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This week, the House is expected to consider the “Ozone Standards Implementation Act of 2017” (H.R. 806); “21st Century Aviation Innovation, Reform, and Reauthorization Act” (H.R. 2997) (FAA Reauthorization); and “Promoting Interagency Coordination for Review of Natural Gas Pipelines Act” (H.R. 2910). The House will also continue at a furious pace to pass all twelve annual appropriations bills out of the committee so that they can be bundled into a large omnibus spending package with designs on passing the legislation before the August recess. The Senate has announced that it will delay leaving for its August recess for two weeks. All of this is occurring while the Congress has not adopted a budget resolution. In fact, strategy disagreements have delayed even a House Budget Committee markup. Whether the House follows suit on the August recess is unknown as House Speaker Paul Ryan (R-WI) toys with the idea of following the Senate’s lead.
The Senate is scheduled to vote on the cloture motion on the nomination of Patrick M. Shanahan to be Deputy Secretary of Defense. On the tax front, today CUNA President and CEO will submit a letter to Senate Finance Committee Chairman Orrin Hatch (R-UT) in defense of the credit union tax status. Hatch has called for stakeholder input as the Senate proceeds with hearings on comprehensive tax reform.
The Senate Finance Committee will hold a full Committee Hearing: "Comprehensive Tax Reform: Prospects and Challenges."
The Senate Banking, Housing and Urban Affairs Committee will conduct a hearing on the following nominations:
Mr. J. Paul Compton, Jr., of Alabama, to be General Counsel, U.S. Department of Housing and Urban Development;
Ms. Anna M. Farias, of Texas, to be Assistant Secretary for Fair Housing and Equal Opportunity, U.S. Department of Housing and Urban Development;
Mr. Neal J. Rackleff, of Texas, to be Assistant Secretary for Community Planning and Development, U.S. Department of Housing and Urban Development;
Mr. Richard Ashooh, of New Hampshire, to be Assistant Secretary for Export Administration, U.S. Department of Commerce;
Ms. Elizabeth Erin Walsh, of the District of Columbia, to be Assistant Secretary for Global Markets and Director General of the United States and Foreign Commercial Service, U.S. Department of Commerce; and
Mr. Christopher Campbell, of California, to be Assistant Secretary for Financial Institutions, U.S. Department of the Treasury.
The House Committee on Financial Services Subcommittee on Terrorism and Illicit Finance will hold a hearing: “Managing Terrorism Financing Risk in Remittances and Money Transfers”
The House Committee on Financial Services Subcommittee on Capital Markets, Securities and Investment will hold a hearing entitled “The Cost of Being a Public Company in Light of Sarbanes-Oxley and the Federalization of Corporate Governance.”
The House Committee on Financial Services Subcommittee on Monetary Policy and Trade will hold a hearing: “Restricting North Korea’s Access to Finance”
The House Committee on Ways and Means Tax Policy Subcommittee will hold a hearing on “How Tax Reform Will Simplify Our Broken Tax Code and Help Individuals and Families.”
The House Committee on Financial Services Subcommittee on Monetary Policy and Trade will hold a hearing: “Monetary Policy v. Fiscal Policy: Risks to Price Stability and the Economy”
The Senate Banking, Housing and Urban Affairs Committee will hold a hearing: "Housing Finance Reform: Maintaining Access for Small Lenders."
The witnesses will be:
Ms. Brenda Hughes, Senior Vice President and Director of Mortgage and Retail Lending, First Federal Savings Bank of Twin Falls, on behalf of the American Bankers Association (ABA);
Mr. Jack E. Hopkins, President and CEO, CorTrust Bank, N.A., on behalf of the Independent Community Bankers of America (ICBA);
Mr. Charles M. Purvis, President and CEO, Coastal Federal Credit Union, on behalf of the National Association of Federally-Insured Credit Unions (NAFCU);
Mr. Wes Hunt, President, Homestar Financial Corporation, on behalf of the Community Mortgage Lenders of America (CMLA); and
Mr. Bill Giambrone, President and CEO, Platinum Home Mortgage and President, Community Home Lenders Association (CHLA).
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