PublicationsInsights on Current Policy Issues

  • December 17, 2018

    By David E. Franasiak, Joel G. Oswald, Leah H. Kim, and Rebecca L. Konst

    This memorandum provides an update of federal action on cryptocurrencies, including enforcement and guidance. It also provides a summary of Congressional activity relating to cryptocurrencies and blockchain technology.

     

    Read...

    Read More
  • 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

The House will complete consideration of H.R. 3351 – Financial Services and General Government Appropriations Act, 2020 (Rep. Quigley – Appropriations). The Senate will resume consideration of S.1790, National Defense Authorization Act.

THE HOUSE

 

Yesterday

  • SUMMARY OF LEGISLATIVE BUSINESS
    • Ordering the Previous Question on H. Res. 460 - The combined rule providing for consideration of the bill H.R. 2722 - Securing America’s Federal Elections Act and of the bill H.R. 3351 - Financial Services and General Government Appropriations Act, 2020
      • - PASSED 228 -188, ROLL CALL 403
    • Adoption of H. Res. 460 - The combined rule providing for consideration of the bill H.R. 2722 - Securing America’s Federal Elections Act and of the bill H.R. 3351 - Financial Services and General Government Appropriations Act, 2020
      • - ADOPTED 225 - 190, ROLL CALL 404
    • Banks (R-IN) – Amendment No. 251 - Reduces amounts made available in Division E, other than amounts made available to the Department of Defense, by 14 percent
      • - REJECTED 131 - 287, ROLL CALL 405
    • Jayapal (D-WA) – Amendment No. 268 - Reallocates $1,000,000 to fund transitional housing and homelessness services
      • - ADOPTED 294 - 127, ROLL CALL 406
    • Republican Motion to Recommit on H.R. 3055 
      • - REJECTED 201 - 220, ROLL CALL 407
    • Passage of H.R. 3055 - Commerce, Justice, Science, Agriculture, Rural Development, Food and Drug Administration, Interior, Environment, Military Construction, Veterans Affairs, Transportation, and Housing and Urban Development Appropriations Act, 2020
      • - PASSED 227 - 194, ROLL CALL 408
  • Amendments to H.R. 3351:
    • Pocan (D-WI), Clyburn (D-SC), Bustos (D-IL), Butterfield (D-NC) – Amendment No. 1 - Prohibits the Federal Communications Committee from finalizing the proposed rule “Universal Service Contribution Methodology," which would impose a cap on the Universal Service Fund and allow the sub-caps of USF programs to be combined
        • - ADOPTED BY VOICE
    • King, Steve (R-IA) - Amendment No. 2 - Strikes section 634 from the bill, which states that none of the funds made available by this Act may be used to propose, promulgate, or implement any rule, principle, policy, standard, or guidance changing the 2017 methodology prescribed by OMB for determining the Official Poverty Measure.
      • - NOT OFFERED
    • King, Steve (R-IA) - Amendment No. 3 - Strikes the section 126 of the underlying bill which prohibits the use of funds from the Department of the Treasury’s Forfeiture Fund to plan, design, construct or carry out a project to construct a southern Border Wall or barrier along the southern border of the US
      • - REJECTED 191 - 226, ROLL CALL 411
    • Norton (D-DC), Connolly (D-VA), Raskin (D-MD), Sarbanes (D-MD), Trone (D-MD), Hoyer (D-MD), Brown (D-MD), Wexton (D-VA), Beyer (D-VA), Titus (D-NV) - Amendment No. 4 - Prohibits funds made available by this Act from being used to relocate the National Institute of Food and Agriculture or the Economic Research Service outside of the National Capital Region.
      • - ADOPTED 226 - 198, ROLL CALL 412
    • Huizenga (R-MI) - Amendment No. 5 - Prohibits the use of funds to implement, administer, or enforce a SEC rule pursuant to Section 1502 of the Dodd-Frank Act relating to conflict minerals.
      • - REJECTED BY VOICE
    • Velázquez (D-NY) - Amendment No. 6 - Increases funding for Small Business Administration, Entrepreneurial Development Programs by $1 million, with the increase intended to specifically support Growth Accelerators.
      • - ADOPTED BY VOICE
    • Hill, French (R-AR), Womack (R-AR) - Amendment No. 7 - Increases and decreases funding in the Small Business Administration’s Entrepreneurial Development Programs by $5,000,000 to support funding for the Small Business Administration’s Regional Innovation Cluster Program.
      • - ADOPTED BY VOICE
    • Lee (D-CA) [on behalf of Jackson Lee (D-TX)] - Amendment No. 8 - Increases funding by $1 million to the Taxpayer Advocate Service for the purpose of assisting the parents of a deceased child, when that child's information has been stolen and used on personal income taxes filed with the IRS, when the parent or guardian of record must report the identity theft of their deceased child's information.
      • - ADOPTED BY VOICE
    • Courtney (D-CT), Zeldin (R-NY), Suozzi (D-NY), Rice, Kathleen (D-NY), DeLauro (D-CT) - Amendment No. 9 - Prohibits funds by the GSA to market or sell the National Bio and Agro-defense Facility at Plum Island, New York.
      • - ADOPTED BY VOICE
    • Pascrell (D-NJ), Amodei (R-NV), Pressley (D-MA) - Amendment No. 10 - Increases and decreases funding by $1,000,000 for the United States Postal Service (USPS) to support USPS expanding its non-bank financial services to the fullest extent permitted by current statute in order to meet the needs of underbanked Americans.
      • - ADOPTED BY VOICE
    • Ordering the Previous Question on H. Res. 462 - The rule providing for consideration of the bill H.R. 3401 - Emergency Supplemental Appropriations for Humanitarian Assistance and Security at the Southern Border Act, 2019
      • - PASSED 226 - 188, ROLL CALL 409
    • Adoption of H. Res. 462 - The rule providing for consideration of the bill H.R. 3401 - Emergency Supplemental Appropriations for Humanitarian Assistance and Security at the Southern Border Act, 2019
      • - ADOPTED 225 - 189, ROLL CALL 410
    • Republican Motion to Recommit
      • - REJECTED 205 - 218, ROLL CALL 413
    • Passage of H.R. 3401 - Emergency Supplemental Appropriations for Humanitarian Assistance and Security at the Southern Border Act, 2019
      • - PASSED 230 - 195, ROLL CALL 414

