Witnesses Urge Congress to Streamline, Simplify Federal Student Aid System

 

 

FOR IMMEDIATE RELEASE  CONTACT: Press Office March 21, 2017 (202) 226-9440   Witnesses Urge Congress to Streamline, Simplify Federal Student Aid System     WASHINGTON, D.C. – The Subcommittee on Higher Education and Workforce Development, chaired by Rep. Brett Guthrie (R-KY), held a hearing today to discuss reauthorization of the Higher Education Act (HEA), focusing on ways to streamline and simplify federal student aid. “Over the years, the federal student aid system has become too complex,” Chairman Guthrie said. “Students and their families are forced to navigate six different types of federal student loans, nine different repayment plans, eight different forgiveness programs, and 32 deferment and forbearance options — each with its own rules and requirements … We need to get rid of the complexity. We need to eliminate the confusion students face.” Witnesses agreed — highlighting the importance of simplifying, updating, and improving federal student aid so students have access to an affordable postsecondary education. JoEllen Soucier has worked as a financial aid administrator and currently serves as the executive director of financial aid for the Houston Community College System. Through the years, she said, she watched as the student aid process grew more complex. “I have seen the complexity of the student application process and the administration of federal financial aid programs increase greatly over the past 25 years,” she said. “The entire process from application to repayment has become an intricate puzzle that only a seasoned professional, like myself, can navigate and understand.” Soucier said reauthorizing HEA provides an opportunity to make positive improvements that will help students and their families navigate the student aid process. “Done in a deliberate, careful way, moving toward simplification and streamlining of the entire system will have a positive impact on students, families, financial aid administrators, educators, and the community,” she said. Education policy expert Kristin D. Conklin explained how the student aid system is outdated and must be reformed to better accommodate the unique needs of contemporary students. “Today’s students are older, they juggle work and family while attending school part time, and 47 percent support themselves financially, with 42 percent living in poverty,” Conklin said. “A simplified federal financial aid system needs to be seen as part of the solution for a nation that needs many more skilled graduates, a stronger middle class and more opportunity.” Matthew M. Chingos, senior fellow at the Urban Institute, explained how many previous student aid reforms have not been entirely effective because they do not target the students who need help the most. “The prevailing media narrative of a broad-based student loan crisis is problematic because it leads to the wrong policy solutions by focusing on all borrowers — and especially borrowers with the most debt — rather than on those who most need the help,” he said. “The current programs, which resulted from well-intentioned policy changes over many years, need to be streamlined and returned to their core missions: grants to needy students and loans that enable students to invest in their future success.” Higher education provides many Americans with an important pathway to fulfilling careers and a lifetime of success. Streamlining, updating, and improving the federal student aid system will play an important role in ensuring higher education is more accessible and affordable. “Simplifying federal student aid is just one principle in the comprehensive framework that will guide our work to strengthen higher education, but it’s a critical one,” Chairman Guthrie said. “Doing so will provide students and their families a more timely, clearer picture of the financial assistance they are eligible to receive. It will ensure taxpayer dollars are supporting those students who need help the most. And, perhaps most importantly, it will help more Americas realize that the dream of a higher education is within reach.” # # #

This Week in Legislation - Week of March 20, 2017

Week of March 20, 2017

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

 

·       On Tuesday at 10:00 a.m., the House Education and the Workforce Subcommittee on Higher Education and Workforce Development holds a hearing entitled, “Improving Federal Student Aid to Better Meet the Needs of Students.” Witnesses will be announced at a later date.

·       On Tuesday at 10:00 a.m., the House Financial Services Subcommittee on Oversight and Investigations holds a hearing titled, “The Bureau of Consumer Financial Protection’s Unconstitutional Design.” The hearing will examine whether the structure of the Bureau violates the Constitution, as well as structural changes to the Bureau to resolve any constitutional infirmities. Witnesses include: The Honorable Theodore Olson, Partner, Gibson, Dunn & Crutcher LLP; Saikrishna Prakash, James Monroe Distinguished Professor, University of Virginia School of Law; Adam White, Research Fellow, Hoover Institution; and Brianne Gorod, Chief Counsel, Constitutional Accountability Center.

