TechFlow News, March 25: According to Politico, House Republicans rejected a potential bicameral deal—offering to incorporate the House’s Community Bank Deregulation Act into pending cryptocurrency market structure legislation in exchange for the House accepting the Senate-passed Housing Affordability Act.
Bill Huizenga (R-MI), Vice Chair of the House Financial Services Committee, expressed skepticism, questioning whether he could endorse the logic of “trading our high-quality provisions for their low-quality ones.” Mike Flood (R-NE), Chair of the House Financial Services Committee’s Housing Subcommittee, also stated that numerous issues remain to be reviewed in the housing bill.
Background: Last week, Senate Banking Republicans discussed this exchange proposal during a closed-door meeting, led by Katie Britt (R-AL), Chair of the Senate Banking Committee’s Housing Subcommittee. The House passed its housing bill in February, which included community bank deregulation provisions; however, those provisions were removed from the Senate version. Senate Banking Committee Chairman Tim Scott and Ranking Minority Member Elizabeth Warren insisted that the House accept the Senate bill verbatim.
