Congress
House Republicans shoot down possible housing-crypto trade with Senate
House Republicans are rejecting the prospect of accepting a Senate housing package in exchange for the upper chamber including a slate of community bank deregulatory bills in pending cryptocurrency legislation, dashing hopes that the trade could resolve a housing bill standoff between the two bodies.
“So our good stuff for their bad stuff — not sure I buy that,” said Rep. Bill Huizenga (R-Mich.), who serves as vice chair of the House Financial Services Committee.
Senate Banking Republicans discussed the possible trade at a closed-door meeting last week. Sen. Katie Britt, an Alabama Republican who chairs a Senate Banking subcommittee on housing, helped pitch the idea to other GOP senators. But House lawmakers say adding their bipartisan banking bills to the crypto market structure measure is not enough to get them to swallow a Senate-approved housing affordability package that they hope to amend.
“There’s other things in the housing bill that we need to look at,” said Rep. Mike Flood (R-Neb.), who chairs a House Financial Services subcommittee on housing.
A spokesperson for Senate Banking Chair Tim Scott did not immediately respond to a request for comment. Scott and Senate Banking ranking member Elizabeth Warren (D-Mass.) are pushing the House to accept their bill as-is.
The House included the community bank deregulatory measures in a housing bill it passed in February, but the provisions were left out of the housing measure that the Senate passed this month. The banking bills, which supporters say will increase access to mortgages, are a priority for House Republicans, but they say they have an array of outstanding issues with the Senate’s housing bill that need to be addressed.
“This needs to be part of a conversation,” said Rep. Zach Nunn (R-Iowa), who sits on House Financial Services. “Simply throwing something over from the Senate and expecting everybody to get on board with a half-baked idea doesn’t get us to where we need to be.”
Rep. Andy Barr, a senior Kentucky Republican on House Financial Services who is running for Senate, indicated he likes the idea of tucking bank deregulatory measures into the crypto legislation. But, he said, “we want some of our housing ideas included, too.”
“I don’t know why they wouldn’t entertain some of our bipartisan housing ideas,” he said.
Katherine Hapgood contributed to this report.
President Donald Trump nominated Rep. Wesley Hunt (R-Texas) to be the next U.S. ambassador to Saudi Arabia on Monday, part of a spate of nominations sent to the Senate less than two months before the midterms decides the fate of the GOP’s control of the chamber.
Hunt, one of the first Black Republicans to represent Texas in the House, was one of three Republican candidates locked in a fierce battle for a Senate seat in Texas earlier this year.
Trump held off on endorsing a candidate in the initial primary but backed state Attorney General Ken Paxton in the runoff. Hunt pitched himself as a staunch Trump ally in that race and quickly endorsed Paxton — the eventual winner — once Trump signaled his favorite.
The ambassadorship was last held by Michael Ratney, who was nominated by former President Joe Biden and served in the position until January 2025.
Trump has long made relations with Saudi Arabia a priority, welcoming Crown Prince Mohammed bin Salman to the White House in 2025 and striking deals with the kingdom. But the nomination comes as tensions between Saudi Arabia and the Iran-backed Houthis has reignited and the war in Iran has caused disruptions in its ability to export oil.
The other 40 nominations sent Monday to the Senate include some that Trump had previously announced on social media, including Heidi Overton as the next commissioner of the Food and Drug Administration and Hung Cao as the next Navy secretary.
House Minority Leader Hakeem Jeffries called Monday for immediate congressional action to regulate artificial intelligence — his most urgent call to date for guardrails on the rapidly advancing technology amid warnings it could eradicate humanity if left unchecked.
“The explosive growth of artificial intelligence and the challenges that are therein presented — that’s not a hoax,” Jeffries said at his weekly news conference. “It’s very real, despite what Donald Trump has to say about that issue as well, and it requires decisive congressional action immediately, in a manner consistent with what some of the leading AI voices in the country are now saying needs to happen, as it relates to slowing things down to protect the health, the safety and the well-being of the American people.”
Jeffries’ call for regulation comes days after an ex-Anthropic researcher, Jacob Coxon, warned that AI could “kill us all,” prompting calls from the company’s CEO Dario Amodei, OpenAI CEO Sam Altman and xAI CEO Elon Musk for an AI development slowdown. Trump has responded by downplaying the risks and doubling down in his support for accelerating AI breakthroughs to compete with China.
Jeffries urged Speaker Mike Johnson Monday to keep Congress in session “until something is done decisively to protect the safety and the well-being of the American people, in the face of growing concerns being raised by experts within the artificial intelligence industry itself.”
Johnson canceled the last two weeks of session before the midterms, meaning that the House is slated to leave Capitol Hill on Thursday and not return until Nov. 9. The speaker has given no indication he will revisit this plan and has remained noncommittal on whether the chamber will consider AI safety legislation ahead of the elections, if at all.
Jeffries also said the Democrat-only AI commission he convened this Congress could begin rolling out its policy recommendations soon, noting he plans to meet with the group’s three co-chairs this week. And he blamed Johnson for declining to reconstitute a bipartisan AI task force that would have allowed members of both parties to work together on the issue.
“We want to ensure that American entrepreneurs and companies can continue to lead in this space and not be overcome by the Chinese Communist Party,” Jeffries said of what the Democratic-led commission has been working on. “But on the other hand, we’ve got to ensure that the American people actually experience the benefits of artificial intelligence without being subjected to the very real, and very grave and very dangerous downsides.”
But while Jeffries is positioning Democrats as leaders on AI policy — now and in the next Congress — he declined to endorse a proposal from some of his colleagues to create a select AI committee if the party wins the majority in November.
“We’re focused on the substance, not the process,” he said, adding that any select committee discussions would take place after election day.
Jeffries did endorse the Ratepayer Protection Act — a bipartisan bill intended to shield Americans from energy costs associated with the data center boom — which is slated for a vote Tuesday.
“It’s a step forward,” he said. “More clearly needs to be done.”
Senate Majority Leader John Thune said Monday he sees a role for Congress in regulating artificial intelligence — albeit with a “light touch.”
Thune’s comments, made to reporters in the Capitol as President Donald Trump publicly railed against regulating frontier AI models, are the first he’s made since industry insiders sounded alarm bells about the technology’s potentially catastrophic impacts on humanity.
“It needs to strike a balance, light touch. You don’t want to stifle innovation, but I think you also want to make sure that the more advanced threats can be mitigated, and there’s a capability in place to do that,” Thune said.
He added that he believed Congress could put “guardrails around those types of more consequential threats without in any way harming our ability to stay ahead in the AI race.”
Thune introduced an AI safety bill with Sen. Amy Klobuchar (D-Minn.) in 2023 and is negotiating a revised version that he said Monday “reflects the approach” he is advocating. Thune said he spoke with Klobuchar over the weekend about the revised bill, which is also being negotiated with Senate Commerce Chair Ted Cruz (R-Texas), and expressed hopes it would be finalized “hopefully soon” and that they can “get a path forward for it.”
Cruz previously told Blue Light News that he could hold a committee vote on AI legislation before the chamber adjourns ahead of the midterm elections — perhaps as soon as the end of next week.
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