Today In Washington
January 8, 2018
Source: AEO Government Relations Team, Madison Services Group
115th Congress, Session II
Today, the House joins the Senate to begin the Second Session of the 115th Congress.
With the January 19 deadline fast approaching, negotiations on FY 2018 federal funding are expected to intensify this week. Talks will center on a two-year plan to lift the mandatory spending caps — also called “sequestration” — imposed by the “Budget Control Act of 2011.” Once that deal is negotiated, the focus will pivot to how the expected $1.2 trillion will be distributed between defense and domestic programs. GOP leadership wants higher Pentagon spending, and Democrats are demanding that increased defense spending be paired with a corresponding boost in domestic spending. As a reminder, unlike the tax bill which was passed through reconciliation, FY 2018 funding bills will require 60 votes to pass. With Senator Doug Jones (D-AL) narrowing the GOP’s majority, nine Democrats will be needed to pass the funding measure.
S. 1383, the “Retirement Security Act of 2017,” introduced by Senator Susan Collins (R-ME). This bill amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) to modify various requirements for employer-provided retirement plans.