Congress Clears the Debt Limit
Both Chambers of Congress return to Washington this week after swiftly passing the debt limit agreement negotiated by President Joe Biden and Speaker Kevin McCarthy. With the debt ceiling behind them, Members are returning to regular business.
House lawmakers are set to take up a number of market-related bills this week under expedited procedures, including those concerning accredited investor eligibilities, emerging growth company reporting requirements, and public offering solicitations and costs. Legislation moving under regular order relate to retaining gas stoves and limiting agency rulemaking.
The Senate also returns this week to vote on several White House nominees. Furthermore, lawmakers from both Chambers are set to hold committee hearings, including the following:
- The Senate Homeland Security and Governmental Affairs Committee will discuss FASTA implementation
- The Senate Finance Committee will discuss consolidation and corporate ownership in healthcare
- The House Energy & Commerce Committee will discuss keeping AM radio in cars
- The House Small Business Committee will discuss promoting innovation through the tax code
President Biden signed the bipartisan debt limit bill over the weekend after giving his first Oval Office address on the matter last Friday. He will begin the week by hosting a bilateral meeting with Prime Minister Mette Frederiksen of Denmark at the White House.
He will also host the Kansas City Chiefs to celebrate their win in last February’s Super Bowl.