This week, the Senate may vote on whether to proceed with debate on S. 3217, the Restoring American Financial Stability Act of 2010.
This bill would establish an “Orderly Liquidation Fund” to manage the failure of financial institutions. It would expand the authority of the Federal Deposit Insurance Corporation. And it would create a new Bureau of Consumer Financial Protection, among other changes to financial services regulation.
The vote to proceed with debate, known as “cloture,” requires a 60-vote majority, which allows Republicans to block the bill if they choose.
Passage of S. 3217 would cost the average U.S. family about $1,000.
The House will debate H.R. 2499, the Puerto Rico Democracy Act of 2009. The bill would allow Puerto Rico to conduct a vote on whether the island should retain its current relationship (a commonwealth) with the United States or pursue a different political status.
Passage of H.R. 2499 would have minimal cost per U.S. family.
The House will also debate H.R. 5013, the Implementing Management for Performance and Related Reforms to Obtain Value in Every Acquisition Act of 2010, known as the “IMPROVE Acquisition Act.”
The bill is intended to improve the defense acquisition system, the management process that guides all Department of Defense purchasing programs.
No cost estimate for H.R. 5013 is available yet.
The Restoring American Financial Stability Act of 2010
Costs $1,077.03 per family
The Puerto Rico Democracy Act of 2009
Costs $0.00 per family
The Implementing Management for Performance and Related Reforms to Obtain Value in Every Acquisition Act of 2010