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Below is this week’s congressional update by BakerHostetler’s <a href="https://www.bakerlaw.com/FederalPolicy">Federal Policy</a> team. We’ll continue to post in weeks when both chambers of Congress are in session.



HEADLINES



<ul>
<li>Congress is wrapping up an extremely busy work period before both chambers depart for the two-week Fourth of July recess.</li>



<li>It’s a busy week for the financial sector in committees in both chambers, and the 2024 National Defense Authorization Act will see action on both sides of the Capitol.</li>



<li>President Joe Biden is in California to begin the week, raising campaign cash and holding events on climate change and artificial intelligence; later in the week, Biden will host a state visit with Prime Minister Narendra Modi of the Republic of India.</li>
</ul>



HOUSE



<ul>
<li>The House will <a href="https://www.majorityleader.gov/schedule/weekly-schedule.htm">vote</a> tonight through Friday, taking up <a href="https://rules.house.gov/news/announcement/meeting-announcement-june-20-2023">bills</a> targeting Biden administration actions, including an attempt to override Biden’s veto of legislation to block his student loan forgiveness plan.</li>



<li>The House Financial Services Committee tomorrow will <a href="https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408872">receive</a> the Federal Reserve’s Semi-Annual Monetary Policy Report from Chair Jay Powell, who will also <a href="https://www.banking.senate.gov/hearings/06/15/2023/the-semiannual-monetary-policy-report-to-the-congress">testify</a> on the report at a Senate Banking, Housing and Urban Affairs Committee hearing Thursday.</li>



<li>Also tomorrow, the Energy and Commerce Committee will hold an oversight <a href="https://energycommerce.house.gov/events/communications-and-technology-subcommittee-hearing-oversight-of-the-federal-communications-commission">hearing</a> with the Federal Communications Commission.</li>



<li>The full list of House committee activity can be found <a href="https://www.house.gov/legislative-activity">here</a>.</li>
</ul>



SENATE



<ul>
<li>The Senate will be in <a href="https://www.senate.gov/legislative/floor_activity_pail.htm">session</a> throughout the week, continuing to vote on Biden nominees.</li>



<li>The Senate Armed Services Committee will <a href="https://www.armed-services.senate.gov/press-releases/reed-and-wicker-announce-fy-2024-ndaa-markup-schedule">take up</a> the fiscal year 2024 National Defense Authorization Act, as the House Armed Services Committee also <a href="https://armedservices.house.gov/hearings/fy24-ndaa-full-committee-markup">aims</a> to complete work on its version of the bill.</li>



<li>The Banking Committee tomorrow will hold its first legislative markup since 2019, taking up the <a href="https://www.banking.senate.gov/imo/media/doc/recoup_act_one-pager.pdf">RECOUP Act</a> addressing bank executive accountability following on recent bank failures.</li>



<li>Additional Senate committee meetings can be found <a href="https://www.senate.gov/committees/hearings_meetings.htm">here</a>.</li>
</ul>



WHITE HOUSE



<ul>
<li>Biden is in <a href="https://www.ktvu.com/news/president-biden-in-bay-area-to-raise-money-address-climate-change">California</a> until Wednesday, holding events to discuss climate change as well as artificial intelligence and attending fundraisers for his reelection campaign.</li>



<li>After he returns Wednesday, the president will welcome Modi.</li>



<li>Thursday, the White House will <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/05/10/statement-from-white-house-press-secretary-karine-jean-pierre-on-the-official-state-visit-of-prime-minister-narendra-modi-of-the-republic-of-india/">host</a> an official state visit for Modi, including a state dinner.</li>
</ul>

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