Building Back Better, March 23, 2021

Brownstein Hyatt Farber Schreck

Note: Congress recently voted on a $1.9 trillion COVID-19 stimulus package—the American Rescue Plan Act (ARPA, P.L.117-2). It includes stimulus checks for individuals, expanded unemployment benefits, and funding for vaccines, state and local governments, schools and child care. The ARPA marks a huge win for the Biden administration during its first 50 days in office.

Before the ink is dry, the administration has already pivoted to the second phase of the Biden agenda: Build Back Better. While ARPA was largely a relief bill, the next phase will be about rebuilding the economy, starting with a multitrillion-dollar plan that includes infrastructure, green energy and incentives to bolster domestic manufacturing. It will also build upon the individual relief provided in the first bill and seek to make those provisions permanent and will likely be paid for by corporate tax rate increases, a repeal of oil and gas tax breaks and increases in taxes on the wealthy.

As discussions progress, this weekly newsletter will summarize the latest developments on the Build Back Better agenda and provide intel from discussions on Capitol Hill and the Biden administration, giving our readers insight on the latest state of play on the next package.


What to Watch Next Week

  • Hearings Galore. The House is out of session for the next three weeks, but committees will be meeting this week to conduct hearings and other legislative business. The Senate will start its two-week state work period next week. Ahead of the spring recess, multiple committees have scheduled hearings on the Build Back Better package. Read our State of Play for more information.
  • Final Touches. The administration, which has yet to formally say that infrastructure is next on the agenda, must still put together the specifics of the forthcoming package. If past is prologue, expect the administration to follow a playbook similar to the ARPA—release an outline with broad, topline numbers, the details of which will later be decided by Congress. Administration staffers are expected to present a proposal to the president this week on recommendations for a two-part strategy to move the next package. Read our State of Play for more information.
  • Janet and Jerome. Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell will testify together this week before the House Financial Services Committee and the Senate Banking Committee. Their comments will be watched closely for revelations about the state of the economy, how the federal government is implementing various COVID-19 relief laws and reactions to certain legislative proposals.
  • Clearing Nominees. The Senate will vote this week to confirm a number of Biden administration nominees whose agencies will be central to implementing portions of the Build Back Better package. These include Shalanda Young, nominee to be deputy director of the Office of Management and Budget; David Turk, nominee to be deputy secretary of energy; and Adewale Adeyemo, nominee to be deputy secretary of the treasury.

Latest Developments

Congress
  • Gaining Momentum. The House is preparing to advance legislation in the coming weeks thought to be more appealing to Republicans, with the aim of fortifying bipartisanship ahead of the infrastructure push. This includes the so-called “China package,” which will address supply chain security and reinvigorate domestic manufacturing capabilities through tax incentives, in addition to other China-focused policies.
  • Greasing the Wheels. The White House and congressional Democrats are again seeking to move their legislative agenda with bipartisan support, but after spending trillions in response to the COVID-19 pandemic, Republicans are hesitant to approve any additional spending. To make their proposed infrastructure package more palatable, Democrats have suggested attaching earmarks. While both parties in the House have signed onto the idea, Senate appropriators continue to hash out the details and could release a decision soon. Read the Infrastructure Section for more information.
  • G-20. A group of 20 senators, equally divided between the parties, is seeking to address key legislative goals without eliminating the filibuster. The group, which has been dubbed “G-20,” is currently discussing issues related to immigration, infrastructure and the minimum wage. If the group remains unified, it represents an opportunity for either party to secure 60 votes, the threshold needed to break a filibuster. The positions the group takes on policies could play an influential role in the development of the Build Back Better package.
Biden Administration
  • Biden Budget. The Biden administration has been slow to release its budget request—something the White House typically sends to Congress in February. That timeline has slipped for the new administration, due in part to the changing of the guard and the absence of someone to head the Office of Management and Budget. President Biden is expected to release his “skinny budget” next week, which will outline the administration’s top-line spending requests. The Treasury Department is also expected to revive the “Green Book” for the first time in four years. This will give stakeholders a better sense of revenue raisers that the administration is considering to pay for the next package. 

