Legislative Update - Week of October 5

·       This week, the U.S. House and Senate are in session for legislative business. However, neither chamber is expected to consider legislation related to student aid policy.

·       Today beginning at 8:30 a.m., the Lumina Foundation holds an opening session of its National Credentialing Summit titled, “Setting the Stage: Transforming Our Fragmented Credentialing System Into One That Works Better for Students, Employers and the Nation.” The session will examine dilemmas posed by our nation’s lack of a transparent, connected credentialing system by clarifying issues, focusing on key questions, and encouraging constructive dialogue on problems that have an important place on the public agenda. Panelists include: Byron Auguste, Managing Director of Opportunity@Work, New America; Molly Corbett Broad, President, American Council on Education; Chris Bustamante, President, Rio Salado College; Anthony Carnevale, Director and Research Professor, Georgetown University Center on Education and the Workforce; Governor John Engler, President, Business Roundtable; Jamie Merisotis, President and Chief Executive Officer, Lumina Foundation; and Eric Seleznow, Deputy Assistant Secretary of Employment and Training Administration, U.S. Department of Labor; and Elizabeth Shuler, Secretary-Treasurer, AFL-CIO. 

·       On Tuesday at 9:20 a.m., Education Secretary Arne Duncan participates in a panel discussion with students, teachers, and administrators at the University of Texas-Rio Grande Valley, to stress the importance of educating all young people, including Hispanics. The Secretary will highlight the need to fill urgent gaps in the fields of science, technology, engineering, and mathematics. 

·       On Tuesday and Wednesday, all-day, the Congressional Hispanic Caucus holds its annual Public Policy Conference that brings Latino leaders, federal, state, and local officials, and corporate and nonprofit leaders to participate in major policy issues affecting the Latino community. Key session topics include: “Education: Access to Opportunity,” with Deputy Secretary of Education John King, who has been nominated to replace Education Secretary Arne Duncan; “Financial Aid for Postsecondary Education Latino Students”; “Dreamers: What the Future Holds”; and an Education Luncheon with Education Secretary Arne Duncan.  

·       On Wednesday at 10:00 a.m., the House Ways and Means Subcommittee on Oversight holds a hearing titled, “The Rising Costs of Higher Education and Tax Policy,” which will examine universities’ and colleges’ tax-exempt status, endowment practices, and executive compensation, and whether they have any connection to soaring tuition costs. Witnesses will be announced at a later date.  

·       On Wednesday at 10:00 a.m., the Senate Homeland Security and Governmental Affairs Committee considers S. 1607, the Independent Agency Regulatory Analysis Act, which requires independent regulatory agencies such as the Federal Communications Commission and the Securities and Exchange Commission to: 1) comply with regulatory analysis requirements applicable to other federal agencies; 2) publish and provide the Office of Information and Regulatory Affairs with an assessment of the costs and benefits of a proposed or final economically significant rule (i.e., a rule that is likely to have an annual effect on the economy of $100 million or more and is likely to adversely affect sectors of the economy in a material way) and an assessment of costs and benefits of alternatives to the rule; and 3) submit to the Office for review any proposed or final economically significant rule. The Committee will also consider S. 1817, the Smarter Regulations Through Advance Planning and Review Act, to improve the effectiveness of major rules in accomplishing their regulatory objectives by promoting retrospective review and S. 1820, the Early Participation in Regulations Act, to require federal agencies to publish an advance notice of proposed rulemaking for major rules. 

·       On Wednesday at 1:00 p.m., Consumer Financial Protection Bureau (CFPB) holds a field hearing on arbitration in Denver, CO. Many observers expect the CFPB, in conjunction with the field hearing, to take the next steps towards issuing a proposed arbitration rule, including announcing the convening of a Small Business Review Panel required by the Small Business Regulatory Enforcement Fairness Act and the Dodd-Frank Act to provide input on the proposal. The hearing will include comments from CFPB Director Richard Cordray as well as from consumer groups, industry representatives, and the public. To attend this open event, send an email with your name and organization affiliation to cfpb.events@cfpb.gov.  

·       On Wednesday at 3:00 p.m., the Federal Reserve releases its “Consumer Credit – G.19” report, which includes the amount of outstanding federal and private student loans. 

·       On Thursday, House Republicans hold a secret-ballot election to select a new Speaker of the U.S. House of Representatives to replace Rep. John Boehner (R-OH). Rep. Kevin McCarthy (R-CA), who is the frontrunner, Rep. Jason Chaffetz (R-UT), and Rep. Daniel Webster (R-FL) are vying for the post that will be officially filled on November 2, 2015. 

·       On Thursday at 2:00 p.m., the Federal Reserve’s Federal Open Markets Committee (FOMC) releases the minutes of its two-day meeting held on September 16-17, 2015. 

·       Saturday through Monday, all-day, the Hispanic Association of Colleges and Universities (HACU) holds its 29^th Annual Conference titled, “Championing Hispanic Higher Education Success: Empowering Students, Enhancing Collaboration,” in Miami Beach, Florida. This is HACU’s premier conference on Hispanic higher education that showcases exemplary programs and initiatives of the best and most promising practices in the education of Hispanics at Hispanic-Serving Institutions.