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Monetary Policy and the Federal Reserve: Current Policy and Conditions
This report discusses how the Federal Reserve (Fed) handles monetary policy, including background information about the execution of monetary policy, the recent and current stance of monetary policy, and current legislation and Congressional oversight that would affect the Fed's practices.
The Committee on Foreign Investment in the United States (CFIUS)
This report gives a brief overview of P.L. 110-49, the Foreign Investment and National Security Act of 2007. Although both the President and Congress are directly involved in formulating the scope and direction of U.S. foreign investment policy, this law broadens Congress' oversight role; it also explicitly includes the areas of homeland security and critical infrastructure as separately-identifiable components of national security that the President must consider when evaluating the national security implications of a foreign investment transaction.
Troubled Asset Relief Program (TARP): Implementation and Status
This report provides a brief outline of the programs created under the Troubled Asset Relief Program (TARP), changes made by Congress, and a summary of the current status and estimated costs of the program. It also provides an Appendix that contains detailed discussions of the individual TARP programs.
Social Security Reform: Current Issues and Legislation
This report discusses The Social Security reform, which is an issue of interest to policy makers that arises in various contexts, from improving retirement security to reducing federal budget deficits. The report looks at the Social Security debate, Social Security future projections, and public opinion on Social Security reform. It also looks at past reform measures, from the 109th-112th Congress, none of which received congressional action.
Financial Assets and Conflict of Interest Regulation in the Executive Branch
This report discusses the federal regulation of potential "conflicts of interest" which may arise as a result of the personal financial holdings, assets, securities, property, and financial transactions in assets and securities of an official in the executive branch of the federal government.
Financial Services and General Government (FSGG): FY2014 Appropriations
This report discusses the Financial Services and General Government (FSGG) appropriations bill that provides funding for the Department of the Treasury, the Executive Office of the President (EOP), the judiciary, the District of Columbia, and more than two dozen independent agencies.
Government Assistance for GMAC/Ally Financial: Unwinding the Government Stake
This report discusses the auto financing industry, particularly Ally Financial, formerly known as General Motors Acceptance Corporation or GMAC.
Independence of Federal Financial Regulators
This report discusses institutional features that make federal financial regulators (as well as other independent agencies) relatively independent from the President and Congress.
Terrorism Risk Insurance: Issue Analysis and Overview of Current Program
This report looks at the background and current Congressional status of the Terrorism Risk Insurance Act of 2002.
Small Business Administration: A Primer on Programs and Funding
This report provides an overview of the Small Business Administration (SBA) business loan guaranty programs.
The Volcker Rule: A Legal Analysis
This report provides an introduction to the Volcker Rule, which is the regulatory regime imposed upon banking institutions and their affiliates under Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (P.L. 111-203).
Highway and Public Transportation Infrastructure Provision Using Public-Private Partnerships (P3s)
This report discusses two broad policy options for Congress as it considers reauthorizing federal surface transportation programs.
Financing the U.S. Trade Deficit
This report provides an overview of the U.S. balance of payments, an explanation of the broader role of capital flows in the U.S. economy, an explanation of how the country finances its trade deficit or a trade surplus, and the implications for Congress and the country of the large inflows of capital from abroad.
Terrorism Risk Insurance: Issue Analysis and Overview of Current Program
This report looks at the background and current Congressional status of the Terrorism Risk Insurance Act of 2002.
Costs of Government Interventions in Response to the Financial Crisis: A Retrospective
This report presents how much the Troubled Asset Relief Program (TARP) ultimately cost (or benefited) the taxpayers based on straightforward cash accounting as reported by the various agencies.
Foreign Investment in U.S. Securities
This report analyzes the extent of foreign portfolio investment in the U.S. economy, assesses the economic conditions that are attracting such investments, and discusses the impact such investments are having on the economy. This report relies on a comprehensive set of data regarding capital flows represented by purchases and sales of U.S. government securities and U.S. and foreign corporate stocks and bonds into and out of the United States; the data is reported by the Treasury Department on a monthly basis.
Selected Legislative Proposals to Reform the Housing Finance System
This report briefly explains the different approaches to housing finance reform offered by several legislative proposals, focusing on efforts to replace Fannie Mae and Freddie Mac and to reform the Federal Housing Administration (FHA).
Social Security: Calculation and History of Taxing Benefits
This report discusses the Social Security system that provides monthly benefits to qualified retirees, disabled workers, and their spouses and dependents.
The State of Campaign Finance Policy: Recent Developments and Issues for Congress
This report includes updated material that emphasizes the issues most prominently before the 113th Congress. It also discusses foundational information about major elements of campaign finance policy.