STATE OF PLAY

Ahead of next week’s spring recess, multiple committees have scheduled hearings on the Build Back Better package. This includes:

  • Monday: House Energy and Commerce Committee on the LIFT America Act
  • Wednesday:
    • House Transportation and Infrastructure Committee on the administration’s priorities with Transportation Secretary Pete Buttigieg as a witness
    • Senate Commerce Committee on ways to rebuild transportation infrastructure
    • House Appropriations Committee on creating equitable communities through transportation and housing
    • House Energy and Commerce Committee on the CLEAN Future Act   

In terms of financing a Build Back Better package, the Ways and Means Committee will hold a Members’ Day hearing on infrastructure proposals later this week. On Thursday, the Senate Finance Committee will hold a hearing entitled “How U.S. International Tax Policy Impacts American Workers, Jobs and Investment,” during which they are expected to discuss potential payfors. The Joint Committee on Taxation released a report ahead of the hearing, which states that the average tax rates on U.S. corporations fell to 7.8% after the passage of the Tax Cuts and Jobs Act. The report also indicates that tax-shifting strategies are still prevalent, though the GILTI acts at least partially as a deterrent to this practice. The report is expected to fuel a debate over potential changes to the current international tax system.

Committee hearings will provide early insight into proposals that are being considered for inclusion, what lawmakers are considering as revenue raisers, and where there might be room for bipartisan compromise. At last week’s Senate Finance Committee hearing on the effect of the tax code on domestic manufacturing, there was broad consensus on incentives to spur domestic production. Additionally, there were signs that lawmakers might be able to compromise on preserving certain expiring benefits enacted by the Tax Cuts and Jobs Act, such as a continuation of the immediate deduction for R&D and an I.R.C. Sec. 163(j) calculation based on EBITDA, not EBIT, in exchange for an increase in the corporate tax rate to 25% or 26%. Check back next week for our takeaways from this week’s committee hearings.

To date, the Biden administration has been largely silent on their priorities for the next package. Administration staffers are expected to present a proposal to the president this week, recommending that he carve his $3 trillion economic proposals into two separate legislative pieces, which might be easier to push through a narrowly Democratically controlled Congress. The first package is intended to be bipartisan, focusing on investments in infrastructure, domestic manufacturing incentives that purport to create millions of jobs, and climate change proposals to reduce carbon emissions and encourage clean energy development. The package would also include funding for rural broadband, worker training, and energy-efficient housing. It is unclear if the administration plans to include payfors in this package or save it for a second package since Senate Minority Leader Mitch McConnell (R-KY) has already signaled that he will not support corporate rate increases to fund a massive spending bill.

The second package would focus on human capital—investments in education, worker training programs, and incentives to increase female labor force participation by including incentives to balance work and caregiving. It might also include free community college, universal pre-K, efforts to reduce child care costs, and a national paid leave program. The second package is unlikely to gain GOP support, making reconciliation the only viable path forward.


LEGISLATIVE UPDATES

A report on the latest intel and proposals as lawmakers start to outline a legislative framework for Build Back Better legislation.

Infrastructure Updates

Spotlight on VMTs. Lawmakers in both chambers are continuing to examine methods to pay for the next highway bill; reports emerged last week that the Senate Finance Committee is again considering a truck-only vehicle miles traveled tax (VMT), a proposal that earned the support of then-Senate Environment and Public Works (EPW) Committee Chair John Barrasso (R-WY) in the 116th Congress. The trucking industry has repeatedly denounced the proposal, with some groups calling it “discriminatory” and threatening that its inclusion would “destroy any hope” of passage.

