Congress Back to Work
Congress is back in session next week and has a full legislative agenda to work on in the months ahead.
Impeachment: The House is likely to send its impeachment articles against Homeland Security Secretary Alejandro Mayorkas to the Senate next week, triggering the trial process. Senate Majority Leader Chuck Schumer (D-NY) can bypass a trial with a simple majority vote if the Democrat Senators stick together.
Foreign Intelligence Surveillance Act: FISA reauthorization has been delayed for months in the House due to a bipartisan disagreement between the House Intelligence and Judiciary Committees. It expires on April 19, and the House will likely act on this package before any foreign aid package is considered.
Foreign Aid: If Speaker Mike Johnson (R-LA) is able to pass a foreign aid bill through the House, it is likely to be significantly different than the Senate-passed bill. Speaker Johnson has proposed converting U.S. aid to Ukraine into a loan while attaching energy provisions and the REPO Act. A significantly different bill would require Senate action as well.
Francis Scott Key Bridge: The Biden administration is planning on asking for a package to help rebuild the Francis Scott Key Bridge this week. Senate Minority Leader Mitch McConnell (R-KY) has said that the “federal government will step up” and pay for the “lion’s share of” repairs to the Baltimore bridge.
After these time sensitive issues, legislation on TikTok, taxes, railway safety, cannabis banking, executive pay clawbacks, and kids’ online safety could reach the floor as well.
In the background of all this legislation, other Congressional business is still going on and AFSA is monitoring how it affects the financial services industry. Next week, the House Financial Services Committee is holding a hearing on the SEC Climate Disclosure Rule. AFSA supported rescinding the rule in 2022 and will be watching the hearing.
April 4th, 2024 by gmcgurn@afsamail.org
