|HOUSE MEETS AT:||FIRST VOTE PREDICTED:||LAST VOTE PREDICTED:|
|10:00 a.m.: Morning Hour
12:00 p.m.: Legislative Business
Fifteen “One Minutes”
|3:30 – 4:00 p.m.||4:00 – 4:30 p.m.|
|H.R. 4607 – Comprehensive Regulatory Review Act (Rep. Loudermilk – Financial Services) (One hour of debate). The 1996 “Economic Growth and Regulatory Paperwork Reduction Act” directs federal banking regulators (the Federal Reserve Board, FDIC, and the Office of the Comptroller) to review, once every 10 years, all the regulations they have issued and identify outdated or unnecessary regulations on banks and credit unions. H.R. 4607 would require those agencies, as well as the Consumer Financial Protection Bureau, to complete that review more frequently—once every seven years. Increasing the frequency of this extensive regulatory review from every ten years to every seven years, as H.R. 4607 proposes, would give federal banking regulators less time to assess the impact of rules they have adopted, revised, or kept intact since the last review and force them to divert resources from actually performing their supervisory and enforcement duties. The bill would also require regulators to consider more criteria when assessing regulations to reduce the burden on banks and financial firms, making it easier to scale back or eliminate rules that help consumers or protect the larger economy.
The Rule, which was adopted last week, provides for one hour of general debate equally divided and controlled by the Chair and Ranking Member of the Committee on Financial Services.
Bill Text for H.R. 4607:
Suspensions (8 bills)
The GOP Leadership has announced the following schedule for Wednesday, March 7: The House will meet at 12:00 p.m. for legislative business. The House is expected to consider H.R. 1917 – Blocking Regulatory Interference from Closing Kilns Act of 2017 (Rep. Johnson (OH) – Energy and Commerce) (Subject to a Rule). The House is also expected to begin consideration of H.R. 1119 – Satisfying Energy Needs and Saving the Environment Act (Rep. Rothfus – Energy and Commerce) (Subject to a Rule).
|THE DAILY QUOTE|
|“The tax bill was sold as a way to create jobs and boost stagnant wages. So far, at least, corporations have been showing more concern about shareholders than about employees or the economy as a whole… Just since passage of the law, companies have announced an astounding $200 billion in stock buyback plans… For one thing, buybacks don't have much direct impact on the economy. This is especially troubling in that Congress estimated that the tax bill would increase deficits by only $1.5 trillion over 10 years, because economic growth would generate $458 billion in new tax revenues. That growth won’t happen if much of the windfall goes into a form of financial engineering that does not do much to increase wages, hire workers or build facilities… Add this up, and you get a whopping 70% of the tax windfall going to shareholders in ways that have little impact on the economy, jobs and wages.”
- USA Today Editorial Board, 3/5/2018