 

Today

  • One Minutes (15 per side)
  • Complete Consideration of H.R. 3351 – Financial Services and General Government Appropriations Act, 2020 (Rep. Quigley – Appropriations)
  • The Rule, which was adopted today, allows for no further general debate, made in order 46 amendments, and allows for amendments to be offered en bloc.  A full list of amendments can be found here.
  • As of tonight, the House has completed debate through Pascrell Amendment #10.  Members are advised that they should be prepared to offer their amendment at the appropriate time tomorrow.

 

THE SENATE

 

Yesterday

  • No Roll Call Votes
  • No Legislative Business
  • No Executive Business

 

Today

  • The Senate stands adjourned until 10:00am on Wednesday, June 26, 2019.
  • Following Leader remarks, the Senate will resume consideration of S.1790, National Defense Authorization Act.
  • The filing deadline for second-degree amendments is one hour prior to the cloture votes.
  • If no further agreement is reached, at 12:00 noon, the Senate will vote on the motion to invoke cloture on the Inhofe substitute amendment #764, as modified. If cloture is invoked, there would be up to 30 hours of post-cloture debate on the amendment. At the end of that time, the Senate would dispose of the pending amendments to the substitute and vote on adoption of the substitute. If cloture is not invoked, there would be an immediate second vote on the motion to invoke cloture on the underlying bill, S.1790. Negotiations continue on a path forward on the bill.
  • This week, the Senate may also consider border supplemental appropriations.
  • 12:00 noon, Wednesday June 26 – up to 2 roll call votes:
    • Motion to invoke cloture on Inhofe substitute amendment #764, as modified
    • If cloture is not invoked, then
    • Motion to invoke cloture on S.1790, NDAA.
  • Amendments pending to S.1790, NDAA:
    • Inhofe amendment #764, as modified (substitute)
    • McConnell for Romney amendment #861 (use of funds to defend U.S)
    • McConnell Amendment #862 to SA #861 (date change)
    • McConnell Amendment #863 to the language proposed to be stricken (date change)
    • McConnell Amendment #864 to SA #863 (date change)
    • McConnell Motion to recommit with amendment #865 (date change)
    • Amendment #866 to SA#865 (date change)
    • Amendment #867 to SA #866 (date change)

 

Hearings Covered by W&J Today

 

House Agriculture
Brexit and Other International Developments Affecting U.S. Derivatives Markets

House Financial Services – AI Task Force
Perspectives on Artificial Intelligence: Where We Are and the Next Frontier in Financial Services

House Science, Space, and Technology
Artificial Intelligence: Societal and Ethical Implications

Senate Commerce
Amtrak: Next Steps for Passenger Rail

House Energy and Commerce
Energy Subcommittee Markup

House Education and Labor
Standing with Public Servants: Protecting the Right to Organize

Senate HELP
Health Care Markup

House Financial Services
Markup

House Foreign Affairs
Transatlantic Policy Impacts of the U.S. – EU Trade Conflict

House Oversight and Reform
U.S. Biodefense, Preparedness, and Implications of Antimicrobial Resistance for National Security

House Oversight and Reform
FITARA 8.0

House Veterans Affairs
Beyond the Million Veterans Program: Barriers to Precision Medicine

American Enterprise Institute
Containing Ebola

 

Notable Legislation Introduced

 

Financial Services

H.R.3490 — 116th Congress (2019-2020)
To amend the Truth in Lending Act to prohibit certain unfair credit practices, and for other purposes.
Sponsor: Rep. Velazquez, Nydia M. [D-NY-7] (Introduced 06/25/2019) Cosponsors: (2)
Committees: House - Financial Services
Latest Action: House - 06/25/2019 Referred to the House Committee on Financial Services.

