Week ahead: Obama’s trade agenda to face crucial test

House and Senate committees are expected to take up legislation this week that would give President Obama more power in negotiating trade deals.

Trade promotion, or “fast-track” authority, which would prevent Congress from amending major agreements, would pave the way for passage of the sweeping 12-nation Trans Pacific Partnership — a top item on Obama’s second-term agenda.

{mosads}The fast-track legislation bill, itself the subject of intense negotiations, is expected to clear the upper chamber. But it’s unclear if Obama has the votes in the House, where many Democrats are opposed to the measure.

On Wednesday, a new task force made up of members of the House Financial Services Committee will convene a hearing on global terrorism and financing. It’s one of the first hearings Rep. Jeb Hensarling (R-Texas) has had on the issue, which is gaining interest in Washington.

Hensarling was instrumental in forming the new task force, chaired by Rep. Mike Fitzpatrick (R-Pa.).

On Thursday, the Financial Institutions and Consumer Credit subcommittee will hold a hearing dubbed Examining Regulatory Burdens. As of press time, witnesses had not been named.

The Senate Banking Committee will hold hearings on Tuesday and Thursday about public transportation. Chairman Richard Shelby (R-Ala.) will hear testimony from various business entities in the transportation industry, as well as Therese W. McMillan, the acting administrator of the Federal Transit Administration.

Export-Import Bank President Fred Hochberg will continue to fight for the bank’s survival this week. The bank is scheduled to hold its annual conference on Thursday and Friday in Washington.

Prominent speakers include NBC News’s Andrea Mitchell, national security adviser Susan Rice, International Monetary Fund managing director Christine Lagarde and Commerce Secretary Penny Pritzker, among others. Tea Party groups say that the bank’s charter should shut down after it expires June 30 because it’s a form of cronyism. Democrats and other Republicans say that it helps sustain U.S. jobs.

Lawmakers will also continue their political wrangling over the nomination of Loretta Lynch, whom Obama nominated for attorney general. While she has the votes in the Senate, Republicans and Democrats are fighting over unrelated provisions in separate bills.

This story was updated at 11:18 a.m.

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