Today’s Daily Update

The House will consider H.R. 766 – Financial Institution Customer Protection Act of 2015. The Senate will resume consideration of S.2012, Energy Policy Modernization Act.

House

 

Yesterday:

  • Encouraging Employee Ownership Act: The House passed H.R. 1675, to direct the Securities and Exchange Commission to revise its rules so as to increase the threshold amount for requiring issuers to provide certain disclosures relating to compensatory benefit plans, by a yea-and-nay vote of 265 yeas to 159 nays, Roll No. 61.
    • Rejected the Frankel (FL) motion to recommit the bill to the Committee on Financial Services with instructions to report the same back to the House forthwith with an amendment, by a recorded vote of 184 ayes to 241 noes, Roll No. 60.
    • Pursuant to the Rule, an amendment in the nature of a substitute consisting of the text of Rules Committee Print 114-43 shall be considered as an original bill for the purpose of amendment under the five-minute rule.
    • Agreed to:
      • Huizenga (MI) amendment (No. 2 printed in part A of H. Rept. 114-414) that clarifies the disqualification from the exemption of any broker or associated person who is subject to suspension or revocation of registration, and the in-applicability of the exemption to any M&A transaction where one party or more is a shell company.
    • Rejected:
      • Sherman amendment (No. 3 printed in part A of H. Rept. 114-414) that sought to provide exclusions for when a mergers and acquisitions broker is not exempt from registration with the SEC;
      • DeSaulnier amendment (No. 1 printed in part A of H. Rept. 114-414) that sought to direct the SEC to study and report to Congress the prevalence of employee ownership plans within companies that include a flexible or social benefit component in their articles of incorporation, as allowed under relevant state laws (by a recorded vote of 180 ayes to 243 noes, Roll No. 57);
      • Issa amendment (No. 6 printed in part A of H. Rept. 114-414) that sought to limit all exemptions granted therein only to companies obligated to begin submitting financial disclosures to the Securities and Exchange Commission after the date of enactment (by a recorded vote of 194 ayes to 221 noes, Roll No. 58); and
      • Carolyn B. Maloney (NY) amendment (No. 7 printed in part A of H. Rept. 114-414) that sought to repeal the Small Company Disclosure Act (H.R. 1965) in its entirety from the bill thus preserving the SEC requirement that public companies report their information related to corporate financial performance as searchable data (by a recorded vote of 173 ayes to 248 noes, Roll No. 59).
    • H. Res. 595, the rule providing for consideration of the bills (H.R. 1675) and (H.R. 766) was agreed to by a recorded vote of 242 ayes to 175 noes, Roll No. 56, after the previous question was ordered by a recorded vote of 240 ayes to 176 noes, Roll No. 55.

Today:

  • On Thursday, the House will meet at 10:00 a.m. for legislative business. First and last votes expected: 11:30 a.m.-12:30 p.m.
  • H.R. 766 – Financial Institution Customer Protection Act of 2015 (Structured Rule) (Sponsored by Rep. Blaine Luetkemeyer / Financial Services Committee)
  • The Rule provides for one hour of general debate and makes in order the following amendments:
    • Rep. Brad Sherman Amendment (10 minutes of debate)
    • Rep. Paul Gosar Amendment (10 minutes of debate)

 

Senate

 

Yesterday:

  • Measures Considered:
  • Energy Policy Modernization Act–Agreement: Senate continued consideration of S. 2012, to provide for the modernization of the energy policy of the United States, and taking action on the following amendments proposed thereto:
  • Pending:
    • Murkowski Amendment No. 2953, in the nature of a substitute.
    • Murkowski (for Cassidy/Markey) Amendment No. 2954 (to Amendment No. 2953), to provide for certain increases in, and limitations on, the drawdown and sales of the Strategic Petroleum Reserve.
    • Murkowski Amendment No. 2963 (to Amendment No. 2953), to modify a provision relating to bulk-power system reliability impact statements.
  • A unanimous-consent agreement was reached providing for further consideration of the bill at approximately 10 a.m., on Thursday, February 4, 2016, and that the time until 11 a.m. be equally divided between the two managers, or their designees.
  • North Korea Sanctions Enforcement Act–Agreement: A unanimous-consent-time agreement was reached providing that following morning business on Wednesday, February 10, 2016, Senate begin consideration of H.R. 757, to improve the enforcement of sanctions against the Government of North Korea, that there be up to seven hours of debate, equally divided in the usual form; that following the use or yielding back of that time, the committee reported amendment be agreed to; and Senate vote on passage of the bill, with no intervening action or debate.