 

·       On Tuesday at 12:00 p.m., the Urban Institute holds a webinar titled, “Realizing Community Colleges’ Potential and Ensuring a Path to the Middle Class.” As technology advances, employers demand different skills, and the cost of a four-year degree rises, community colleges are a crucial gateway to postsecondary credentials. But can they meet demand? In this webinar, Cheryl Hyman, Chancellor of City Colleges of Chicago, discusses how community colleges can ensure more students find success, using lessons from City Colleges’ Reinvention initiative.

·       On Wednesday at 8:30 a.m., The Atlantic convenes key policymakers, state leaders, administrators, stakeholders, and experts for a robust discussion about the future of postsecondary education policy titled, “Higher Education at a Crossroads.” Participants include: Sheila Bair, President, Washington College; Ben Cannon, Executive Director, Oregon Higher Education Coordinating Commission; Peter McPherson, President, Association of Public and Land Grant Universities; Eloy Oakley, Chancellor, California Community Colleges; Margaret Spellings, President, University of North Carolina System; and Ron Brownstein, Senior Editor, The Atlantic.

·       On Thursday at 8:45 a.m., Federal Reserve Chair Janet Yellen delivers opening remarks at the 2017 Federal Reserve System Community Development Research Conference, which convenes researchers, policymakers, and practioners across sectors to consider important issues that low- and moderate-income people and communities face.

·       On Thursday at 9:30 a.m., the Senate Banking, Housing and Urban Affairs Committee holds a confirmation hearing on the nomination of Jay Clayton of New York to serve as the chair and member of the Securities and Exchange Commission.

 

·       On Thursday at 10:30 a.m., the FCC holds an open meeting to consider a notice of proposed rulemaking and notice of inquiry that would enable voice service providers to better protect subscribers from illegal and fraudulent robocalls. The proposed rule allows providers to block spoofed robocalls when the subscriber to a particular telephone number requests that calls originating from that number may be blocked, a proposal that came out of the industry’s Robocall Strike Force. It also allows providers to block spoofed calls when the spoofed caller ID cannot possibly be valid, including numbers that have no been assigned to anyone yet, and seeks special comment on how to address spoofing from internationally-originated numbers.

This information is shared by SASFAA's Legislative Affairs' Committee and NCHER.

Alexander, Murray, Foxx, Scott Request Briefing from Department of Education on FAFSA Data Retrieval Tool Outage

Below is an update from Christen Neher, Legislative Relations Chair.

 

FOR IMMEDIATE RELEASE  CONTACT: Press Office March 16, 2017 (202) 226-9440   Alexander, Murray, Foxx, Scott Request Briefing from Department of Education on FAFSA Data Retrieval Tool Outage In letter, chairs and ranking members of Senate and House education committees request information regarding weeks-long outage of IRS’ Data Retrieval Tool that makes it easier for students to apply for financial aid   WASHINGTON, D.C. – Sens. Lamar Alexander (R-TN) and Patty Murray (D-WA), the chair and ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, respectively, and Reps. Virginia Foxx (R-NC) and Bobby Scott (D-VA), chair and ranking member of the House Committee on Education and the Workforce, respectively,sent a letter to Secretary of Education Betsy DeVos today asking for more information about the cause and scope of the outage of the Internal Revenue Services’ Data Retrieval Tool (DRT). “We appreciate the initial actions taken by the U.S. Department of Education (Department) and the Internal Revenue Service (IRS) to address this issue, and we are writing to obtain further information about the cause and scope of the outage and the steps the Department and the IRS will take to assist students and families that are impacted,” said the members of Congress in the letter. “The availability of the [Data Retrieval Tool] saves families and individuals time, streamlines the application process, and improves accuracy of applications. Unfortunately, the DRT appears to have been unavailable since the end of the first week in March, and the joint statement indicates that it will be “several weeks” until the DRT will be back online. The loss of the DRT could discourage many eligible low-income students from applying for aid or IDR plans altogether.” The IRS’ DRT tool allows students to access their tax information from the IRS and directly input it into their Free Application for Federal Student Aid (FAFSA). Sens. Alexander and Murray and Reps. Foxx and Scott are requesting a briefing from the Department of Education on the steps the department is taking to remedy the situation for students, borrowers, and parents, and what the department is doing to protect students’ data privacy and security. The full letter is available here. # # #                   Manage Subscription

