By Vicki Needham and Bernie Becker - 10/22/13 11:06 PM EDT
If lawmakers can make progress, then the deadlines at the start of next year could be a bit easier to manage.
Appropriators are hoping that they will have time to craft an omnibus spending bill by that time.
Meanwhile, Ryan, Murray and Senate Budget ranking member Jeff Sessions (R-Ala.) and House Budget ranking member Chris Van Hollen (D-Md.) are planning to hold an organizing conference call on Wednesday.
Fifteen days after Congress adjourns, the spending level will be cut by another round of sequestration to $968 billion.
Democrats and Republicans are starting from very different positions, but the conference could help set up a framework to tackle major issues that are plaguing the nation's bottom line.
WHAT ELSE WE'RE WATCHING
Capital formation: A House Financial Services subcommittee will chat with experts on Wednesday about seven pieces of legislation that could reduce hurdles to more capital formation.
Talking about my education: Treasury Secretary Jack Lew and Education Secretary Arne Duncan will address the Financial Literacy and Education Commission meeting, which is focusing on higher education and improving information for student loan borrowers.
Teaming up: President Obama and Vice President Biden will meet on Wednesday with Prime Minister Nawaz Sharif of Pakistan at the White House to discuss the relationship between the two nations and major global issues, including energy, trade and economic development, regional stability and countering violent extremism.
U.S.-Japan trade chat: Talks will continue on Wednesday with U.S. and Japanese trade officials about their parallel negotiations, which are part of the overall Trans-Pacific Partnership discussions.
Acting Deputy U.S. Trade Representative Wendy Cutler is leading the third round of negotiations in Washington on motor vehicles, insurance and other non-tariff issues.
Happy Anniversary: Tuesday marks the 27th anniversary of President Reagan signing the 1986 overhaul of tax code, the country's last major reform of the tax code.
A generation later, Senate Finance Committee Chairman Max Baucus (D-Mont.) and House Ways and Means Committee Chairman Dave Camp (R-Mich.) are pushing for a sequel to that effort, though lots of people believe Washington's partisan gridlock will be too much for them to overcome.
Still, give supporters of tax reform credit for latching on to this anniversary and pop culture to make their case that another code rewrite is long overdue.
The RATE Coalition, a corporate-backed group, pointed out that tennis champ Rafael Nadal, like the tax code, is 27.
James Pinkerton, one of RATE's co-chairs, noted that one of 1986's top hits was "That's What Friends Are For," featuring Dionne Warwick and an A-list of pop stars.
And Camp's own Ways and Means panel reminded us that "Top Gun" — yep, Goose and Maverick — flew its way into our hearts back in 1986 as well.
MBA Mortgage Index: The Mortgage Bankers Association releases its weekly report on mortgage application volume.
Export Prices-Import Prices: The Commerce Department releases its September report tracking trends in exports and imports, with the export data worth watching for indications of how the global economy is faring. Imports provide an indication of domestic demand, but given the severe lag of this report relative to other consumption indicators, it is not particularly valuable.
FHFA Housing Price Index: The Federal Housing Finance Agency will release its August measure of prices on single-family homes.
WHAT YOU MIGHT HAVE MISSED
— Shutdown could keep Fed pumping in 2014
— Obama picks Zients to oversee ObamaCare website fixes
— Dems to go on offense on taxes
— IRS: Shutdown to delay next tax filing season
— Audit: IRS allowing billions in improper tax payments
— Economy adds 148K jobs; unemployment rate falls to 7.2 percent
— White House says shutdown cost economy 120K jobs
— ATM company to pay $48 million over bribery charges
— Consumer bureau outlines examination process, unveils online regulation tool
— Poll: Voters warm to entitlement changes as part of broad debt plan
— Republicans push back on SEC efforts to write additional capital rules
— Poll: Public's view of economy at lowest level this year
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