Today’s Daily Update

The House will consider S.Con.Res. 3 – Setting forth the congressional budget for the United States Government for fiscal year 2017 and setting forth the appropriate budgetary levels for fiscal years 2018 through 2026.  The Senate will meet in a pro forma session.

House

 

Yesterday

  • Securities and Exchange Commission Regulatory Accountability Act:
    • The House passed H.R. 78, to improve the consideration by the Securities and Exchange Commission of the costs and benefits of its regulations and orders, by a recorded vote of 243 ayes to 184 noes, Roll No. 51.
  • Rejected the Bustos 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 195 ayes to 232 noes, Roll No. 50.

  • Agreed to:

    • Velazquez amendment (No. 2 printed in part A of H. Rept. 115–3) that requires the SEC consider the protection of investors, in addition to promoting efficiency, competition, and capital formation when conducting such a review and also expressly instructs the SEC to consider the public interest, the protection of investors as well as the promotion of efficiency, competition, and capital formation when conducting such a review of existing SEC regulations.

  • Rejected:
    • Al Green (TX) amendment (No. 1 printed in part A of H. Rept. 115–3) that sought to require the SEC to identify, analyze and address potential conflicts of interest related to its rulemakings (by a recorded vote of 192 ayes to 233 noes, Roll No. 46);
    • Al Green (TX) amendment (No. 3 printed in part A of H. Rept. 115–3) that sought to exempt regulations promulgated to maintain or support U.S. financial stability or prevent or reduce systemic risk (by a recorded vote of 191 ayes to 232 noes, Roll No. 47);
    • DeSaulnier amendment (No. 4 printed in part A of H. Rept. 115–3) that sought to require the Chairman of the SEC and his immediate family to divest from too-big-to-fail banks (by a recorded vote of 194 ayes to 233 noes, Roll No. 48); and
    • Raskin amendment (No. 5 printed in part A of H. Rept. 115–3) that sought to require the Chairman of the Securities and Exchange Commission to be trained on ethical standards and codes of conduct to ensure all regulations enacted are not done so with a conflict of interest, specifically regarding prior employment and legal representation of too-big-to-fail banks (by a recorded vote of 196 ayes to 231 noes, Roll No. 49).
  • H. Res. 40, the rule providing for consideration of the bills (H.R. 78) and (H.R. 238) was agreed to yesterday, January 11th.

  • Commodity End-User Relief Act:
    • The House passed H.R. 238, to reauthorize the Commodity Futures Trading Commission, to better protect futures customers, to provide end-users with market certainty, to make basic reforms to ensure transparency and accountability at the Commission, to help farmers, ranchers, and end-users manage risks, and to help keep consumer costs low, by a yea-and-nay vote of 239 yeas to 182 nays, Roll No. 54.
  • Rejected the Langevin motion to recommit the bill to the Committee on Agriculture with instructions to report the same back to the House forthwith with an amendment, by a recorded vote of 190 ayes to 235 noes, Roll No. 53.
  • Pursuant to the Rule, an amendment in the nature of a substitute consisting of the text of Rules Committee Print 115–2 shall be considered as an original bill for the purpose of amendment under the five-minute rule.

  • Agreed to:
    • Aderholt amendment (No. 1 printed in part B of H. Rept. 115–3) that amends the Commodity Exchange Act to give the Commodity Futures Trading Commission authority to designate other agencies to manage its leases;
    • Austin Scott (GA) amendment (No. 2 printed in part B of H. Rept. 115–3) that reforms the Customer Protection Fund at the CFTC to amend the size of the fund, annual expenditures from the fund and return excess balance to the Treasury;
    • Conaway amendment (No. 3 printed in part B of H. Rept. 115–3) that makes technical and conforming changes;
    • Duffy amendment (No. 5 printed in part B of H. Rept. 115–3) that prohibits the CFTC from compelling the production of algorithmic trading source code and similar intellectual property unless it has issued a subpoena;
    • LaMalfa amendment (No. 6 printed in part B of H. Rept. 115–3) that prevents a situation in which an end-user loses its ability to rely on the end-user exception to the clearing requirement due simply to the positive performance of transactions entered into solely to mitigate the prospect of falling revenues and asset values;
    • Lucas amendment (No. 7 printed in part B of H. Rept. 115–3) that exempts all inter-affiliate transactions from being regulated as “swaps” under the Dodd-Frank related provisions of the Commodity Exchange Act (”CEA”) and Commodity Futures Trading Commission (”CFTC”) regulations promulgated thereunder;
    • Hartzler amendment (No. 8 printed in part B of H. Rept. 115–3) that delays implementation of the CFTC Ownership and Control Reports Rule until the Chairman determines the rule has been amended by adjusting reporting trading volume levels to 300 contracts per day, removing the requirements for natural person controller data, and ensuring the rule does not require entities to violate foreign privacy laws; and
    • Conaway amendment (No. 4 printed in part B of H. Rept. 115–3) that makes clear Congress’s intent that the Commission may impose and implement position limits as it finds necessary, provided the Commission makes a finding prior to imposing such limits; it makes no changes to the longstanding federal position limits regime for the enumerated agricultural commodities or the existing statutory requirements that Designated Contract Markets impose position limits or accountability levels on all contracts (by a recorded vote of 236 ayes to 191 noes, Roll No. 52).
  • H. Res. 40, the rule providing for consideration of the bills (H.R. 78) and (H.R. 238) was agreed to yesterday, January 11th.
  • Joint Economic Committee–Appointment:
    • The Chair announced the Speaker’s appointment of the following Members on the part of the House to the Joint Economic Committee: Representatives Paulsen, Schweikert, Comstock, LaHood, Francis Rooney (FL), Carolyn B. Maloney (NY), Delaney, Adams, and Beyer.

