From CQ: (subscription required) The Senate Rules Committee and the Governmental Affairs Committee have both advanced bills on the topic (S 2349, S 2128). On Monday, members adopted by unanimous consent a GOP leadership-backed substitute amendment that combines the two bills for floor action. Trent Lott, R-Miss., is the point man ensured with ushering the legislation to passage. He has promised to achieve that goal within three days.

From National Low Income Housing's Memo to Members: On February 16, Senator Barack Obama (D-IL) introduced S. 2319, the Hurricane Recovery Act of 2006. The bill includes, among other things, language that would establish an Affordable Housing Fund with a percentage of Fannie Mae and Freddie Mac’s profits.

We are hearing that the House will be re-considering H.R. 1606, the Online Freedom of Speech Act, introduced by Rep. Hensarling, sometime next week. The bill would affirm the FEC's original decision to exclude the Internet from the definition of "public communications" under campaign finance law. The result would be to exclude the Internet from issues of soft money and illegal coordination. Congressional action would also point the FEC in the direction of a similar rulemaking. Daily Kos has more.