DRIVING THE WEEK:
- The Senate is expected vote midweek after a measure that would roll back some Dodd-Frank regulations was pushed back a week after Democrats and Republicans failed to reach a deal on which amendments will get a vote. New language in the legislation includes a clarifying provision that would allow the Federal Reserve to strictly oversee foreign banks that maintain significant operations in the U.S. Lawmakers also expanded the bill to deal with issues like identity fraud, commercial real estate lending and student loans. The bill’s exemption from tougher regulatory oversight for banks with assets between $50 billion and $250 billion would make the small probability of bailouts "slightly greater" than under the status quo according to the non-partisan Congressional Budget Office. We're hosting a call on the Senate bill and prospects for a compromise with the House on Thursday, March 15 at 1:30pm.
- On Tuesday, a high stakes special election will be held in Pennsylvania’s 18th Congressional District with repercussions for the November midterm elections. In a district President Trump won by 20 points, polls are showing the race between Republican Rick Saccone and Democrat Conor Lamb in a dead heat. To illustrate the short-term significance to both parties, an unprecedented $13 million has been spent to date on a seat that will not exist after November as a result of redistricting.
- Trump will depart for San Diego, California on Tuesday to tour prototypes of the border wall with Mexico. Trump will leave for Missouri on Wednesday to where he’ll be hosting a roundtable discussion on tax reform at a Boeing plant in St. Louis, Missouri.
- With a deadline of March 23, the House is currently expected to consider and pass the $1.3 trillion FY18 Omnibus spending bill later in the week. The legislation is likely to be the last must-pass legislative vehicle for the year and a scramble is underway to attach other priority measures favored by legislators. Over the weekend, House Freedom Caucus members floated a policy rider impacting funding for sanctuary cities – a deal killer for Democrats who are needed to pass the measure.
- Congressional Democrats are proposing to increase the corporate tax rate to 25 percent, from its current level of 21 percent, as part of a broader plan to repeal elements of last year's tax law to pay for infrastructure investment. The proposal isn't likely to become law but is a sign of how Democrats will try to frame the tax debate on the campaign trail this year and does not address other components of the tax law like its limitation on the state and local tax deduction.
Monday, March 12, 2018
Committee on Oversight and Government Reform | Subcommittee on the Interior, Energy, and Environment | Hearing: The Historic 2017 Hurricane Season: Impacts on the U.S. Virgin Islands
Committee on Health, Education, Labor, and Pensions | Business meeting to consider the nominations of John F. Ring, of the District of Columbia, to be a Member of the National Labor Relations Board, Frank T. Brogan, of Pennsylvania, to be Assistant Secretary for Elementary and Secondary Education, and Mark Schneider, of the District of Columbia, to be Director of the Institute of Education Science, both of the Department of Education, Marco M. Rajkovich, Jr., of Kentucky, to be a Member of the Federal Mine Safety and Health Review Commission, and other pending nominations.
Tuesday, March 13, 2018
Armed Services Committee | Hearings to examine United States Central Command and United States Africa Command in review of the Defense Authorization Request for fiscal year 2019 and the Future Years Defense Program.
Commerce, Science, and Transportation Committee: Subcommittee on Communications, Technology, Innovation, and the Internet | Hearings to examine rebuilding infrastructure in America, focusing on investing in next generation broadband.
Energy and Natural Resources Committee | Hearings to examine the President's proposed budget request for fiscal year 2019 for the Department of the Interior.
Judiciary Committee | Hearings to examine the Freedom of Information Act, focusing on the Administration's progress on reforms and looking ahead.
Armed Services Committee: Subcommittee on Cybersecurity | Hearings to examine the cyber posture of the Services in review of the Defense Authorization Request for fiscal year 2019 and the Future Years Defense Program; with the possibility of a closed session in SVC-217, following the open session.
Commerce, Science, and Transportation Committee: Subcommittee on Surface Transportation and Merchant Marine Infrastructure, Safety and Security: Hearings to examine rebuilding infrastructure in America, focusing on state and local transportation needs.
Foreign Relations Committee | Hearings to examine state fragility, growth, and development, focusing on designing policy approaches that work.
