(UBS)
The Senate passed in August and the House passed earlier this month a continuing resolution that extended government funding through 11 December. This week, the House passed bipartisan Russia sanctions legislation and a bill aimed at preventing data centers from passing increased energy infrastructure costs on to consumers. The lower chamber then cut its session short and is not scheduled to return until after the midterm elections. The Senate will be in session three weeks (including this week). It took up a crypto market structure bill and a college sports bill. The Senate Agriculture Committee advanced a five-year farm bill covering agricultural, nutrition, conservation, and rural development programs. With the legislative calendar rapidly shrinking and no remaining must-pass deadlines before November, many of Congress’ unfinished priorities will have to wait until after the election.
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