The Congressional Budget Office (CBO) examined options for truck-specific VMTs in 2019. The report concluded that the various proposals under consideration, while generating revenue, would also likely cause overall freight shipments to drop, drive some freight traffic off trucks and onto railroads, reduce receipts of income and payroll taxes, and create costs (capital, field enforcement, implementation, etc.) for the federal government.

Other proposals to partially fund the next infrastructure package include one from Transportation and Infrastructure Committee Ranking Member Sam Graves (R-MO). In a March 12 statement, Ranking Member Graves proposed testing a VMT on the U.S. Postal Service’s fleet before launching one on the national level. He said the model “could provide an ideal opportunity to test a much-needed replacement for the obsolete gas tax.” Rep. Graves is a longtime supporter of a VMT and the postal fleet is scheduled to incorporate a growing number of electric vehicles over the next decade under a contract awarded to OshKosh Defense in February.

Democrats’ $1.5 trillion Moving Forward Act, a wide-reaching surface transportation reauthorization that passed the House in the 116th Congress, included funding for state-level VMTs and a national VMT pilot program.

Return of the Earmarks. In a secret vote on March 17, House Republicans approved a resolution from Rep. Mike Rogers (R-AL) to remove their prohibition on earmarks. House Appropriations Committee Ranking Member Kay Granger (R-TX) was an advocate for the change, which includes new safeguards against abuse. Earmarks were banned by both parties in 2011 over concerns around fraud and mismanaged funds.

Under the reworked earmarks process announced by the House Appropriations Committee on Feb. 26, members will be required to post their requests online, submit a written request to the committee with an explanation of the project, and certify that they and their immediate family have no financial interest in the projects. Members must also “provide evidence of community support that were compelling factors” in their request. The committee is rebranding earmarks as “Community Project Funding” and capping overall support at 1% of discretionary spending. Members can submit up to 10 funding requests.

The Senate is also developing a process to reinstate earmarks. Senate Appropriations Committee Ranking Member Richard Shelby (R-AL) remarked last week that he may push for stricter transparency standards than those proposed by Democrats, expressing concerns about “widespread, frivolous earmarks.” Sen. Shelley Moore Capito (R-WV), ranking member of the Senate Environment and Public Works Committee, anticipates a “big discussion” on the proposal within the caucus.

With reconciliation emerging as the most likely legislative vehicle for an infrastructure package, lawmakers are hopeful the return of earmarks may spur further bipartisanship in this space. If infrastructure legislation does ultimately move through reconciliation, the Senate’s Byrd Rule may endanger any earmarked projects. Senate Majority Leader Chuck Schumer (D-NY) and Sens. Ben Cardin (D-MD) and Bernie Sanders (I-VT) separately last week signaled their expectations for any infrastructure bill to move, at least in part, through reconciliation.

In March, the Senate parliamentarian prevented the inclusion of a provision to fund an extension of the Bay Area Rapid Transit from going to the floor as part of the previous reconciliation bill, the American Rescue Plan Act.

Industries Seek Biden’s Backing. Many groups in the transportation industry are preparing proposals for the transportation package, which Heather Boushey of the White House Council of Economic Advisors expects will have a “broadly defined” view of infrastructure. Traditional projects aside, Boushey called for further investments in child and elder care, climate change and the power grid, among other areas. Her comments line up with congressional Democrats’ expanded scope of infrastructure, as reflected in the Moving Forward Act.

According to Cedric Richmond, a White House senior advisor and director of the Office of Public Engagement, the White House is considering the permitting process for the Army Corps of Engineers. The Army Corps is responsible for permits for many activities in navigable U.S. waters and the process is a source of frustration for ports.

Transportation Secretary Pete Buttigieg will disclose further details on the Biden administration’s infrastructure priorities during a virtual appearance before the House Transportation and Infrastructure Committee on March 25. Committee Chair Pete DeFazio (D-OR) suggested Buttigieg “eat his Wheaties” in preparation for his first congressional appearance as secretary. He is likely to rile Republicans by discussing the importance of including climate and other nontraditional infrastructure items in the bill.

