Overnight Regulation: Senate confirms SEC pick | House GOP passes 'comp time' bill |

Overnight Regulation: Senate confirms SEC pick | House GOP passes 'comp time' bill |

Welcome to Overnight Regulation, your daily rundown of the news from the federal agencies, Capitol Hill, the courts and beyond. It's Tuesday evening here in Washington where President TrumpDonald John TrumpTrump: Meetings on potential North Korea summit going 'very well' Freed American 'overwhelmed with gratitude' after being released from Venezuela Ivanka Trump to campaign for Devin Nunes in California MORE sparked controversy by calling for a "good shutdown" in September and expressed frustration with the Senate filibuster. Read about that here.

 

THE BIG STORIES

Senate confirms Trump SEC pick: The Senate on Tuesday confirmed Jay Clayton, President Trump's pick to lead the Securities and Exchange Commission, in a 61-37 vote.

The Hill's Jordain Carney has the story:

Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellMcConnell sees Ohio in play as confidence about midterms grows   Giuliani: White House wants briefing on classified meeting over Russia probe GOP senators introduce Trump's plan to claw back billion in spending MORE (R-Ky.) praised Clayton ahead of the vote, saying he looked forward to "his leadership at this agency." 

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"I appreciate Mr. Clayton's willingness to take on this important task as well as his vision -- which he outlined at his hearing -- to promote fair and transparent practices at the SEC," he said on the Senate floor Tuesday. 

Only a simple majority was needed to approve the nominee, whose SEC term would expire in 2021.

Clayton was expected to get some Democratic support, after Sens. Michael BennetMichael Farrand BennetSenate Dems to Mnuchin: Don't index capital gains to inflation GOP, Dem lawmakers come together for McCain documentary Overnight Health Care — Sponsored by PCMA — Trump official won't OK lifetime limits on Medicaid MORE (D-Colo.), Tom CarperThomas (Tom) Richard CarperHillicon Valley: Sweeping new data rules take effect | Facebook, Google already hit with complaints | Schumer slams reported ZTE deal | Senators look to save cyber post | Dem wants answers about Trump's phone security Senator asks Pentagon again for info on Trump's cellphone security Senate Dems to Mnuchin: Don't index capital gains to inflation MORE (D-Del.), Maggie Hassan (D-N.H.), Heidi HeitkampMary (Heidi) Kathryn HeitkampOvernight Finance: Trump signs Dodd-Frank rollback | Snubs key Dems at ceremony | Senate confirms banking regulator | Lawmakers lash out on Trump auto tariffs Trump signs Dodd-Frank rollback Trump doesn't invite key Dems to signing ceremony on their bill MORE (D-N.D.), Joe ManchinJoseph (Joe) ManchinOvernight Finance: House sends Dodd-Frank rollbacks to Trump | What's in the bill | Trump says there is 'no deal' to help ZTE | Panel approves bill to toughen foreign investment reviews House votes to ease regulation of banks, sending bill to Trump Senators demand answers on Trump’s ZTE deal MORE (D-W.Va.), Claire McCaskillClaire Conner McCaskillMcConnell sees Ohio in play as confidence about midterms grows   Protect air ambulance services that fill the health care access gap in rural America Dems seek to chip away at Trump’s economic record MORE (D-Mo.), Bill NelsonClarence (Bill) William NelsonPoll: 8 in 10 people in key states concerned about driverless cars Ted Cruz and Bill Nelson give NASA a reality check on privatizing International Space Station Overnight Defense: Senate confirms Haspel as CIA chief | Trump offers Kim 'protections' if he gives up nukes | Dem amendments target Trump military parade MORE (D-Fla.), Jeanne ShaheenCynthia (Jeanne) Jeanne ShaheenHillicon Valley: Sweeping new data rules take effect | Facebook, Google already hit with complaints | Schumer slams reported ZTE deal | Senators look to save cyber post | Dem wants answers about Trump's phone security Senate panel targets Turkey's participation in F-35 program Judd Gregg: 'Medicare for all' means rationing for everyone MORE (D-N.H.), Jon TesterJonathan (Jon) TesterPro-Trump super PAC raises .5 million in 6 weeks Overnight Finance: Trump signs Dodd-Frank rollback | Snubs key Dems at ceremony | Senate confirms banking regulator | Lawmakers lash out on Trump auto tariffs Trump signs Dodd-Frank rollback MORE (D-Mont.) and Mark WarnerMark Robert WarnerThe Hill's Morning Report — Sponsored by PhRMA — The art of walking away from the deal Giuliani: Trump asked White House lawyer to go to Russia briefings Top Intel Dems denounce presence of Trump lawyer at classified briefings MORE (D-Va.) helped his nomination get over a procedural hurdle on Monday evening. 

Heitkamp, Manchin, McCaskill, Nelson and Tester are each up for reelection in states carried by Trump in the 2016 election. 

But the nomination split off some Democrats who voiced concerns that Clayton is too close to the industry he will help regulate as SEC chairman.

Sen. Elizabeth WarrenElizabeth Ann WarrenFortune 500 CEOs: The professional athletes of corporate America The Hill's Morning Report — Sponsored by PhRMA — The art of walking away from the deal Rising star Abrams advances in Georgia governor race MORE (D-Mass.) argued that under Clayton's leadership, the SEC won't be able to be the "cop on the beat for Wall Street." 