H.R.3483 — 116th Congress (2019-2020)
To require the Secretary of the Treasury to mint commemorative coins in recognition of the 75th anniversary of the integration of baseball.
Sponsor: Rep. Richmond, Cedric L. [D-LA-2] (Introduced 06/25/2019) Cosponsors: (108)
Committees: House - Financial Services
Latest Action: House - 06/25/2019 Referred to the House Committee on Financial Services.

 

Health

H.R.3461 — 116th Congress (2019-2020)
To establish a Community-Based Institutional Special Needs Plan demonstration program to target home and community-based care to eligible Medicare beneficiaries, and for other purposes.
Sponsor: Rep. Sanchez, Linda T. [D-CA-38] (Introduced 06/25/2019) Cosponsors: (2)
Committees: House - Ways and Means, Energy and Commerce
Latest Action: House - 06/25/2019 Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, 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.1966 — 116th Congress (2019-2020)
A bill to prohibit Federal funding to entities that do not certify the entities will not perform, or provide any funding to any other entity that performs, an abortion.
Sponsor: Sen. Blackburn, Marsha [R-TN] (Introduced 06/25/2019) Cosponsors: (4)
Committees: Senate - Health, Education, Labor, and Pensions
Latest Action: Senate - 06/25/2019 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

S.1960 — 116th Congress (2019-2020)
A bill to amend title XI of the Social Security Act to improve the quality, health outcomes, and value of maternity care under the Medicaid and CHIP programs by developing maternity care quality measures and supporting maternity care quality collaboratives.
Sponsor: Sen. Stabenow, Debbie [D-MI] (Introduced 06/25/2019) Cosponsors: (1)
Committees: Senate - Finance
Latest Action: Senate - 06/25/2019 Read twice and referred to the Committee on Finance.

 

Tax

H.R.3479 — 116th Congress (2019-2020)
To amend the Internal Revenue Code of 1986 to repeal the qualified contract exception to the extended low-income housing commitment rules for purposes of the low-income housing credit, and for other purposes.
Sponsor: Rep. Neguse, Joe [D-CO-2] (Introduced 06/25/2019) Cosponsors: (2)
Committees: House - Ways and Means
Latest Action: House - 06/25/2019 Referred to the House Committee on Ways and Means.

H.R.3478 — 116th Congress (2019-2020)
To amend the Internal Revenue Code of 1986 to modify the low-income housing credit basis limitation rules in the case the acquisition of an existing building.
Sponsor: Rep. Neguse, Joe [D-CO-2] (Introduced 06/25/2019) Cosponsors: (0)
Committees: House - Ways and Means
Latest Action: House - 06/25/2019 Referred to the House Committee on Ways and Means.

H.R.3466 — 116th Congress (2019-2020)
To amend the Internal Revenue Code of 1986 to clarify the authority of the Secretary of the Treasury to rescind identifying numbers of tax return preparers.
Sponsor: Rep. Estes, Ron [R-KS-4] (Introduced 06/25/2019) Cosponsors: (1)
Committees: House - Ways and Means
Latest Action: House - 06/25/2019 Referred to the House Committee on Ways and Means.

S.1961 — 116th Congress (2019-2020)
A bill to amend the Truth in Lending Act to prohibit certain unfair credit practices, and for other purposes.
Sponsor: Sen. Brown, Sherrod [D-OH] (Introduced 06/25/2019) Cosponsors: (1)
Committees: Senate - Banking, Housing, and Urban Affairs
Latest Action: Senate - 06/25/2019 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

S.1956 — 116th Congress (2019-2020)
A bill to amend the Internal Revenue Code of 1986 to repeal the qualified contract exception to the extended low-income housing commitment rules for purposes of the low-income housing credit, and for other purposes.
Sponsor: Sen. Wyden, Ron [D-OR] (Introduced 06/25/2019) Cosponsors: (3)
Committees: Senate - Finance
Latest Action: Senate - 06/25/2019 Read twice and referred to the Committee on Finance.

 

PublicationsInsights on Current Policy Issues

  • December 17, 2018

    By David E. Franasiak, Joel G. Oswald, Leah H. Kim, and Rebecca L. Konst

    This memorandum provides an update of federal action on cryptocurrencies, including enforcement and guidance. It also provides a summary of Congressional activity relating to cryptocurrencies and blockchain technology.

     

    Read...

    Read More
  • 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

Recent TweetsFollow Us >

TheFirmWJ
TheFirmWJ W&J’s David Franasiak will speak at the Land Investment Expo on Friday, January 25: peoplescompany.co... presented by @PeoplesCompany #LandExpo19
TheFirmWJ
TheFirmWJ Thanks to the Century Club for hosting W&J’s Frank Vlossak and Chris Wilcox to discuss the elections and the outlook for the 116th Congress. pic.twitter.com/u... – at The Century Club
TheFirmWJ
TheFirmWJ A W&J election update from Matt Hoekstra, Chris Wilcox, and Van Hilleary. pic.twitter.com/z...