The Senate convened at 2:00 p.m. to take up small business legislation and a judicial nomination.  Tuesday, and for the balance of the week, the Senate is scheduled to continue consideration of the small business bill and may take up the financial regulatory overhaul conference report.

The Senate is expected to resume consideration of the Small Business Lending Fund Act (H.R. 5297) today.  The bill, which was combined with a small business tax bill (H.R. 5486) in the House, would create a $30 billion fund to provide capital to community banks, making it easier for small businesses to obtain loans. A cloture vote on the motion to proceed is scheduled for 5:30 p.m. today.  The House passed its version of the legislation June 17 with a vote of 241-182.  The Senate is also scheduled to consider a U.S. district court nomination.

In addition, the confirmation hearings on the nomination of Elena Kagan to be Supreme Court justice began before the Senate Judiciary Committee.

The House convened at 2:00 p.m. today for legislative business and to take up 8 measures under suspension of the rules.  Tuesday, and for the remainder of the week, the House is set to take up five measures under suspension of the rules.  Wednesday, and for the balance of the week, the House is expected to take up 18 measures under suspension of the rules and two measures subject to a rule.

The House is set to consider the Supplemental Appropriations Act of 2010 (H.R. 4899), which would provide additional funding for military operations in Iraq and Afghanistan. The Senate passed its version of the bill prior to the Memorial Day recess, but the House version of the bill will likely add more funding for domestic programs.  The bill could come to the floor by June 30.

Both the House and Senate are expected to take up the conference report of the Restoring American Financial Stability Act of 2010 (H.R. 4173).  The bill would overhaul the financial regulatory reform system, including rules that would prevent financial institutions from becoming “too big to fail.”  Conferees completed negotiations on June 25 after reaching a compromise on derivatives oversight and regulation.  The conference report could be considered in the House as early as July 1, with the Senate following soon after.

KEY HEARINGS & MARKUPS

Agriculture: The General Farm Commodities and Risk Management Subcommittee of the House Agriculture Committee will hold a hearing on issues related to the 2012 farm bill.
Thursday, June 24 at 10:00 a.m., 1300 Longworth Building.

The Senate Agriculture, Nutrition and Forestry Committee will hold a hearing on the reauthorization of farm programs.
Wednesday, June 30 at 9:30 a.m., 328-A Russell Building.

ARMED SERVICES: The Senate Armed Committee will hold a confirmation hearing on the nomination of General David H. Petraeus for reappointment to the grade of general and to be commander, International Security Assistance Force and, commander, U.S. Forces Afghanistan.

APPROPRIATIONS: The Commerce, Justice, Science and related Agencies Subcommittee of the House Appropriations Committee will mark up the fiscal 2011 Commerce, Justice, Science appropriations bill.
Tuesday, June 29 at 3:30 p.m., H-140 Capitol Building.

The Agriculture, Rural Development, FDA, and Related Agencies Subcommittee of the House Appropriations Committee will mark up the fiscal 2011 Agriculture appropriations bill.
Wednesday, June 29, 1:00 p.m., 2362-A Rayburn Building.

The Transportation, Housing, Urban Development, and Related Agencies Subcommittee of the House Appropriations Committee will mark up the fiscal 2011 Transportation-HUD appropriations bill.
Thursday, July 1 at 10:00 a.m., 2358-A Rayburn Building.

The Energy and Water Development Subcommittee of the House Appropriations Committee will mark up the fiscal 2011 energy and water development appropriations bill.
Date is to be announced, 2362-B Rayburn Building.

BANKING, HOUSING AND URBAN AFFAIRS: The Senate Banking, Housing and Urban Affairs Committee will mark up the draft Public Transportation Safety Act of 2010.
Tuesday, June 29at 9:30 a.m., Dirksen Building.

BUDGET: The House Budget Committee will hold a hearing titled “Perspectives on the U.S. Economy”.
Thursday, July 1 at 1:00 p.m., 220 Cannon Building.

COMMERCE, LABOR AND TRANSPORTATION: The Senate Commerce, Science and Transportation Committee will hold a hearing titled “The Deepwater Horizon Tragedy: Holding the Industry Accountable”.
Wednesday, June 30 at 9:30 a.m., 253 Russell Building.

EDUCATION AND LABOR: The House Education and Labor Committee will hold a hearing on the Improving Nutrition for America’s Children Act.
Thursday, July 1 at 10:00 a.m., 2175 Rayburn Building.

ENERGY AND NATURAL RESOURCES: The Senate Energy and Natural Resources Committee will mark up legislation that would revise the management of energy and mineral resources on the outer continental shelf.
Wednesday, June 30 at 9:30 a.m., 366 Dirksen Building.

