Today In Washington
January 17, 2018
Source: AEO Government Relations Team, Madison Services Group
Late last night, the House Appropriations Committee introduced H.J.Res. 125, a continuing appropriations resolution (CR) to fund the government through February 16, 2018. The CR was negotiated by House GOP leadership yesterday after the collapse of bipartisan talks on an extension of the Deferred Action for Childhood Arrivals program (DACA) to protect Dreamers — children brought by their parents to the U.S. illegally. The bill is designed to persuade reluctant Democrats who want a DACA deal, and Republicans who are loathe to vote for another short-term funding bill, to support the measure by including provisions that both parties have been advocating for over the past year. As a reminder, the current CR expires on Friday. You can find the press release from the House Appropriations Committee here.
The bill includes provisions that would:
• Authorize the SBA to shift funds appropriated in this bill, to support increased demand for the 7(a) Loan program.
• Authorize the Children’s Health Insurance Program (CHIP) through FY 2023.
• Extend the moratorium on the Obamacare medical device tax through December 31, 2019.
• Delay the Obamacare excise tax on high-cost employer-sponsored healthcare — “Cadillac Plans”— through December 31, 2021.
• Suspend the annual Obamacare fee on health insurance providers until December 31, 2019.
The House is scheduled to take up the measure on Thursday, with the vote expected to be very close. In the Senate — where nine Democrats will be required to pass the bill — the outlook for the measure is not yet clear.
Today at 10 a.m.: House Financial Services Committee’s multiple-bill “Markup,” taking place at 2128 Rayburn House Office Building. Among the bills being considered:
• H.R. 1264, the “Community Financial Institution Exemption Act,” introduced by Rep. Roger Williams (R-TX). This bill amends the Consumer Financial Protection Act of 2010 to exempt community financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau (CFPB).
• H.R. 4061, the “Financial Stability Oversight Council Improvement Act of 2017,” introduced by Rep. Dennis Ross (R-FL). This bill amends the Financial Stability Act of 2010 to improve the transparency of the Financial Stability Oversight Council, and to improve the Systemically Important Financial Institution (SIFI) designation process.
• H.R. 4725, the “Community Bank Reporting Relief Act,” introduced by Rep. Randy Hultgren (R-IL). This bill amends the Federal Deposit Insurance Act to require short form call reports for certain depository institutions.
• H.R. 4771, the “Small Bank Holding Company Relief Act of 2018,” introduced by Rep. Mia Love (R-UT). This bill raises the consolidated asset threshold under the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors from $1 billion to $3 billion. Bill text can be found here.
• H.R. 4790, the “Volcker Rule Regulatory Harmonization Act,” introduced by Rep. French Hill (R-AR). This bill gives the Board of Governors of the Federal Reserve System sole rulemaking authority, and excludes community banks from the requirements of the Volker rule. Bill text can be found here.
• H.R.4785, the “American Customer Information Protection Act,” introduced by Rep. Bill Huizenga (R-MI). This bill prohibits the consolidated audit trail from accepting personally identifying information. Bill text can be found here.
• H.R. 4792, the “Small Business Access to Capital After a Natural Disaster Act,” introduced by Rep. Nydia Velazquez (D-NY). This bill amends the Securities Exchange Act of 1934 to expand access to capital for small businesses affected by hurricanes or other natural disasters. Bill text can be found here.
Today at 11 a.m.: House Small Business Committee’s “Strengthening SBA’s 7(a) Loan Program,” taking place at 2360 Rayburn House Office Building.
Thursday at 10 a.m.: House Small Business Subcommittee on Agriculture, Energy & Trade’s “Engaging Energy: Small Business Resources at the Department of Energy,” taking place at 2360 Rayburn House Office Building.