WASHINGTON—Leadership and committee posts, as well as government funding, will be focal points for Congress this week as it begins a lame-duck session following the 2016 elections.
Of key interest, say CUNA and NAFCU, is the fiscal budget, as government funding is set to expire Dec. 9.
NAFCU noted that Roll Call reported last week that Republicans will push for a short-term continuing resolution so they can negotiate a government-funding package with GOP President-elect Donald Trump rather than President Barack Obama.
Ahead of Trump’s Jan. 20 inauguration, Congress may also take up legislation that would delay the Labor Department’s overtime rule, set to go into effect Dec. 1, noted NAFCU. In September, the House voted 246-177 to delay the rule’s implementation by six months. An identical bill was introduced in the Senate. President Obama has promised to veto the legislation.
NAFCU said it is pushing Congress to implement data security standards that would hold merchants accountable for breaches that occur on their end before the 114th congressional session comes to an end.
NAFCU also is watching for the potential for the “Financial CHOICE Act” (HR 5983) to come to the House floor during the lame-duck session. The bill, introduced by House Financial Services Chairman Jeb Hensarling (R-TX) passed the committee in September. NAFCU has praised many of the bill’s initiatives for credit union regulatory relief, and said it strongly supports a provision that would also repeal the Dodd-Frank Act’s Durbin amendment.
Eli Joseph, CUNA deputy chief advocacy officer, noted that as Congress returns this week both the Senate and House will first both hold leadership elections, and then turn to unfinished legislation for the remainder of the year.