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March 2023 Outlook

March 2023 Outlook

 Following a limited February legislative calendar, Congress will be in Washington for most of the month of March. The House will be in session for twelve days – they are out the week of March 13th – and the Senate in session for nineteen days. Recent developments in the Russia-Ukraine War, such as newly imposed Russian sanctions, questions as to whether China will provide lethal military assistance, and the debate around sending additional funding to Ukraine will take up oxygen in D.C. and could illuminate the division within the House Republican caucus on the conflict more broadly. Additionally, this month we expect continued interest in the debt ceiling crisis, oversight over the recent train derailments, as well as continued speculation on who President Biden will nominate to replace Lael Brainard for Vice Chair of the Federal Reserve. We also expect the Biden Administration to release their fiscal year 2024 budget request on March 9th, and House Republicans to release an outline of their budget proposal shortly thereafter. Other pressing items, committee schedules, and the regulatory agenda are included below.