This week, the House plans to consider five pieces of legislation: the Energy and Water Appropriations Act, Flood Insurance Reform Act, the Clean Water Cooperative Federalism Act, a resolution proposing a balanced budget amendment, a bill to eliminate the energy efficiencies requirements in light bulbs, and the Financial Services and General Government Appropriations Act.
The FY2012 Energy and Water Development Appropriations Act (H.R. 2354) appropriates funding for energy and water development programs, including the Army Corps of Engineers, the Department of the Interior Bureau of Reclamation, the Department of Energy’s renewable energy initiatives, and many other programs.
The House will also consider the Flood Insurance Reform Act of 2011 (H.R. 1309). This bill would amend the National Flood Insurance Act of 1968 (NFIA) to finance the National Flood Insurance Program through FY2016. The bill also amends the Flood Disaster Protection Act of 1973 (FDPA) to authorize the Federal Emergency Management Agency (FEMA) to temporarily suspend the mandatory flood insurance purchase requirement for areas designated as having special flood hazards, as long as they meet certain eligibility requirements.
The Clean Water Cooperative Federalism Act of 2011 (H.R. 2018) amends the Clean Water Act to prohibit the Environmental Protection Agency (EPA) from creating new water quality standards for pollutants the EPA has already approved, unless the state agrees that the new quality standards are necessary. It also prohibits the EPA from overriding a state’s decision that a discharge complies with the current water quality standards, and also prohibits the EPA from withdrawing approval of a state program under the National Pollution Discharge Elimination System (NPDES) even if the EPA disagrees with the state regarding the implementation of the water quality standards.
The House is also expected to consider the so-called Better Use of Light Bulbs (BULB) Act of 2011 (H.R. 2417). This bill would repeal energy efficiency standards for light bulbs enacted by the Energy Independence and Security Act (EISA) of 2007. When the bill was initially passed, it enjoyed strong bi-partisan support.
Lastly, the House will begin consideration of the Financial Services and General Government Appropriations Act (H.R. 2434). This bill appropriates funding for financial services and general government programs, such as the Securities and Exchange Commission (SEC), for FY2012.
Additionally, the House Committee on Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, which I serve on, will begin marking up legislation to reform the operation and oversight of Fannie Mae and Freddie Mac.