The Cloakroom: October 3 – October 7

House Cloakroom: 
Analysis:  This week that House will return to take final action on the Continuing Resolution to fund the government through November 18th.  This bill is similar to the orginial House Continuing Resolution; however, the Senate removed FEMA funding for the remained for fiscal year 2011 and the related offsets after FEMA released a letter stating they did not need additional money before the new fiscal Year.  The House will then move to two bills intended to restrict environmental regulations, one of which specifically involves the cement industry.
Major Floor Action:
  • HR 2017 – Continuing Appropriations Act
  • HR 2681 – Cement Sector Regulatory Relief Act
  • HR 2250 – EPA Regulatory Relief Act
Major Committee Action:
  • The House Foreign Affairs Committee will hold a hearing on the “Importance of Taiwan.”
  • The House Armed Services Committee will hold a hearing on ” National Defense and US Military Assessment.”
  • The House Financial Services Subcommittee on Insurance, Housing and Community Opportunity will hold a hearing on the “Response the Housing Finance Crisis.”
  • The House Judiciary Committee will hold a hearing on the “Balanced Budget Amendment.”
Senate Cloakroom: 
Analysis:  When the Senate returns from its recess on Monday they will take up legislation targeting China for their currency manipulation.  The Currency Exchange Rate Oversight Reform Act is intended to allow the U.S. government to retaliate against the Chinese for keeping their currency artificially low relative to the dollar.  There are expected to be several amendments to the bill, including on by Senator Cornyn (R-TX) that would require the administration to sell some F-16 fighter jets to Taiwan.
Major Floor Action:
  • S 1619 – The Currency Exchange Rate Oversight Reform Act
Major Committee Action:
  • The Senate Budget Committee will hold a hearing on “Effective Congressional Budgeting Strategies”
  • The Senate Energy and Natural Resources Committee will hold a hearing on the “Shale Gas Production Report.”
  • The Senate Banking, Housing and Urban Affairs Subcommittee on Economic Policy will hold a hearing on the “Implications on Budget Deficits.”
  • The Senate Judiciary Committee will hold a hearing on “The Role of Judges.”
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