Tuesday: Reid's transaction account bill in the Senate, NDAA in the House

The Senate meets at 10 a.m., and after the weekly party lunches, senators will hold a procedural vote on a bill from Majority Leader Harry Reid (D-Nev.) that would extend a federal guarantee for certain financial accounts.

The bill is S. 3637, and it would extend the Transaction Account Guarantee (TAG) program, which was set up during the financial crisis and backs more than $1 trillion in accounts held by companies and municipalities.

At 2:15 p.m., the Senate will vote on a motion to end debate on a motion to proceed to the bill. If the motion to end debate passes, the motion to proceed will be approved immediately by unanimous consent.

The Senate was supposed to hold this procedural vote Monday, but it was delayed because many senators' return flights were delayed due to fog in Washington.

The House meets at noon for speeches, and later in the afternoon it will debate a motion to go to conference with the Senate on the National Defense Authorization Act, H.R. 4310. The Senate passed its version of the bill, S. 3254, last week.

A roll call vote on the motion is expected at 6:30 p.m.

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