Today:

  • On Friday, the House will meet at 9:00 a.m. for legislative business. First votes expected: 10:00 a.m. – 11:00 a.m. Last votes expected: 2:45 p.m. – 3:45 p.m.
  • S.Con.Res. 3 – Setting forth the congressional budget for the United States Government for fiscal year 2017 and setting forth the appropriate budgetary levels for fiscal years 2018 through 2026 (Structured Rule) (Sponsored by Sen. Michael B. Enzi / Budget Committee)
  • The Rule provides for ninety minutes of general debate controlled by the Budget Committee, thirty minutes of general debate controlled by the Joint Economic Committee, and makes in order the following amendment:
    • Rep. John Yarmuth Amendment in the Nature of a Substitute (20 minutes of debate)
      S. 84 – To provide for an exception to a limitation against appointment of persons as Secretary of Defense within seven years of relief from active duty as a regular commissioned officer of the Armed Forces (Closed Rule, Ninety Minutes of Debate) (Sponsored by Sen. John McCain / Armed Services Committee)

 

Senate

 

Yesterday

  • Measures Passed:
    • Secretary of Defense Nomination Waiver:
      • By 81 yeas to 17 nays (Vote No. 27), Senate passed S. 84, to provide for an exception to a limitation against appointment of persons as Secretary of Defense within seven years of relief from active duty as a regular commissioned officer of the Armed Forces, after agreeing to the motion to proceed.
    • Commending Clemson University Tigers Football Team:
      • Senate agreed to S. Res. 14, commending the Clemson University Tigers football team for winning the 2017 College Football Playoff National Championship.
    • GAO Access and Oversight Act–Agreement:
      • A unanimous-consent-time agreement was reached providing that at 4:15 p.m., on Tuesday, January 17, 2017, Committee on Homeland Security and Governmental Affairs be discharged and Senate begin consideration of H.R. 72, to ensure the Government Accountability Office has adequate access to information; that there be 30 minutes of debate, equally divided in the usual form, and that upon the use or yielding back of time, Senate vote on passage of the bill, with no intervening action or debate.
    • Pro Forma–Agreement:
      • A unanimous-consent agreement was reached providing that Senate adjourn until 10 a.m., on Friday, January 13, 2017, for a pro forma session only, with no business being conducted; and that when Senate adjourns on Friday, January 13, 2017, it next convene at 3 p.m., on Tuesday, January 17, 2017.

Today

  • The Senate stands adjourned until 10:00am on Friday, January 13, 2017 for a pro forma session only, with no business conducted.

 

Hearings Covered by W&J Today

 

MedPAC
Medicare Part B drug payment policy issues

 

Notable Legislation Introduced

 

Financial Services

H.R.493 — 115th Congress (2017-2018)
To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require certain systemically important entities to account for the financial benefit they receive as a result of the expectations on the part of shareholders, creditors, and counterparties of such entities that the Government will shield them from losses in the event of failure, and for other purposes.
Sponsor: Rep. Capuano, Michael E. [D-MA-7] (Introduced 01/12/2017) Cosponsors: (2)
Committees: House – Financial Services
Latest Action: 01/12/2017 Referred to the House Committee on Financial Services.

H.R.492 — 115th Congress (2017-2018)
To ensure that any authority of the Mutual Mortgage Insurance Fund to borrow amounts from the Treasury is used only to pay mortgage insurance claims.
Sponsor: Rep. Capuano, Michael E. [D-MA-7] (Introduced 01/12/2017) Cosponsors: (0)
Committees: House – Financial Services
Latest Action: 01/12/2017 Referred to the House Committee on Financial Services.

H.R.491 — 115th Congress (2017-2018)
To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from the Treasury of the United States, together with interest, over a 30-year period, and for other purposes.
Sponsor: Rep. Capuano, Michael E. [D-MA-7] (Introduced 01/12/2017) Cosponsors: (0)
Committees: House – Financial Services
Latest Action: 01/12/2017 Referred to the House Committee on Financial Services.

H.R.485 — 115th Congress (2017-2018)
To amend the Federal Reserve Act to require Federal Reserve banks to interview at least one individual reflective of gender diversity and one individual reflective of racial or ethnic diversity when appointing Federal Reserve bank presidents, and for other purposes.
Sponsor: Rep. Beatty, Joyce [D-OH-3] (Introduced 01/12/2017) Cosponsors: (4)
Committees: House – Financial Services
Latest Action: 01/12/2017 Referred to the House Committee on Financial Services.

