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Powell’s term as chairman expires in 2026 and as a board member in 2028. Of Biden’s Fed nominees, only Barr, who was nominated last month, still awaits a confirmation hearing and vote.
The committee earlier this year unanimously approved legislation that would spend more than $35 billion through fiscal 2026 on drinking water systems and wastewater projects.
Waters’ draft bill would increase the number of vouchers incrementally for five years and then guarantee subsidies for all who qualify starting in 2026.
To offset some of the added cost, the compromise amendment would extend a limit on losses some business owners can claim against other income for an extra year, through 2026.