Senate Looks To Potentially Work Through the Weekend
To End the Government Shutdown
RISE Committee Still Has Work To Do
To Achieve Consensus on OB3 Student Loan Revisions

Overview
As we enter the second to the last day of the final session of the RISE Committee’s negotiations and the thirty-seventh day of the government shutdown there is room for optimism. Here’s why.

Government Shutdown Day 37
Talks between Senate Republicans and Democrats on an agreement that would include bipartisan support for continuing resolution (CR) to reopen the federal government, votes on a package of fiscal year 2026 appropriations bills (“minibus”) and a vote on Affordable Care Act continue. A group of eight Democratic Senators led by Senators Jeanne Shaheen (NH) and Jon Ossoff (GA) and including Sens. Gary Peters (MI), Mark Kelly (AZ), Maggie Hassan (NH), Peter Welch (VT.), Tammy Baldwin (WI) and Elissa Slotkin (MI) are attempting to work out the details in advance of a key Democratic caucus meeting today.

Heading into the caucus the group of eight have their work cut out for them to potentially persuade rank and file members within their party to support the agreement. The reason it may be a tough sell is because other Senators within the party, emboldened by Tuesday’s election results, are urging their colleagues and Senate Minority Leader Chuck Schumer NOT to support a CR unless very clear details on the actions and legislation – as well as timelines for votes – are committed to. This group including Senators Richard Blumenthal (CT), Elizabeth Warren (MA), Chris Murphy (CT) and Bernie Sanders (VT).

One of the key details that has to be determined is the deadline for the CR. As noted yesterday, the current House CR would only provide for a two week period to accomplish all of the terms of the agreement. HOWEVER, there are reports that the Senators will seek to change the deadline until sometime in the future. Rumors persist that the Senators working on the compromise will propose a new deadline expiring in January or February 2026. This extension would require the proposal to go back to the House for approval, which may or may not be yet another hurdle to overcome.

Going into today the bottom line is that the negotiations continue, but so does the shutdown. But it does seem like there is a path to end it. We shall see how today and tomorrow go. A key indicator of how close Congress is will be reflected in the reporting on the outcome of today’s Democratic caucus luncheon and signals from Senate Majority Leader Thune regarding whether or not the Senate remains in session throughout the weekend, announce the need to set aside the planned recess next week or come up with some other decision.

RISE Committee Federal Negotiated Rulemaking
Much of yesterday’s negotiations focused on key sticking points on efforts to address the “Definitions” discussion draft and the key definitions regarding the list of professional student programs and less than full-time students. As you will recall, the institutional community has concerns with the limited number of programs that are included under the definition of professional student programs. Throughout the course of the day many negotiations, both at the table and in caucuses, worked to address the issue. At the conclusion of the day, despite major revisions to the definitions regarding expansion of the list but relating the programs to CIP codes as recommended by the Non-Federal negotiators. The issue remains open, as do other issues, but a vote on the definitions while not fully supported, remains open so that the Non-Federal negotiators could discuss the new CIP regime with their constituencies. Today will be further discussions on the definitions, issues related to annual and
aggregate loan limits and proration for less than full-time students, and more.

What’s Next
While we will continue to monitor the activity on Capitol Hill, today will be a critical day in the RISE Committee negotiations and we will be monitoring it all and providing a summary of – hopefully key ”temperature” checks taking place today.