Both chambers are scheduled to consider a continuing resolution for fiscal year 2011 this week. FY 2011 begins on Friday, October 1, and with none of the regular appropriations bills passed this year, funding for the operation of the federal government must be approved by then. The Senate is set to take up the bill first, with votes taking place midweek. The House is then expected to vote on the Senate-passed version in full, clearing the measure for the president’s signature before Friday.
More from CAP:
- A Thousand Cuts: What Reducing the Federal Budget Deficit Through Large Spending Cuts Could Really Look Like by Michael Ettlinger and Michael Linden
- Deal with It: A Guide to the Federal Deficit and Debt by Michael Ettlinger and Michael Linden
- A Path to Balance by Michael Ettlinger, Michael Linden, and Lauren D. Bazel
The House may still schedule votes this week on extending the Bush tax cuts even though action in the Senate has been postponed until after this November’s midterm elections. If House leadership chooses to hold the votes, there will likely be two separate measures considered—one vote on extending the cuts for the middle class and another on extending the cuts for those in the top 2 percent of earners.
The House will also vote on a bill targeting China’s undervaluing of their currency, the yuan. The bill allows the Commerce Department to impose additional duties on goods imported from countries with undervalued currency.
The Senate will hold a cloture vote Tuesday afternoon on a bill designed to halt the outsourcing of American jobs overseas. The bill provides tax incentives for companies to move overseas jobs back into the United States and eliminates tax breaks for companies that export jobs.
More from CAP:
- Three Good Reasons to Let the High-End Bush Tax Cuts Disappear This Year by Michael Linden and Michael Ettlinger
- Public Opinion Snapshot: Tax Cuts for the Middle Class Are Good; Tax Cuts for the Rich Are Bad by Ruy Teixeira
- Golden Years for the Gilded by Michael Linden
The House will this week take up H.R. 847, the James Zadroga 9/11 Health and Compensation Act, a bill to provide additional health services to 9/11 first responders. Previously, the bill failed to achieve the necessary two-thirds majority for passage in late July when Republicans voted en masse against the measure. This week the bill will be considered under a rule for debate and will only require a simple majority to pass.