Daily Leader
HOUSE MEETS AT: FIRST VOTE PREDICTED: LAST VOTE PREDICTED:
10:00 a.m.: Morning Hour
12:00 p.m.: Legislative Business

Fifteen “One Minutes”
1:30 – 2:30 p.m. 4:00 – 5:00 p.m.
 
H.Res. 647 Rule providing for consideration of H.R. 477 – Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017 (Rep. Huizenga – Financial Services), H.R. 3971 – Community Institution Mortgage Relief Act of 2017 (Rep. Tenney – Financial Services),  and H.J.Res. 123 – Continuing Appropriations Act, 2018 (Rep. Frelinghuysen – Appropriations) (One hour of debate).   The Rules Committee has recommended one Rule which would provide for consideration of two bills.

For H.R. 477, the Rules Committee has recommended a structured Rule that provides for one hour of general debate equally divided and controlled by the Chair and Ranking Member of the Committee on Financial Services.  The Rule provides for consideration of 1 amendment, debatable for 10 minutes, equally controlled by the proponent and opponent of the amendment. The Rule allows one motion to recommit, with or without instructions, and waives all points of order against the legislation.

For H.R. 3971, the Rules Committee has recommended a structured Rule that provides for one hour of general debate equally divided and controlled by the Chair and Ranking Member of the Committee on Financial Services.  The Rule provides for consideration of 1 amendment, debatable for 10 minutes, equally controlled by the proponent and opponent of the amendment. The Rule allows one motion to recommit, with or without instructions, and waives all points of order against the legislation.

For H.J.Res. 123, the Rules Committee has recommended a closed Rule that provides for one hour of general debate equally divided and controlled by the Chair and Ranking Member of the Committee on Appropriations.  The Rule allows one motion to recommit and waives all points of order against provisions in the joint resolution.  Members are urged to VOTE NO.

H.J.Res. 123 Continuing Appropriations Act, 2018 (Rep. Frelinghuysen – Appropriations) (One hour of debate).  This Continuing Resolution (CR) funds the government at current levels until December 22, 2017, ignoring the many important issues before Congress for two additional weeks, so that Republicans can continue their partisan crusade to cut taxes for the wealthy at the expense of the middle class.

Now, just one day before the current CR expires, putting government operations in jeopardy of shutting down, Republicans are bringing a new CR to the Floor needing Democratic votes for its passage. Since taking the majority in 2011, Republicans have never passed a major funding bill without Democratic votes because of deep divisions within their own party.

Despite controlling the House, Senate, and the White House, Republicans still do not have a coherent plan to keep the government open, other than to delay those decisions until after they finish their tax bill.  Republicans have long known that the spending caps would need to be addressed and that cutting nondefense spending while increasing defense spending is a non-starter for Democrats.  Yet they have done nothing to address spending caps in the eight months since President Trump released his budget.  After failing to do anything in eight months and with time running short to fund the government, Republicans are advancing a two week CR to give them time to complete their work on their tax bill – not because they are negotiating over how to provide stable funding for the Pentagon and other government agencies, or resolve the many pressing issues before Congress.

In addition to a simple date change CR, this resolution provides for a change in the way that the Children’s Health Insurance Program (CHIP) emergency shortfall funds are distributed to states until December 31, 2017, so that no state’s CHIP funding is depleted during the month of December. CHIP, which has almost always been a bipartisan priority, expired over two months ago, but Congressional Republicans continued to play games with this vital program that helps the most vulnerable children in our society.  With the clock ticking, Republican Leadership is attempting to kick the can down the road and further inhibit states’ ability to properly plan and allocate funding.  States have already taken steps to shut down their CHIP programs and this short-term approach will do nothing to mitigate the consequences of Republicans’ failure to act on a comprehensive, bipartisan CHIP reauthorization.  Members are urged to VOTE NO.
 
H.R. 477 Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017 (Rep. Huizenga – Financial Services) (One hour of debate).  This bill would exempt merger and acquisition brokers from registering with the Securities and Exchange Commission (SEC) as broker-dealers, and exempt them from the 1970 Securities Investor Protection Act.  This legislation specifies the exemption applies to brokers that facilitate the transfer of ownership of privately held companies with earnings of less than $25 million or revenues of less than $250 million annually.
 
House Republicans are bringing H.R. 477 to the Floor simply to fill time.  Republicans are trying to find legislation to debate on the Floor while a Conference Committee works at a feverish pace to pass tax cuts for the wealthy, at the expense of the middle-class.
 
The Rule provides for one hour of general debate and makes in order 1 amendment, debatable for 10 minutes, equally divided between the offeror and an opponent.  The amendment is: 
Sherman/Huizenga Amendment. Makes several changes that provide additional protections for investors and small businesses, which will align the bill with a Securities and Exchange Commission no-action letter issued January 31, 2014. Specifically the amendment includes provisions that would prohibit passive buyers in the M&A transaction, prohibit M&A brokers from binding a party to a transfer of ownership, prohibit M&A brokers from providing financing for the transfer, and require M&A brokers who represent both the buyer and seller to disclose that to both parties and receive written consent.
       Bill Text for H.R. 477:
       PDF Version
 
       Background for H.R. 477:
       House Report (HTML Version)
       House Report (PDF Version)

Postponed Suspensions (2 bills)
  1. H.R. 2658 – Venezuela Humanitarian Assistance and Defense of Democratic Governance Act of 2017, as amended (Rep. Engel – Foreign Affairs)
  2. H.Res. 259 – Expressing concern and condemnation over the political, economic, social, and humanitarian crisis in Venezuela, as amended (Rep. DeSantis – Foreign Affairs)
TOMORROW’S OUTLOOK

The GOP Leadership has announced the following schedule for Friday, December 8: The House will meet at 9:00 a.m. for legislative business.   The House is expected to complete consideration of H.R. 3971 – Community Institution Mortgage Relief Act of 2017 (Rep. Tenney – Financial Services).
 
THE DAILY QUOTE
“Speaker Paul Ryan [R-WI] and his team huddled with unhappy conservatives and other opponents of their plan to keep the government open for two weeks. The House Republican Conference is broadly eager to avoid a distraction that might derail tax reform legislation. But they've been struggling to reach a truce to keep the government running… Just hours earlier, President Donald Trump on Wednesday blamed Democrats for a possible government shutdown… In fact, the real problem has been Republican infighting, according to multiple House GOP sources.”

    -    Politico, 12/6/2017