CQ TODAY MIDDAY UPDATE
July 6, 2007 – 1:50 p.m.
House Tackles Drug Safety, Student Loans and Other Domestic Issues
While the Senate debates defense policy and the war in Iraq, the House next week will focus on domestic issues.
The first major bill on its agenda is a measure (HR 556) to overhaul the way the federal government assesses national security threats posed by foreign investments.
The Senate passed an amended version of the bill on June 29, and the House is expected to send the measure to the president on Tuesday, July 10.
Later in the week, the House will tackle legislation tightening court security (HR 660) before turning to bills on prescription drug safety, student loan subsidies and housing rent vouchers.
The most sweeping agenda item is an overhaul of Food and Drug Administration regulatory authority (HR 2900) that would add new post-marketing surveillance and safety regulations for drugs after they win initial FDA approval.
Also slated for House action next week is an education bill (HR 2669) that would cut roughly $19 billion from lender subsidies over five years and direct the money to student and institutional aid. The bill would increase the maximum Pell grant by $500, to $5,200; halve interest rates on subsidized student loans, to 3.4 percent; and boost the federally backed loan limit by $7,500, to $30,500 over the course of an undergraduate’s career.
A measure (HR 1851) designed to stabilize and expand Section 8 rent vouchers, the primary federal housing program for low-income Americans, is also set for a vote in the House next week.