This Week in Legislation - Week of March 13, 2017

 

Week of March 13, 2017

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

·         On Tuesday and Wednesday, all day, the Federal Reserve holds a two-day meeting of its Federal Open Market Committee. The minutes for each regularly scheduled meeting of the committee, which include a description of economic and financial conditions, are made available three weeks after its policy decisions are posted in the Federal Reserve Board’s Annual Report.

·         On Tuesday at 12:00 p.m., the Aspen Institute College Excellence Program awards the 2017 Aspen Prize for Community College Excellence, the nation's preeminent recognition of high achievement and improvement in America's community colleges.

·         On Wednesday at 10:00 a.m., the House Education and the Workforce Subcommittee on Higher Education and Workforce Development holds a hearing entitled, “Improving Federal Student Aid to Better Meet the Needs of Students.” Witnesses will be announced at a later date.

·         On Wednesday at 10:30 a.m., the Senate Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies holds a hearing entitled, “STEM Education: Preparing Students for the Careers of Today and the Future.” Witnesses include: Sarah Tucker, Ph.D., Chancellor, West Virginia Council for Community and Technical College Education; Larry Plank, Ed.S., Director of K-12 Science, Technology, Engineering, and Mathematics Education, Hillsborough County Public Schools; Neil Lamb, Ph.D., Vice President for Educational Outreach, HudsonAlpha Institute for Biotechnology; and Caroline King, Chief Policy and Strategy Officer, Washington STEM.

·         On Thursday at 10:00 a.m., the House Financial Services Subcommittee on Monetary Policy and Trade holds a hearing entitled, “Sound Monetary Policy.” Witnesses will be announced at a later date.

·         On Thursday at 2:00 p.m., insideARM hosts a webinar titled, “An Insider’s Guide to the Consumer Financial Protection Bureau’s (CFPB) New Complaint Portal.” Former CFPB Senior Advisor Jim McCarthy will: (1) highlight key risk areas for compliance professionals to track and address; (2) suggest risk mitigation strategies for companies affected by the CFPB’s complaint portal; and (3) expose any added risk the new portal presents to companies in the credit and collection industry.

·         On Friday at 9:00 a.m., the American Enterprise Institute (AEI) hosts a panel discussion titled, “Improving Economic Opportunity in America: A Discussion with Raj Chetty.” Dr. Chetty, the recipient of a MacArthur “genius” award and the John Bates Clark Medal, will talk about his Equality of Opportunity Project that has focused on detailing the state of the American dream and learning from cities, neighborhoods, and schools that have managed to foster upward mobility to inform public policy. After the discussion, AEI will host a panel discussion with: Dr. Raj Chetty, Professor of Economics, Stanford University; Robert Doar, Morgridge Fellow in Poverty Studies, AEI; Jason Furman, Senior Fellow, Peterson Institute for International Economics, and Melissa Kearney, Professor of Economics,University of Maryland.

This information is shared by SASFAA's Legislative Affairs' Committee and NCHER.

This Week in Legislation - Week of March 6, 2017

Week of March 6, 2017

 

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

·         On Tuesday 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 Wednesday at 8:30 a.m., the National Institute for Lobbying and Ethics hosts House Budget Committee Ranking Member John Yarmuth (D-KY) who will brief attendees on budget issues facing this session of Congress.

·         On Wednesday at 10:00 a.m., the House Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies holds a hearing to receive testimony from members of the public on their priorities for the fiscal year 2018 appropriations bill. Witnesses will be announced at a later date.

