Bills addressed by Finance Committee on Aug. 3

Bills addressed by Finance Committee on Aug. 3

The Finance Committee handled S.4750, S.4751, S.4761, S.4762 bills on Aug. 3, according to the US Congress.

Bill S.4750 titled “A bill to amend title XVIII of the Social Security Act to clarify and preserve the breadth of the protections under the Medicare Secondary Payer Act” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Robert Menendez with Bill Cassidy as cosponsor.

Bill S.4751 titled “A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Patrick Toomey with Cynthia Lummis, Rob Portman, Kyrsten Sinema, Mark Warner as cosponsors.

Bill S.4761 titled “A bill to amend title V of the Social Security Act to establish a grant program for community-based maternal mentoring programs” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Marco Rubio.

Bill S.4762 titled “A bill to amend IV of the Social Security Act to establish a demonstration grant program to provide emergency relief to foster youth and improve pre-placement services offered by foster care stabilization agencies, and for other purposes” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Deb Fischer with John Hickenlooper as cosponsor.

The Finance Committee moves forward in some way on one bill per day.

Most bills have a hearing where those involved explain why they are for or against the bill. Roughly 8,000 bills are addressed by committees each year but only about 800 make it to the floor of Congress, according to ushistory.org.

A 2019 report from the Brookings Institute argued committees aren’t capable of delving fully into the issues they address and are forced to rely on lobbyists.

Bills Addressed by Finance Committee on Aug. 3
Bill NameSponsorAction
A bill to amend title XVIII of the Social Security Act to clarify and preserve the breadth of the protections under the Medicare Secondary Payer Act.Sen. Menendez, RobertSenate
A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes.Sen. Toomey, Patrick J.Senate
A bill to amend title V of the Social Security Act to establish a grant program for community-based maternal mentoring programs.Sen. Rubio, MarcoSenate
A bill to amend IV of the Social Security Act to establish a demonstration grant program to provide emergency relief to foster youth and improve pre-placement services offered by foster care stabilization agencies, and for other purposes.Sen. Fischer, DebSenate