PublicationsInsights on Current Policy Issues

  • August 13, 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 consider seven bills under suspension of the rules. The Senate will vote on consideration of the following nominations: Karen Scholer, to be United States District Judge for the Northern District of Texas; Tilman Eugene Self III, to be United States District Judge for the Middle District of Georgia; and Terry Doughty, to be United States District Judge for the Western District of Louisiana.

THE HOUSE

 

Friday

  • The House was not in session.

 

Today

  • On Monday, the House will meet at 12:00 p.m. for morning hour and 2:00 p.m. for legislative business. Votes will be postponed until 6:30 p.m.
  • Legislation Considered Under Suspension of the Rules:
    • 1) H.R. 1209 – To designate the facility of the United States Postal Service located at 901 N. Francisco Avenue, Mission, Texas, as the “Mission Veterans Post Office Building” (Sponsored by Rep. Henry Cuellar / Oversight and Government Reform Committee)
    • 2) H.R. 2673 – To designate the facility of the United States Postal Service located at 514 Broadway Street in Pekin, Illinois, as the “Lance Corporal Jordan S. Bastean Post Office” (Sponsored by Rep. Cheri Bustos / Oversight and Government Reform Committee)
    • 3) H.R. 3183 – To designate the facility of the United States Postal Service located at 13683 James Madison Highway in Palmyra, Virginia, as the “U.S. Navy Seaman Dakota Kyle Rigsby Post Office” (Sponsored by Rep. Tom Garrett / Oversight and Government Reform Committee)
    • 4) H.R. 4406 – To designate the facility of the United States Postal Service located at 99 Macombs Place in New York, New York, as the “Tuskegee Airman Post Office Building” (Sponsored by Rep. Adriano Espaillat / Oversight and Government Reform Committee)
    • 5) H.R. 4646 – To designate the facility of the United States Postal Service located at 1900 Corporate Drive in Birmingham, Alabama, as the “Lance Corporal Thomas E. Rivers, Jr. Post Office Building” (Sponsored by Rep. Gary Palmer / Oversight and Government Reform Committee)
    • 6) H.R. 4685 – To designate the facility of the United States Postal Service located at 515 Hope Street in Bristol, Rhode Island, as the “First Sergeant P. Andrew McKenna Jr. Post Office” (Sponsored by Rep. David Cicilline / Oversight and Government Reform Committee)
    • 7) S. 831 – To designate the facility of the United States Postal Service located at 120 West Pike Street in Canonsburg, Pennsylvania, as the “Police Officer Scott Bashioum Post Office Building” (Sponsored by Sen. Pat Toomey / Oversight and Government Reform Committee)

 

THE SENATE

 

Friday

  • The Senate was not in session.

 

Today

  • The Senate stands adjourned until 3:00pm on Monday, March 5, 2018.
  • Following leader remarks, the Senate will resume consideration of Executive Calendar #438, Karen Scholer, of Texas, to be United States District Judge for the Northern District of Texas.
  • Monday at 5:30pm – 3 roll call votes:
    • 1. Confirmation of Executive Calendar #438, Karen Scholer, of Texas, to be United States District Judge for the Northern District of Texas
    • 2. Confirmation of Executive Calendar #439, Tilman Eugene Self III, of Georgia, to be United States District Judge for the Middle District of Georgia
    • 3. Confirmation of Executive Calendar #536, Terry Doughty, of Louisiana, to be United States District Judge for the Western District of Louisiana
  • As a reminder, during Thursday’s session Senator McConnell moved to proceed to Calendar #287, S.2155, Economic Growth, Regulatory Relief, and Consumer Protection Act, and filed cloture on the motion to proceed.
  • The cloture vote on the motion to proceed will be on Tuesday, March 6th.

 

Hearings Covered by W&J Today

 

No hearings scheduled

 

Notable Legislation Introduced

 

Financial Services

H.R.5132 — 115th Congress (2017-2018)
To impose additional sanctions with respect to Iran's Revolutionary Guard Corps, and for other purposes.
Sponsor: Rep. Royce, Edward R. [R-CA-39] (Introduced 03/01/2018) Cosponsors: (1)
Committees: House - Foreign Affairs, Financial Services, Oversight and Government Reform, Judiciary, Ways and Means
Latest Action: House - 03/01/2018 Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Oversight and Government Reform, the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of...

 

Health

H.R.5151 — 115th Congress (2017-2018)
To amend the Public Health Service Act to reauthorize a grant program improving treatment for pregnant and postpartum women.
Sponsor: Rep. Lujan, Ben Ray [D-NM-3] (Introduced 03/01/2018) Cosponsors: (0)
Committees: House - Energy and Commerce
Latest Action: House - 03/01/2018 Referred to the House Committee on Energy and Commerce.

H.R.5150 — 115th Congress (2017-2018)
To amend title XVIII of the Social Security Act to require drug manufacturers to pay a Medicare part B rebate for certain drugs if the price of such drugs increases faster than inflation.
Sponsor: Rep. Levin, Sander M. [D-MI-9] (Introduced 03/01/2018) Cosponsors: (0)
Committees: House - Energy and Commerce, Ways and Means
Latest Action: House - 03/01/2018 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...

H.R.5140 — 115th Congress (2017-2018)
To make improvements to the Account For the State Response to the Opioid Abuse Crisis to improve tribal health.
Sponsor: Rep. Mullin, Markwayne [R-OK-2] (Introduced 03/01/2018) Cosponsors: (1)
Committees: House - Energy and Commerce
Latest Action: House - 03/01/2018 Referred to the House Committee on Energy and Commerce.

H.R.5138 — 115th Congress (2017-2018)
To amend the Internal Revenue Code of 1986 to improve access to health care through modernized health savings accounts.
Sponsor: Rep. Kelly, Mike [R-PA-3] (Introduced 03/01/2018) Cosponsors: (5)
Committees: House - Ways and Means
Latest Action: House - 03/01/2018 Referred to the House Committee on Ways and Means.

 

Tax

H.R.5145 — 115th Congress (2017-2018)
To amend the Internal Revenue Code of 1986 to eliminate tax preferences for foreign profits by repealing the reduced rate of tax on foreign-derived intangible income and global intangible low-taxed income.
Sponsor: Rep. DeLauro, Rosa L. [D-CT-3] (Introduced 03/01/2018) Cosponsors: (0)
Committees: House - Ways and Means
Latest Action: House - 03/01/2018 Referred to the House Committee on Ways and Means.

S.2478 — 115th Congress (2017-2018)
A bill to amend the Internal Revenue Code of 1986 to deny the deduction for advertising and promotional expenses for prescription drugs.
Sponsor: Sen. McCaskill, Claire [D-MO] (Introduced 03/01/2018) Cosponsors: (1)
Committees: Senate - Finance
Latest Action: Senate - 03/01/2018 Read twice and referred to the Committee on Finance.

PublicationsInsights on Current Policy Issues

  • August 13, 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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