Today:

  • The Senate stands adjourned until 10:00am on Thursday, February 4, 2016.
  • Following any leader remarks, the Senate will resume consideration of Calendar #218, S.2012, Energy Policy Modernization Act, until 11:00am with the time equally divided between the two managers or their designees.
  • At 11:00am, there will be a roll call vote on the motion to invoke cloture on Murkowski amendment #2953 (substitute) to S.2012.
  • As a reminder, tonight the Senate reached an agreement that following morning business on Wednesday, February 10, the Senate proceed to the consideration of Calendar #359, H.R.757, North Korea Sanctions. There will be up to 7 hours of debate equally divided in the usual form. Following the use or yielding back of time, the committee-reported amendment will be agreed to and the Senate will vote on the bill, as amended.
  • Amendments pending to S.2012, Energy Policy Modernization Act of 2015
    • Murkowski amendment #2953 (substitute)
    • Cassidy amendment #2954 (Strategic Petroleum Reserve)
    • Murkowski amendment #2963 (bulk power system reliability)

 

Hearings Covered by W&J Today

 

Bipartisan Policy Center
“USPS: The Path to Profitability”

House Oversight and Government Reform Committee
“Developments in the Prescription Drug Market: Oversight”

House Energy and Commerce Committee
“Examining Implementation of the Biologics Price Competition and Innovation Act”

 

Notable Legislation Introduced

 

FINANCIAL SERVICES

H.R.4448: To amend the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to secure the authority of State and local governments to adopt and enforce measures restricting investment in business enterprises in Iran, and for other purposes.
Sponsor: Rep DeSantis, Ron [FL-6] (introduced 2/3/2016) Cosponsors (20)
Committees: House Financial Services
Latest Major Action: 2/3/2016 Referred to House committee. Status: Referred to the House Committee on Financial Services.

H.R.4450: To amend title 31, United States Code, to ensure that persons who form corporations or limited liability companies in the United States disclose the beneficial owners of those corporations or limited liability companies, in order to prevent wrongdoers from exploiting United States corporations and limited liability companies for criminal gain, to assist law enforcement in detecting, preventing, and punishing terrorism, money laundering, and other misconduct involving United States corporations and limited liability companies, and for other purposes.
Sponsor: Rep Maloney, Carolyn B. [NY-12] (introduced 2/3/2016) Cosponsors (5)
Committees: House Financial Services
Latest Major Action: 2/3/2016 Referred to House committee. Status: Referred to the House Committee on Financial Services.

S.2489: A bill to ensure that persons who form corporations in the United States disclose the beneficial owners of those corporations, in order to prevent the formation of corporations with hidden owners, stop the misuse of United States corporations by wrongdoers, and assist law enforcement in detecting, preventing, and punishing terrorism, money laundering, tax evasion, and other criminal and civil misconduct involving United States corporations, and for other purposes.
Sponsor: Sen Whitehouse, Sheldon [RI] (introduced 2/3/2016) Cosponsors (1)
Committees: Senate Judiciary
Latest Major Action: 2/3/2016 Referred to Senate committee. Status: Read twice and referred to the Committee on the Judiciary.

HEALTH

H.R.4442: To amend titles XVIII and XI of the Social Security Act to promote cost savings and quality care under the Medicare program through the use of telehealth and remote patient monitoring services, and for other purposes.
Sponsor: Rep Black, Diane [TN-6] (introduced 2/3/2016) Cosponsors (3)
Committees: House Energy and Commerce; House Ways and Means
Latest Major Action: 2/3/2016 Referred to House committee. Status: 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 concerned.

H.R.4447: Making appropriations to address the heroin and opioid drug abuse epidemic for the fiscal year ending September 30, 2016, and for other purposes.
Sponsor: Rep Courtney, Joe [CT-2] (introduced 2/3/2016) Cosponsors (9)
Committees: House Appropriations; House Budget
Latest Major Action: 2/3/2016 Referred to House committee. Status: Referred to the Committee on Appropriations, and in addition to the Committee on the Budget, 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 concerned.

SANCTIONS

S.2485: A bill to provide for the immediate reinstatement of sanctions against Iran if Iran attempts to acquire nuclear weapons technology from North Korea.
Sponsor: Sen Thune, John [SD] (introduced 2/3/2016) Cosponsors (3)
Committees: Senate Foreign Relations
Latest Major Action: 2/3/2016 Referred to Senate committee. Status: Read twice and referred to the Committee on Foreign Relations.

TAX

H.R.4459: To amend the Internal Revenue Code of 1986 to require the Secretary of the Treasury to issue identity protection personal identification numbers with respect to identity theft-related tax fraud.
Sponsor: Rep Wagner, Ann [MO-2] (introduced 2/3/2016) Cosponsors (None)
Committees: House Ways and Means
Latest Major Action: 2/3/2016 Referred to House committee. Status: Referred to the House Committee on Ways and Means.

S.2492: A bill to amend the Internal Revenue Code of 1986 to provide matching payments for retirement savings contributions by certain individuals.
Sponsor: Sen Wyden, Ron [OR] (introduced 2/3/2016) Cosponsors (4)
Committees: Senate Finance
Latest Major Action: 2/3/2016 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

TRANSPORTATION

H.R.4441: To transfer operation of air traffic services currently provided by the Federal Aviation Administration to a separate not-for-profit corporate entity, to reauthorize and streamline programs of the Federal Aviation Administration, and for other purposes.
Sponsor: Rep Shuster, Bill [PA-9] (introduced 2/3/2016) Cosponsors (1)
Committees: House Transportation and Infrastructure
Latest Major Action: 2/3/2016 Referred to House committee. Status: Referred to the House Committee on Transportation and Infrastructure.

H.R.4449: To direct the Secretary of Transportation to establish a remote air traffic control tower pilot program.
Sponsor: Rep Katko, John [NY-24] (introduced 2/3/2016) Cosponsors (1)
Committees: House Transportation and Infrastructure
Latest Major Action: 2/3/2016 Referred to House committee. Status: Referred to the House Committee on Transportation and Infrastructure.

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