Airlines, meanwhile, are reportedly readying a $1.2 billion request to subsidize equipment upgrades. The improvements would be used to improve connectivity with the Federal Aviation Administration’s (FAA) Next Generation Air Transportation System (NextGen) modernization plan, reduce fuel emissions and noise, and boost sustainability, among other priorities.

Green Energy Updates

CLEAN Future Act. On March 2, Democrats on the House Energy and Commerce Committee introduced the revised version of the Climate Leadership and Environmental Action for our Nation’s (CLEAN) Future Act (H.R.1512). The bill would set a national goal of net-zero carbon emissions by 2050, provide incentives for renewable energy, and reduce emissions across the power, building, transportation, manufacturing, and oil and gas sectors. However, the legislation as written would face significant hurdles obtaining 60 votes in the Senate or adhering to reconciliation requirements, and so changes will likely be needed before the bill advances.

The CLEAN Future Act would set an interim goal of achieving a 50% reduction in emissions from 2005 levels by 2030, in addition to the goal of net-zero emissions by 2050. Federal agencies would be directed to develop plans in order to attain these goals. Retail electric suppliers would be required to produce 100% of their energy from zero-emission sources by 2035. States would also be required to submit climate plans to the Environmental Protection Agency (EPA) to meet the interim and 2050 goals.

A Clean Energy and Sustainability Accelerator would be created to finance low- and zero-emissions energy technologies, climate resiliency projects, building efficiency and electrification, industrial decarbonization, grid modernization, agriculture projects, and clean transportation. In the first year, $50 billion would be provided and $10 billion would be provided for each of the five subsequent fiscal years, for a total of $100 billion. At least 40% of investment activity would be directed toward communities disproportionately impacted by climate change and environmental hazards.

The bill would also make investments to assist workers and communities in the clean energy transition. One hundred million dollars would be provided for energy workforce development programs and grants to train workers in the renewable energy sector. An interagency task force and a stakeholder advisory committee would also be established to coordinate programs addressing workers and communities adversely affected by the transition. To help local governments that have lost revenue as a result of the transition, the bill creates a financial assistance program that will provide eligible entities with funding up to 90% of lost revenue in the first and second years, with this amount gradually decreasing to 25% in the seventh and eighth years of the program.

LIFT America Act. House Energy and Commerce Committee Democrats introduced the Leading Infrastructure for Tomorrow’s (LIFT) America Act on March 11. The bill would invest in electrical grid resilience and efficiency, electric vehicle infrastructure, and clean energy infrastructure in cities and communities in order to address climate change and protect the environment.

The LIFT America Act would provide nearly $3.9 billion between fiscal years 2022 and 2026 for electrical grid infrastructure, with a focus on grid modernization, security, resilience and efficiency. In addition, $500 million would be invested in school energy efficiency retrofits and $6.5 billion would be provided for home energy efficiency retrofits.

In order to expand renewable energy infrastructure, the bill would provide $1.25 billion to low-income communities to replace existing methane pipelines; $1 billion would be given to low-income and underserved communities for solar energy infrastructure deployment; and $250 million would also be provided to states, tribes, electric utilities, and institutions of higher education to support clean distributed energy and grid resilience. Like the CLEAN Future Act, this bill would also create an accelerator to finance clean energy projects, for which $18 billion is provided.

Additionally, the bill would make investments in clean energy infrastructure for state, city, county and municipal governments. To help local governments develop clean energy solutions, $850 million in grants, technical assistance and training would be provided, and $375 million would support the expansion of alternative fuel infrastructure and use of alternative fuel vehicles. The State Energy Program would also be reauthorized at $625 million per year between fiscal years 2022 and 2026. Funding would also be provided to develop electric vehicle charging infrastructure and state electric vehicle fleets.

The House Energy and Commerce Committee will be holding a hearing on the bill on March 24.

