PublicationsInsights on Current Policy Issues

  • December 17, 2018

    By David E. Franasiak, Joel G. Oswald, Leah H. Kim, and Rebecca L. Konst

    This memorandum provides an update of federal action on cryptocurrencies, including enforcement and guidance. It also provides a summary of Congressional activity relating to cryptocurrencies and blockchain technology.

     

    Read...

    Read More
  • August 13, 2018

    By David E. Franasiak, Joel G. Oswald, Michael D. Kans, and Rebecca L. Konst

     This memorandum will provide a survey of federal action on cryptocurrencies (aka virtual currencies), including enforcement and guidance. At present, some federal regulators have begun asserting oversight and enforcement authority under their existing powers while other potential regulators have not yet indicated publicly what, if any, oversight they will exercise. Other federal stakeholders on cryptocurrencies have also begun to engage. However, the U.S. government’s approach to virtual currencies remains fluid.

     

    Read...

    Read More
  • January 11, 2018

    By Frank Vlossak

    Since taking office, President Trump and his Administration have worked toward regulatory reform that includes the review, revision, and repeal of existing regulations, with a focus on rules promulgated by the Obama Administration. Congress has played a key role in this effort, through the use of the Congressional Review Act to repeal rules finalized in the waning months of the prior Administration, as well as one rule issued by the Consumer Financial Protection Bureau (CFPB) in 2017.

    President Trump signed a series of executive orders in the early months of his presidency that are propelling the deregulatory efforts of federal agencies. These executive orders: set a cap limiting regulations in Fiscal Year 2017 to zero net cost; provide agencies with a framework for limiting new regulations and identifying existing rules to repeal or revise; direct review and revision or repeal of the “Waters of the United States” rule issued by the Obama Administration; and require review and reform of energy and climate-related regulations.

     

    Read...

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The House will complete consideration of H.Con.Res. 24 – Expressing the sense of Congress that the report of Special Counsel Mueller should be made available to the public and to Congress. The Senate will begin consideration of H.J.Res 46, relating to a national emergency declared by the President on February 15, 2019

THE HOUSE

 

Yesterday

  • SUMMARY OF LEGISLATIVE BUSINESS
    • Adoption of H. Res. 208 - The rule providing for consideration of the bill H. Con. Res. 24 - Expressing the sense of Congress that the report of Special Counsel Mueller should be made available to the public and to Congress
      • - ADOPTED 233 - 195, ROLL CALL 124
    • H.Res. 206 - Acknowledging that the lack of sunlight and transparency in financial transactions and corporate formation poses a threat to our national security and our economy’s security and supporting efforts to close related loopholes, as amended
      • - ON THE MOTION TO SUSPEND THE RULES AND PASS
        • - PASSED BY VOICE

 

Today

  • “One Minutes” (5 per side)
  • Complete Consideration of H.Con.Res. 24 – Expressing the sense of Congress that the report of Special Counsel Mueller should be made available to the public and to Congress (Rep. Nadler – Judiciary)
  • The Rule, which was adopted today, provides for one hour of debate equally divided and controlled by the Chair and Ranking Member of the Judiciary Committee. 

 

THE SENATE

 

Yesterday 

 

  • Roll Call Votes
    •  1)  Confirmation of Executive Calendar #107, Neomi J. Rao, of the District of Columbia, to  be United States Circuit Judge for the District of Columbia Circuit; confirmed: 53-46.
    • 2)  Motion to invoke cloture on Executive Calendar #98, William Beach, of Kansas, to be Commissioner of Labor Statistics, Department of Labor; invoked: 55-43.
    • 3)  Confirmation of Executive Calendar #98, William Beach, of Kansas, to be Commissioner of Labor Statistics, Department of Labor; confirmed: 55-44.
    • 4)  On the motion to table Inhofe amendment #194 to S.J.Res.7, re: Yemen; tabled: 52-48.
    • 5)  On passage of S.J.Res.7, directing the removal of United States Armed Forces from hostilities in the Republic of Yemen that have not been authorized by Congress; passed: 54-46.
  • Legislative Business
    • By voice vote adopted the following amendments to S.J.Res.7, re: Yemen:
      • 1) Paul amendment #193
      • 2) Rubio amendment #195
    • Adopted S.Res.108, honoring the life, accomplishments, and legacy of Representative Walter Beamon Jones, Jr.
    • Began the Rule 14 process to place on the Legislative Calendar of Business the following bills:
      • 1)  H.R.1 For the People Act
      • 2)  H.R.1617 KREMLIN Act

 

Today

  • The Senate stands adjourned until 10:00am on Thursday, March 14, 2019.
  • Following Leader remarks, the Senate will begin consideration of H.J.Res 46, relating to a national emergency declared by the President on February 15, 2019. No amendments will be in order to the joint resolution.
  • There will be an effort to vote on passage of H.J.Res.46 at 1:45pm, Thursday. Senators will be notified when the vote is scheduled.