H.R.482 — 115th Congress (2017-2018)
To nullify certain regulations and notices of the Department of Housing and Urban Development, and for other purposes.
Sponsor: Rep. Gosar, Paul A. [R-AZ-4] (Introduced 01/12/2017) Cosponsors: (20)
Committees: House – Financial Services
Latest Action: 01/12/2017 Referred to the House Committee on Financial Services.

H.R.477 — 115th Congress (2017-2018)
To amend the Securities Exchange Act of 1934 to exempt from registration brokers performing services in connection with the transfer of ownership of smaller privately held companies.
Sponsor: Rep. Huizenga, Bill [R-MI-2] (Introduced 01/12/2017) Cosponsors: (2)
Committees: House – Financial Services
Latest Action: 01/12/2017 Referred to the House Committee on Financial Services.

Health

H.R.508 — 115th Congress (2017-2018)
To expand Medicare coverage to include eyeglasses, hearing aids, and dental care.
Sponsor: Rep. Roybal-Allard, Lucille [D-CA-40] (Introduced 01/12/2017) Cosponsors: (121)
Committees: House – Energy and Commerce, Ways and Means
Latest Action: 01/12/2017 Referred to House Ways and Means

H.R.499 — 115th Congress (2017-2018)
To require members of Congress and congressional staff to abide by the Patient Protection and Affordable Care Act with respect to health insurance coverage, and for other purposes.
Sponsor: Rep. DeSantis, Ron [R-FL-6] (Introduced 01/12/2017) Cosponsors: (0)
Committees: House – Oversight and Government Reform, House Administration, Ways and Means, Energy and Commerce
Latest Action: 01/12/2017 Referred to House Energy and Commerce

S.124 — 115th Congress (2017-2018)
A bill to prohibit brand name drug companies from compensating generic drug companies to delay the entry of a generic drug into the market.
Sponsor: Sen. Klobuchar, Amy [D-MN] (Introduced 01/12/2017) Cosponsors: (1)
Committees: Senate – Judiciary
Latest Action: 01/12/2017 Read twice and referred to the Committee on the Judiciary.

S.109 — 115th Congress (2017-2018)
A bill to amend title XVIII of the Social Security Act to provide for coverage under the Medicare program of pharmacist services.
Sponsor: Sen. Grassley, Chuck [R-IA] (Introduced 01/12/2017) Cosponsors: (26)
Committees: Senate – Finance
Latest Action: 01/12/2017 Read twice and referred to the Committee on Finance.

S.106 — 115th Congress (2017-2018)
A bill to repeal the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 entirely.
Sponsor: Sen. Cruz, Ted [R-TX] (Introduced 01/12/2017) Cosponsors: (3)
Committees: Senate – Finance
Latest Action: 01/12/2017 Read twice and referred to the Committee on Finance.

Tax

H.R.500 — 115th Congress (2017-2018)
To amend the Internal Revenue Code of 1986 to exclude from gross income any discharge of indebtedness income on education loans of deceased or disabled veterans.
Sponsor: Rep. DesJarlais, Scott [R-TN-4] (Introduced 01/12/2017) Cosponsors: (14)
Committees: House – Ways and Means
Latest Action: 01/12/2017 Referred to the House Committee on Ways and Means.

H.R.488 — 115th Congress (2017-2018)
To amend the Internal Revenue Code of 1986 to allow a credit against income tax for amounts paid by a spouse of a member of the Armed Forces for a new State license or certification required by reason of a permanent change in the duty station of such member to another State.
Sponsor: Rep. Cartwright, Matt [D-PA-17] (Introduced 01/12/2017) Cosponsors: (57)
Committees: House – Ways and Means
Latest Action: 01/12/2017 Referred to the House Committee on Ways and Means.

H.R.480 — 115th Congress (2017-2018)
To amend the Internal Revenue Code of 1986 to allow qualified scholarship funding corporations to access tax-exempt financing for alternative private student loans.
Sponsor: Rep. Flores, Bill [R-TX-17] (Introduced 01/12/2017) Cosponsors: (0)
Committees: House – Ways and Means
Latest Action: 01/12/2017 Referred to the House Committee on Ways and Means.

S.143 — 115th Congress (2017-2018)
A bill to amend the Internal Revenue Code of 1986 to allow a credit against income tax for amounts paid by a spouse of a member of the Armed Forces for a new State license or certification required by reason of a permanent change in the duty station of such member to another State.
Sponsor: Sen. Casey, Robert P., Jr. [D-PA] (Introduced 01/12/2017) Cosponsors: (4)
Committees: Senate – Finance
Latest Action: 01/12/2017 Read twice and referred to the Committee on Finance.

S.108 — 115th Congress (2017-2018)
A bill to amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices.
Sponsor: Sen. Hatch, Orrin G. [R-UT] (Introduced 01/12/2017) Cosponsors: (9)
Committees: Senate – Finance
Latest Action: 01/12/2017 Read twice and referred to the Committee on Finance.

 

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