PublicationsInsights on Current Policy Issues

  • April 19, 2018

    By David E. Franasiak, Joel G. Oswald, Michael D. Kans, and Rebecca L. Konst

     This memorandum will provide a survey of federal action on cryptocurrencies (aka virtual currencies), including enforcement and guidance. At present, some federal regulators have begun asserting oversight and enforcement authority under their existing powers while other potential regulators have not yet indicated publicly what, if any, oversight they will exercise. Other federal stakeholders on cryptocurrencies have also begun to engage. However, the U.S. government’s approach to virtual currencies remains fluid.

     

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  • February 5, 2018

    By David E. Franasiak, Joel G. Oswald, Michael D. Kans, and Rebecca L. Konst

     This memorandum will provide a survey of federal action on cryptocurrencies (aka virtual currencies), including enforcement and guidance. At present, some federal regulators have begun asserting oversight and enforcement authority under their existing powers while other potential regulators have not yet indicated publicly what, if any, oversight they will exercise. Other federal stakeholders on cryptocurrencies have also begun to engage. However, the U.S. government’s approach to virtual currencies remains fluid.

     

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  • January 11, 2018

    By Frank Vlossak

    Since taking office, President Trump and his Administration have worked toward regulatory reform that includes the review, revision, and repeal of existing regulations, with a focus on rules promulgated by the Obama Administration. Congress has played a key role in this effort, through the use of the Congressional Review Act to repeal rules finalized in the waning months of the prior Administration, as well as one rule issued by the Consumer Financial Protection Bureau (CFPB) in 2017.

    President Trump signed a series of executive orders in the early months of his presidency that are propelling the deregulatory efforts of federal agencies. These executive orders: set a cap limiting regulations in Fiscal Year 2017 to zero net cost; provide agencies with a framework for limiting new regulations and identifying existing rules to repeal or revise; direct review and revision or repeal of the “Waters of the United States” rule issued by the Obama Administration; and require review and reform of energy and climate-related regulations.

     

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The House is expected to consider several bills under suspension of the rules and is also expected to consider a measure (conference report to accompany HR 2810) that would authorize FY 2018 funding, programs and policy for the Defense Department and related agencies and a bill (HR 2874) that would reauthorize National Flood Insurance Program (NFIP). The Senate will resume consideration of Stephen Gill Bradbury, to be General Counsel to the Department of Transportation.

House

 

Yesterday

  • Suspensions: The House agreed to suspend the rules and pass the following measures:
    • Market Data Protection Act of 2017:
      • H.R. 3973, to amend the Securities Exchange Act of 1934 to require certain entities to develop internal risk control mechanisms to safeguard and govern the storage of market data;
    • Federal Acquisition Savings Act of 2017:
      • H.R. 3071, amended, to require executive agencies to consider equipment rental in any cost-effectiveness analysis for equipment acquisition, by a yea-and-nay vote of 396 yeas with none voting ``nay'', Roll No. 624; and
    • Presidential Allowance Modernization Act of 2017:
      • H.R. 3739, amended, to amend the Act of August 25, 1958, commonly known as the ``Former Presidents Act of 1958'', with respect to the monetary allowance payable to a former President.
    • Expressing the sense of the House of Representatives with respect to United States policy towards Yemen:
      • The House agreed to H. Res. 599, expressing the sense of the House of Representatives with respect to United States policy towards Yemen, by a yea-and-nay vote of 366 yeas to 30 nays with one answering ``present'', Roll No. 623.
    • Suspension--Proceedings Postponed:
      • The House debated the following measure under suspension of the rules. Further proceedings were postponed.
    • Connected Government Act:
      • H.R. 2331, amended, to require a new or updated Federal website that is intended for use by the public to be mobile friendly.

 

Today

  • The House reconvenes at noon for legislative business and is expected to consider measures under suspension of the rules. The chamber is also expected to consider a measure (conference report to accompany HR 2810) that would authorize FY 2018 funding, programs and policy for the Defense Department and related agencies and a bill (HR 2874) that would reauthorize National Flood Insurance Program (NFIP) for five years and modify the program to improve its financial stability, enhance the development of better maps and increase the role of private markets in providing flood insurance.
  • Bills:
    • HR 3109 — A bill to designate the facility of the United States Postal Service located at 1114 North 2nd Street in Chillicothe, Illinois, as the "Sr. Chief Ryan Owens Post Office Building".
    • HR 3893 — A bill to designate the facility of the United States Postal Service located at 100 Mathe Avenue in Interlachen, Florida, as the "Robert H. Jenkins Post Office".
    • HR 1207 — A bill to designate the facility of the United States Postal Service located at 306 River Street in Tilden, Texas, as the "Tilden Veterans Post Office".
    • HR 2810 — Fiscal 2018 Defense Authorization
    • HR 2874 — 21st Century Flood Reform Act

 

Senate

 

Yesterday

  • Measures Passed:
  • FEMA Accountability, Modernization and Transparency Act:
    • Senate passed H.R. 1679, to ensure that the Federal Emergency Management Agency's current efforts to modernize its grant management system includes applicant accessibility and transparency.
  • Bradbury Nomination--Agreement:
    • Senate resumed consideration of the nomination of Steven Gill Bradbury, of Virginia, to be General Counsel of the Department of Transportation.
  • During consideration of this nomination today, Senate also took the following action:
    • By 50 yeas to 47 nays (Vote No. 271), Senate agreed to the motion to close further debate on the nomination.
    • A unanimous-consent agreement was reached providing for further consideration of the nomination, post-cloture, at approximately 10 a.m., on Tuesday, November 14, 2017; and that all time during recess, adjournment, morning business, and Leader remarks count post-cloture on the nomination.
  • Nomination Confirmed: Senate confirmed the following nomination:
    • By 90 yeas to 7 nays (Vote No. EX. 270), Derek Kan, of California, to be Under Secretary of Transportation for Policy.

