DRIVING THE WEEK:
- The House and Senate are in session this week.
- President Trump will release the Administration’s budget for FY19 today. Presidential budgets are greeted with a big yawn in Congress and this year’s submission is no different – especially given the culmination of the massive spending deal signed by the president last Friday. Two areas that will warrant a closer look in Congress: the Administration’s blueprints for defense spending and border security. While the president’s budget calls for over $3 T in spending cuts over 10 years, the budget will not be balanced.
- Trump will release his infrastructure plan today at 10 am with state and local officials at the White House. The proposal aims to leverage $200 B in federal dollars with state and local and private sector funding over 10 years and is being met with skepticism on and off Capitol Hill. We'll have more on this as legislators weigh in on aspects of the proposal that can muster support in Congress. The Administration's framework here.
- Immigration policy will be on tap with long-awaited consideration of a number of proposals. In the Senate, Majority Leader Mitch McConnell will introduce a “shell bill” and then proceed with open-ended debate. Then the fun begins. Senators – or groups of Senators - will then offer their versions of immigration legislation and it's likely debate will last all week and possibly bleed into next. We haven’t seen this in some time given McConnell’s disciplined approach to legislating and floor time. Senator Tom Cotton (R-AR) is expected to introduce legislation based on Trump’s four-pronged approach. Proposals garnering the support of 60 senators will become a part of the base bill and keep in mind that the only way for legislation to emerge from the Senate is if the final product meets the 60-vote threshold.
- On Tuesday, February 13 Trump will host Members of Congress for a discussion on trade issues.
- The Trump Administration's plan on CFIUS reform will receive a hearing on Capitol Hill on Friday and we’ll get a glimpse of how they intend to work with Congress to revamp the evaluation and national security impacts of mergers.
- The House Appropriations Committee will begin to carve up the funding among committees with last week’s two-year budget bill now the law of the land. It will require another bill by Congress on March 22.
ELEPHANT IN THE ROOM AS THE T/TWX Circus Comes to Town (T, TWX, FOXA): Questions about White House involvement in the DOJ challenge to the AT&T/Time Warner deal could color the ultimate outcome. Read the latest from our Telecom and Media Senior Analyst Paul Glenchur here.
WHAT PHARMA GIVETH DRUG PLANS TAKETH AWAY | SPENDING DEAL IMPACT ON PART D: AZN, ABBV, HUM, UNH, CVS: Emily Evans writes that changes to coverage gap most significant provision and puts beneficiary cost ahead of other considerations, including good policy. Read her note here.
Tuesday, February 13, 2018
HOUSE
SENATE
Intelligence | Hearings to examine worldwide threats.
Armed Services | Closed hearings to examine the United States Special Operations Command in review of the Defense Authorization Request for fiscal year 2019 and the Future Years Defense Program.
Budget | Hearings to examine the President's proposed budget request for fiscal year 2019.
Health, Education, Labor, and Pensions | Hearings to examine improving animal health, focusing on reauthorization of Food and Drug Administration Animal Drug User Fees.
Armed Services: Subcommittee on Cybersecurity | Hearings to examine the Department of Defense's role in protecting democratic elections.
Wednesday, February 14, 2018
HOUSE
Committee on Energy and Commerce | Subcommittee on Digital Commerce and Consumer Protection | Hearing: Oversight of the National Highway Traffic Safety Administration 2018
Committee on Education and the Workforce | Subcommittee on Early Childhood, Elementary, and Secondary Education | Hearing: “Examining the Government’s Management of Native American Schools”
Committee on Armed Services|Hearing: The Military and Security Challenges and Posture in the Indo-Pacific Region
Committee on Foreign Affairs |Hearing: Modernizing Food Aid: Improving Effectiveness and Saving Lives
Committee on Financial Services | Financial Institutions and Consumer Credit | Hearing: Hearing entitled “Examining the Current Data Security And Breach Notification Regulatory Regime”
Committee on Science, Space, and Technology | Subcommittee on Oversight | Hearing: Beyond Bitcoin: Emerging Applications for Blockchain Technology
Committee on Energy and Commerce | Subcommittee on Oversight and Investigations |Hearing: Examining the Impact of Health Care Consolidation
Committee on Small Business |Hearing: Job Creation, Competition, and Small Business’ Role in the United States Economy
Committee on Energy and Commerce | Subcommittee on Environment | Hearing: New Source Review Permitting Challenges for Manufacturing and Infrastructure
Committee on Financial Services | Capital Markets, Securities, and Investment | Hearing: Hearing entitled “Legislative Proposals Regarding Derivatives”
Committee on Natural Resources | Hearing: Oversight Hearing, "The State of the Nation’s Water and Power Infrastructure"
SENATE
Commerce, Science, and Transportation | Hearings to examine the nominations of Joseph Simons, of Virginia, Christine S. Wilson, of Virginia, Noah Joshua Phillips, of Maryland, and Rohit Chopra, of New York, each to be a Federal Trade Commissioner.
Judiciary | Hearings to examine pending nominations.
Finance | Hearings to examine the President's proposed budget request for fiscal year 2019.
Armed Services Committee | Subcommittee on Readiness and Management Support | Hearings to examine the current readiness of United States forces.
Thursday, February 15, 2018
HOUSE
Committee on Natural Resources| Hearing: Oversight Hearing, “The Costs of Denying Border Patrol Access: Our Environment and Security”
Committee on Oversight and Government Reform | Subcommittee on Government Operations |Hearing: General Services Administration Checking in with the Government's Acquisition and Property Manager
Committee on Homeland Security | Subcommittee on Cybersecurity and Infrastructure Protection Hearing | Industry Views of the Chemical Facility Anti-Terrorism Standards Program.
Committee on Financial Services | Hearing: Hearing entitled “Examining De-risking and its Effect on Access to Financial Services”
Committee on Armed Services | Hearing: Evolution Transformation and Sustainment: A Review and Assessment of the Fiscal Year 2019 Budget Request for U.S. Special Operations Forces and Command
SENATE:
Finance: Hearings to examine the President's proposed budget request for fiscal year 2019.
Agriculture, Nutrition, and Forestry | Hearings to examine the state of the Commodity Futures Trading Commission, focusing on pending rules, cryptocurrency regulation, and cross-border agreements.
Armed Services | Hearings to examine United States Northern Command and United States Southern Command in review of the Defense Authorization Request for fiscal year 2019 and the Future Years Defense Program.
Foreign Relations | Hearings to examine the nominations of Andrea L. Thompson, of South Dakota, to be Under Secretary for Arms Control and International Security, Susan A. Thornton, of Maine, to be an Assistant Secretary (East Asian and Pacific Affairs), and Francis R. Fannon, of Virginia, to be an Assistant Secretary (Energy Resources), all of Department of State.
