Monday, May 7, 2007

Finding the Peace on Capitol Hill

The action in Congress this week will be largely behind closed doors, as Democrats and Republicans struggle to craft an Iraq war spending bill that President Bush will not veto. A consensus seems to be forming around a bill that would fund the war for three months, with benchmarks. White House Chief of Staff Joshua B. Bolten and budget director Rob Portman are expected to make their second trip to Capitol Hill to meet with congressional leaders on the issue.

Meanwhile, the Senate will vote on a bill concerning the Food and Drug Administration that could allow the importation of prescription drugs from Canada and other countries. The White House is warning that such a bill may draw another veto.

Negotiations will continue in both chambers over the 2008 budget, and embattled Attorney General Alberto R. Gonzales is scheduled to testify Thursday before the House Judiciary Committee.

CHILLED CAMPAIGN: After two debates in as many weeks, the presidential campaign hits a quieter note this week. Michelle Obama, the wife of Sen. Barack Obama (D-Ill.), will get some publicity as she leads two gatherings in New Hampshire today. In Washington, former New York mayor Rudolph W. Giuliani (R) is to address the conservative Heritage Foundation tonight.

CHENEY ABROAD: Vice President Cheney goes to the Middle East this week for a six-day tour of U.S. allies, including Saudi Arabia, Egypt, Jordan and the United Arab Emirates.

INTEREST-ED PARTIES: The rocketing stock market will be watching a meeting of the Federal Open Market Committee on Wednesday. The Fed is expected to hold interest rates steady.

No doubt about it, there will be a bit of pomp and circumstance this week as Queen Elizabeth II and the Duke of Edinburgh attend the Bush administration's first white-tie state dinner at the White House tonight, followed by another event tomorrow night at the British ambassador's residence. It all begins with an arrival ceremony for the queen on the White House South Lawn at 10:50 this morning.