Today is a very busy day at the House of Representatives. The Financial Services Committee is holding a hearing about digital payments. (More on this later.) Meanwhile, the House of Representatives prepares to vote on two important bills.
The first is the stopgap spending bill. And the second deals with the Congressional Review Act to reverse the IRS crypto exchange rule.
The House Republicans revealed their spending plan at the end of last week. This plan includes a 6 billion dollar increase in the defense budget and $13 billion of cuts to non-defense expenditures. This Friday is the deadline to pass a budget bill.
But not all Republicans agree. Rep. Thomas Massie says he’ll vote no. Reps. Cory Mills, Tim Burchett and Tim Burchett are undecided.
To pass the bill, Speaker Mike Johnson will need the support of his whole party, both in the House and Senate, as well as a few Democrats.
It is also expected that the CRA will be put to a vote on the floor this afternoon. The CRA was first introduced in January, with strong bipartisan support. As of today’s 2pm ET, the House had still not voted.
The extent to which the partisanship of the bill could affect other legislation is yet unknown. Watch your email tomorrow for any updates.
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