Companion Cybersecurity Disclosure Bills Introduced in U.S. Congress

Both the House and Senate are in session. The Senate will work on a national security package containing enhanced border security policies and additional aid to Ukraine, Israel, and Taiwan. House Republicans have opposed any deal that does not meet all their demands. President Biden has signaled he is willing to take substantial steps to shut down the border in exchange for the bill’s enactment. Additionally, congressional appropriators agreed over the weekend on top-line spending allocations for the 12 fiscal year funding bills. The House has indicated it may consider a bipartisan agreement on a nearly $80 billion tax policy proposal that focuses on business deductions and the child tax credit.

Learn more about federal priorities—from ESG and other disclosures to regulating crypto assets to proxy voting—that will affect the investment industry in the latest issue of Investment Management, Trading & Markets Updates.

The Senate and House are in session this week and will work to pass six of the 12 federal spending bills before a partial government shutdown on Friday. Once enacted, lawmakers must then turn to the remaining six bills, which have proven more contentious and difficult to resolve. Those funding bills are set to expire on March 22. On Thursday, President Biden will deliver his State of the Union address to Congress.

Over the weekend, President Joe Biden signed into law the agreement that was reached to raise the debt limit. The deal suspends the debt ceiling through January 1, 2025 and imposes discretionary spending caps for the next two fiscal years. Moving beyond the debt limit, the House will turn to legislation that would cut back Executive Branch authority and address the availability of gas stoves. The Senate will consider long-stalled Biden nominees.

Over the weekend, President Joe Biden and House Speaker Kevin McCarthy (R-CA) were able to reach an agreement on a deal to raise the debt limit ahead of the June 5 deadline. Now, they must convince their parties in Congress to pass the package. Although there is already opposition from both the right and left flanks, there is guarded optimism that the negotiators can garner enough support to pass the legislation in time.