’s self-imposed tax timeline 11 days - until the new CR to fund the government and NFIP expire Looming: DACA, debt ceiling (December 8 expiration, extended to March with extraordinary measures), and Iran deal legislation deadline

THIS WEEK:

• The House and Senate are in session.
• The Chambers have selected their conferees to meet in Conference Committee. They are hammering out the differences in the House and Senate tax reform bills and plan to wrap up work by Friday with an eye on a vote early next week.
• Congress will also work on a long-term solution to government spending for FY18.
• HEDGEYE EVENT - Hedgeye’s policy team will host a round table on tax reform. Stay tuned for the details.

MONDAY, DECEMBER 11:

• Trump will hold a Space Policy Directive signing ceremony.
• The Senate will convene and resume consideration of the nomination of Leonard Steven Grasz to be U.S. Circuit Judge for the Eighth Circuit at 4:00 PM.
• The Senate Agriculture, Nutrition, and Forestry Committee will host a business meeting to consider the nomination of Stephen Alexander Vaden to be General Counsel of the Department of Agriculture at 5:45 PM.

TUESDAY, DECEMBER 12:

• The Alabama Senate election.
• Trump is expected to sign the National Defense Authorization Act for FY 2018.
• The House Committee on Financial Services is holding a markup on over a dozen bills that range from banking to mortgage regulation at 10:00 AM.
• The House Committee on Energy and Commerce is hosting a hearing on the Corporate Average Fuel Economy Program (CAFE) and greenhouse gas emissions standards at 10:00 AM and then will host a hearing to examine concerns of patient brokering and addiction treatment fraud at 10:15 AM.
• The House Committee on Foreign Affairs is hosting a hearing on the Future of the North American Free Trade Agreement (NAFTA) at 2:00 PM.
• The House Rules Committee will markup six bills ranging from Iran to oversight at 3:00 PM and the House Committee on Natural Resources will markup 16 energy and land bills at 5:00 PM.  
• The Senate Commerce, Science, and Transportation Committee will examine digital decision-making and artificial intelligence at 10:00 AM.
• The Senate Energy and Natural Resources Committee will host an oversight hearing to examine the permitting processes at the Department of the Interior and the Federal Energy Regulatory Commission at 10:00 AM.
• The Senate Health, Education, Labor, and Pensions Committee will examine the cost of prescription drugs at 10:00 AM.
• The Senate Judiciary will host an oversight hearing to examine the Ensuring Patient Access and Effective Drug Enforcement Act at 10:00 AM.

WEDNESDAY, DECEMBER 13:

• Trump plans to give his final speech on tax reform at the Treasury Department.
• The Federal Reserve will host a press conference on their December meeting at 2:00 PM.
• The tax reform Conference Committee will host a public hearing.
• The House Committee on Energy and Commerce will examine the drug supply chain at 10:00 AM.
• The House Committee on Oversight and Government Reform will host a hearing on the oversight of the Bureau of Prisons and Inmate Re-entry at 10:00 AM.
• The House Committee on Energy and Commerce will host a hearing on the future of North American Energy Trade at 10:15 AM.
• The Senate Health, Education, Labor, and Pensions Committee will host a business meeting to consider several nominations. The Judiciary Committee will consider several nominations at 10:00 AM.
• The Senate Environment and Public Works Committee will host an oversight hearing to examine the Nuclear Regulatory Commission at 10:00 AM.
• The Senate Health, Education, Labor, and Pensions Committee will examine the implementation of the 21st Century Cures Act, focusing on responding to mental health needs at 10:00 AM.

THURSDAY, DECEMBER 14:

• The FCC will vote on whether to repeal net neutrality rules.
• The House Committee on Financial Services will host a hearing entitled "Examining the Operations of the Committee on Foreign Investment in the United States (CFIUS)” at 10:00 AM.
• The House Natural Resources Committee will host a hearing on the Grand-Staircase Escalante national monument.
• The House Armed Services Committee will host a hearing to examine U.S. policy and strategy in the Middle East at 10:00 AM.
• The Senate Homeland Security and Governmental Affairs Committee will consider several nominations at 10:00 AM.

FRIDAY, DECEMBER 15:

• VEEP Mike Pence will leave Saturday for a trip to the Middle East.
• Friday is the last day of open enrollment for the Affordable Care Act for 2018.

JUDGE SETS THE DATE FOR AT&T/TIME WARNER SHOWDOWN (T, TWX): Our Senior Telecom Analyst Paul Glenchur wrote the judge emphasized he cannot wrap the case up by the April 22 expiration date and he urged the parties to extend the agreement. Read the full piece here.

NEW FERC CHIEF DELAYS CONSIDERATION OF DOE PROPOSAL TO AID COAL & NUCLEAR: Our Senior Energy Analyst Joe McMonigle writes that it is likely to take longer than a 30-day extension to get consensus among commissioners so we expect a final decision later next Spring. Read the full piece here.

REPLAY: SIZZLE, OR FIZZLE? FINANCIALS TAKEAWAYS FROM THE HOUSE AND SENATE TAX PLANS: Hedgeye’s Financial Services team featuring Josh Steiner and Jonathan Casteleyn hosted a presentation on the latest implications of the tax reform proposals on the Financials sector. Get the replay here.

REPLAY: TAX REFORM FOR INDUSTRIALS & MATERIALS SECTOR (CAT, DE, TSLA, UAL, TXT, USG/VMC, APD, ETC): Hedgeye’s Industrials & Materials team with Jay Van Sciver hosted a black book presentation on tax reform. Get the replay here.

CALL INVITE - TUESDAY | LONG TDOC | PICKING SIDES: Hedgeye’s health team with Policy Analyst Emily Evans is hosting a call on Tuesday, December 12th at 10:00 AM ET to review our long thesis on Teladoc (TDOC). Get the event details here.

Our Catalyst Calendar contains major policy dates and deadlines in Washington in addition to Hedgeye’s policy events. We will be updating the calendar as information changes and new dates are put on the books. YOU CAN FIND ITHERE and on our website.