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Week of April 9th

Apr 9, 2018
Legislative Digest

Tuesday, April 10th

On Tuesday, the House will meet at 12:00 p.m. for morning hour and 2:00 p.m. for legislative business. Votes will be postponed until 6:30 p.m.

5 Suspensions 

1)  H.R. 4921 - STB Information Security Improvement Act, as amended (PDF)

Sponsor: Rep. Paul Mitchell (R-MI) | Transportation and Infrastructure Committee)

Topline Summary: This bill requires the Surface Transportation Board (STB) to implement certain recommendations for the Inspector General (IG) of the Department of Transportation (DOT). According to the DOT IG, the STB’s information security program is at the Ad Hoc maturity level and in need of effective and long term improvements. The STB concurred with the DOT IG’s recommendations. This bill ensures that proprietary information is secured and the STB must develop a timeline to implement improvements and update Congress annually.

2) H.R. 4925 - FRA Safety Data Improvement Act (PDF)

Sponsor: Rep. Josh Gottheimer (D-NJ) | Transportation and Infrastructure Committee

Topline Summary: This bill requires the administrator of the Federal Railroad Administration (FRA) to implement certain recommendations for management and collection of railroad safety data. The Inspector General report recommends that FRA updates reporting guidance so users can more efficiently and accurately identify reporting requirements for different accident and incident types.

3) H.R. 4203 - Combat Online Predators Act, as amended (PDF)

Sponsor: Rep. Brian Fitzpatrick (R-PA) | Judiciary Committee

Topline Summary: This bill
 amends the federal criminal code to increase the maximum prison term for a stalking offense by 5 additional years, if the victim is under 18 years of age. It also requires the Attorney General to issue a report on best practices on the enforcement of state, local, tribal, and Federal stalking laws.

4) H.Res. 128 - Supporting respect for human rights and encouraging inclusive governance in Ethiopia, as amended (PDF)

Sponsor: Rep. Christopher Smith (R-NJ) | Foreign Affairs Committee

Topline Summary: This resolution recognizes Ethiopia’s efforts to promote regional peace and security, and its partnership with the U.S. to combat terrorism, promote economic growth, and address health challenges. In addition, the resolution expresses concern about human rights abuses and contracting democratic space, and condemns excessive use of force by Ethiopian security forces. The resolution calls on the Government of Ethiopia to lift the state of emergency, end the use of excessive force, release wrongfully imprisoned protesters, and improve transparency, while at the same time urging protesters and opposition groups to use peaceful discussion and avoid incitement. The resolution calls on the U.S. Department of State and U.S. Agency for International Development to cooperate and strengthen ties with Ethiopia, condemn human rights abuses, and promote accountability.

5) H.R. 2219 - End Banking for Human Traffickers Act of 2018, as amended (PDF)

Sponsor: Rep. Ed Royce (R-CA) | Foreign Affairs Committee

Topline Summary: This bill seeks to choke off human traffickers’ access to the financial system by enhancing the financial industry’s efforts to detect and deter money laundering related to human trafficking and by encouraging foreign governments to have in effect a framework to prevent financial transactions involving the proceeds of severe forms of trafficking. 


Wednesday, April 11th

On Thursday, the House will meet at 10:00 a.m. for morning hour and 12:00 p.m. for legislative business

2 Rule Bills 

1) H.R. 4293 - Stress Test Improvement Act of 2017, Rules Committee Print (PDF)

Sponsor: Rep. Lee Zeldin (R-NY) | Financial Services Committee

Topline Summary: This bill improves the stress testing process for bank holding companies. Specifically, the bill improves the process by: (1) requiring certain bank holding companies to conduct company-run stress tests once a year rather than semiannually; (2), reduces the number of supervisory scenarios from three to two—the baseline and severely adverse scenario; (3), does away with mid-year stress tests; and (4), prohibits the Federal Reserve from objecting to a bank holding company’s capital plan based on qualitative deficiencies.



2) H.R. 4061 - Financial Stability Oversight Council Improvement Act of 2017, Rules Committee Print (PDF)

Sponsor: Rep. Dennis Ross (R-FL) | Financial Services Committee

Topline Summary: This bill amends the Dodd-Frank Act to require the Financial Stability Oversight Council (FSOC), when determining whether to subject a U.S. or a foreign nonbank financial company to supervision by the Federal Reserve, to consider the appropriateness of imposing heightened prudential standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability.


Thursday, April 12th

On Thursday, the House will meet at 10:00 a.m. for morning hour and 12:00 p.m. for legislative business.

1 Suspenstion

1) H.J.Res. 2 - Proposing a balanced budget amendment to the Constitution of the United States (PDF)

Sponsor: Rep. Bob Goodlatte (R-VA) | Judiciary Committee

Topline Summary: This bill amends the Constitution of the United States to require three-fifths of both legislative bodies to approve spending than exceeds government revenue, require three-fifths of both legislative bodies to raise the limit on the debt, and require the President to submit a proposed budget to Congress in which total outlays do not exceed total receipts. Congress may wave these requirements for any fiscal year the United States is engaged in military conflict that causes an imminent and serious military threat to national security and is so declared by a joint resolution.


Friday, April 13th

On Friday, the House will meet at 9:00 a.m. for legislative business. Last votes expected no later than 3:00 p.m.

1 Rule Bill

1) H.R. 4790 - Volcker Rule Regulatory Harmonization Act, Rules Committee Print (PDF)

Sponsor: Rep. French Hill (R-AR) | Financial Services Committee

Topline Summary: This bill restricts financial institutions insured by the Federal Deposit Insurance Corporation from engaging in certain proprietary trading of securities, derivatives, commodity futures, and options on those instruments. Specifically, the bill amends Section 619 of the Dodd-Frank Act, known as the “Volcker Rule,” to streamline the regulatory authority over the Volcker Rule by granting the Federal Reserve the exclusive rule-making authority and providing for sole examination and enforcement authority by an entity’s primary federal regulator. 

115th Congress