Week ahead: Highway fight shifts to Senate

The Senate will be working toward a long-term infrastructure spending bill ahead of a looming July 31 deadline.

House lawmakers passed a short-term patch that would run to the end of the year, but senators are still hopeful they can negotiate a massive six-year deal.

Senators could also attach an amendment to the highway bill reauthorizing the Export-Import Bank, whose charter lapsed June 30.

{mosads}That could complicate efforts to pass the bill, whish is seen as “must-pass” legislation, with conservatives strongly opposing Ex-Im. Supporters say it helps create jobs and open markets to U.S. exports, but critics question using taxpayer money for it, and say that work should be left to the private sector.

Sen. Ted Cruz (R-Texas) hasn’t ruled out filibustering the transportation bill if it includes a provision saving Ex-Im.

Lawmakers will also turn their attention to the Dodd-Frank Wall Street reform law, which is turning five years old this year. Both Senate Banking Committee Chairman Richard Shelby (R-Ala.) and House Financial Services Committee Chairman Jeb Hensarling (R-Texas) will hold hearings on the law.

On Wednesday, the Senate Banking Committee will examine transparency at the Financial Stability Oversight Council.

Since it was created under Dodd-Frank, the council has been controversial and Republicans have pressed the group –made of the heads of the top financial regulators — for more transparency.

The House Financial Services Committee well meet Thursday for a hearing dubbed “Ending ‘Too Big to Fail’: What is the Proper Role of Capital and Liquidity?”

That same day, the Senate Banking Committee will have an hearing about how to measure the systemic importance of U.S. bank companies.

Recent stories

Hatch presses Lew on Puerto Rico, by Pete Schroeder: http://bit.ly/1gFog7o

Senate Finance turns to expired tax breaks, by Bernie Becker: http://bit.ly/1GqPbbO

Three more Swiss banks sign up with Justice, by Bernie Becker: http://bit.ly/1e599C9

Senate Dems to Yellen: Don’t rush rate hike, by Pete Schroeder: http://bit.ly/1KcG7ip

Ex-Im chairman says he’s following the law, by Kevin Cirilli: http://bit.ly/1HDNMR1