 

Today

  • The Senate stands adjourned until 10:00am on Tuesday, November 14, 2017.
  • Following Leader remarks, the Senate will resume consideration of Executive Calendar #254, Stephen Gill Bradbury, of Virginia, to be General Counsel to the Department of Transportation, post-cloture.
  • The Senate will recess from 12:30pm until 2:15pm to allow for the weekly caucus meetings.
  • As a reminder, Senator McConnell has also filed cloture on the following nominations:
    • 1)      Executive Calendar #383, David G. Zatezalo, of West Virginia, to be Assistant Secretary of Labor for Mine Safety and Health;
    • 2)      Executive Calendar #300, Joseph Otting, of Nevada, to be Comptroller of the Currency;
    • 3)      Executive Calendar #313, Donald C. Coggins Jr., of South Carolina, to be United States District Judge for the District of South Carolina; and
    • 4)      Executive Calendar #314, Dabney Langhorne Freidrich, of California, to be United States District Judge for the District of Columbia.
  • Each nomination is subject to a cloture vote and then, if cloture is invoked, up to 30 hours of post-cloture debate prior to a vote on confirmation. Upon disposition of the first nomination, there would be a cloture vote on the next nomination in the series and then, if cloture is invoked, up to 30 hours of debate.

 

Hearings Covered by W&J Today

 

Senate Finance
Tax Cuts and Jobs Act

Real Clear Politics
Examining the Pharmaceutical Supply Chain

Senate Energy and Natural Resources
Puerto Rico/Virgin Islands Hurricane Recovery

House Energy and Commerce
Hurricane Response/Recovery

House Financial Services
Markup

Senate HELP
Gene Editing Technology: Innovation and Impact

House Appropriations
VA Electronic Health Record Oversight

House Science, Space, and Technology
Bolstering Government Cybersecurity

House Natural Resources
Territories Disaster Recovery Financial Accountability

Senate Commerce
Technology in Agriculture

 

Notable Legislation Introduced

 

Energy

H.R.4381 — 115th Congress (2017-2018)
To require certain holders of a certificate of public convenience and necessity issued under the Natural Gas Act to suspend activities authorized by the certificate until violations relating to air quality are remediated, and for other purposes.
Sponsor: Rep. Lynch, Stephen F. [D-MA-8] (Introduced 11/13/2017) Cosponsors: (0)
Committees: House - Energy and Commerce
Latest Action: House - 11/13/2017 Referred to the House Committee on Energy and Commerce.

 

Financial Services

H.R.4373 — 115th Congress (2017-2018)
To modernize and strengthen the United States anti-money laundering and counter-terrorism financing regime.
Sponsor: Rep. Royce, Edward R. [R-CA-39] (Introduced 11/13/2017) Cosponsors: (1)
Committees: House - Financial Services
Latest Action: House - 11/13/2017 Referred to the House Committee on Financial Services.

PublicationsInsights on Current Policy Issues

  • April 19, 2018

    By David E. Franasiak, Joel G. Oswald, Michael D. Kans, and Rebecca L. Konst

     This memorandum will provide a survey of federal action on cryptocurrencies (aka virtual currencies), including enforcement and guidance. At present, some federal regulators have begun asserting oversight and enforcement authority under their existing powers while other potential regulators have not yet indicated publicly what, if any, oversight they will exercise. Other federal stakeholders on cryptocurrencies have also begun to engage. However, the U.S. government’s approach to virtual currencies remains fluid.

     

    Read...

    Read More
  • February 5, 2018

    By David E. Franasiak, Joel G. Oswald, Michael D. Kans, and Rebecca L. Konst

     This memorandum will provide a survey of federal action on cryptocurrencies (aka virtual currencies), including enforcement and guidance. At present, some federal regulators have begun asserting oversight and enforcement authority under their existing powers while other potential regulators have not yet indicated publicly what, if any, oversight they will exercise. Other federal stakeholders on cryptocurrencies have also begun to engage. However, the U.S. government’s approach to virtual currencies remains fluid.

     

    Read...

    Read More
  • January 11, 2018

    By Frank Vlossak

    Since taking office, President Trump and his Administration have worked toward regulatory reform that includes the review, revision, and repeal of existing regulations, with a focus on rules promulgated by the Obama Administration. Congress has played a key role in this effort, through the use of the Congressional Review Act to repeal rules finalized in the waning months of the prior Administration, as well as one rule issued by the Consumer Financial Protection Bureau (CFPB) in 2017.

    President Trump signed a series of executive orders in the early months of his presidency that are propelling the deregulatory efforts of federal agencies. These executive orders: set a cap limiting regulations in Fiscal Year 2017 to zero net cost; provide agencies with a framework for limiting new regulations and identifying existing rules to repeal or revise; direct review and revision or repeal of the “Waters of the United States” rule issued by the Obama Administration; and require review and reform of energy and climate-related regulations.

     

    Read...

    Read More

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