|Wednesday, December 2, 2020|
Floor Schedule and Procedure:
Suspensions (4 bills)
1. S. 4054 – U.S. Grain Standards Reauthorization Act of 2020 (Sen. Roberts – Agriculture)
This bill reauthorizes the U.S. Grain Standards Act, to ensure Federal standards may continue to be set for grain quality assessments, handling, and inspection.
2. S. 945 – Holding Foreign Companies Accountable Act (Sen. Kennedy (LA) – Financial Services)
This bill would require the U.S. Securities and Exchange Commission (SEC) to identify companies: (a) that retain a public accounting firm located in a foreign jurisdiction; and (b) which foreign authorities prevent the Public Company Accounting Oversight Board (PCAOB) from inspecting their accounting firm. During the years the PCAOB is unable to inspect the company’s accounting firm, the company would be required to make certain disclosures, including disclosing any board members who are officials of the Chinese Communist Party. After three consecutive non-inspection years, S. 945 would prohibit certain companies from listing and trading their securities on any U.S. securities exchanges (or through any other method regulated by the SEC).
3. Senate Amendment to H.R. 1830 – National Purple Heart Hall of Honor Commemorative Coin Act (Rep. Sean Maloney – Financial Services)
This bill directs the U.S. Mint to issue commemorative coins for FY 2022 to commemorate the extraordinary sacrifice of American servicemen and servicewomen who were killed or wounded by enemy action. Surcharges from the sale of these coins will benefit the National Purple Heart Hall of Honor which collects and preserves the stories of Purple Heart recipients and serves as a living memorial to their sacrifices. The suspension text amends HR 1830 to update the year of implementation from “2021” to “2022”, includes financial assurance language, and directs surcharge disbursement to The National Purple Heart Honor Mission, Inc.
4. H.R. 7995 – Coin Metal Modification Authorization and Cost Savings Act of 2020 (Rep. Amodei – Financial Services)
This bill authorizes the Director of the Mint to modify the metallic composition of circulating coins if the modification will reduce costs to taxpayers and operate interchangeably (“seamlessly”) with existing coin acceptors that use electromagnetic signature technology, such as vending machines or laundromats. The Director must submit a report to Congress of the proposed modifications at least 90 days before proposed enactment.
QUOTE OF THE DAY:
“To be true to ourselves, we must be true to others.”