Removing Barriers Blog

House Expected to Consider Financial Services Appropriations Bill in July
Posted July 02, 2015 by CUNA Advocacy

As Congress prepares to return to Washington, House Majority Leader Kevin McCarthy (R-CA) sent GOP Members of the House of Representative a memo yesterday outlining the chamber’s agenda for the upcoming month.

The House is expected to consider the following measures:

  • Resume consideration of H.R. 2822, the Fiscal Year 2016 Interior, Environment, and Related Agencies Appropriations Act (Calvert)
  • Resume consideration of H.R. 5, the Student Success Act (Kline)
  • H.R. 2647, the Resilient Federal Forests Act (Westerman)
  • H.R. 6, the 21st Century Cures Act (Upton)
  • H.R. ____, the Fiscal Year 2016 Financial Services and General Government Appropriations Act (Crenshaw)
  • H.R. 2898, Western Water and American Food Security Act (Valadao)
  • H.R. 9, the Innovation Act (Goodlatte)
  • H.R. 427, the Regulations From the Executive in Need of Scrutiny / REINS Act (T. Young)
  • Legislation to extend authorities of the Highway Trust Fund
  • Legislation related to the Architecture of Abundance energy plan being developed by the Energy & Commerce Committee
  • Conference Report on H.R. 1735, the Fiscal Year 2016 National Defense Authorization Act (Thornberry)
  • Conference Report on H.R. 644, the Trade Facilitation and Trade Enforcement Act (Reed)
Of particular interest to credit unions is the Financial Services and General Government Appropriations Act, which includes funding for NCUA’s Community Development Revolving Loan Program and Treasury’s Community Development Financial Institution Fund.  In addition, the bill’s report includes language directing NCUA to carefully take into consideration comments the agency has received on its risk-based capital proposal – a very critical signal from the House that it continues to pay close attention to NCUA’s progress on this matter.  The FSGG Appropriations bill also includes language making a statutory change to how the Consumer Financial Protection Bureau is funded, moving the Bureau under the appropriations process.  This is something for which CUNA has advocated since the initial consideration of the Bureau in 2009.

No similar agenda has been laid out by the Senate leadership; however, the upper chamber is expected to consider an education bill in the first weeks of the month and then move on to consider legislation related to the Highway Trust Fund.  The Highway bill is expected to be used as vehicle for extension of the Export-Import Bank charter, which expired earlier this week.

For more information regarding the House schedule for July, please contact Sam Whitfield.