PublicationsInsights on Current Policy Issues

  • 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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  • October 10, 2017

    By Frank Vlossak

    On October 10, Environmental Protection Agency (EPA) Administrator Scott Pruitt signed a Notice of Proposed Rulemaking (NPRM) titled “Repeal of Carbon Pollution Emission Guidelines for Existing Stationary Sources: Electric Generating Units”. The NPRM would rescind the Obama Administration’s Clean Power Plan (CPP), a rule that would reduce greenhouse gas (GHG) emissions from existing power generation sector sources, namely coal and natural gas power plants.

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The House will complete consideration of H.R. 1153 – Mortgage Choice Act of 2017 and H.R. 4771 – Small Bank Holding Company Relief Act of 2018. The Senate will vote on the motion to invoke cloture on the motion to concur in the House message to H.R.695, Department of Defense Appropriations Act, 2018. Both the House and Senate are expected to vote today on the Bipartisan Budget Act of 2018, a substitute amendment to the House-passed H.R.1892, containing a continuing resolution through March 23, 2018 and the budget caps agreement. Funding for the government expires at midnight tonight.

THE HOUSE

 

Yesterday

  • SUMMARY OF LEGISLATIVE BUSINESS
    • H.R. 1153 - Mortgage Choice Act of 2017
      • – VOTE ORDERED
    • H.R. 3851 - War Crimes Rewards Expansion Act
      • – ON THE MOTION TO SUSPEND THE RULES AND PASS
        • - PASSED 407 – 0, ROLL CALL 61
    • H.R. 1997 - Ukraine Cybersecurity Cooperation Act of 2017
      • – ON THE MOTION TO SUSPEND THE RULES AND PASS
        • - PASSED 404 – 3, ROLL CALL 62
    • S. 1438 - Gateway Arch National Park Designation Act
      • - ON THE MOTION TO SUSPEND THE RULES AND PASS
        • – PASSED BY VOICE
    • H.R. 2371 - Western Area Power Administration Transparency Act
      • – ON THE MOTION TO SUSPEND THE RULES AND PASS
        • – PASSED BY VOICE

 

Today

  • On Thursday, the House will meet at 9:00 a.m. for morning hour and 10:00 a.m. for legislative business. First votes expected: 10:30 a.m. – 11:30 a.m. Last votes expected: TBD.
  • One Minute Speeches
  • Complete Consideration of H.R. 1153 – Mortgage Choice Act of 2017 (Closed Rule) (Sponsored by Rep. Bill Huizenga / Financial Services Committee)
  • H.R. 4771 – Small Bank Holding Company Relief Act of 2018, Rules Committee Print (Closed Rule, One Hour of Debate) (Sponsored by Rep. Mia Love / Financial Services Committee)
  • Legislation Considered Under Suspension of the Rules:
    • 1) S. 96 – Improving Rural Call Quality and Reliability Act of 2017 (Sponsored by Sen. Amy Klobuchar / Energy and Commerce Committee)
    • 2) Concurring in the Senate Amendment to H.R. 582 – Kari’s Law Act of 2017 (Sponsored by Rep. Louie Gohmert / Energy and Commerce Committee)

 

THE SENATE

 

Yesterday

  • Legislative Business
    • Adopted S.Res.385: supporting the observation of “National Trafficking and Modern Slavery Prevention Month” during the period beginning on January 1, 2018, and ending on February 1, 2018, to raise awareness of, and opposition to, human trafficking and modern slavery.
    • Adopted S.Res.397: designating February 5 through 9, 2018, as “National School Counseling Week”.
    • Adopted S.Res.398: supporting the observation of “National Girls & Women in Sports Day” on February 7, 2018, to raise awareness of and celebrate the achievements of girls and women in sports
    • Adopted S.Res.399: congratulating the Philadelphia Eagles on their triumph in Super Bowl LII
  • Executive Business
    • Confirmed the following nominations:
      • CORPORATION FOR NATIONAL AND COMMUNITY SERVICE
        • Barbara Stewart, of Illinois, to be Chief Executive Officer of the Corporation for National and Community Service.
      • DEPARTMENT OF HEALTH AND HUMAN SERVICES
        • Brett Giroir, of Texas, to be Medical Director in the Regular Corps of the Public Health Service, and to be an Assistant Secretary of Health and Human Services.

