A separate rule on amendments to the NDAA will be approved in the House Rules Committee on Wednesday, and will lead to an all-day amendment marathon on Thursday.
The debate rule for the NDAA also allows for full consideration of H.R. 1256, the Swap Jurisdiction Certainty Act. This bill would direct financial regulators to adopt a formal rule on cross-border swaps transactions, and it is expected to be passed today.
The House will also consider four suspension bills:
— H.R. 634, the Business Risk Mitigation and Price Stabilization Act, exempting entities that use financial derivatives products to hedge risk — as opposed to speculators — from margin requirements under the Dodd-Frank financial reform law.
— H.R. 2167, the Reverse Mortgage Stabilization Act, authorizing the Secretary of Housing and Urban Development to set up requirements to boost the safety and soundness of reverse mortgages.
— H.R. 742, the Swap Data Repository and Clearing house Indemnification Correction Act, a bill aimed at ensuring international "swap data" sharing.
— H.R. 1038, the Public Power Risk Management Act, giving utilities the ability to buy energy from other producers, to help keep electricity rates down.
The Senate starts at 9:30 a.m., and will continue consideration of the bipartisan immigration bill, S. 744.
As of late Tuesday, no agreement had been reached on an initial set of amendments that will get a vote, and no votes were scheduled for Wednesday. But Senate leaders are expected to continue discussions about amendments and schedule them as agreements are reached.