SCALE Act. On March 17, the bipartisan Storing CO2 and Lowering Emissions (SCALE) Act was introduced in both the House and Senate. Sponsored by Rep. Marc Veasey (D-TX) and Rep. David McKinley (R-WV) in the House and Sen. Bill Cassidy, M.D. (R-LA) and Sen. Chris Coons (D-DE) in the Senate, the bill would make investments in carbon capture and sequestration infrastructure to reduce emissions economy-wide.

Specifically, the SCALE Act would create the CO2 Infrastructure Finance and Innovation Program to provide low-interest loans and grants for carbon transport infrastructure projects. This program would be modeled on the existing Transportation Infrastructure Finance and Innovation Act (TIFIA) and Water Infrastructure Finance and Innovation Act (WIFIA) programs. The bill would also create a grant program for state and local governments to procure carbon utilization projects and create a demand for products made from captured carbon. The Department of Energy’s CarbonSAFE program would be expanded to provide cost sharing for deployment of commercial-scale saline geologic CO2 storage projects. Additionally, the EPA would increase funding for the EPA for permitting Class VI carbon storage wells in saline geologic formations and create a grant program for states to establish their own permitting programs for these wells.

Clean Energy for America Act and Pollution Payments Proposal. Senate Finance Committee Chair Ron Wyden (D-OR) plans to reintroduce the Clean Energy for America Act, which he previously introduced in 2019. In Wyden’s view, the tax code provides too many incentives to fossil fuel companies, so this bill would “take the outdated energy tax code, 44 different tax breaks with too many subsidies for oil and gas, and we basically just throw them in the trash can.”

The bill modifies, extends or terminates several energy-related tax incentives to provide consolidated tax deductions and credits for the production of or investment in clean electricity, the production of clean transportation fuels and energy-efficient homes and commercial buildings.

The new tax incentives are technology-neutral and the amounts of the credits or deductions vary based on the levels of carbon emissions for the incentives for electricity and fuels or energy efficiency in the case of the incentives for energy-efficient homes and commercial buildings.

The bill also establishes tax credits for certain bonds issued by a governmental body, a public power provider, or a cooperative electric company for facilities producing clean electricity or clean transportation fuels.

At an American Council on Renewable Energy forum earlier this year, Wyden admitted it would be difficult to pass clean energy legislation. However, he pointed to the recent grid failure in Texas as a call for Congress to support infrastructure and clean energy legislation. Wyden also said he is developing a proposal to “make polluters pay for the cost of climate change” and send part of that revenue to Americans in annual cash payments.

Tar Sands Tax Loophole Elimination Act. On March 8, Sen. Edward Markey (D-MA) and Rep. Earl Blumenauer (D-OR) reintroduced the Tar Sands Tax Loophole Elimination Act. The bill would reverse a 2011 IRS Technical Advice Memorandum concluding that oil derived from tar sands is not considered crude oil and therefore is not subject to the excise tax that goes into the Oil Spill Liability Trust Fund.

The bill would provide that products derived from tar sands are crude oil for purposes of petroleum excise taxes. In 2017, the Joint Committee on Taxation estimated this bill would generate approximately $665 million in revenue over 10 years.

Markey has stated, “the dirtiest fuels must have the strictest requirements, not the largest regulatory loopholes. We need to close this tax loophole for tar sands and make sure every Big Oil company pays for their clean-up costs.” Markey has proposed this bill on five prior occasions, but in each instance, the proposal was read in the Senate and then referred to the Committee on Finance. Blumenauer has joined Markey with companion legislation on three of those instances, and similarly, the bill was referred to the House Committee on Ways and Means without further action.

Energy Storage Tax Incentive and Deployment Act. On March 9, 2021, Reps. Mike Doyle (D-PA), Vern Buchanan (R-FL) and Earl Blumenauer (D-OR) introduced the Energy Storage Tax Incentive and Deployment Act. Companion legislation was also introduced in the Senate by Sens. Martin Heinrich (D-NM) and Susan Collins (R-ME).

