Removing Barriers Blog

The Week Ahead in Washington - October 9, 2017
Posted October 09,2017 by CUNA Advocacy

The Senate is in recess this week but the House of Representatives is open and we expect a busy week!  Last week, the House of Representatives passed a budget resolution for fiscal year (fy) 2018 by a vote of 219-206.  As with its Senate counterpart, it provides for $1.5 trillion of tax relief/reform over the next ten years.  The Senate Budget Committee passed its version of a budget resolution and will be considered on the Senate floor the week of October 16.  Once the budget passes the full Senate (only 51 votes needed because it is concurrent resolution), the conference committee with House will kick into overdrive so a compromise bill can be sent back to both bodies for final passage.  No presidential signature required.  The urgency is in part because tax reform/relief won’t be released until the budget resolution is complete.  Now is a good time to contact your lawmakers and tell them to not alter or eliminate the federal credit union income tax status.  Congress is planning to have tax reform passed and signed into law by the end of this year. 

Last week, the White House sent its second hurricane supplemental to Congress.  The request includes $12.77 for FEMA, $16 billion for NFIP debt relief (which CUNA supports), and $576.5 million for wildfires. 

This week, the House may consider the “Dr. Chris Kirkpatrick Whistleblower Protection Act of 2017” (S. 585).  The House may also consider H.R. 2997, the “21st Century AIRR Act.”  In addition, the supplemental hurricane aid bill will likely be on the House floor Thursday. 

The Senate is in recess until October 16. 


In Committee 

WEDNESDAY 

The House Committee on Financial Services will hold a markup of: 

  • HR 477, the “Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017” 
  • HR 1116, the “Taking Account of Institutions with Low Operation Risk Act of 2017” 
  • HR 1585, to amend the Securities Act of 1933 to codify certain qualifications of individuals as accredited investors for purposes of the securities laws. 
  • HR 1645, the “Fostering Innovation Act of 2017” 
  • HR 1699, the “Preserving Access to Manufactured Housing Act of 2017” 
  • HR 2121, the “Pension, Endowment, and Mutual Fund Access to Banking Act” 
  • HR 2148, the “Clarifying Commercial Real Estate Loans” 
  • HR 2201, the “Micro Offering Safe Harbor Act” 
  • HR 2396, the “Privacy Notification Technical Clarification Act” 
  • HR 2706, the “Financial Institution Customer Protection Act of 2017” 
  • HR 2954, the “Home Mortgage Disclosure Adjustment Act” 
  • HR 3072, the “Bureau of Consumer Financial Protection Examination and Reporting Threshold Act of 2017” 
  • HR 3299, the “Protecting Consumers’ Access to Credit Act of 2017” 
  • HR 3312, the “Systemic Risk Designation Improvement Act of 2017” 
  • HR 3758, the “Senior Safe Act of 2017” 
  • HR 3857, the Protecting Advice for Small Savers Act of 2017” 
  • HR 3898, the “Impeding North Korea’s Access to Finance Act of 2017” 
  • HR 3903, the “Encouraging Public Offerings Act of 2017” 
  • HR 3911, the “Risk-Based Credit Examination Act”  
  • HR 3948, the “Protection of Source Code Act” 
  • HR 3971, the “Community Institution Mortgage Relief Act of 2017” 
  • HR 3972, the “Family Office Technical Correction Act of 2017” 
  • HR 3973, the “Market Data Protection Act of 2017” 

CUNA will submit a letter to the Committee in support of certain bills. 

The House Committee on Energy and Commerce Subcommittee on Communications and Technology will hold a markup: H.R. ___, a bill to amend the Communications Act of 1934 to reauthorize appropriations for the Federal Communications Commission, to provide for certain procedural changes to the rules of the Commission to maximize opportunities for public participation and efficient decision making, and for other purposes.  


THURSDAY 

The House Committee on Financial Services will hold a hearing: “The Future of Housing in America: Oversight of the Department of Housing and Urban Development”