Week ahead: Let the funding battle begin

Avoiding a government shutdown is at the top of the agenda for lawmakers as they return to Washington for a brief fall session.

Congress needs to pass a short-term funding bill, or continuing resolution (CR), by the end of September to prevent the government from shutting down for the second time in two years.

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While both parties have expressed a desire to finish a funding bill quickly, partisan battles over what’s included in the legislation could create a standoff between the chambers.

Business groups are pushing for Congress to reauthorize the Export-Import Bank in the funding bill over the opposition of conservatives.

Centrist Republicans and most Democrats argue that the bank is needed to help sustain U.S. jobs and keep America competitive overseas.

The bank’s charter expires on Sept. 30, leaving Congress little time to act.

On Monday morning, Treasury Secretary Jack LewJacob (Jack) Joseph LewThe Hill's Morning Report - Biden argues for legislative patience, urgent action amid crisis On The Money: Senate confirms Yellen as first female Treasury secretary | Biden says he's open to tighter income limits for stimulus checks | Administration will look to expedite getting Tubman on bill Sorry Mr. Jackson, Tubman on the is real MORE will speak at a forum hosted by the Urban Institute to discuss changing the tax system. 

Lew could unveil steps the administration is taking without Congress to prevent U.S. businesses from moving their corporate headquarters overseas to dodge taxes, a practice commonly referred to as an "inversion."

And it’s not just the CR and Ex-Im drama that will keep lawmakers busy next week.

On Tuesday, top regulators will testify before the Senate Banking Committee about Wall Street reform efforts.

The panel will hear from Federal Reserve Board Governor Daniel K. Tarullo; Federal Deposit Insurance Corporation Chairman Martin Gruenberg; Currency Comptroller Thomas Curry; Consumer Financial Protection Bureau Director Richard Cordray; U.S. Securities and Exchange Commission Chairwoman Mary Jo White; and U.S. Commodity Futures Trading Commission Chairman Timothy Massad.

Expect Republicans on the committee to criticize how the consumer bureau is handling its allocated funds for office renovations.

On Wednesday, the House Financial Services Committee will hold a hearing titled "An Overview on the Credit Reporting System." Consumer Data Industry Association CEO Stuart Pratt will testify, as will National Consumer Law Center staff attorney Chi Chi Wu. 

Also on Wednesday, retailers and bankers will team up for the 2014 Merchant-Financial Cybersecurity Summit. Speakers include House Intelligence Committee Chairman Mike Rogers (R-Mich.) and former GOP presidential candidate Tim Pawlenty, who is now CEO of the Financial Services Roundtable. Bloomberg Government is sponsoring the event.

On the other side of the world, former Secretary of State Hillary ClintonHillary Diane Rodham ClintonSuper PACs release ad campaign hitting Vance over past comments on Trump I voted for Trump in 2020 — he proved to be the ultimate RINO in 2021 Neera Tanden tapped as White House staff secretary MORE will join Caroline Kennedy and International Monetary Fund chief Christine Lagarde for a panel in Tokyo on Friday about women working in the economy.

The Commerce Department will release data Friday on U.S. retail sales, with most forecasts calling for an uptick in those numbers because of back-to-school shopping.

 

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