·         On Wednesday at 10:00 a.m., the Senate Commerce, Science, and Transportation Committee holds a hearing entitled, “Oversight of the Federal Communications Commission (FCC).” As part of the committee’s oversight responsibilities, the hearing will have a broad scope covering every aspect of the agency and major policy issues before the commission. Witnesses include: The Honorable Ajit Pai, Chairman, FCC; The Honorable Mignon Clyburn, Commissioner, FCC; and The Honorable Michael O’Rielly, Commissioner, FCC.

·         On Wednesday at 12:00 p.m., the National Adult Learner Coalition hosts an event titled, “Adult Learners and the Economy,” to discuss how changes in federal policy can help adult learners overcome the challenges they face, which will ultimately create a stronger workforce in the future. Participants include: Anthony Carnevale, Research Professor and Director, McCourt School of Public Policy at the Georgetown University Center on Education and the Workforce; John Cavanaugh, President and Chief Executive Officer, Consortium of Universities of the Washington Metropolitan Area; and Monique Wardrick, adult learner, veteran, and recent graduate, University of Maryland University College.

·         On Wednesday at 2:00 p.m., the House Appropriations Subcommittee on Financial Services and General Government holds a hearing to receive testimony from Members of Congress on their funding priorities for the fiscal year 2018 appropriations bill. The subcommittee has jurisdiction over the Consumer Financial Protection Bureau, FCC, Federal Trade Commission, Securities and Exchange Commission (SEC), and other independent agencies.

·         On Thursday at 12:00 p.m., the Federal Reserve releases its “Financial Accounts of the United States - Z.1” report, which examines the assets, liabilities, net worth, and consumer credit (including student loans) of households, nonprofit organizations, and nonfinancial corporate businesses. The Z.1 report is released four times a year, in March, June, September, and December.

·         Saturday through next Tuesday, all day, the American Council on Education (ACE) holds its 99^th Annual Meeting, which provides an opportunity to explore and discuss the major issues facing postsecondary institutions today. The conference will includes sessions titled: “The Next Wave of Higher Education Change,” “A Guide to Taking Advantage of Public Service Loan Forgiveness,” “Higher Education in the Balance: What Does Society Want from Colleges and Universities,” and “American College Application Campaign: Working with Higher Education Leaders to Promote Access and Completion.”

 

This information is shared by SASFAA's Legislative Affairs' Committee and NCHER.

 

State Legislative Update - March 2017

 

State Legislative Update                               

March 2017

 Legislative news from across the SASFAA region, prepared by your 2016-2017 SASFAA Legislative Relations Committee.

Christen Neher – SASFAA Legislative Relations Chair

Ron Gambill – TASFAA Governmental Relations Chair
Mary Otto – NCASFAA Legislative Advisory Chair
Vanessa Fulton – GASFAA Legislative Affairs Chair
Erin Klarer – KASFAA Legislative Chair
Jennifer Epperson – AASFAA Legislative Relations Chair
Francisco Valines – FASFAA Legislative Relation Chair
Della Bays – VASFAA Government Relations Chair
Amanda Holliday – MASFAA Legislative Chair
Joey Derrick – SCASFAA Legislative Relations Chair
Amy Berrier – SASFAA Past President
Mike O’Grady – Legislative Knowledge Expert

Alabama

Legislators hear presentations on outcomes-based funding: http://www.oanow.com/news/legislators-hear-presentations-on-outcomes-based-funding/article_54c74226-e8fa-11e6-b9b7-8788640a19a1.html

The Legislature should increase higher education funding: http://www.al.com/opinion/index.ssf/2017/02/the_legislature_should_increas.html

Hundreds of students rally at Statehouse for higher education: http://www.oanow.com/news/hundreds-of-students-rally-at-statehouse-for-higher-education/article_b7b0f5bc-fa07-11e6-8f55-b3fdcd21daa5.html

Higher Education Day highlights need for university funding: http://www.montgomeryadvertiser.com/story/news/2017/02/23/higher-education-day-highlights-need-university-funding/98313052/

Georgia

Chancellor Steve Wrigley recently recommended two consolidations to the Board of Regents: Georgia Southern University and Armstrong State University and Abraham Baldwin Agricultural College and Bainbridge State College. The Board acted upon the recommendations at its January 2017 meeting approving the consolidations. The two new institutions will be named Georgia Southern University, to be led by President Jaimie Hebert, and Abraham Baldwin Agricultural College, to be led by President David Bridges.

