5. Dodd-Frank Wall Street Reform and Consumer Protection Act (H.R. 4173)
Previous Ranking: 4
Sponsor: Rep. Barney Frank (D-MA)
Also known as the "Restoring American Financial Stability Act," or more commonly as the "financial regulatory reform bill," this legislation was signed by President Obama on July 21, six months after its initial introduction. This law is intended to address the causes of the 2008 economic crisis. It aims to create a watchdog council at the Federal Reserve and also to mitigate the dangers of "too-big-to-fail" financial institutions by providing a way to liquidate failed firms. [See a list of the finance and credit industry's favorite lawmakers.]
6. Veterans' Compensation Cost-of-Living Adjustment Act of 2010 (H.R. 4667)
Not on list last week
Sponsor: Rep. Tom Perriello (D-VA)
As the title suggests, this bill seeks to increase the rates of veterans' benefits such as disability compensation and dependent compensation, as well as the clothing allowance for some disabled veterans. The bill passed the House unanimously, 407-0, and also passed the Senate with unanimous consent last week, and has been presented to President Obama. Once signed, its changes would go into effect on December 1, 2010.
7. National Defense Authorization Act for Fiscal Year 2011 (H.R. 5136)
Not on list last week
Sponsor: Rep. Ike Skelton (D-MO)
The National Defense Authorization Act specifies the budget and expenditures of the Department of Defense. A version of it is passed every fiscal year to authorize defense spending. This year's bill has been more controversial than past defense authorization bills, however, as a portion of it would pave the way for repeal of "Don't Ask, Don't Tell," the military's current policy prohibiting homosexuals from serving openly in the armed forces. Senate Majority Leader Harry Reid also attached to the bill the Dream Act, which would provide a path to permanent residency to alien minors who graduate from high school. Senate Republicans filibustered the Defense Authorization Act last week, blocking an up-or-down vote and stopping the bill's progress.
8. Blair Holt's Firearm Licensing and Record of Sale Act of 2009 (H.R. 45)
Not on list last week
Sponsor: Rep. Bobby Rush (D-IL)
Named after a Chicago teenager who was gunned down in 2007 on a public bus, this act would tighten gun ownership provisions in the Brady Handgun Violence Prevention Act, a 1993 law that mandated background checks on gun buyers. The Blair Holt act would require anyone possessing a firearm to first obtain a firearm license. The bill was introduced at the start of 2009 and has remained in the Subcommittee on Crime, Terrorism, and Homeland Security since February of that year. [See who in Congress gets the most from gun rights groups.]
9. Health Care and Education Reconciliation Act of 2010 (H.R. 4872)
Previous ranking: 7
Sponsor: Rep. John Spratt (D-SC)
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