Legislative happenings of prime importance to the PHCP-PVF supply chain.
The House and Senate are in recess this week.
The return: After Congress returns from its July 4th recess next week, legislation will start to move on several fronts. First, committees will be drafting bills pertaining to the bipartisan infrastructure package, that the White House signaled its support for last week. The Problem Solvers Caucus, a bipartisan House coalition consisting of 29 Democrats and 29 Republicans, also endorsed the plan. The Senate is planning to have a vote on the infrastructure package sometime in July. Second, legislation containing several Democratic priorities (think President Biden’s ‘Social Infrastructure’ plan) will begin to make its way forward. At the same time, the budget reconciliation process will also proceed, with the final number on a reconciliation package remaining to be determined. It could be as low as $2 trillion, with Senate Budget Chairman Bernie Sanders (I-VT) advocating something as high as $6 trillion. Chairman Sanders released an overview two weeks ago that included $1.6 trillion in spending over the President’s request.