The bipartisan bill allows tax credits for energy and battery storage technologies. The bill expands the IRC section 48 tax credit for investments in energy property to include equipment that (1) receives, stores, and delivers energy using batteries, compressed air, pumped hydropower, hydrogen storage (including electrolysis), thermal energy storage, regenerative fuel cells, flywheels, capacitors, superconducting magnets, or other technologies identified by the Internal Revenue Service; and (2) has a capacity of at least five kilowatt hours.

The bill also expands the IRC section 25D tax credit for residential energy-efficient property to include expenditures for battery storage technology that (1) is installed on or in connection with a dwelling unit located in the United States and used as a residence by the taxpayer, and (2) has a capacity of at least three kilowatt hours.

This bill was previously proposed with bipartisan sponsorship (three times in the Senate and twice in the House from 2016‒2019). Despite this support, the prior proposals were referred to and failed to advance past the Senate Finance Committee and House Committee on Ways and Means. However, with the Biden administration’s desire to prioritize investment in clean energy projects, bipartisan proposals such as the Energy Storage Tax Incentive and Deployment Act are more likely to advance past committee review.

Rural Wind Energy Modernization and Extension Act. On March 8, 2021, Sens. Michael Bennet (D-CO) and Amy Klobuchar (D-MN) introduced the Rural Wind Energy Modernization and Extension Act to expand the IRC section 48 small wind investment tax credit to help offset the upfront costs of developing and owning small wind turbines that generate electricity. Companion legislation was introduced in the House by Earl Blumenauer (D-OR).

The bill would expand the small wind investment tax credit by increasing the nameplate limitation from 100 kilowatts to 10 megawatts, modifying definitions to ensure that innovative small wind models qualify for the credit, and extending the credit to cover 30% of the project’s cost until 2028, before phasing down to a permanent 10%.

Carbon Capture Modernization Act. On March 10, Sens. John Hoeven (R-ND) and Tina Smith (D-MN) and Rep David McKinley (R-WV) reintroduced the Carbon Capture Modernization Act, which was previously proposed in 2019, bipartisan legislation to modernize the section 48A tax credit for coal facilities to better support the use of carbon capture, utilization and storage (CCUS) technology.

Prior legislation from 2005 and 2008 created and expanded the section 48A credit for investment in clean coal facilities and projects. Though not intended, the standards in the legislation make it impossible for taxpayers to make use of the credit for CCUS retrofits.

To incentivize investment in CCUS technology, this bill would relax efficiency requirements to reflect the capabilities of existing technology, so long as projects include carbon capture storage equipment.

Smith provided, “Our legislation helps ensure that carbon dioxide released by fossil fuel power plants is captured and stored before it can be emitted into the atmosphere.” Rep. McKinley added, “Modernizing the 48A credit will make it easier for businesses to retrofit coal facilities around the nation with carbon capture technologies.” Sen. Shelley Capito (R-WV), ranking member of the Senate Environment and Public Works Committee, added that the bill would “allow America to reach its full energy potential, promoting innovative ways to use even old resources like coal.”

Tax and Financing Update

Recognizing the infrastructure package may be unable to receive enough Republican support to progress through the ordinary legislative process, Democrats are preparing a package they will be able to advance through budget reconciliation. This means any long-term spending outside the budget window, which is typically 10 years, must be offset through spending reductions or revenue raisers. Some items currently under consideration are explored below.

Revenue Raisers

What to Watch

Corporate Income. Democrats are preparing to increase the corporate tax rate to 28%. It was reduced from 35% to 21% under the Tax Cuts and Jobs Act.

As discussions progress with moderate members, the ultimate rate sought by Democrats could be reduced to 25% or 26%.

The Senate Finance Committee is holding a hearing Thursday on the effects of international tax policy on American workers, jobs and investment. Lawmakers could discuss the effects of raising the corporate tax rate in the context of U.S. global competitiveness. They are also expected to discuss various proposals to change the current international tax system.