"I don't have any faith that Mr. Clayton will be the kind of tough, independent leader that we need at the SEC. His nomination is just one more broken promise, one more time that Donald Trump has put Wall Street ahead of the interests of the American people," the frequent Trump critic said. 

Click here for the full story.

 

GOP overtime bill: The House passed a Republican-backed overtime bill Tuesday that would give employees who work long hours more time off, but Democrats are concerned it will take a bite out of pay checks.

The Working Families Flexibility Act passed 229-197.

The overtime bill would give employees a choice between taking time off or being paid time-and-a-half when they work more than 40 hours in a week.

Republicans say this will provide more flexibility for working parents, who would like to spend more time with their family. "As a working mom myself, I understand all too well how challenging it can be to balance career and family," said Rep. Martha RobyMartha Dubina RobyTax law supporters rally for Republicans in tough races Singer Jason Mraz: Too much political 'combat' in Washington Alabama congressional candidate holding a drawing to win an AR-15 MORE (R-Ala.), who sponsored the bill.

"Ask any working parent and they'll tell you just how precious their time is," she added.

But Democrats argue low-wage workers who need the extra money could feel pressured to take time off when they would prefer a bigger paycheck.

At issue is the Fair Labor Standards Act, which requires private-sector companies to pay time-and-a-half to hourly employees who work overtime.

But some workers would rather take time off instead of receiving overtime pay, Republicans contend. This is known as "comp time." 

The GOP legislation would allow private sector companies to offer workers a choice between "comp time" and overtime pay. Workers could save as much as 160 hours -- or about one month's worth -- of paid time off. At the end of the year, their companies would pay them for any time off they don't use.

Employees would not be forced to take time off, if they prefer to cash in a bigger paycheck, Roby said.

Likewise, private-sector employers would not be forced to participate in the program. They could continue paying overtime, but would likely save money by offering paid time off instead.

This is the same way public-sector government employers operate, Republicans point out.

But Democrats argue that low-wage workers who need the money will feel pressure to take time off to appease their employers. "While they say it's voluntary and a matter of their choice, as a practical matter, it's not," said House Minority Whip Steny Hoyer (D-Md.).

He called it the "Freedom to Make Less bill."

"This bill takes away overtime pay and instead the worker gets a vague 'IOU'" said Rep. Suzanne BonamiciSuzanne Marie BonamiciCongress — when considering women’s health, don’t forget about lung cancer Overnight Energy: Two top Pruitt aides resign at EPA | 17 states sue EPA over car emissions rules | Volkswagen to pay West Virginia .5M over emissions cheating House Dems question Pruitt over possible plans for Tulsa EPA office MORE (D-Ore.).

Sen. Mike LeeMichael (Mike) Shumway LeeGOP senators introduce Trump's plan to claw back billion in spending Trump has exposed Democratic hypocrisy on prison reform Denial of services to same-sex couples can harm their health MORE (R-Utah) is sponsoring a companion bill, but it is unclear whether Republicans will be able to overtime a Democratic filibuster in the upper chamber.

Click here for the full story.

 

ON TAP FOR WEDNESDAY 

FBI Director James Comey will testify before the Senate Judiciary Committee in an FBI oversight hearing. 

The Senate Budget Committee will hold a hearing to examine the economy and private sector growth. 

The Senate Environment and Public Works Committee will hold a hearing to look at ways to streamline infrastructure projects to achieve faster, better and cheaper results. 

The House Transportation and Infrastructure Committee will hold a hearing on maritime regulatory issues. 

The House Appropriations Subcommittee on Financial Services and General Government will hold an IRS oversight hearing. 

 

TOMORROW'S REGS TODAY

Keep an eye on these rules in Wednesday's edition of the Federal Register:

--The U.S. Department of Agriculture (USDA) will issue new barley standards.

The standards go into effect on Aug. 1, 2018.

--The Labor Department's Occupational Safety and Health Administration (OSHA) will withdraw new workplace safety requirements to comply with a congressional mandate.

Under President Obama, OSHA issued new requirements for employers to report workplace injuries and illnesses online. But President Trump and the Republican-controlled Congress overturned those rules last month.

OSHA will withdraw the changes to the rule, but the original requirements remain in place.

The changes go into effect immediately.

--The Department of Transportation (DOT) will delay training requirements for railroad employees.

The Transportation Department's Federal Railroad Administration (FRA) issued new training requirements for railroad workers who have safety-related jobs in November 2014. But the agency says the training program will not be completed in time and must be delayed.

The delay goes into effect in 30 days.

 

NEWS RIGHT NOW 

Trump picks renewable energy policy skeptic to lead DOE office

Dems warn net neutrality repeal will spark 'public uproar'

House Dems move to delay GOP Dodd-Frank rewrite

House Republicans begin probe of monuments law

Airlines take heat for business practices at tense hearing

Trump to replace top banking regulator: report

Why Trump is fighting Canada on softwood lumber and dairy

Dems slam Trump while reigniting fight for LGBT rights 

NLRB rules sped up union elections by 38 percent 

Pentagon wants offshore drilling ban maintained in eastern Gulf 

EPA asks what rules to cut, gets earful about dirty water – AP 

 

BY THE NUMBERS

3: Proposed rules

4: Final rules 

(Source: Wednesday's Federal Register)