Analysis: This week, the House will take up the approval of the Keystone XL pipeline and student loan rate reform. The Northern Route Approval Act does just what its name suggests—approves the Keystone pipeline. This pipeline will be source of jobs and energy for Americans, and approval is currently being held up by the Obama Administration. The Smarter Solutions for Students Act reforms the way the government charges interest on student loans. The current rate of 3.4 percent is going back up to 6.8 percent this summer. Instead of Congress picking an interest rate, this reform would tie the interest rate to the Treasury rate plus 2.5 percent, making it a variable rate.
Major Floor Action:
Major Committee Action:
- The House Oversight and Government Reform Committee will hold a hearing on the IRS scandal.
- The House Judiciary Committee will hold a hearing on immigration reform.
- The House Ways and Means Subcommittee on Health will hold a hearing on Medicare reform.
- The House Agriculture Committee will hold a hearing on the future of the Commodities and Futures Trading Commission.
Senate Cloakroom: May 20 – May 24
Analysis: This week, the Senate will consider S. 954. This nearly $1 trillion bill has initial 10-year cost estimates of $955 billion—80 percent of which is food stamps. The bill would lock in new entitlement programs with shallow loss crop insurance (ARC) and target price supports (AMP).
Major Floor Action:
- S 954 – Agriculture Reform, Food, and Jobs Act of 2013
Major Committee Action:
- The Senate Finance Committee will hold a hearing on the IRS scandal.
- The Senate Commerce, Science and Transportation Committee will hold a confirmation hearing for Charlotte Mayor Anthony Foxx to be Secretary of Transportation.
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