HASC Passes NDAA
Last week, the House Armed Services Committee (HASC) passed the National Defense Authorization Act (NDAA) out of committee by a vote of 58-1. AFSA has long worked with both the House and Senate Armed Services Committees to ensure that harmful legislation is kept out of the NDAA. Because the legislation must pass annually, Members of Congress commonly try to attach riders to the legislation.
HFSC Chair Mike Rogers (R-AL) has supported the consumer credit industry for many years and has assured AFSA that no legislation that would impose a rate cap, curtail arbitration, or expand the Military Lending Act would be included in the House bill. He also stated that he would be prepared to fight any such legislation on the House floor when the larger body votes on the bill in July. AFSA has also worked closely with Senate Armed Services Ranking Member Roger Wicker (R-MS) to ensure that the Senate text does not include harmful provisions.
The House and Senate will have to conference their two bills to pass the same uniform legislation, so final passage of the NDAA will not be until later this year. AFSA will continue to work with the Hill on these important issues and will continue to keep members apprised of any developments.
June 26th, 2023
