Week ahead: Senate turns to Dodd-Frank | Fannie, Freddie get check-up | New stage in ObamaCare fight

Week ahead: Senate turns to Dodd-Frank | Fannie, Freddie get check-up | New stage in ObamaCare fight
© Getty Images

Lawmakers are coming off a busy week in Washington, with Congress passing a spending deal to avoid a shutdown, and the House finally passing legislation to repeal-and-replace ObamaCare.

President Trump on Friday signed a $1 trillion bill to fund the government through September.

The deal didn't include many of Trump's top priorities including provisions for border wall funding or for stripping federal funds from jurisdictions that don't comply with national immigration laws.

Republicans though touted a boost in defense spending without a corresponding increase in non-defense spending.

Both sides are already looking ahead to the next spending fight this fall.

ADVERTISEMENT

That fight could be tougher for both sides, with Trump insistent he'll want funding for a wall on the border with Mexico and with Congress also having to tackle the debt ceiling later this year.

The ObamaCare debate will also shift to the Senate in the coming week, after the House in a razor-thin votepassed repeal legislation  Thursday. Lawmakers capped off the vote with a celebratory  Rose Garden press conference with Trump.

The Senate, though, has signaled that it will move at its own pace. And Senate Republicans are vowing big changes to the bill, largely dismissing the House blueprint.

GOP senators from Medicaid expansion states worry the bill doesn't do enough to protect their constituents, while others say the bill doesn't go far enough to protect coverage for pre-existing medical conditions. Some worry a bill to repeal ObamaCare can't pass the upper chamber at all.

On the finance front, the Senate Banking Committee will also begin work on their own fixes to the Dodd-Frank Act after the House Financial Services Committee on Thursday passed a sweeping rewrite of the 2010 law. The CHOICE Act, sponsored by Financial Services Committee Chairman Jeb Hensarling (R-Texas), passed the panel with unanimous GOP support, and is likely to pass the House.

But the Senate Banking Committee has shown little interest in Hensarling's bill, and Treasury Secretary Steven Mnuchin stopped short of endorsing it last month. Instead, the Senate committee is likely to start with housing finance reform and relief for community banks, two areas of wide bipartisan agreement.

The Banking Committee will also host former Federal Housing Finance Agency Director Mel Watt on Thursday for a hearing on government-sponsored housing assistance.

 

Your week ahead:

Monday:

  • U.S. Chamber of Commerce to host the Minister of Foreign Affairs for the Dominican Republic, 10 a.m.

 

Wednesday:

  • Senate Banking Subcommittee on National Security and International Trade and Finance: Hearing entitled "Secondary Sanctions Against Chinese Institutions: Assessing Their Utility for Constraining North Korea," 10 a.m. http://bit.ly/2pORTeg.
  • Senate Budget Committee: Hearing on economic growth policies for the new administration, 10:30 a.m. http://bit.ly/2pP8v5t.

 

Thursday:

  • Senate Banking Committee: Hearing entitled "The Status of the Housing Finance System After Nine Years of Conservatorship," featuring former FHFA Director Mel Watt, 10 a.m. http://bit.ly/2pP8K0p.

 

Recap the week with Overnight Finance:


Monday: Spending deal winners and losers | Seven things to know about the deal | Trump mulls breaking up big banks

Tuesday: Trump raises stakes for next shutdown fight | Senate confirms SEC pick | Dems drag out markup of Dodd-Frank overhaul
Wednesday: House passes spending deal | Panel slogs toward Dodd-Frank vote | Fed holds rates steady | Obama takes Dem flak for Wall Street speaking fees | Puerto Rico seeks form of bankruptcy protection

Thursday: Senate passes funding deal to avert shutdown | House GOP, Trump celebrate ObamaCare repeal vote | GOP Dodd-Frank rewrite advances

 

Today's stories:

 

Write us with tips, suggestions and news: slane@thehill.comvneedham@thehill.comnjagoda@thehill.com and nelis@thehill.com. Follow us on Twitter: @SylvanLane,  @VickofTheHill@NJagoda and @NivElis