Resource: http://www.usg.edu/consolidation/

North Carolina

Weapons on Campus – H174

On Thursday, House Bill 174 was introduced, which would make it legal for persons with concealed carry permits to carry a concealed weapon on educational property outside the operating hours of the school when the property is the location of both a school and a building that is a place of religious worship. The term “school” is defined in the statute that is being amended as including a college or university.  The bill does not make it clear that schools, or even places of religious worship that are privately owned, can continue to prevent “concealed carry” if they post their property.

We believe this bill is an attempt to allow churches that have private K-12 schools affiliated with them to allow “concealed carry” on the premises of the church during hours that the school is not in operation, and not an attempt to circumvent the ability of private property owners to post their property.  However, that is not evident from the text of the bill, so we have contacted the primary sponsor, Rep. Reena Turner, to address our concern.  We will keep you posted on our communication and efforts to clarify this bill.

Resource: http://www.ncicu.org/

Kentucky

I need you all to stop what you are doing and call your elected officials to support HB 24. This very important legislation will allow my hair dresser to serve me bourbon while she works her magic on my head. Not even kidding. Personal sanity is at stake here. ;)

In work-related news, HB 312 – KHEAA’s Teacher Scholarship/Best In proposal passed out of the Education Committee and off of the House Floor this week. It will head to the Senate next week.

No action yet on HB 205, 206 or 264. These are the work-ready and dual credit bills. I’m pretty sure 264 is dead though. But if you have strong feelings about either one of these programs, I would suggest bringing it up with your Reps and Senators. 

There are a few higher education tax deduction bills out there (HB 216, 382, 436). Word is that all tax bills are being saved for a special session.

I’m pretty sure the KEES bills, HB 20 and 62, are dead.

HB 481 is interesting. It looks like it is trying to put a box around tuition waivers to limit them to dependents ages 17-26, and only for 128 credit hours.

SB 136 also passed out of committee this week, which will allow for in-state tuition for members of the Kentucky National Guard that live in other states. It will head to the House next.

SB 153 also passed out of the Senate Chamber and will be taken up in the House next week. This is the performance-based funding legislation.

We also had our 2^nd Annual KASFAA Day at the Capitol yesterday (you can see photos on our Facebook page here: https://www.facebook.com/KASFAA/. We watched the action on the House and Senate floors, attended a House Education Committee Meeting, met with our elected Representatives and Senators, chatted with officials from the Kentucky Lottery Corporation (which generates revenue for our three biggest state grants and scholarships), and heard from the Legislative Research Commission’s Budget Review staff. It was a great event!

South Carolina

With the 122^nd Session of the South Carolina Legislative session underway, a flurry of higher education-related bills have been introduced.  Many of those bills aim to increase accountability and transparency, as well as cost control and oversight.  Discussions covering the impact of the newly-implemented 10 point grading scale in K-12 on state-supported scholarship and grant programs continue to gain attention.  Legislation has also been discussed allowing concealed weapons permit holders to carry such weapons on public college campuses.

Florida

Florida is currently tracking H.R.615: To amend the Internal Revenue Code of 1986 to include student loan repayers as members of targeted groups for purposes of the work opportunity credit and to provide for a credit against tax for student loan program startup costs.  

Reference H.R. 615 - 115th Congress: Student Loan Repayment Act of 2017 for the details.

Tennessee

Governor Haslem will push for funding the Tennessee Reconnect program during the upcoming budget hearings of the Tennessee Legislature.  The program is similar to Tennessee Promise as it is also a last-dollar scholarship.  It provides free tuition and mandatory fees to independent students who are enrolled in a certificate or associate degree program at a community college or a four-year public or private institution.  If passed, the program would serve over 21,000 students in year one and begin in the Fall 2018 semester. 

