October 2023 Outlook

16 Oct October 2023 Outlook

We wanted to provide a brief outlook of issues that Congress must handle before the end of this legislative session, although actions on these issues will occur after the House’s Speaker situation is resolved. We will also break down expected actions from the federal regulators. Given the uncertainty and fluid nature of efforts to confirm a new Speaker, we do not opine on that situation here. The main issue in Congress continues to be government funding as we head towards November 17th, the date by which Congress must pass an appropriations package or another CR to avert a government shutdown.

Aside from working through the appropriations process, Congress still has several other legislative priorities to address, such as passing a Fiscal Year 2024 National Defense Authorization Act (FY24 NDAA), a farm bill, and reauthorizing the National Flood Insurance Program (NFIP) and the Federal Aviation Administration (FAA) Act, among others. Additionally, the surprise military assault on Israel by Hamas has created yet another geopolitical risk that lawmakers will likely need to address through an Israel-specific aid package. While we would normally expect ample committee business over the coming weeks, including robust hearing schedules, many committee agendas are in flux given the uncertainty in the appropriations process and the lack of a House Speaker. Below, RFA provides our high-level take on notable activity at the legislative, regulatory, and administrative levels for this unusual October work period.