House Cloakroom: June 7 – 11
Analysis:
The House returns from its Congressional recess on Tuesday and will be going over to the White House for the annual Congressional picnic. The rest of the week is pretty light with mostly suspensions bills on the House floor. The main bill for the week is a Federal Housing Authority authorization bill. Additionally, the House could possibly consider Rep. Barney Frank’s (D-MA) TARP III bill which would create a $30 billion lending program that would duplicate efforts made by the $700 billion original TARP bill.
Major Floor Action:
- H.R. 5072 – FHA Reform Act of 2010
- H.R. 5297 – Small Business Lending Fund Act of 2010 (aka TARP III)
Major Committee Action:
- Both the House Energy and Commerce Committee (field hearing in Louisiana) and the House Science and Technology Committee will hold hearings concerning the oil spill in the gulf.
- The House Ways and Means Subcommitte on Income Security and Family Support will hold a hearing on policy responses to long term unemployment.
Senate Cloakroom: June 7 – 11
Analysis:
Upon returning from a sleepy Memorial Day recess, the Senate will begin consideration of the $113 billion extenders package passed by the House. In an attempt to sooth public concern over unemployment, many liberals are referring to the extension of unemployment insurance and taxes subsidies as a “jobs bill.” Flashy messaging aside, the bill will do nothing to create jobs even though it will add more than $54 billion to our national debt while raising taxes. This will be the debate that plays out during the summer – unemployment and debt.
Major Floor Action:
- The Senate will spend the week debating and amending the American Jobs and Closing Tax Loopholes Act of 2010 (H.R.4213).
Major Committee Action:
- The Environment and Public Works Committee will hold a hearing on the Big Oil Bailout Prevention Liability Act.
- A Health, Education, Labor and Pensions subcommittee will hold a hearing on the state of American children.