 

Today

  • The Senate stands adjourned until 10:30am on Thursday, February 8, 2018.
  • Following Leader remarks, the Senate will resume consideration of the House message to accompany H.R.695, Department of Defense Appropriations Act, 2018. As a result of cloture having been filed during Tuesday’s session, the cloture vote on the House DOD Approps bill is expected to occur at 11:30am, with the time before the vote equally divided.
  • As a reminder, during Wednesday’s session Senator McConnell moved to concur in the House message to accompany H.R.1892 with a further amendment (text of CR to March 23rd/caps agreement) and filed cloture on the motion to concur. He then filled the amendment tree and made a motion to refer the bill to the Committee on Appropriations with instructions and filled the amendment tree.
  • The filing deadline for first degree amendments to H.R.1892 is 1:00pm Thursday, and the filing deadline for second degree amendments is one hour prior to the cloture vote, if cloture is invoked.
  • We expect to have the vote on cloture and on the motion to concur during Thursday’s session.
  • Thursday, February 8 at 11:30am – 1 roll call vote
    •  Motion to invoke cloture on the motion to concur in the House message to H.R.695 (House DOD Approps language only)
  • Thursday, February 8 at a time TBD
    • Motion to invoke cloture on the motion to concur in the House message to H.R.1892 (CR to March 23rd/caps agreement)
    • Motion to concur in the House amendment to the Senate amendment to H.R.1892, with further amendment (CR to March 23rd/caps agreement)

 

Hearings Covered by W&J Today

 

Senate Energy and Natural Resources
Energy Infrastructure

Senate Health, Education, Labor and Pensions
The Opioid Crisis: Impact on Children and Families

 

Notable Legislation Introduced

 

Cybersecurity

S.2392 — 115th Congress (2017-2018)
A bill to amend the Homeland Security Act of 2002 to authorize the Secretary of Homeland Security to designate cybersecurity technologies that qualify for protection under systems of risk and litigation management.
Sponsor: Sen. Daines, Steve [R-MT] (Introduced 02/07/2018) Cosponsors: (0)
Committees: Senate - Homeland Security and Governmental Affairs
Latest Action: Senate - 02/07/2018 Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

 

Financial Services

H.R.4971 — 115th Congress (2017-2018)
To amend the Securities Act of 1933 to exempt from registration with the Securities and Exchange Commission certain accredited investor transactions within transparent secondary markets, and for other purposes.
Sponsor: Rep. Mooney, Alexander X. [R-WV-2] (Introduced 02/07/2018) Cosponsors: (1)
Committees: House - Financial Services
Latest Action: House - 02/07/2018 Referred to the House Committee on Financial Services.

 

Health Care

H.R.4957 — 115th Congress (2017-2018)
To provide better care and outcomes for Americans living with Alzheimer's disease and related dementias and their caregivers while accelerating progress toward prevention strategies, disease modifying treatments, and, ultimately, a cure.
Sponsor: Rep. Sanchez, Linda T. [D-CA-38] (Introduced 02/07/2018) Cosponsors: (1)
Committees: House - Energy and Commerce, Ways and Means
Latest Action: House - 02/07/2018 Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee.

S.2387 — 115th Congress (2017-2018)
A bill to provide better care and outcomes for Americans living with Alzheimer's disease and related dementias and their caregivers while accelerating progress toward prevention strategies, disease modifying treatments, and, ultimately, a cure.
Sponsor: Sen. Capito, Shelley Moore [R-WV] (Introduced 02/07/2018) Cosponsors: (3)
Committees: Senate - Finance
Latest Action: Senate - 02/07/2018 Read twice and referred to the Committee on Finance.

 

Tax

H.R.4962 — 115th Congress (2017-2018)
To amend the Internal Revenue Code of 1986 to provide a special rule for certain casualty losses of uncut timber.
Sponsor: Rep. Carter, Earl L. "Buddy" [R-GA-1] (Introduced 02/07/2018) Cosponsors: (6)
Committees: House - Ways and Means
Latest Action: House - 02/07/2018 Referred to the House Committee on Ways and Means.

H.R.4959 — 115th Congress (2017-2018)
To amend the Internal Revenue Code of 1986 to ensure that the temporary refundable portion of the child tax credit is not less than the payroll taxes paid by the taxpayer.
Sponsor: Rep. Budd, Ted [R-NC-13] (Introduced 02/07/2018) Cosponsors: (0)
Committees: House - Ways and Means
Latest Action: House - 02/07/2018 Referred to the House Committee on Ways and Means.

PublicationsInsights on Current Policy Issues

  • 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
  • October 10, 2017

    By Frank Vlossak

    On October 10, Environmental Protection Agency (EPA) Administrator Scott Pruitt signed a Notice of Proposed Rulemaking (NPRM) titled “Repeal of Carbon Pollution Emission Guidelines for Existing Stationary Sources: Electric Generating Units”. The NPRM would rescind the Obama Administration’s Clean Power Plan (CPP), a rule that would reduce greenhouse gas (GHG) emissions from existing power generation sector sources, namely coal and natural gas power plants.

    Read...

    Read More

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