The Senate Finance Committee is one of the most powerful committees in Congress. It has jurisdiction over taxation, international trade, Social Security, Medicare, Medicaid, and other health and welfare programs funded through the tax code.
While the Constitution requires tax bills to originate in the House, the Finance Committee rewrites and amends them extensively, often producing substantially different legislation. Bills related to tax reform, trade agreements, tariffs, healthcare entitlements, prescription drug pricing, and welfare programs are referred here. The committee also holds confirmation hearings for the Treasury Secretary, IRS Commissioner, and trade representatives. Its decisions affect the taxes every American pays and the benefits millions depend on.
ACCELERATING NETWORKING, CYBERINFRASTRUCTURE, AND HARDWARE FOR OCEANIC RESEARCH ACT
S. Rpt. 119-64 accompanies infrastructure legislation titled "Accelerating Networking, Cyberinfrastructure, and Hardware for Oceanic Research Act". Infrastructure bills affect highways, bridges, airports, transit, water systems, broadband, ports, or federal buildings. The Finance Committee's report describes the infrastructure need, the proposed federal investment or regulatory change, and projected economic and community benefits. Infrastructure reports typically include analysis of safety, efficiency, environmental impact, and regional effects.
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REPORT ON THE ACTIVITIES OF THE COMMITTEE ON FINANCE OF THE UNITED STATES SENATE DURING THE 118th CONGRESS PURSUANT TO Rule XXVI of the Standing Rules OF THE UNITED STATES SENATE
S. Rpt. 119-6 accompanies financial services legislation titled "REPORT ON THE ACTIVITIES OF THE COMMITTEE ON FINANCE OF THE UNITED STATES SENATE DURING THE 118th CONGRESS PURSUANT TO Rule XXVI of the Standing Rules OF THE UNITED STATES SENATE". Financial bills regulate banks, securities markets, consumer finance, insurance, housing finance, cryptocurrency, or anti-money-laundering. The Finance Committee's report explains the financial regulatory changes, the problems they address, the compliance implications for institutions, and potential effects on consumers and markets. Financial services reports often balance industry concerns against consumer protection goals.
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