The short skinny on recently passed bills

[Iwillnevergiveup]

Highway/Flood Insurance/Student Loan Package – Adoption of Conference Report - Vote Agreed to (74-19, 1 Present, 6 Not Voting)

After months of speculation about whether any of the highway, flood insurance, or student loan bills would become law this year, all three cleared the Senate as a single package last week. The final agreement combined a 27-month reauthorization of highway, transit and transportation safety programs; a one-year extension of lowered interest rates on federally-subsidized Stafford loans; and a five-year reauthorization of the National Flood Insurance Program (NFIP).

The surface transportation component featured by far the most drama of the three provisions, as the fight surrounding it lasted far longer, dating back to last year. More importantly (at least outside the Beltway) infrastructure spending will provide a much-needed shot in the arm for the construction industry and hopefully the broader economy. The bill makes several major changes to existing transportation law, including streamlining project approval, drastically reducing the number of federal programs through consolidation, and giving states more spending flexibility on certain types of projects. The NFIP measure is designed to bring the program back into solvency following years of indebtedness. Payouts resulting from the devastating Gulf Coast hurricanes in 2005-6 had left the program roughly $18 billion in debt. The new law will raise premiums overall and cover more homeowners.

The combined measures would be paid for largely by two changes to pension law. The first would change the formula by which employers contribute to their employees’ defined benefit plans. The second would increase employer premiums on insurance provided by the Pension Benefit Guaranty Corporation, a federal entity that insures private sector defined benefit pension plans. A third offset would shorten the amount of time students are eligible for an in-school interest subsidy on their loans.

[Iwillnevergiveup]

1. This info

came via my superb Congressional rep., Xavier Becerra (CA-31).

[The Wielding Truth]

2. "all three cleared the Senate", what about the House? Or don't they need to?

[notadmblnd]

3. How a Bill Becomes a Law

1. A member of Congress introduces a bill.
When a senator or representative introduces a bill, it is sent to the clerk of the Senate or House, who gives it a number and title. Next, the bill goes to the appropriate committee.

2. Committees review and vote on the bill.
Committees specialize in different areas, such as foreign relations or agriculture, and are made up of small groups of senators or representatives.

The committee may reject the bill and “table” it, meaning it is never discussed again. Or it may hold hearings to listen to facts and opinions, make changes in the bill and cast votes. If most committee members vote in favor of the bill, it is sent back to the Senate and the House for debate.

3. The Senate and the House debate and vote on the bill.
Separately, the Senate and the House debate the bill, offer amendments and cast votes. If the bill is defeated in either the Senate or the House, the bill dies.

Sometimes, the House and the Senate pass the same bill, but with different amendments. In these cases, the bill goes to a conference committee made up of members of Congress. The conference committee works out differences between the two versions of the bill.

Then the bill goes before all of Congress for a vote. If a majority of both the Senate and the House votes for the bill, it goes to the President for approval.

4. The President signs the bill—or not.
If the President approves the bill and signs it, the bill becomes a law. However, if the President disapproves, he can veto the bill by refusing to sign it.

Congress can try to overrule a veto. If both the Senate and the House pass the bill by a two-thirds majority, the President's veto is overruled and the bill becomes a law.

[The Wielding Truth]

4. Thanks, but my question is. Where is this bill in the process?

[quaker bill]

5. On Obama's desk for signature

It easily passed both houses last week.