Multilateral Development Banks: How the United States Makes and Implements Policy
This report analyzes how the United States makes policy towards the multilateral development banks (MDBs) and identifies ways by which Congress can shape U.S. policy and influence the activities of the banks themselves.
The Global Climate Change Initiative (GCCI): Budget Authority and Request, FY2010-FY2015
This report discusses financial assistance for global climate change initiatives in developing countries. The Global Climate Change Initiative (GCCI) -- one of the three main pillars to the 2010 directive -- aims to integrate climate change considerations into relevant foreign assistance, from FY2008 enacted funding request for FY2010 through the FY2014.
Corporate Expatriation, Inversions, and Mergers: Tax Issues
This report discusses relevant portions of the U.S. corporate income tax system and how inversions have commonly been structured. It also looks at how Congress and Department of the Treasury have reduced the benefits of inversions, including The American Jobs Creation Act, as well as post-2004 inversions and treasury regulations, and policy options.
The State of Campaign Finance Policy: Recent Developments and Issues for Congress
This report includes updated material that emphasizes the issues most prominently before the 113th Congress. It also discusses foundational information about major elements of campaign finance policy.
The American Opportunity Tax Credit: Overview, Analysis, and Policy Options
This report provides both an in-depth description of the American Opportunity Tax Credit, an analysis of its economic impact, and an overview of various policy options.
Foreign Holdings of Federal Debt
This report presents current data on estimated ownership of U.S. Treasury securities and major holders of federal debt by country. Federal debt represents the accumulated balance of borrowing by the federal government.
Monetary Policy and the Federal Reserve: Current Policy and Conditions
This report discusses how the Federal Reserve (Fed) handles monetary policy, including background information about the execution of monetary policy, the recent and current stance of monetary policy, and current legislation and Congressional oversight that would affect the Fed's practices.
Tolling U.S. Highways
This report provides a brief history of tolling on federal roads and current law. The report discusses financial realities on toll roads and tolling policy issues.
Housing Issues in the 113th Congress
This report begins by providing an overview of the current state of housing markets (both homeownership and rental) and the mortgage market in order to provide context for the policy issues that have been active during the 113th Congress. It then provides a brief description of issues that the 113th Congress has been considering. These issues are broadly divided into two categories: issues related to homeownership and housing finance, and issues related to housing assistance for low-income households
An Analysis of the Geographic Distribution of the Mortgage Interest Deduction
This report analyzes variation in the mortgage interest deduction tax expenditure across states. Tax expenditures, such as the mortgage interest deduction, can generally be viewed as government spending administered via the tax code, or as tax incentives that are intended to achieve particular policy objectives. Regardless of the interpretation, tax expenditures provide a benefit to qualifying taxpayers by lowering their federal tax liabilities.
Social Security: Calculation and History of Taxing Benefits
This report discusses the calculations that go into taxing Social Security benefits, which prior to 1984 were exempt from taxation but have since been taxed at gradually increasing levels.
Export-Import Bank Reauthorization: Frequently Asked Questions
This report addresses frequently asked questions about Ex-Im Bank, grouped in the following categories: congressional interest and the Ex-Im Bank reauthorization debate; market context; international context; organizational structure and management; programs; statutory requirements and policies; risk management; budget and appropriations; implications of a sunset in authority; and historical and current approaches to reauthorization.
Proposals to Eliminate Public Financing of Presidential Campaigns
This report discusses Presidential campaign funding and provides a brief policy overview and raises potential issues for congressional consideration.
Social Security: The Trust Fund
This report covers how the Social Security program is financed and how the Social Security trust fund works.
Dark Pools in Equity Trading: Policy Concerns and Recent Developments
This report examines the confluence of factors that led to the rise of dark pools; the potential benefits and costs of such trading; some regulatory and congressional concerns over dark pools; recent regulatory developments by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), which oversees broker-dealers; and some recent lawsuits and enforcement actions garnering significant media attention.
Social Security: Trust Fund Investment Practices
This report describes Social Security trust fund investment practices under current law.
Export-Import Bank Reauthorization Debate
This report discusses the ongoing debate regarding the Export-Import Bank of the United States, a federal government corporation which is the the official export credit agency (ECA) of the U.S. Government. The bank's statutory charter expires on September 30, 2014, meaning that its authority to obligations generally would cease and a wind-down of operations would be required. The report gives four possible scenarios for approaches Congress could take in regards to approaching the bank's future authorization status.
Corporate Expatriation, Inversions, and Mergers: Tax Issues
This report discusses relevant portions of the U.S. corporate income tax system and how inversions have commonly been structured. It also looks at how Congress and Department of the Treasury have reduced the benefits of inversions, including The American Jobs Creation Act, as well as post-2004 inversions and treasury regulations, and policy options.