HOMELAND SECURITY: The Emergency Communication, Preparedness, and Response Subcommittee of the House Homeland Security Committee will hold a hearing titled “The Future of FEMA’s Grant Programs Directorate”.
Tuesday, June 29 at 10:00 a.m., 311 Cannon Building.

The Transportation Security and Infrastructure Protection Subcommittee of the House Homeland Security Committee will hold a hearing titled “100% Air Cargo Screening: Remaining Steps to Secure Passenger Aircraft”.
Wednesday, June 30 at 2:00 p.m., 311 Cannon Building.

JUDICIARY: The Senate Judiciary Committee will hold a confirmation hearing on the nomination of Elena Kegan to be an associate justice of the Supreme Court.
Monday, June 28 at 12:30 a.m., 216 Hart Building.

NATURAL RESOURCES: The House Natural Resources Committee will hold a hearing on a discussion draft for the substitute amendment to the Consolidated Land, Energy, and Aquatic Resources Act.
Wednesday, June 30 at 10:00 a.m., 1324 Longworth Building.

SCIENCE AND TECHNOLOGY: The Technology and Innovation Subcommittee of House Science and Technology Committee will hold a hearing titled “Smart Grid Architecture and Standards: Assessing Coordination and Progress”.  
Thursday, June 1:00 at 10:00 a.m., 2318 Rayburn Building.

TRANSPORTATION: The Railroads, Pipelines and Hazardous Materials Subcommittee of the House Transportation and Infrastructure Committee will hold a hearing titled “The Safety of Hazardous Liquid Pipelines: Regulated vs. Unregulated Pipelines”.
Wednesday, June 29 at 2:00 p.m., 2167 Rayburn Building.

 
WAR SUPPLEMENTAL TO BE CONSIDERED BY THE HOUSE

The House of Representatives intends to take up the Supplemental Appropriations Act (HR 4899) this week, a bill that currently appropriates $58.8 billion towards issues including the War in Afghanistan, education, and immigration. Specifically, $24 billion would be spent domestically, a large amount of which would be directed at preventing school layoffs.

Chairman David Obey (D-WI) is trying to find the funding and offsets needed to include additional aid to the states in order to avoid teacher layoffs.  The House will now attach its one-year budget resolution to the measure.  However, House Republicans are urging Obey to hold the mark-up on the military spending bill ASAP.

 Congressional leaders hope to have the bill finished before July 4.  At a different hearing on Wednesday, Secretary Gates informed Senators of the significant disruptions to readiness that will occur if the bill’s military funding is not provided soon.

                                                                                                                                                                        Federal Judge Martin Feldman issued a preliminary injunction to block DOI’s six-month moratorium on new drilling in waters greater than 500 feet.  The Administration has said it will appeal the decision and/or offer a revised moratorium.  Today, the judge also denied the Administration’s request to keep the moratorium in place while it appealed.

Meanwhile, the Senate Energy and Natural Resources Committee was poised to consider several bills that would overhaul the management and safety of offshore drilling, as well as, give a boost  to environmental considerations.   One bipartisan bill in particular (S. 3516) would formalize the changes that Secretary Salazar made to split MMS into three agencies.  Louisiana Senator Landrieu is championing the creation of a new agency to address the long-standing environmental and economic recovery of the Gulf.  

The House voted this week to give subpoena power to the commission President Obama set-up to investigate the accident.  The commission is being led by former Senator Bob Graham and former EPA Administrator William Reilly.  The House adopted HR 5481 on a 420-1 vote.

 
MINERAL MANAGEMENT SERVICES TO BE REORGANIZED

This past week, Ken Salazar, the Interior Secretary of the United States Ken Salazar, introduced his plans for the Mineral Management Services (MMS) in response to the BP crisis.  Salazar said that the organization would be divided into three new agencies: the Bureau of Ocean Energy Management, the Bureau of Safety and Environmental Enforcement, and an office directed at handling the revenue stream of the organizations.  According to Salazar, the division would strengthen the organization’s ability to operate effectively and prevent a great deal of the corruption that had become evident.

In the past week, two new bills have emerged which are aimed at improving the cyber security of our country.  The first such bill, the Cyber Infrastructure Protection Act of 2010 (S.3538), was authored from Senator Bond (R-MO) and Senator Hatch (R-UT) of the Select Intelligence Committee and would extend the cyber authority of the Armed Services Committee and the Energy and Natural Resources Committee. 

Another bill which some have advocated for in the past week is the Protecting Cyberspace as a National Asset Act of 2010 (S.3480).  Proposed by Senator Lieberman (I-CT), the chairman of the Homeland Security and Governmental Affairs Committee, the bill would grant the Homeland Security Department more power over cyber security.