The Senate attempts to move on financial regulatory legislation this week, while the anticipated climate-control bill has been delayed. The President’s debt commission convenes Tuesday, and then President Obama travels to the Midwest.
NAM President John Engler is the keynote speaker today at the Institute for Supply Management’s 95th Annual ISM International Supply Management Conference in San Diego.
The House convenes at 12:30 p.m. today. This week’s suspensions include a salute to assistant principals, so you over there, pay attention! Later floor debate includes H.R. 2499, the Puerto Rico Democracy Act, and H.R. 5013, the IMPROVE Acquisition Act, which seeks to modernize defense acquisition through assessments, personnel flexibility and more effective reliance on industrial base. (Details)
The Senate convenes at 2 p.m. today and resumes consideration of the motion to proceed to S.3217, the Restoring American Financial Stability Act, with a crucial test vote (cloture) set for 5:00 p.m. Originally expected to be released today, the Kerry-Lieberman-Graham bill to extend federal government control over greenhouse gas emissions has been kicked down the road to a more propitious political moment, which may or may never come. Goldman Sachs execs are in Senator Levin’s dock Tuesday.
President Obama hosts a Presidential Summit on Entrepreneurship today, a two-day event at the Ronald Reagan Building with attendees from around the world. On Tuesday, he opens the National Commission on Fiscal Responsibility and Reform. (Details.) POTUS resumes his White House to Main Street tour afterward, visiting the Siemens Energy facility in Fort Madison, Iowa, then heading to Mt. Pleasant and Indian Hills Community College in Ottumwa. On Wednesday, the President holds events in Macon, Mo., and Quincy, Ill.
For the full list of committee hearings, go here.
Senate Hearings: Tuesday – Senate Homeland Security and Governmental Affairs, the investigations subcommittee, holds a hearing on investment banks and the financial crisis, with Goldman Sachs CEO Lloyd Blankfein and other top execs testifying. Energy and Natural Resources holds a hearing on nominations of Philip Moeller and Cheryl LaFleur to FERC. Small Business considers small business Internet access. Senate HELP Committee holds a hearing, “Strengthening Enforcement and Creating a Culture of Compliance at Mines and Other Dangerous Workplaces.” Wednesday – A Commerce subcommittee holds an oversight hearing on motor carrier safety. The HELP Committee votes on nomination of Joshua Gotbaum to head the Pension Benefit Guaranty Corp. An Appropriations subcommittee considers “National Assessment of Energy Policies“; Energy Secretary Chu testifies, as does Eric P. Loewen of GE Hitachi Nuclear Energy. Senate HELP holds a hearing on the Elementary and Secondary Education Act reauthorization, standards and assessments. An Appropriations subcommittee looks at the budgets of the CFTC and the SEC, with the respective chairmen testifying. Thursday – “Holding banks Accountable” is the title of an Appropriations subcommittee hearing.
Judicial Branch: The Supreme Court on Tuesday hears oral arguments in Monsanto Company v. Geertson Seed Farms, in which an Idaho organic farm persuaded a federal judge to issue a nationwide injunction under NEPA based on far-fetched claims against Monsanto sales of genetically modified alfalfa. The case is on appeal from the Ninth Circuit.
House Hearings: Tuesday — A Foreign Affairs subcommittee asks if it’s time to repeal Jackson-Vanik, the limits on trade for communist countries that restricted emigration. An Armed Services subcommittee considers the shortfall of rotary wing aircraft for special operations forces. Wednesday – House Science marks up the America COMPETES Act reauthorization. An Energy and Commerce subcommittee holds a hearing on “clean energy policies that reduce our dependence on oil.” A separate subcommittee asks a loaded question, “Public Sales of Hurricane Katrina/Rita FEMA Trailers: Are They Safe Or Environmental Time Bombs?” Yet another Energy and Commerce subcommittee holds a hearing on antibiotic resistance. House Transportation, a subcommittee, looks at “protecting and restoring” the Columbia River and San Francisco Bay. (By tearing down dams?) A House Ed & Labor subcommittee looks at the whistleblower and victim’s rights provisions in H.R. 2067, the Protecting America’s Workers Act. Ways & Means, the trade subcommittee, holds a hearing on U.S.-Cuba policy. Thursday – A House Energy and Commerce subcommittee holds a hearing on amending the Consumer Product Safety Improvement Act. A separate subcommittee contemplates navigation device competitiveness under the National Broadband Plan. Friday — House Ed & Labor holds a field hearing in Berkeley, Calif. “Understanding Problems in First Contract Negotiations: Post-Doctoral Scholar Bargaining at the University of California, perhaps raising the Employee Free Choice Act.
Economic Reports: On Tuesday, the Conference Board reports its consumer confidence index. On Wednesday, the Federal Reserve concludes its two-day policy meeting, announcing interest rates. On Friday, we get the report on GDP for the first quarter, and the Chicago PMI report on regional manufacturing comes out. More from Marketwatch and Neil Irwin at The Washington Post.
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