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November 2023 Outlook

November 2023 Outlook

It’s business as usual in Washington D.C. after a tumultuous October in the nation’s capital. With the Speaker vacancy now in the rear-view mirror, Congress has until November 17th to address a number of must-pass items, such as the FY24 appropriations package, the NDAA, the farm bill, flood insurance reauthorization, and FAA reauthorization. Given the limited legislative window, Congress will either pass a continuing resolution (CR) to fund these priorities or face a government shutdown. All the while, Congress will likely respond to the crisis in Israel and Gaza in the form of a supplemental aid package as the turmoil in the region shows no signs of easing. Although, at this time, it is unclear what a finished supplemental package would look like or if it could be paired with funding for other geopolitical priorities, like Ukraine or Taiwan.

Aside from must-pass looming priorities, a regular cadence of hearings will resume after a short hiatus in the House of Representatives, with the prudential regulators and CFPB Director Chopra expected to testify this month in front of the House Financial Services and Senate Banking Committees. We also expect Biden Administration regulators to continue pursuing their agendas. Below, RFA provides our notable legislative, regulatory, and administrative activity for the November work period.