 

 

 

 

 

 

This Week in Legislation - Week of February 27, 2017

Week of February 27, 2017

 

·         This week, both the U.S. House and U.S. Senate are in session for legislative business. While neither chamber is expected to consider student financial aid-related legislation, the U.S. House is expected to consider a number of regulatory reform bills, including:

 

o   H.R. 998, the Searching for and Cutting Regulations that are Unnecessarily Burdensome (SCRUB) Act, which would establish a Retrospective Regulatory Review Commission tasked with reviewing the Code of Federal Regulations to review those federal rules that should be repealed to lower the cost of regulation to the economy, with a special focus on those major rules that have been in effect for more than 15 years, impose paperwork burdens or unfunded mandates, and impose disproportionately high costs on small businesses.

o   H.R. 1004, the Regulatory Integrity Act, which would require each federal agency to make publicly available a list of pending regulatory actions.

o   H.R. 1009, the Office of Information and Regulatory Affairs Insight, Reform, and Accountability Act, which would create a Regulatory Working Group at the Office of Management and Budget whose members would assist federal agencies in the development of innovative regulatory techniques; the methods, efficacy, and utility of comparative risk assessment in regulatory decision-making; and the development of streamlined regulatory approaches for small businesses and other entities. The bill would also require each federal agency to release an annual regulatory plan that includes each significant regulatory action that the agency reasonably expects to issue in proposed or final form in the following fiscal year, and expand the amount of information included in the bi-yearly Unified Agenda.

 

·         Today at 6:30 p.m., New America hosts a conversation with Tressie McMillan Cottom, Assistant Professor of Sociology at Virginia Commonwealth University and author of Lower Ed: the Troubling Rise of For-Profit Colleges in the New Economy. Other participants include: Robert Shireman, Senior Fellow, The Century Foundation; Laura Hanna, Founder and Co-Director, Debt Collective; Sarah Jaffe, Journalist and Fellow, The Nation Institute, and Author, Necessary Trouble: Americans In Revolt; and Stephen Burd, Senior Policy Analyst, Education Policy, New America.

·         On Tuesday, all day, Sen. Tim Scott (R-SC) and Rep. Mark Walker (R-NC) host the leadership of Historically Black Colleges and Universities (HBCUs) on Capitol Hill. The HBCU Fly-In hosted by the Thurgood Marshall College Fund will bring together 85 presidents and chancellors to focus on opportunity, strengthening bilateral relationships, and celebrating the importance of our country’s HBCUs. Education Secretary Betsy DeVos will serve as the event’s keynote speaker. Other participants include: House Speaker Paul Ryan (R-WI); Sen. Marco Rubio (R-FL); Rep. Bradley Byrne (R-AL); Rep. Trey Gowdy (R-SC); Rep. Mia Love (R-UT); Johnny Taylor, President, Thurgood Marshall Foundation; and Dr. Michael Lomax, President and Chief Executive Officer, United Negro College Fund.

·         On Tuesday at 10:00 a.m., the House Education and the Workforce Subcommittee on Early Childhood, Elementary, and Secondary Education holds a hearing entitled, “Providing More Students a Pathway to Success by Strengthening Career and Technical Education.” Witnesses include: Glen Johnson, Manufacturing Workforce Development Leader, BASF Corporation; Janet Goble, Director of Career and Technical Education, Canyons School District; Mimi Lufkin, Chief Executive Officer, National Alliance for Partnerships in Equity; and Mike Rowe, Chief Executive Officer, mikeroweWORKS Foundation.

