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Cloakroom: The House and Senate This Week

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House Cloakroom: July 23 – July 27

Analysis: This week, the House is going to focus on untangling some of the massive amounts of red tape that exist in the federal bureaucracy. The Red Tape Reduction Act is an amalgamation of bills that includes a regulatory freeze during the current state of high unemployment and requires financial regulators to perform cost/benefit analyses on new regulations, among other reforms. In an energy-focused bill, the House will vote to replace the Obama Administration’s offshore drilling plan with one that will open up additional areas of the outer continental shelf to leasing. Additionally, the House will consider a bill that would initiate an audit of the Federal Reserve.

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Senate Cloakroom: July 23 – July 27

Analysis: This week in the Senate is expected to be very fluid. Majority Leader Harry Reid (D-NV) is preparing his massive tax increase bill that reflects President Obama’s plan for dealing with Taxmageddon at the end of this year. Heritage outlines the full impact of this fiscal cliff on you and your family here. The Senate could also consider the problematic Lieberman-Collins Cybersecurity bill.

Major Floor Action:

Major Committee Action:

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