As 2021 comes to a close, there remain a number of “must pass” actions Congress needs to address before the end of the year. Here’s the scoop from BIO’s Federal Government Relations team.
Show me the money!
Congress avoided a government shutdown (for now).
The House and Senate passed the continuing resolution (“CR”), a temporary funding measure that allows government operations to continue in the absence of an appropriations bill.
This particular agreement will fund the government through February 18.
Bills, bills, bills
Next up, Congress must address the debt ceiling, which will allow the Treasury to fulfill the federal government’s current fiscal obligations. Treasury Secretary Janet Yellen recently announced the U.S. Treasury has enough money to pay its bills until December 15, but some economists believe the actual date could be closer to the middle of January.
Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell are actively discussing how to proceed. Congress is committed to not letting the U.S. fault on its debt, but how they achieve this remains to be seen.
Christmas Eve plans?
The $1.7 trillion Build Back Better Act (BBBA)passed the House before Thanksgiving and will now be considered by the Senate. Before a vote in the Senate can occur, the Parliamentarian must evaluate each policy to determine if it directly impacts the federal budget and thus can be included in a budget reconciliation. This process is known casually as “the Byrd Bath.” Democrats chose to utilize budget reconciliation so they could pass legislation with a simple majority (50 + the Vice President).
However, the simple majority is not as simple as it seems. In addition to the “Byrd Bath,” negotiations are ongoing with moderate Senate Democrats, who have made it clear that some policies included in the House version are non-starters. Because the Senate Democratic majority is so slim, a single “no” vote could kill the entire spending package.
Discussions with the Parliamentarian are expected to take a couple of weeks, and Leader Schumer has made it clear he wants to pass the BBBA before Christmas.
The bottom line: These moving pieces will set up a flurry of activity between now and the end of the year, so it's very possible Congress will be in Washington between Christmas and New Years to pass all three.
So, what now? Drug price controls are still on the table in the Build Back Better Act—learn more and contact your Senator to tell them why price-setting will harm patients and future cures.
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