·         On Tuesday at 10:00 a.m., the House Financial Services Committee meets to consider its views and estimates on the federal budget for fiscal year 2018.  The document includes the following language, which will be sent to the House Budget Committee for possible inclusion in the Congressional budget resolution:

The Committee remains gravely concerned that the Dodd-Frank Act has failed to achieve its proponents’ stated goals of promoting the financial stability of the United States, ending “too big to fail” and taxpayer bailouts, and protecting consumers. Instead, the Committee believes that the Dodd-Frank Act has endangered taxpayers and our economy by enshrining “too big to fail” in statute, creating endless new regulatory mandates from Washington that have resulted in fewer and more expensive financial products and services, increased moral hazard in markets by failing to address the true causes of the financial crisis, and hampered economic growth. The Committee intends to advance legislative proposals – including the Financial CHOICE Act – to replace the failed aspects of the Dodd-Frank Act with free-market alternatives that end bailouts once-and-for-all, restore market discipline, ensure that the financial system is more resilient, pare back unnecessary and burdensome regulations, encourage capital formation and economic growth, and protect consumers by preserving financial independence and consumer choice. In addition, the Committee intends to advance legislation to place the non-monetary policy activities of the independent agencies within the Committee’s jurisdiction on the appropriations process.

·         On Tuesday at 2:00 p.m., The Heritage Foundation holds a discussion with the authors of the publication, Prosperity Unleashed: Smarter Financial Regulation. Panelists include: David Burton, Senior Fellow in Economic Policy, The Heritage Foundation; Diane Katz, Senior Research Fellow in Regulatory Policy, The Heritage Foundation; Brian Knight, Senior Research Fellow with the Financial Markets Working Group, The Heritage Foundation; Thaya Brook Knight, Associate Director, Financial Regulation Studies, Cato Institute; and George Selgin, Senior Fellow and Director, Center for Monetary and Financial Alternatives, Cato Institute talk about their publication which provides solutions to the core regulatory problems that have existed in U.S. financial markets for decades. For details and to register, visit The Heritage Foundation website.

 

·         On Tuesday at 9:00 p.m., President Donald Trump delivers his first address to a joint session of Congress in which he is expected to outline his legislative agenda, including budgetary and economic goals.

 

·         On Wednesday at 10:00 a.m., the House Appropriations Subcommittee on Labor/Health and Human Services/Education holds a hearing to receive testimony from Members of Congress on their funding priorities.

·         On Wednesday at 2:00 p.m., the Federal Reserve releases its Beige Book. Eight times a year, the Fed releases its Beige Book, a summary of current economic conditions for the 12 Federal Reserve Districts based on anecdotal information gathered through reports from Bank and Branch Directors and interviews with key business contacts, economists, market experts, and other sources.

·         On Wednesday at 6:00 p.m., Federal Reserve Board of Governors Member Lael Brainard gives a speech titled, “Economic Outlook and Monetary Policy,” at the Malcolm Wiener Lecture in International Political Economy being held in Cambridge, MA.

·         On Thursday at 10:00 a.m., the House Budget Committee holds a hearing to receive testimony from Members of Congress on their priorities for the federal budget for fiscal year 2018.

 

·         On Thursday beginning at 10:30 a.m., the Consumer Financial Protection Bureau (CFPB) Consumer Advisory Board meets to discuss consumer reporting activities, including the Bureau’s open credit score initiative; review the CFPB’s enforcement actions over the last five years; examine trends and themes in consumer financial markets; and receive an update on enhancements to the Bureau’s Consumer Complaint Database. CFPB Director Richard Cordray will deliver opening remarks.

·         On Friday at 12:15 p.m., Federal Reserve Board of Governors Member Jerome Powell gives a speech titled, “Innovation, Technology, and the Payments System,” at the Roundtable on Blockchain: The Future of Finance and Capital Markets being held in New Haven, CT.

·         On Friday at 12:30 p.m., Federal Reserve Board of Governors Vice Chairman Stanley Fischer gives a speech titled, “Fed Monetary Policy Decision-Making,” at the 2017 U.S. Monetary Policy Forum in New York, NY.

·         On Friday at 1:00 p.m., Federal Reserve Board of Governors Chairwoman Janet Yellen gives a speech on the country’s economic outlook at the Executives Club of Chicago in Chicago, IL.

 

This information is shared by SASFAA's Legislative Affairs' Committee and NCHER.