WASHINGTON–Both the House and the Senate are back in session this week, and a schedule that was already in flux is now even more unsettled following the death of Supreme Court Justice Ruth Bader Ginsberg.
Both CU trade groups acknowledged the uncertainty around what can be expected from Congress.
CUNA’s chief advocacy officer, Ryan Donovan, noted the current session was supposed to be the second to the last for Congress until it adjourns for the elections. “Hopefully, we will get some clarity” about what Congress has planned, Donovan said, adding he is hopeful a continuing resolution for funding the government will come sometime this week.
“Given the election was looming we had not been overly optimistic a lot of time would be spent on legislation,” said NAFCU’s EVP/General Counsel Carrie Hunt.
Like Donovan, Hunt noted the continuing resolution issue must be addressed, and she further noted there have already been delays in naming conferees to hammer out differences on the Senate and House versions of the National Defense Authorization Act—which contain differing language on nominal leases on military bases, an issue of great interest to credit unions—and debate over filling the Supreme Court vacancy will “not help.”
Even after the November elections the Supreme Court appointment could continue to effect the lame duck congressional session, with Hunt reminding President Trump has until Jan. 20 to nominate someone to fill the vacancy.
Congressional Hearings
Meanwhile, there are a number of congressional hearings of interest to credit unions taking place this week, including:
Today
Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell will testify before the House Financial Services Committee as the committee reviews the Treasury and Fed’s pandemic response
Wednesday
Powell is to testify before a House Oversight Subcommittee
Thursday
A House Small Business Subcommittee will discuss the SBA’s Paycheck Protection Program
Mnuchin and Powell will testify before the Senate Banking Committee during a quarterly CARES Act report to Congress
Friday
A House Small Business Subcommittee will examine issues with PPP forgiveness