Insurance Regulation: Issues, Background, and Legislation in the 113th Congress
This report discusses the legislation in the 113th Congress regarding insurance regulation. Among the insurance regulatory issues addressed by legislation in the 113th Congress are the application of federal orderly liquidation authority to insurers (addressed in H.R. 605); the supervision of some insurers by the Federal Reserve (addressed in H.R. 2140, H.R. 4510, H.R. 5461, S. 2102, and S. 2270); and the licensing of insurance agents and brokers (addressed in S. 534, S. 1926, S. 2244, H.R. 1155/H.R. 1064, and H.R. 4871).
Public Financing of Presidential Campaigns: Overview and Analysis
This report discusses current controversies and arguments for and against public financing of presidential campaigns; legislative history; elements of the program; taxpayer and candidate participation; financial status of the program; recent legislation; and analysis of various policy proposals. If Congress chooses to alter the program, consensus will be necessary in what has historically been a particularly complex and contentious area of campaign finance policy.
Unlawfully Present Aliens, Higher Education, In-State Tuition, and Financial Aid: Legal Analysis
This report surveys key legal issues pertaining to unlawfully present alien students' access to higher education, in-state tuition, and financial aid.
Palestinian Authority: U.S. Payments to Creditors as Alternative to Direct Budgetary Assistance?
A September 24, 2014, congressional notification (CN) from the U.S. Agency for International Development (USAID) may reflect a new executive branch approach in assisting the Palestinian Authority (PA) to pay off some of the debts it incurs in providing various benefits and services to West Bank and Gaza residents. The CN indicates that USAID plans to obligate a total of $100 million in FY2014 bilateral economic assistance for the Palestinians toward direct U.S. payments to PA creditors. This report briefly discusses the details and implications of this new alternative method.
Taxation of Hedge Fund and Private Equity Managers
This report discusses the major issues surrounding the tax treatment of hedge fund and private equity managers and will be updated as legislative developments warrant.
"Dark Pools" In Equity Trading: Significance and Recent Developments
This report discusses "Dark Pools", relatively recent and controversial electronic stock trading alternatives to traditional exchanges, such as the New York Stock Exchange (NYSE), and now account for about 15% of overall trading volume. The report discusses the pros and cons of "dark trading", civil suits in reaction to Dark Pools and recent Securities and Exchange Commission actions.
International Trade and Finance: Key Policy Issues for the 113th Congress, Second Session
This report highlights major international trade and finance issues that the 113th Congress may address. This report presents broader congressional oversight of the economic and political context of the current U.S. participation in the global economy.
International Monetary Fund: Background and Issues for Congress
This report evaluates the purpose, membership, financing, and focus of the International Monetary Fund's (IMF) activities. It also discusses the role of Congress in shaping U.S. policy at the IMF and concludes by addressing key issues, both legislative and oversight-related, that Congress may wish to consider, including: the role of the IMF as a lender of last resort; the adequacy of IMF resources; and the effectiveness of IMF surveillance.
Designating Systemically Important Financial Institutions (SIFIs)
This report discusses congressional concerns regarding the Financial Stability Oversight Council's (FSOC) authorization to designate certain non-bank entities as Systemically Important Financial Institutions (SIFI).
IMF Reforms: Issues for Congress
This report provides information about the reforms made by the Board of Governors of the International Monetary Fund (IMF) in December 2010, Congress's role in the reform process, and how the reforms could affect U.S. interests at the IMF.
Primer on Disability Benefits: Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI)
This report provides an overview on federal disability benefits programs including Social Security Disability Insurance (SSDI), which is an insurance program that provides benefits to individuals who have paid into the system and meet certain minimum work requirements, and Supplemental Security Income (SSI), which is a means-tested program that does not have work or contribution requirements, but restricts benefits to those who meet certain financial eligibility criteria.
Securities Fraud Class Action Certification: Halliburton Co. v. Erica P. John Fund, Inc.
This report discusses requirements for securities fraud class action certification. The report also specifically examines each of the decisions made in the Halliburton cases, which proceeded through two complete rounds in federal district court, court of appeals, and the Supreme Court.
Clean Coal Loan Guarantees and Tax Incentives: Issues in Brief
This report discusses certain federal financial incentive mechanisms for "clean coal" commercial projects; namely, loan guarantees and tax incentives. At issue for Congress is the extent to which the private sector has used these financial toolsto develop the technology needed for reducing carbon dioxide (CO2) emissions while continuing to use available domestic coal reserves for electricity generation.
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