Once the rule is passed, members will date that bill for an hour, and start work on 16 amendments, but is expected to finish Friday.
The interest rate bill is H.R. 4628, the Interest Rate Reduction Act. This bill would keep the interest rate on subsidized loans at 3.4 percent for another year. Republicans quickly introduced that bill on Wednesday in response to ongoing Democratic calls for action to keep the rate low, and will vote on the bill Friday.
In contrast, Senate Majority Leader Harry Reid (D-Nev.) on Wednesday proposed a Democratic alternative, one that would require high-income earners who receive income from S-corporations to subject more of their income to the payroll tax.
Also in the House on Thursday, the House will debate and vote on another cybersecurity bill, H.R. 4257, the Federal Security Amendments Act. This bill, from Oversight and Government Reform Committee Chairman Darrell Issa (R-Calif.), is aimed at improving the security of federal computer networks, and is on the suspension calendar, which will require a two-thirds majority vote.
Votes on two remaining land-use bills are also possible under suspension — H.R. 2050, the Idaho Wilderness Water Resources Protection Act, and H.R. 2240, the Lowell National Historical Park Land Exchange Act.
The Senate returns at 9:30 a.m., and technically will resume debate on the Violence Against Women Reauthorization Act, S. 1925.
At 11:30 a.m., members will quickly debate two judicial nominees — Gregg Costa and David Guaderrama — to be district judges for the Southern and Western District of Texas, respectively. Votes on these nominations are scheduled for noon.