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Category: Budget

Senate Reports Student Loan Progress

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Senate Democrats, Republicans and the White House are reporting progress in negotiations to a student loan interest rate fix. A group of Democratic senators, including Jack Reed RI), Joe Manchin III (WV), and Elizabeth Warren of Massachusetts, along with independent Angus King (ME), have been conferring with Senate Republicans over the past 24 hours.

The plan, which is broadly based on the president’s budget proposal, may be finalized as soon as this week, according to one of the principal negotiators. All that is known at this time is that the proposal calls for shifting from the current 3.4 percent fixed interest rate to a market-driven variable interest rate. While the White House, including Education Secretary Arne Duncan and chief economic advisor Gene Sperling, have been kept in the loop about the negotiations, there is no word that the Senate is talking to the House.

Meanwhile, the House continues to debate both the Farm Bill and an abortion measure.

 

House Proceeds on Farm Bill as White House Threatens Veto

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The House will begin consideration of the Farm Bill (HR 1947) today and finish consideration on Thursday. While the House Rules Committee is still determining which amendments will be made in order, 220 amendments have been submitted to the Rules Committee.The House Rules Committee has proceeded with a rare two day consideration of the rule to determine which amendments should be made in order. The bulk of these amendments pertain to the SNAP program.

Continue reading “House Proceeds on Farm Bill as White House Threatens Veto”

Federal Update

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Congress has just two weeks before the July 4th recess week to tackle several major legislative issues. This week, the House will try to pass a five-year farm bill that contains controversial dairy policies and cuts to food stamps. It will also revive the abortion debate over a bill to ban certain abortions. In the Senate, appropriators will decide allocation levels for their twelve FY14 spending bills, and the full Senate will look for a compromise on border security that could improve prospects for immigration reform legislation (S 744).

Both the House and Senate will also continue to debate the best way to deal with student loan interest rates and the rates for subsidized Stafford student loans is scheduled to increase from 3.4 percent to 6.8 percent on July 1st. There are several proposals out there but none that have the support necessary to get approval in both chambers.

House Begins Work on National Defense Authorization Bill

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The House will begin its work on the HR 1960, the National Defense Authorization Bill (NDAA) today. Consideration of the measure is expected to go through tomorrow. The NDAA is the yearly authorization bill that determines military priorities for agencies responsible for our national defense. The legislation establishes funding levels, and sets the policies under which money will be spent.

The bill authorizes $638.4 billion for the Pentagon and defense-related programs for FY 2014, including $85.8 billion for the war in Afghanistan and other overseas contingency activities. The bill’s authorization for regular defense funding is roughly equal to the president’s request but about $50 billion more than the projected post-sequestration cap for defense pursuant to the 2011 Budget Control Act. It authorizes $8 billion for the F-35 Joint Strike Fighter and requires the development of a new missile-defense site on the East Coast that the Pentagon does not want. It also bars the use of funds for planning any future rounds of military base closings, authorizes funds for new construction at the Guantánamo Bay detention center that the president wants to close and establishes new procedures to combat sexual assault in the military.

On June 11th, the White House issued a veto threat of the measure as it was currently written. The House Armed Services Committee passed the legislation on June 5th.

The House Rules Committee has approved a structured rule on Wednesday, which limits the amount of amendments that can be considered during the Floor debate. There will be 172 amendments (70 Republican, 68 Democratic, and 38 bipartisan) considered for 10 minutes each. Nearly 300 amendments were submitted to the House Rules committee to be offered during the Floor debate. The rule makes in order a number of amendments which address controversial proposals, ranging from the Guantánamo Bay detention center to overall spending levels that dramatically exceed the caps set by sequestration.

The House will begin consideration at noon today. Rep. Adam Smith (WA) is the Ranking Member of the House Armed Services Committee and will manage the bill for the Democrats.

The Office of Federal Relations will continue to monitor the progress of the bill.

 

Immigration, Defense Authorization, and FY14 Appropriations — Oh My!

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Today in the Senate: The chamber meets this morning to continue debating a comprehensive overhaul of immigration laws (S 744).

Today in the House: The chamber is scheduled to begin general debate on a $638.4 billion defense authorization bill (HR 1960) for FY14 that includes funding and/or language for three of UW’s requests: (1) $15 million for awards to academic medical institutions for reconstructive transplants; (2) $15 million for Navy research vessels (to help with the RV Tommy Thompson); and (3) language promoting the National Marine Renewable Energy Centers for ocean renewable energy demonstration activities at or near DOD facilities (tidal energy).

FY14 Appropriations Update: Senate Republican appropriators appear ready to oppose any measures written by Democrats that exceed the discretionary spending cap set by the 2011 deficit reduction law. Next week, they will likely reject a plan from Appropriations Chairwoman Mikulski (D-MD) that would divide up $1.058 trillion among the committee’s dozen annual bills. The Senate plan is about $91 billion higher than the overall level set by House Republicans. Ironically, both plans would trigger a new round of across-the-board spending reductions under sequester because they violate the caps set by the 2011 law (PL 111-25). But the House GOP plan busts the caps in defense and other security measures while the Senate is expected to bust the caps in both defense and non-defense (domestic) bills. All of this is leading to a big fight on spending, which will certainly culminate in a continuing resolution (CR) before the federal fiscal year ends September 30th.