Week ahead: Senate banking panel poised to move on nominees

The Senate faces a busy week as it looks to wrap up work on measures to fight drug abuse, revamp domestic energy policy and offer help for Flint, Mich.’s water crisis.

Senate Appropriations subcommittees will press ahead with budget hearings for federal departments. Some high profile cabinet officials are heading to Capitol Hill this week, including Treasury Secretary Jack Lew, Internal Revenue Service Commissioner John Koskinen, Agriculture Secretary Tom Vilsack, Energy Secretary Ernest Moniz, Housing and Urban Development Secretary Julian Castro and Veterans Affairs Secretary Robert McDonald.

Senate Banking Committee Chairman Richard Shelby (R-Ala.) is also expected to announce action on two nominees to the Securities and Exchange Commission. For months, Democrats have railed against Shelby for refusing to move on 16 nominees before the committee until he won his March 1 primary.

Congress will also soon have to tackle two major fiscal issues with impending deadlines: writing a budget and finding a fix for cash-strapped Puerto Rico, which House Speaker Paul Ryan (R-Wis.) asked for by the end of March.

House Republicans have been deadlocked on how to move forward on a budget. Even with the House out in the coming week, expect talks to continue behind the scenes to end the budget impasse.

Here’s what’s on tap:

Monday

• Federal Reserve Vice Chairman Stanley Fischer gives a speech titled “Reflections on Macroeconomics Then and Now” at the National Association for Business Economics Economic Policy Conference, 1 p.m.
• Fed Governor Lael Brainard gives a speech titled “Economic Outlook, Liquidity and Resilience” at the Institute of International Bankers Annual Washington Conference, 1 p.m.

Tuesday

• Senate Appropriations Subcommittee on Financial Services and General Government:
  Hearings to examine proposed budget estimates and justification for fiscal 2017 for the Department of the Treasury, 10 a.m.
• Senate Foreign Relations Committee: Hearings to examine State Department reauthorization, focusing on an opportunity to strengthen and streamline United States diplomacy, 10 a.m.
• Senate Homeland Security and Governmental Affairs Committee: Hearings to examine the President’s proposed budget request for fiscal year 2017 for the Department of Homeland Security, 10 a.m.
• Senate Commerce, Science, and Transportation Subcommittee on Surface Transportation and Merchant Marine Infrastructure, Safety and Security: Hearings to examine the state of the United States maritime industry, focusing on the federal role, 2:30 p.m.

Wednesday

• Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights: An oversight hearing to examine the enforcement of antitrust laws, 2 p.m.

Recap the week with Overnight Finance:

• Monday: GOP budget fight; Puerto Rico’s impact on 2016
• Tuesday: McConnell pitches budget unity to House GOP
• Wednesday: Dems slam Ryan’s anti-poverty effort
• Thursday: GOP struggles to find budget answers

Today’s stories:

• Clinton to call for ‘clawback’ of tax benefits for outsourcing companies, by Naomi Jagoda
• Study: Sanders’ tax plan would raise $15.3 trillion, by Naomi Jagoda
• Dems urge Senate to back Obama Zika request, by Jordain Carney
• U.S. economy adds impressive 242K jobs in February, by Vicki Needham
• Trump vows to ‘rip up’ all trade agreements, by Vicki Needham

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