Sept. 22: bills handled by Finance Committee

Sept. 22: bills handled by Finance Committee

The Finance Committee handled S.4921, S.4934, S.4938, S.4939 bills on Sept. 22, according to the US Congress.

Bill S.4921 titled “A bill to amend the Internal Revenue Code of 1986 to modify the private business use requirements for bonds issued for lead service line replacement projects” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Michael Bennet with Cory Booker, Sherrod Brown, Ben Cardin, Dianne Feinstein, Amy Klobuchar, Chris Van Hollen as cosponsors.

Bill S.4934 titled “A bill to prohibit the Secretary of Homeland Security, or any other person, from requiring repayment, recoupment, or offset of certain antidumping duties and countervailing duties paid under section 754 of the Tariff Act of 1930, and for other purposes” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Lindsey Graham with Tim Scott as cosponsor.

Bill S.4938 titled “A bill to amend the Internal Revenue Code of 1986 to require that online contributions to a political organization require a credit verification value” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Marco Rubio with Marsha Blackburn, Deb Fischer, Josh Hawley as cosponsors.

Bill S.4939 titled “A bill to amend the Internal Revenue Code of 1986 to prevent double dipping between tax credits and grants or loans for clean vehicle manufacturers” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. John Thune with Bill Cassidy, Steve Daines, Patrick Toomey as cosponsors.

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 Sept. 22
Bill NameSponsorAction
A bill to amend the Internal Revenue Code of 1986 to modify the private business use requirements for bonds issued for lead service line replacement projects.Sen. Bennet, Michael F.Senate
A bill to prohibit the Secretary of Homeland Security, or any other person, from requiring repayment, recoupment, or offset of certain antidumping duties and countervailing duties paid under section 754 of the Tariff Act of 1930, and for other purposes.Sen. Graham, LindseySenate
A bill to amend the Internal Revenue Code of 1986 to require that online contributions to a political organization require a credit verification value.Sen. Rubio, MarcoSenate
A bill to amend the Internal Revenue Code of 1986 to prevent double dipping between tax credits and grants or loans for clean vehicle manufacturers.Sen. Thune, JohnSenate