The Administration and Congress continue to look for a way forward to raise the debt ceiling before the White House-imposed deadline of July 22 and the hard deadline of August 2.
President Obama addresses the debt negotiations this morning. Tomorrow he awards the Medal of Honor to Sergeant First Class Leroy Arthur Petry.
The Senate gavels in today at 2 p.m. and turns to S. 1323, a non-binding “sense of the Senate measure” that calls on high-income earners to “make a more meaningful contribution to the deficit reduction.” A vote to proceed to the measure is scheduled for 5:30 p.m.
The House convenes today at noon and will continue its consideration of appropriations legislation. Later today, it will consider the Better Use of Light Bulbs Act (H.R. 2417). For the rest of the week, the House will consider flood insurance reform, a clean water bill and various appropriations measures. See the Majority Leader’s calendar here.
More from The Hill’s The Week Ahead.
Senate Hearings: TUESDAY— The Energy and Natural Resources Committee marks up several bills related to solar and geothermal energy. The Health, Education, Labor and Pensions (HELP) Committee takes a look at pensions. WEDNESDAY—A Commerce, Science and Transportation subcommittee holds a hearing on “The National Nanotechnology Investment: Manufacturing, Commercialization, and Job Creation.” THURSDAY—The HELP Pensions Committee examines “What Works for Employment for Persons with Disabilities.” The Banking Committee receives Fed Chairman Ben Bernanke’s semiannual monetary policy report. The HELP Committee holds a field hearing on “Educating Our Children to Succeed in the Global Economy.”
House Hearings: MONDAY—The Energy and Commerce Committee marks up the Coal Residuals Reuse and Management Act of 2011 (H.R. 2273) and Transparency in Regulatory Analysis of Impacts on the Nation Act of 2011 (H.R. 2401). WEDNESDAY—The Ways and Means Committee and the Senate Finance Committee hold a joint hearing on the tax treatment of debt and equity. The Financial Services Committee receives Fed Chairman Ben Bernanke’s monetary policy report. The Natural Resources Committee marks up several bills including the National Strategic and Critical Minerals Policy Act (H.R. 2011); the National Petroleum Reserve Alaska Access Act (H.R. 2150); and the Cutting Federal Red Tape to Facilitate Renewable Energy Act (H.R. 2170). The Small Business Committee marks up the Regulatory Flexibility Improvements Act of 2011(H.R. 527) and the Small Business Size Standard Flexibility Act of 2011 (H.R. 585). THURSDAY—An Energy and Commerce subcommittee holds a hearing on “Regulatory Chaos: Finding Legislative Solutions to Benefit Jobs and the Economy.” The Oversight and Government Reform Committee looks at consumer financial protection efforts. A Science, Space and Technology subcommittee holds a hearing on the “EPA’s IRIS (Integrated Risk Information System) Program: Evaluating the Science and Process Behind Chemical Risk Assessment.” An Education and Workforce subcommittee looks at the Fair Labor Standards Act. A Transportation and Infrastructure subcommittee holds a hearing on pipeline safety. An Oversight and Government Reform subcommittee considers the “EPA’s Appalachian Energy Permitorium: Job Killer Or Job Creator?” FRIDAY—The Natural Resources Committee holds a hearing on offshore energy. An Energy and Commerce Committee holds a hearing on the draft bill, the Pipeline Infrastructure and Community Protection Act of 2011. The Veterans Affairs Committee marks up several bills relating to veterans employment. The Judiciary Committee holds a hearing on the “Innovative Design Protection and Piracy Prevention Act.”
Executive Branch: On Tuesday, Health and Human Services Secretary Kathleen Sebelius testifies in the House Budget Committee on Medicare’s Independent Payment Advisory Board. On Thursday, Elizabeth Warren, special advisor to the Consumer Financial Protection Bureau, testifies before Chairman Issa and the House Oversight and Government Reform Committee.
Economic Reports: From the New York Times: “Data will include trade deficit for May (Tuesday); import prices for June (Wednesday); retail sales for June, the Producer Price Index for June and business inventories for May (Thursday); Consumer Price Index for June, industrial production and capacity utilization for June, and Thomson Reuters/University of Michigan consumer sentiment index for July (Friday).”
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