REP. MARINO’S WEEKLY WRAPUP – JULY 22, 2011
MAJOR VOTES THIS WEEK:
HR2560: Cut, Cap, and Balance Act of 2011
SUMMARY: Cuts total spending by $111 billion in fiscal year 2012; caps spending over the next 10 years; requires the passage of a Balanced Budget Amendment before raising the nation’s debt limit
PASSED: 234-190, July 19
1315: The Consumer Financial Protection Safety and Soundness Improvement Act
SUMMARY: This legislation replaces the Director of the Consumer Financial Protection Bureau (CFPB) with a five-member, presidentially appointed and Senate-confirmed Commission. It streamlines the Financial Stability Oversight Council’s (FSOC) review of CFPB regulations that may raise safety and soundness concerns by changing the vote required to set aside regulations from two-thirds to a simple majority; lifts the strict time limits for the FSOC to review and vote on regulations, allowing the FSOC to take the time necessary to fully consider the consequences of regulations.
PASSED: 241-173, July 21
HR33: The Church Plan Investment Clarification Act
SUMMARY: The bill amends the Securities Act of 1933 (PL 73-22) to allow church pension plans to join other pension plans in a collective trust fund to invest in stocks and other financial instruments.
PASSED: 310-1, July 18
HR2553: The Airport and Airway Extension Act
SUMMARY: This bill provides for a temporary extension for eight weeks of certain authorities of the Federal Aviation Administration (FAA), which will expire July 22 under current law.
PASSED: 243-177, July 20
H.R. 2551, The Legislative Branch Appropriations for FY 2012
SUMMARY: The bill would provide a total of $3.32 billion in discretionary budget authority for all non-Senate Legislative Branch activities, which is $227 million or 6.4 percent below FY 2011 levels and $471.7 million or 12.4 percent below the president’s requested level. Included in this is another cut to Congressional office budgets, this one is an additional 6.4 percent.
HJRES 66: Approves Renewal of Import Restrictions Against Burma
SUMMARY: The measure approves the renewal of the restrictions originally enacted under the Burmese Freedom and Democracy Act
PASSED: By a voice vote