WASHINGTON–It’s going to be what one person is calling a “very stressful” week, and another is saying will be “very rapid” in Washington, where the congressional plate overfloweth.
As Jason Stverak, chief advocacy officer with the Defense Credit Union Council, and Greg Mesack, senior VP-advocacy with America’s Credit Unions, noted the issues before Congress right now include:
Reauthorization of the 702 section of the Foreign Intelligence Surveillance Act (FISA)
That bill needs to be passed by April 30th, unless some sort of time extension is passed. Both Stverak and Mesack acknowledged it’s a contentious issue that doesn’t necessarily align along party lines.
Mesack observed members of Congress have been “twisting like pretzels” looking to find a way forward on the FISA legislation.
The Farm, Food, and National Security Act of 2026 (H.R. 7567).
Otherwise known as the farm bill, it was introduced in early 2026 to update expired 2018 legislation.
Reconciliation 2.0
This is the budget bill credit unions have especially been giving attention. The bill has already been passed by the Senate and awaits action in the House, where it will be a “heavy lift,” according to Stverak.
“We do believe that Speaker (Mike) Johnson (R-LA) will be able to hold his members together,” said Mesack. “It’s going to be a close vote, a tight vote, but that’s part of the reason they’re keeping the bill very narrow, which we applaud. By keeping it narrow there’s no discussion of taxes in the reconciliation bill and it would be expected to stay that way.”
With the Department of Homeland Security (DHS) announcing last week it has run out of accounting gimmicks that have allowed it to pay DHS staff, including the Coast Guard, the Secret Service and TSA employees, the reconciliation legislation would provide the funding needed.
House Democrats continue to oppose the DHS funding over issues related to the oversight of ICE.
Mesack said the goal is to have the budget reconciliation bill done by June 1, “which is lightning quick but looking kind of realistic at the moment.”
Senate Vote on Fed Chair
There is a potential vote in the Senate on the nomination of Federal Reserve Chairman Kevin Warsh. Warsh is expected to be approved.
Reconciliation 3.0
Stverak said Speaker Johnson is already talking about budget reconciliation 3.0.
“Obviously, we’re going to remain on guard to ensure that any discussion of the (credit union) tax status as a pay-for (for any spending) is seen as a no go,” said Stverak. “It’s likely going to require cuts to pay for other issues that they’d like.”
The good news in all of the above, said both Mesack and Stverak, is that no credit union-opposed legislation or language is included in any of the proposals, such as that related to interchange.
