Time Ticking on Continuing Resolution; Priority Votes Delayed Post-Midterms

September 19, 2022

Congress made no progress last week to pass a Continuing Resolution (CR) to keep the government running beyond September 30, and House Majority Leader Steny Hoyer told Democrats to prepare to be in session October 1.

Why it matters: Congress won’t be in session on Sept. 26-27 due to the Rosh Hashanah holiday, leaving fewer days to negotiate must-pass legislation; it is also now doubtful that permitting reform will be included in the CR. Permitting is the process for gaining federal approval for energy projects, including oil and gas pipelines, which often undergo extensive review for their environmental impact.

The big picture: Senators are crying foul as they’re being asked to vote for permitting reform, but Joe Manchin (D-WV) has refused to share text of his legislation until the CR is released later this week. Manchin needs 20 Senate Republicans to vote for his legislation.

Instead Senate Republicans are supporting an alternative proposal by Sen. Shelley Moore Capito (R-WV), who told Punchbowl News:

“Now the onus is on me to provide support for something I had no hand in and still don’t know what it is? And so how can I help that effort?… I mean, you just can’t operate like that.”

What's next: Senate Majority Leader Chuck Schumer (D-NY) is moving ahead as if permitting reform will be included in the CR, but this is likely to change. Meanwhile:

  • Marriage equality: A separate, highly anticipated vote to protect same-sex marriage has been postponed until after midterms as bipartisan negotiators faced trouble lining up enough Republican support to break a filibuster. Politico has more.
  • The Child Tax Credit (CTC) is also likely to be revived after the midterms. Census data last week showed child poverty fell by 46 percent in 2021, thanks largely to the expanded CTC. In 2021, 5.2 percent of children were in poverty, down from 9.2 percent in 2020. The CTC expired in December 2021 after the American Rescue Plan increased it from $2,000 to as much as $3,600 per child. The expansion provided monthly checks for families making up to $150,000 or single parents making up to $112,500.
The bottom line: CR will pass but process will feel bumpy. If Republicans perform well in the midterms, votes for marriage equality and restoring the expanded Child Tax Credit face an uncertain outcome. 

Contact 

Justin Ailes
Managing Director, Government Relations
202.448.0853
jailes@crefc.org
An agreement to reform the federal permitting process is doubtful, as a marriage equality vote has been postponed until after the midterm election.
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2022 CRE Finance Council. All rights reserved.

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