The House and Senate convene today at noon and 3 p.m., respectively.
FY 2019 Appropriations. The chamber is gearing up to tackle its second “minibus” spending package for fiscal year 2019. The House Rules Committee is meeting at 5 p.m. today to draft a rule for floor consideration of R. 6147, which contains the spending bills for Financial Services and Interior-Environment. The funding measure would, among other things, provide $11.6 billion for the IRS and $1.66 billion for the SEC. H.R. 6147 could hit the floor as early as Tuesday, July 17.
Carbon Tax. Lawmakers will vote on a resolution that expresses the sense of Congress that a carbon tax would be detrimental to the U.S. economy.
Powell Talks Economy. Federal Reserve Chairman Jerome Powell is scheduled to appear before the House Financial Services Committee on Wednesday to deliver his monetary policy report and an update on the state of the economy.
Trade Hearing. The House Ways and Means Committee has a hearing on Wednesday to examine the impact of tariffs on U.S. agricultural and rural communities.
Vote. The chamber will vote today on the nomination of Scott Stump to be the assistant secretary for career, technical, and adult education at the Department of Education.
FAA Bill. Republicans are looking to circulate an updated version of their FAA reauthorization bill this week. The plan is to identify and eliminate any problematic provisions that might cause a delay before the bill is taken up for consideration.
Kraninger in the Hot Seat. Kathy Kraninger, nominee to be the CFPB director, will come before the Senate Banking Committee on July 19 for her confirmation hearing. Democrats on the panel are expected to grill the nominee on her lack of experience in consumer financial regulation.
Key Hearings and Meetings
- House Rules Committee. Meeting on H.R. 6147, the spending package for Financial Services and Interior-EPA.
- SEC. Meeting of the Fixed Income Market Structure Advisory Committee. See the full agenda here.
- Tuesday, 7/17
- House Financial Services Committee. Subcommittee hearing on “Examining Capital Regimes for Financial Institutions.
- Senate Banking Committee. Hearing to examine the Semiannual Monetary Policy Report to the Congress with Federal Reserve Chair Jerome Powell testifying.
- Financial Stability Oversight Council. Executive meeting to discuss an application to the council from a bank holding company or its successor under section 117 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, an update on the annual reevaluation of the designation of a nonbank financial company, and an update on Federal Reserve stress tests.
- Senate Finance Committee. Hearing to examine trade and commerce at U.S. ports of entry.
- House Ways and Means Committee. Subcommittee hearing on the “Effects of Tariffs on U.S. Agriculture and Rural Communities.”
- House Financial Services Committee. Committee hearing on monetary policy and the state of the economy with Federal Reserve Chair Jerome Powell.
- House Financial Services Committee. Subcommittee hearing on “The Future of Money: Digital Currency.”
- SEC. Open meeting to discuss: Securities Act Rule 701; Securities Act Form S-8; Rule 3-10 and 3-16 of Regulation S-X; NMS Stock Alternative Trading Systems.
- Senate Banking Committee. Hearing for the nominations of Kathy Kraninger to be CFPB director and Kimberly Reed to be president of the Export-Import Bank.
- House Permanent Select Committee on Intelligence. Hearing on “China’s Threat to American Government and Private Sector Research and Innovation Leadership.”