Congress · 117th Congress
Biden makes it official: Young gets OMB director nod
The Congressional Black Caucus also backed her bid for the No. 1 slot at OMB.
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Policy · 117th Congress
Biden to stay with Powell as Fed chairman
Corrected 1:39 p.m. | President Joe Biden said Monday he plans to stick with Jerome Powell as Federal Reserve chair, supporting continuity in leadership as annual inflation topped 6 percent last month
Congress · 117th Congress
House passes budget package after cost concerns abate
McCarthy filibuster House passage came Friday morning, after a stemwinder of a speech from Minority Leader Kevin McCarthy, R-Calif., that went for more than 8 1/2 hours — breaking the previous record
Opinion · 117th Congress
It’s time to fix the broken Senate confirmation process
At the Department of Transportation, which will play a big role in implementing the $1 trillion infrastructure law, nominations awaiting Senate consideration include assistant secretaries responsible
Policy · 117th Congress
SEC’s Peirce sees room to regulate stablecoins through bank ‘lens’
The President’s Working Group on Financial Markets, a task force of regulators focused on promoting market stability, issued a report on Nov. 1 calling on Congress to move quickly to enact legislation
Congress · 117th Congress
Armed with tax estimate, House moves toward vote on budget bill
p> Taxes on corporations are estimated at roughly $814 billion, down about $150 billion from the September package, while high-income individuals would face $640 billion in tax increases, down from $1
Congress · 117th Congress
Tax changes keep coming as Democrats seek budget bill votes
Now the bill includes a one-year expansion and almost $4 billion available through 2026 for the IRS, along with another $1 billion for the Treasury Department to support enrollment and administration
Congress · 117th Congress
Debt ceiling hangs over Democrats’ legislative home stretch
mark up the revised budget in committee, rather than employ a special “auto discharge” procedure Democrats were able to use for the initial fiscal 2022 budget since the panel didn’t act before an April 1
Congress · 117th Congress
Two-year spending caps deal on the table in appropriations talks
Appropriators remain stalled over the budget ceiling for the fiscal year that began Oct. 1 and how to allocate discretionary funds among their 12 subcommittees.
Policy · 117th Congress
Lawmakers clash over surprise billing law’s implementation
influential voices in the health care industry that spent millions trying to influence the law are pushing the Biden administration to amend its surprise billing policies before the law takes effect on Jan. 1.
Congress · 117th Congress
Bipartisan debt limit patch would raise borrowing cap by $480B
Those spending caps came off starting with the fiscal year that began Oct. 1.
Congress · 117th Congress
Democrats, Republicans agree to short-term debt limit increase
benefits scheduled for Oct. 20 could be delayed by five days.Food stamp benefits due Oct. 25 would be delayed by a week.Federal employee salaries due to be paid Oct. 29 could be postponed by 11 days.Nov. 1
Congress · 117th Congress
Biden signs short-term spending bill, averting shutdown
The House voted 220-211 along party lines last week to send the original bill, with the debt limit language, to the Senate after removing a provision that would have provided $1 billion for Israel
Congress · 117th Congress
Debt ceiling bill stalls again in Senate as pressure grows
The House-passed measure did not include $1 billion requested for Israel’s Iron Dome rocket defense system after progressives protested the provision.
Congress · 117th Congress
Lawmakers scramble for Plan B on stopgap funds, debt ceiling
Before House passage, Democratic leaders removed $1 billion for the Iron Dome system, an Israeli government request after 12 days of rocket attacks from the Gaza Strip in May.
Heard On The Hill · 117th Congress
Photos of the week ending Sept. 24, 2021
(Bill Clark/CQ Roll Call) [jwp-video n=”1″]
Congress · 117th Congress
Bipartisan Policy Center: Debt limit breach possible after Oct. 15
The BPC estimated that the debt limit would be reinstated the following day at $30.8 trillion, or $2.4 trillion above where it was reinstated on Aug. 1 after the last suspension in 2019.
Congress · 117th Congress
Many lingering questions despite ‘framework’ for reconciliation offsets
Biden wanted to start taxing gains on inherited assets above $1 million, or $2.5 million per couple factoring in the current tax exclusion for up to $500,000 in gains on a primary residence.
Congress · 117th Congress
Potential fallback for debt ceiling fraught with complications
In the Senate, if the Budget Committee has not reported a budget resolution by April 1, the deadline in budget law, one or more budget resolutions can be introduced after that date and automatically
Congress · 117th Congress
House passes stopgap funding, debt ceiling suspension bill
The package advanced after a few hours of drama earlier in the day over an initial decision to grant Israel’s $1 billion request for air defense system funds.