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Posted at 12:09 PM ET, 07/11/2011

The week ahead on the Hill: Short-term debt limit deal off the table


(BRENDAN SMIALOWSKI/BLOOMBERG)
President Obama and Vice President Biden are set to sit down at 2 p.m. today for their latest meeting with congressional negotiators as the White House-set deadline for reaching a deal looms 11 days away.

At a news conference Monday morning previewing the day’s talks, Obama said that leaders are “going to meet every single day until we get this thing resolved.” He also explicitly ruled out any 30- , 60- or 90-day deal.

“This is the United States of America,” Obama said. “We don’t manage our affairs in three-month increments.”

With a short-limit extension off the table – as well as a broader $4 trillion deal out of the picture as of Saturday night – the task ahead for the group is to reach a deal in the ballpark of $2.4 trillion, which would extend the country’s borrowing ceiling through the end of next year.

Also happening this week: the House makes its way through the fiscal year 2012 Energy and Water Appropriations Act; the Financial Services and General Government Appropriations Act; and a host of other measures, while the Senate is slated to vote Monday on a symbolic resolution on “shared sacrifice” in the debt-limit talks.

Here’s a closer look at the week ahead:

Monday

The House is in at noon to consider two measures: the 2012 Energy and Water Appropriations Act and the Better Use of Light Bulbs (BULB) Act. Votes are expected at 6:30 p.m. The Senate is in session at 2 p.m. and is expected to vote at 5:30 p.m. to end debate on S.1323, a bill to express the sense of the Senate on shared sacrifice in resolving the budget deficit.

Committee hearings/other events

12:30 p.m.: House Majority Leader Eric Cantor (R-Va.) holds his weekly pen-and-pad briefing.

1 p.m.: The U.S. Chamber of Commerce hosts its second annual jobs summit.

2 p.m.: President Obama, Vice President Biden and congressional leaders hold their latest debt-limit meeting at the White House.

3:30 p.m.: A House Judiciary subcommittee and Ways and Means subcommittee hold a joint hearing on the role of administrative law judges at the Social Security Administration.

4 p.m.: A House Veterans’ Affairs subcommittee holds a hearing on “Implementation of Caregiver Assistance: Moving Forward.”

Tuesday

The House is in at 10 a.m. Several legislative items are on the agenda for Tuesday and the rest of the week, including the Flood Insurance Reform Act of 2011; the Clean Water Cooperative Federalism Act of 2011; the 2012 Energy and Water Appropriations Act; the Financial Services and General Government Appropriations Act; and the FAA Air Transportation Modernization and Safety Improvement Act. The Senate is also in session.

Committee hearings/other events

8:30 a.m.: Treasury Secretary Timothy Geithner and Valerie Jarrett, senior adviser and assistant to President Obama, speak at a Treasury symposium on “Women in Finance Investment.”

9 a.m.: House Majority Leader Eric Cantor (R-Va.), Nancy-Ann DeParle, deputy chief of staff to President Obama and Douglas Elmendorf, director of the Congressional Budget Office participate in a U.S. Chamber of Commerce conference on rising health-care costs.

9 a.m.: The Middle East Institute holds a discussion on “Humanitarian Disaster in the Making? A Status Report on the Humanitarian Situation on the Ground in Libya.”

10 a.m.: Former Senate majority leader Tom Daschle (D-S.D.) and former Homeland Security secretary Tom Ridge discuss “The Smart Power Agenda in the 2012 Campaign” at the Grand Hyatt Hotel.

10 a.m.: The House Budget Committee holds a hearing on “Medicare’s Future: An Examination of the Independent Payment Advisory Board.”

10:15 a.m.: The Joint Economic Committee holds a hearing on “Manufacturing in the USA: Training America’s Workforce.”

Noon: The House Foreign Affairs Committee holds a hearing on “Human Rights in Cuba.”

Noon: The First Amendment Center holds a news conference to release and discuss the results of its “2011 State of the First Amendment Survey” at the National Press Club.

1 p.m.: House Budget Committee Chairman Paul Ryan (R-Wis.) and Reps. Earl Blumenauer (D-Ore.) and Ron Kind (D-Wis.) participate in an American Enterprise Institute forum on “Subsidy Myths Survive Decades after Depression.”

1 p.m.: The House Oversight Committee holds a hearing on “Fulfilling A Legal Duty: Triggering a Medicare Plan From the Administration.”

2:30 p.m.: The Senate HELP Committee holds a hearing on “The Power of Pensions: Building a Strong Middle Class and Strong Economy.”

2:30 p.m.: The Senate Select Intelligence Committee holds a closed-door briefing.

Wednesday

The House is in at 10 a.m. to consider the measures it began taking up Tuesday. The Senate is also in session.

Committee hearings/other events:

9 a.m.: The House Ways and Means Committee and the Senate Finance Committee hold a joint hearing to review debt and equity in the context of comprehensive tax reform.

10 a.m.: The House Homeland Security Committee holds a hearing on “Ten Years After 9/11: Preventing Terrorist Travel.”

10 a.m.: The House Budget Committee holds a hearing on “Medicare and Social Security: The Fiscal Facts. The Sustainability of America’s Health and Retirement Security Programs.”

10 a.m.: The Senate Judiciary Committee holds a hearing on “The Violence Against Women Act: Building on Seventeen Years of Accomplishments.”

11:15 a.m.: House Majority Whip Kevin McCarthy (R-Calif.) discusses innovation initiatives and legislation in the 112th Congress at an event at the Reagan Building.

Thursday

The House is in session at 10 a.m. and will continue its work on the Flood Insurance Reform Act and other measures. The Senate is also in session.

Committee hearings/other events:

8 a.m.: Sen. Jeff Sessions (R-Ala.) discusses “Senate Outlook on Nuclear Deterrence, Missile Defense, and Proliferation Threats” in a speech to the National Defense University Foundation at the Capitol Hill Club.

9 a.m.: A House Energy and Commerce subcommittee holds a hearing on “Regulatory Chaos: Finding Legislative Solutions to Benefit Jobs and the Economy.”

10 a.m.: The House Foreign Affairs Committee meets to mark up the fiscal year 2012 Foreign Relations Authorization Act.

10 a.m.: Federal Reserve Chairman Ben Bernanke testifies at a Senate Banking Committee hearing on “The Semiannual Monetary Policy Report to the Congress.”

2 p.m.: The House Select Intelligence Committee holds a hearing on “Preventing Violent Extremism in America: A Report From the Bipartisan Policy Center.”

11:30 a.m.: MyGoodDeed and the HandsOn Network hold a flag stitching event featuring House Homeland Security Committee Chairman Pete King (R-N.Y.) and Sen. Charles Schumer (D-N.Y.) at 325 Russell Senate Office Building.

2:30 p.m.: The Senate Foreign Relations Committee holds a hearing on “Two New Sudans: A Roadmap Forward.”

Friday

The House is in at 9 a.m., with last votes expected no later than 3 p.m. The Senate is also in session.

Committee hearings/other events

10 a.m.: Sen. Ben Cardin (D-Md.) and Rep. Chris Smith (R-N.J.) chair a Helsinki Commission hearing on “Promises We Keep Online: Internet Freedom in the Organization for Security and Cooperation in Europe Region.”

10 a.m.: The House Homeland Security Committee holds a hearing on “Homeland Security Contracting: Does the Department Effectively Leverage Emerging Technologies.”

10 a.m.: The House Veterans’ Affairs Committee holds a hearing on the “Veteran Opportunity to Work Act of 2011”

By  |  12:09 PM ET, 07/11/2011

 
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