Week of September 20, 2021
- This week, the U.S. House of Representatives and the U.S. Senate are in session for legislative business. Later in the week, the House is expected to take up a short-term Continuing Resolution to extend federal funding and keep the federal government open past the start of the fiscal year on October 1st. The chamber is also expected to consider H.R. 4350, the National Defense Authorization Act for Fiscal Year 2022, which authorizes funding for the U.S. Department of Defense and other national security programs. More than 850 amendments have been filed to the bill, including an amendment by Rep. Alma Adams (D-NC) to extend the student loan relief provisions included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act to private student loan borrowers and extends such protections until September 30, 2023 and an amendment by Rep. Madeleine Dean (D-PA) to direct the holder of a private education loan to discharge the loan in the event of the borrower’s death or total and permanent disability.
- On Tuesday and Wednesday, all-day, the Federal Reserve holds a two-day meeting of its Federal Open Market Committee to review the nation’s monetary policy. The minutes for each regularly scheduled meeting of the committee, which include a description of economic and financial conditions, are made available three weeks after its policy decisions are posted in the Federal Reserve Board’s Annual Report.
- On Tuesday at 2:00 p.m., NCHER holds its Monthly Membership Call, which will provide a summary and updates on major items being worked on by our committees, caucuses, and working groups; an update on federal and state efforts to combat the spread of the coronavirus pandemic, including any operational issues impacting the FFELP, Direct Loan, and private loan industry and their borrowers; a Washington Update, including recent legislative and regulatory actions by Congress, the White House, the Department of Education, the Department of Treasury, the Consumer Financial Protection Bureau, and the Federal Communications Commission; and a presentation by Rich Meade with Prime Policy Group who will join us to talk about the budget reconciliation process in the House and Senate as Congress begins consideration of the Build Back Better Act. Rich has more than 30 years of experience in legislative, regulatory, political, and public relations strategy. Note: The Zoom link has been circulated to each organization’s primary point of contact.
- On Wednesday at 10:00 a.m., the Senate Health, Education, Labor, and Pensions Subcommittee on Employment and Workplace Safety holds a hearing titled, “Getting America Ready to Work: Successful on the Job, Apprenticeship Training Programs to Help Workers and Business Get Ready to Work. Witnesses will be announced at a later date. The hearing will be livestreamed on the committee website.
- On Thursday at 10:00 a.m., the House Financial Services Subcommittee on National Security, International Development, and Monetary Policy holds a hearing titled, “Lending in a Crisis: Reviewing the Federal Reserve’s Emergency Lending Powers During the Pandemic and Examining Proposals to Address Future Economic Crises.” Witnesses will be announced at a later date. The hearing will be livestreamed on the committee website.
- There are no additional public events on higher education finance-related issues.