GOOD EVENING EVERYONE AND WELCOME TO OVERNIGHT FINANCE where I have emerged from a brief state of panic after looking at my watch and realizing that I never changed it to sith-lord-black-hole time.
Now on to the news and the marathon federal highway spending bill…
PEDAL TO THE METAL: From The Hill’s Keith Laing: “The House is working its way through hundreds of amendments to a $325 billion highway bill under Speaker Paul Ryan (R-Wis.), who is touting it as an open amendment process intended to show that the chamber is under new leadership.”
The amendments include measures tied to highway funding, which expires on Nov. 20, as well as legislation unrelated to the bill, including a controversial reauthorization of the Export-Import Bank.
{mosads}Heritage Action is calling for lawmakers to oppose the bill on several fronts, including the provisions that would revive the Ex-Im Bank.
On the other hand, the U.S. Chamber of Commerce backs the measure and sent out a key vote letter on Tuesday afternoon, urging lawmakers to back the bill.
The House will trudge along with its work on Wednesday in what is expected to be a long night with the lower chamber set to complete the bill by Thursday then set up a potential conference with the Senate before the deadline hits later this month.
“There are 280 amendments. We’re going to go through them,” House Transportation and Infrastructure Committee Chairman Rep. Bill Shuster (R-Pa.) said Tuesday.
GOP leaders say the marathon voting sessions show they are serious about returning to so-called regular order in the House under Ryan. http://bit.ly/1NOWocp
GETTING REVVED UP ABOUT VOTE-A-RAMA: Via Laing: Shuster said Tuesday he is “very excited, truly” about shepherding the highway bill onto the House floor.
“Republicans in the House have been facing pressure to pass a multiyear highway bill since they rejected an infrastructure funding measure that the Senate approved this summer. They balked at that bill, in part, because it contained six years’ worth of transportation commitments but only three years’ worth of funding.” http://bit.ly/1KWELD3
DEMS MAKING EX-IM PUSH: From Vicki Needham (me, in case you weren’t sure): Four top House Democrats are urging their colleagues to oppose any amendments to a highway bill that would damage efforts to reauthorize the Export-Import Bank.
House Democratic Whip Steny Hoyer (Md.), House Financial Services Committee Ranking Member Maxine Waters (Calif.) and Reps. Gwen Moore (Wis.) and Denny Heck (Wash.) sent a letter to the House Democratic Caucus on Monday, calling on the group to oppose the two-dozen amendments aimed at stopping a renewal of the Ex-Im Bank’s funding.
“In an effort to block the Export-Import Bank’s reauthorization, a number of opponents of the Bank have filed amendments to the highway bill that would kill reauthorization efforts,” the lawmakers wrote. http://bit.ly/1k8YgmX
DEMS SAY NO TO PRIVATE DEBT COLLECTORS: From The Hill’s Peter Schroeder: “Several top House Democrats are looking to kill a provision of the House highway bill that would require the IRS to deploy private debt collectors to track down delinquent taxpayers.
“Arguing that private collectors have been found to engage in aggressive and abusive behavior, the lawmakers have filed an amendment to strip the language from a $325 billion transportation bill.” http://bit.ly/1KWEMGW
DEMS WORK TO KEEP CUSTOMS FUNDING IN PLACE: “Four House Democrats expressed concern on Tuesday that a provision to help pay for a long-term highway bill would hamper U.S. customs efforts.
“Reps. Sandy Levin (Mich.) and Jim McDermott (Wash.), members of the Ways and Means Committee and Reps. Bennie Thompson (Miss.) and Lucille Roybal-Allard (Calif.), who are on the Homeland Security panel, said lawmakers should avoid tapping into customs-user fees amid a staffing shortage and other challenges.” http://bit.ly/1GKk0PY
We love transportation but let’s turn to the budget process …
KEEP YOUR POISON PILLS: From The Hill’s Jordain Carney: “Senate Democrats are warning Republicans to avoid “poison pills” in government funding legislation ahead of next month’s deadline to avoid a shutdown.
“Democrats on both sides of the Capitol, both ends of Pennsylvania Avenue, are united on preventing poison-pill riders from riding along in an omnibus,” Sen. Charles Schumer (D-N.Y.) said Tuesday.
Minority Leader Harry Reid (D-Nev.) added that Democrats were in touch with the White House on Tuesday and that the president backed their strategy to avoid “poison pill” measures, such as defunding ObamaCare or removing federal funds for Planned Parenthood. http://bit.ly/1PkCXtI
BUT THE HOUSE MAY HAVE OTHER IDEAS: From our own Scott Wong and Mike Lillis: “New Speaker Paul Ryan (R-Wis.) on Tuesday refused to rule out attaching legislative policy riders to an omnibus spending bill, foreshadowing a possible confrontation with President Obama next month.
“‘This is the legislative branch and the power of the purse rests within the legislative branch, and we fully expect that we’re going to exercise that power,’ Ryan told reporters at his first news conference since he was elected Speaker last week.
“Obama and congressional leaders struck a major deal last week that lifts sequester spending caps, sets spending levels and raises the debt ceiling for two years. But House and Senate appropriators will need to pass an omnibus spending bill to prevent a government shutdown by Dec. 11. That’s when a stopgap measure, known as a continuing resolution, is set to expire.” http://bit.ly/1GKk8yY
THIRD TIME’S A CHARM FOR DEFENSE SPENDING?: Via Carney: “Senate Majority Leader Mitch McConnell (R-Ky.) teed up the Senate to take a third vote on moving to a stalled defense spending bill after lawmakers reached a two-year budget deal last week.
“The Republican leader filed cloture on ending debate over taking up the legislation. Under Senate rules that paves the way for a procedural vote as early as Thursday, though one hasn’t been scheduled yet.
“Senate Democrats have twice blocked the Senate from moving forward with the legislation because of an extra $38 billion in war funding, which also earned the proposal a veto threat from the White House.” http://bit.ly/1MfRvd7
ANOTHER VIEW ON CROP INSURANCE: Schroeder writes: “A Senate Democrat is pushing back against farm state lawmakers who fought to kill deeper cuts to a crop insurance program.
“Sen. Jeanne Shaheen (D-N.H.) told Senate leaders Tuesday that the chamber should not scrap $3 billion in cuts to the program, which had been included in the recently passed budget deal.” http://bit.ly/1iBH1IY
LET’S MEET: Reps. Nita Lowey (D-N.Y.) and Sen. Barbara Mikulski (D-Md.) met with President Obama on Tuesday at the White House to discuss the appropriations process and in a statement said that even with the budget deal signed by Obama last week “there is still much work to be done in order to avoid another damaging government shutdown after Dec. 11.”
“We are hopeful that Democrats and Republicans can work across the aisle and across the dome to negotiate a full-year appropriations package that invests in our national security, jobs and critical services on which hard-working American families rely,” they said.
Not to be overlooked on Wednesday…
YELLEN ON THE HILL: Federal Reserve Chairwoman Janet Yellen will testify before the House Financial Services Committee on Wednesday to discuss the Fed’s role in financial regulation. Other issues such as the possibility of an interest rate increase next month could crop up, too.
TIME FOR A NEW CHAIRMAN: The Republican Steering Committee will vote on Wednesday afternoon on the next House Ways and Means Committee chairman.
Reps. Kevin Brady (R-Texas) and Pat Tiberi (R-Ohio) have been duking it out in a tight race for the top slot on the tax-writing panel vacated by new Speaker Paul Ryan (R-Wis.).
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