 

Hearings Covered by W&J Today

 

House Ways and Means
The President's FY2020 Budget Proposal

House Financial Services
SEC Regulation Best Interest

Senate Appropriations
Ebola Outbreak in Congo

Senate Banking
Financial Stability Oversight Council Nonbank Designations

Senate Finance
HHS Budget

Senate Finance
The President's FY2020 Budget

 

Notable Legislation Introduced

 

Cybersecurity

S.783 — 116th Congress (2019-2020)
A bill to amend the Children's Online Privacy Protection Act of 1998 to give Americans the option to delete personal information collected by internet operators as a result of the person's internet activity prior to age 13.
Sponsor: Sen. Durbin, Richard J. [D-IL] (Introduced 03/13/2019) Cosponsors: (4)
Committees: Senate - Commerce, Science, and Transportation
Latest Action: Senate - 03/13/2019 Read twice and referred to the Committee on Commerce, Science, and Transportation.

S.772 — 116th Congress (2019-2020)
A bill to require an annual report on the cybersecurity of the Small Business Administration, and for other purposes.
Sponsor: Sen. Rubio, Marco [R-FL] (Introduced 03/13/2019) Cosponsors: (1)
Committees: Senate - Small Business and Entrepreneurship
Latest Action: Senate - 03/13/2019 Committee on Small Business and Entrepreneurship. Hearings held.

S.771 — 116th Congress (2019-2020)
A bill to amend section 21 of the Small Business Act to require cyber certification for small business development center counselors, and for other purposes.
Sponsor: Sen. Rubio, Marco [R-FL] (Introduced 03/13/2019) Cosponsors: (1)
Committees: Senate - Small Business and Entrepreneurship
Latest Action: Senate - 03/13/2019 Committee on Small Business and Entrepreneurship. Hearings held.

 

Energy

H.R.1744 — 116th Congress (2019-2020)
To provide for the consideration of energy storage systems by electric utilities as part of a supply side resource process, and for other purposes.
Sponsor: Rep. Takano, Mark [D-CA-41] (Introduced 03/13/2019) Cosponsors: (1)
Committees: House - Energy and Commerce, Science, Space, and Technology
Latest Action: House - 03/13/2019 Referred to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the...

H.R.1743 — 116th Congress (2019-2020)
To require the Secretary of Energy to carry out an energy storage research program, loan program, and technical assistance and grant program, and for other purposes.
Sponsor: Rep. Takano, Mark [D-CA-41] (Introduced 03/13/2019) Cosponsors: (1)
Committees: House - Energy and Commerce, Science, Space, and Technology
Latest Action: House - 03/13/2019 Referred to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the..

H.R.1742 — 116th Congress (2019-2020)
To make innovative technology loan guarantee support available for battery storage technologies.
Sponsor: Rep. Takano, Mark [D-CA-41] (Introduced 03/13/2019) Cosponsors: (1)
Committees: House - Energy and Commerce, Science, Space, and Technology
Latest Action: House - 03/13/2019 Referred to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the...

 

Financial Services

H.R.1731 — 116th Congress (2019-2020)
To amend the Securities Exchange Act of 1934 to promote transparency in the oversight of cybersecurity risks at publicly traded companies.
Sponsor: Rep. Himes, James A. [D-CT-4] (Introduced 03/13/2019) Cosponsors: (2)
Committees: House - Financial Services
Latest Action: House - 03/13/2019 Referred to the House Committee on Financial Services.

 

Health

H.R.1730 — 116th Congress (2019-2020)
To amend the Public Health Service Act to require group and individual health insurance coverage and group health plans to provide for cost sharing for oral anticancer drugs on terms no less favorable than the cost sharing provided for anticancer medications administered by a health care provider.
Sponsor: Rep. Higgins, Brian [D-NY-26] (Introduced 03/13/2019) Cosponsors: (17)
Committees: House - Energy and Commerce
Latest Action: House - 03/13/2019 Referred to the House Committee on Energy and Commerce

S.785 — 116th Congress (2019-2020)
A bill to improve mental health care provided by the Department of Veterans Affairs, and for other purposes.
Sponsor: Sen. Tester, Jon [D-MT] (Introduced 03/13/2019) Cosponsors: (23)
Committees: Senate - Veterans' Affairs
Latest Action: Senate - 03/13/2019 Read twice and referred to the Committee on Veterans' Affairs.

S.782 — 116th Congress (2019-2020)
A bill to amend title XVIII of the Social Security Act to improve access to mental health services under the Medicare program.
Sponsor: Sen. Stabenow, Debbie [D-MI] (Introduced 03/13/2019) Cosponsors: (1)
Committees: Senate - Finance
Latest Action: Senate - 03/13/2019 Read twice and referred to the Committee on Finance

S.773 — 116th Congress (2019-2020)
A bill to require the Center for Medicare and Medicaid Innovation to test the effect of including telehealth services in Medicare health care delivery reform models.
Sponsor: Sen. Gardner, Cory [R-CO] (Introduced 03/13/2019) Cosponsors: (1)
Committees: Senate - Finance
Latest Action: Senate - 03/13/2019 Read twice and referred to the Committee on Finance.

