Congress Reaches Deal on NDAA – Threat of Veto

House Armed Services Chairman Adam Smith (D – WA 9) announced this morning that the conference committee has reached a compromise on this important annual spending bill. The National Defense Authorization Act has become the target of bank attacks in recent years, attacking the presence of credit union’s on military bases. This year we have again pushed back on those attacks, in large part due to robust credit union grassroots engagement on the issue and the leadership of Congressman Smith. This year’s NDAA is also likely to include important updates to the Bank Secrecy Act/Anti Money Laundering an important credit union priority.

However, in recent days the President has threatened to veto the bill citing concerns over section 230 of the legislation. This is the Communications Decency Act, which shields technology companies from legal liability for the content posted by their users. Even after the urging from many Congressional Republicans, it looks as though the President is still doubling down on the threat to veto.

The bill still needs to be voted out of Congress, it will then go to the President’s desk, if vetoed it will return to Congress where they can override the veto with a two-thirds vote. This bill must pass by December 31st, and there is plenty of pressure to have it passed into law by December 11th so that Congress can return home and quarantine prior to the Christmas holiday.

Posted in Advocacy on the Move.