Campaign finance and Goldman Sachs

Even though the election is six months away, legislation on Capitol Hill is not taking a backseat. At least not yet. 

Financial regulatory reform, climate change, campaign finance reform, immigration and reining in the federal deficit are hot topics in Congress.

With healthcare reform signed into law, there is widespread uncertainty about what will dominate the congressional calendar for the rest of the year. 

{mosads}Some Democrats want to finish the job on climate change, while others want to start on immigration reform. 

Meanwhile, the president is soon expected to announce his appointment to the Supreme Court. That nomination will probably dominate the Senate floor schedule this summer. 

The House, in many ways, is playing a waiting game with the upper chamber. 

Climate change legislation has passed the House, and Speaker Nancy Pelosi (D-Calif.) has stressed that for immigration reform to pass, the Senate must act first. 

Similarly, the Senate is moving first on a budget resolution.

The House this week will be debating a measure calling for the government of Puerto Rico to schedule a vote on the islands’ status as a U.S. territory. If a majority of residents keep the islands’ current status, the next vote on this issue will come occur every eight years. Should Puerto Ricans vote for a changed status, there will be a subsequent vote on various options, including statehood. 

The bipartisan bill has 181 co-sponsors and is expected to pass. 

The Senate’s focus this week is on financial regulatory reform. The odds are that a bipartisan deal will be struck, but it remains to be seen how many Republicans will vote for a final package.

Reps. Chris Van Hollen (D-Md.) and Sen. Charles Schumer (D-N.Y.) will unveil their long-awaited campaign finance reform bill, which has attracted the support of Senate hopeful Rep. Mike Castle (R-Del.). 

The biggest hearing of the week will occur Tuesday when Goldman Sachs executives testify before the Permanent Subcommittee on Investigations, headed by Sen. Carl Levin (D-Mich.). 

Later that day, the Senate Health, Education, Labor and Pensions Committee will hold a hearing on mine safety in the wake of the deadly explosion that killed 29 in West Virginia. And the House Ways and Means Committee on Thursday will analyze U.S.-Cuba policies.