The Week in Congress: February 2 - 6, 2009

SOURCE: AP/Pablo Martinez Monsivais

Rush hour traffic on Independence Avenue makes its way past the U.S. Capitol Building.

February 2, 2009

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Economic recovery

The Senate begins debate today on H.R. 1, the American Recovery and Reinvestment Act. The Senate version includes $522 billion in tax cuts, including a one-year patch for the Alternative Minimum Tax, and $365 billion in targeted spending.

Read more from CAP on recovery and reinvestment:

Background brief: Recovery and Reinvestment 101

Interactive Maps: Recovery Beyond the Beltway

Infographic: The Stimulus: Four Reasons We Can't Afford Not to Have One

Interactive: Design Your Own Stimulus Package

Health care

The House will take up the Senate-amended version of H.R. 2, the Children’s Health Insurance Program Reauthorization Act. The measure will reauthorize the State Children’s Health Insurance Program, or SCHIP, for four and a half years at a cost of $32.8 billion, expanding the number of children covered by the program by 4 million. The House is expected to clear H.R.2 without amendments, sending the measure to President Obama.

Read more about SCHIP from CAP:

Column: Putting Children’s Health Before Ideology

By the Numbers: Long Overdue for Children's Health Insurance

Book: The Health Care Delivery System: A Blueprint for Reform

Housing and finance

This week, Congress will hold several hearings concerning the financial markets and the housing crisis. On Tuesday, the House Financial Services Committee will hold a hearing entitled, “Promoting Bank Liquidity and Lending Through Deposit Insurance, Hope for Homeowners, and other Enhancements.” A full committee markup of related legislation is expected on Wednesday.

On Thursday, the Senate Banking Committee will hold a hearing focusing on oversight of the Troubled Assets Relief Program.

Learn more about housing from CAP:

Interactive Map: Helping States Deal with Foreclosures

Column: Time to Quarantine the Foreclosure Epidemic

Appropriations

The House is scheduled to consider a consolidated appropriations bill incorporating nine separate spending bills for fiscal year 2009. Last year, Congress passed three individual appropriations bills: Defense, Military Construction and Veterans Affairs, and Homeland Security, as well as a continuing resolution funding the remaining federal government programs until March 6. The consolidated bill completes the fiscal year 2009 funding for the remaining nine appropriations bills.

More on appropriations:

Column: Stimulative Action

Interactive: Design Your Own Defense Budget