Intelligence Committee |To receive a closed briefing regarding certain intelligence matters.
WEDNESDAY, MARCH 14, 2018
Committee on Appropriations | Subcommittee on Energy and Water Development, and Related Agencies | Hearing: FY19 Budget Hearing - U.S. Army Corps of Engineers and Bureau of Reclamation
Committee on Financial Services | Subcommittee on Capital Markets | Hearing: Hearing entitled “Examining the Cryptocurrencies and ICO Markets”
Committee on Energy and Commerce | Subcommittee on Health | Hearing: Reauthorization of Animal Drug User Fees 2018: ADUFA and AGDUFA
Committee on Armed Services | Subcommittee on Seapower and Projection Forces | Hearing: Department of the Air Force FY 2019 Budget Request for Sea Power and Projection Forces
Committee on Homeland Security | Subcommittee on Transportation and Protective Security | Hearing: Examining the Presidents FY 2019 Budget Request for the Transportation Security Administration."
Committee on Rules | Hearing: H.R. 4061Financial Stability Oversight Council Improvement Act of 2017 Rules Committee Print 115-64Showing the text of H.R. 4061 as ordered reported by the Committee on Financial Services; H.R. 4293Stress Test Improvement Act of 2017 Rules Committee Print 115-63Showing the text of H.R. 4293 as ordered reported by the Committee on Financial Services
Committee on Armed Services | Subcommittee on Emerging Threats and Capabilities | Hearing: A Review and Assessment of the Fiscal Year 2019 Budget Request for Department of Defense Science and Technology Programs
Judiciary Committee: An oversight hearing to examine the Parkland shooting and legislative proposals to improve school safety.
Environment and Public Works Committee | Hearings to examine an original bill entitled, "the Agriculture Creates Real Employment (ACRE) Act".
Foreign Relations Committee: Subcommittee on Africa and Global Health Policy | Hearings to examine Somalia's current security and stability status.
Veterans' Affairs Committee | A joint hearing with the House Committee on Veterans' Affairs to examine the legislative presentation of multiple veterans service organizations.
Armed Services Committee: Subcommittee on Strategic Forces Committee | Hearings to examine Department of Energy atomic energy defense activities and programs in review of the Defense Authorization Request for fiscal year 2019 and the Future Years Defense Program.
Thursday, March 15, 2018
Committee on Appropriations | Transportation, Housing and Urban Development, and Related Agencies Hearing: FY19 Budget Hearing - The Department of Transportation
Committee on Appropriations | Military Construction, Veterans Affairs and Related Agencies
Committee on Appropriations | Labor, Health and Human Services, Education, and Related Agencies | Hearing: FY19 Budget Hearing - Department of Health and Human Services
Committee on Financial Services | Monetary Policy and Trade Hearing: Hearing entitled “Evaluating CFIUS: Administration Perspectives”
Committee on Appropriations | Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Hearing: FY19 Budget Hearing - Office of the Inspector General, Department of Agriculture
Committee on Armed Services | Subcommittee on Tactical Air and Land Forces | Hearing: Fiscal Year 2019 Budget Request on Air Force Airborne Intelligence Surveillance and Reconnaissance ISR Programs
Committee on Financial Services | Terrorism and Illicit Finance | Hearing: Hearing entitled “After the Breach: the Monetization and Illicit Use of Stolen Data”
Committee on Armed Services | Subcommittee on Strategic Forces | Hearing: Fiscal Year 2019 Budget Request for National Security Space Programs
Armed Services Committee | Hearings to examine United States Pacific Command in review of the Defense Authorization Request for fiscal year 2019 and the Future Years Defense Program.
Foreign Relations Committee | Hearings to examine the President's proposed budget request for fiscal year 2019 for the Department of State and redesign plans.
Health, Education, Labor, and Pensions Committee | Hearings to examine perspectives on the 340B Drug Discount Program.
Intelligence Committee | Hearings to examine the nomination of Lieutenant General Paul M. Nakasone, to be Director of the National Security Agency, Department of Defense.
Friday, March 16, 2018
Committee on the Judiciary | Subcommittee on Crime, Terrorism, Homeland Security, and Investigations | Hearing: Oversight of the Federal Bureau of Prisons