Congressional Focus
In This Issue:
- Congressional Focus: Fiscal issues continue to dominate the agenda, with House/Senate budget conference committee set to begin deliberations Oct. 30...
- Dodd-Frank: Senate effort underway to introduce "parity" bill...
- Energy Policy: FERC chair nominee withdraws; Shaheen-Portman still in limbo in Senate but House showing interest...
- Cyber Security: Draft NIST Framework released...
Congressional Overview
After a 16-day government shutdown, Congress reached a short-term agreement to reopen the government, temporarily increase the debt ceiling, and set up a House-Senate Conference Committee on the Budget to craft a longer term deal. It is unclear if real progress will be made or if the legislative branch will continue to "kick the can" down the road on all fiscal fronts.
Per the short-term agreement, the government will be funded through Jan. 15, when next year’s automatic sequestration cuts are due to kick in; the debt ceiling is raised until Feb. 7. Changes to the Affordable Care Act sought by Republicans were limited to a new requirement for income verification in order to be eligible for subsidies.
On Oct. 30, Senate Budget Chair Patty Murray (D-WA) and House Budget Chair Paul Ryan (R-WI) will convene the budget conference committee to see if they can reconcile differences between the Senate-passed Fiscal Year 2014 (FY14) budget resolution which provides for $1.058 trillion in spending and the House version which provides for $967 billion. The Committee has until Dec. 13 to develop a framework to move forward with one overall number for FY14 federal spending.
It remains to be seen how voters – and the political parties - will interpret the result of the politically-toxic stalemate. Polls say the developments were bad politically for everyone involved, but especially bad for Republicans.