 

Tax

H.R.1739 — 116th Congress (2019-2020)
To amend the Internal Revenue Code of 1986 to allow a credit against tax for charitable donations to nonprofit organizations providing workforce training and education scholarships to qualified elementary and secondary students.
Sponsor: Rep. Smucker, Lloyd [R-PA-11] (Introduced 03/13/2019) Cosponsors: (7)
Committees: House - Ways and Means
Latest Action: House - 03/13/2019 Referred to the House Committee on Ways and Means.

H.R.1735 — 116th Congress (2019-2020)
To amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities.
Sponsor: Rep. Pascrell, Bill, Jr. [D-NJ-9] (Introduced 03/13/2019) Cosponsors: (19)
Committees: House - Ways and Means
Latest Action: House - 03/13/2019 Referred to the House Committee on Ways and Means.

H.R.1715 — 116th Congress (2019-2020)
To amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces.
Sponsor: Rep. Kind, Ron [D-WI-3] (Introduced 03/13/2019) Cosponsors: (1)
Committees: House - Ways and Means
Latest Action: House - 03/13/2019 Referred to the House Committee on Ways and Means

H.R.1712 — 116th Congress (2019-2020)
To end offshore corporate tax avoidance, and for other purposes.
Sponsor: Rep. Doggett, Lloyd [D-TX-35] (Introduced 03/13/2019) Cosponsors: (44)
Committees: House - Ways and Means, Financial Services
Latest Action: House - 03/13/2019 Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee...

H.R.1711 — 116th Congress (2019-2020)
To amend the Internal Revenue Code of 1986 to provide for current year inclusion of net CFC tested income, and for other purposes.
Sponsor: Rep. Doggett, Lloyd [D-TX-35] (Introduced 03/13/2019) Cosponsors: (77)
Committees: House - Ways and Means
Latest Action: House - 03/13/2019 Referred to the House Committee on Ways and Means.

S.781 — 116th Congress (2019-2020)
A bill to amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities.
Sponsor: Sen. Baldwin, Tammy [D-WI] (Introduced 03/13/2019) Cosponsors: (13)
Committees: Senate - Finance
Latest Action: Senate - 03/13/2019 Read twice and referred to the Committee on Finance.

S.780 — 116th Congress (2019-2020)
A bill to amend the Internal Revenue Code of 1986 to provide for current year inclusion of net CFC tested income, and for other purposes.
Sponsor: Sen. Whitehouse, Sheldon [D-RI] (Introduced 03/13/2019) Cosponsors: (1)
Committees: Senate - Finance
Latest Action: Senate - 03/13/2019 Read twice and referred to the Committee on Finance.

S.779 — 116th Congress (2019-2020)
A bill to end offshore corporate tax avoidance, and for other purposes.
Sponsor: Sen. Whitehouse, Sheldon [D-RI] (Introduced 03/13/2019) Cosponsors: (1)
Committees: Senate - Finance
Latest Action: Senate - 03/13/2019 Read twice and referred to the Committee on Finance.

PublicationsInsights on Current Policy Issues

  • December 17, 2018

    By David E. Franasiak, Joel G. Oswald, Leah H. Kim, and Rebecca L. Konst

    This memorandum provides an update of federal action on cryptocurrencies, including enforcement and guidance. It also provides a summary of Congressional activity relating to cryptocurrencies and blockchain technology.

     

    Read...

    Read More
  • August 13, 2018

    By David E. Franasiak, Joel G. Oswald, Michael D. Kans, and Rebecca L. Konst

     This memorandum will provide a survey of federal action on cryptocurrencies (aka virtual currencies), including enforcement and guidance. At present, some federal regulators have begun asserting oversight and enforcement authority under their existing powers while other potential regulators have not yet indicated publicly what, if any, oversight they will exercise. Other federal stakeholders on cryptocurrencies have also begun to engage. However, the U.S. government’s approach to virtual currencies remains fluid.

     

    Read...

    Read More
  • January 11, 2018

    By Frank Vlossak

    Since taking office, President Trump and his Administration have worked toward regulatory reform that includes the review, revision, and repeal of existing regulations, with a focus on rules promulgated by the Obama Administration. Congress has played a key role in this effort, through the use of the Congressional Review Act to repeal rules finalized in the waning months of the prior Administration, as well as one rule issued by the Consumer Financial Protection Bureau (CFPB) in 2017.

    President Trump signed a series of executive orders in the early months of his presidency that are propelling the deregulatory efforts of federal agencies. These executive orders: set a cap limiting regulations in Fiscal Year 2017 to zero net cost; provide agencies with a framework for limiting new regulations and identifying existing rules to repeal or revise; direct review and revision or repeal of the “Waters of the United States” rule issued by the Obama Administration; and require review and reform of energy and climate-related regulations.

     

    Read...

    Read More

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