President Joe Biden’s cabinet members will testify this week before various House and Senate committees on the administration’s fiscal year 2024 budget proposals for their respective agencies. On Wednesday, Treasury Secretary Janet Yellen will testify before the Senate Appropriations Committee, and Environmental Protection Agency Administrator Michael Regan will testify before the Senate Environment and Public Works Committee. On Thursday, Office of Management and Budget Director Shalanda Young will testify on Biden's budget before the House Budget Committee, and Transportation Secretary Pete Buttigieg will testify will testify before the Senate Appropriations Committee on the budget proposal for his department. Secretary of State Antony Blinken, Health and Human Services Secretary Xavier Becerra, and Defense Secretary Lloyd Austin will also be testifying before various subcommittees.

With the collapse of Silicon Valley Bank (SVB) and Signature Bank, Congress will also focus on the failure of bank regulators to take timely action despite warning signs and documented concerns with SVB’s operations. House Speaker Kevin McCarthy stated that the House Financial Services Committee will hold a series of hearings to determine what happened in connection with the recent bank failures and the regulatory oversight of the banks.