Capital Income and Asset Accumulation. Democrats have recently proposed a financial transactions tax, a wealth tax, a mark-to-market regime and increasing taxes on companies with excessive executive pay.

The Senate Budget Committee will hold a hearing Thursday on increasing tax rates for wealthy individuals and corporations. Testifying before the committee will be Gabriel Zucman, who has coordinated with Sen. Elizabeth Warren (D-MA) on developing her wealth tax proposal, the Ultra-Millionaire Tax Act.

Sen. Bernie Sanders (I-VT), who chairs the committee, held a similar hearing last week, during which he announced the introduction of his Tax Excessive CEO Pay Act. As Democrats seek revenue raisers, it will be important to watch the development of proposals like those from Sanders and Warren.

Infrastructure-specific. Lawmakers have targeted the federal gas tax, a vehicle miles traveled (VMT) tax and other infrastructure-focused revenue measures to pay for infrastructure projects.

The House Ways and Means Committee held a Members’ Day hearing today, during which lawmakers presented their legislative proposals to the committee responsible for financing the infrastructure package. To receive a summary, contact a member of the Brownstein Tax Policy Team.

The Senate Finance Committee is currently debating behind the scenes the merits of a VMT. While he declined to provide any specifics on the discussions, Chair Ron Wyden (D-OR) said last week, “the debate is underway.” At the same time, his Republican counterpart, Ranking Member Mike Crapo (R-ID), said that while he is “evaluating everything,” the VMT is “not one of [his] preferred options.”


BUILD BACK BETTER PROPOSALS AT A GLANCE

Over the course of the next few months, members will introduce several pieces of legislation with the hopes that their proposals will be considered for inclusion in the next package. While significant developments are discussed in the legislative updates section, click here for a running list of other relevant legislation introduced this week.


ACTIVITY THIS WEEK

Click here to view congressional activity for the week (link to WIA):

Congress

Monday, March 22

House Energy and Commerce Committee
LIFT America: Revitalizing Our Nation’s Infrastructure and Economy

Tuesday, March 23

House Natural Resources Committee
Building Back Better: Examining the Future of America’s Public Lands

House Transportation and Infrastructure Committee
The Water Resources Development Act: Status of Essential Provisions

House Financial Services Committee
Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response

Wednesday, March 24

House Energy and Commerce Committee
The CLEAN Future Act: Powering a Resilient and Prosperous America

Senate Banking Committee
The Quarterly CARES Act Report to Congress 

Senate Indian Affairs Committee
Build Back Better: Water Infrastructure Needs for Native Communities

House Natural Resources Committee
How the Biden Administration’s Build Back Better Plan Can Benefit the U.S. Territories

Thursday, March 25

House Transportation and Infrastructure Committee
The Administration’s Priorities for Transportation Infrastructure

House Appropriations Committee
Creating Equitable Communities through Transportation and Housing

Administration 

Monday, March 22

Federal Energy Regulatory Commission
OPP Listening Sessions: Environmental Justice Communities and Tribal Interests

Federal Emergency Management Agency
Meeting of the Cost of Assistance Estimates in the Disaster Declaration Process for the Public Assistance Program 

Private Sector

Monday, March 22

Brookings Institution
How Congress Can Support Middle-Class Americans: A Conversation with Senator Mark Warner

Century Foundation
Building Race-Explicit Advanced Manufacturing Training Programs 

Tuesday, March 23

World Resources Institute
Using Political Economy to Address Climate Change Policy Challenges

Peterson Institute
Economic Impact of Climate Change 

Wednesday, March 24

Information Technology and Innovation Foundation
Addressing the Social Costs of Driving Through a Vehicle Miles Traveled Fee

Bloomberg Government
Priorities for Congress Post-COVID-19 Relief

American Enterprise Institute
The Biden Stimulus, the Federal Reserve and the Everything Bubble

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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