Congressional Calendar July 21, 2010

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After voting for cloture to end debate Tuesday, the Senate is expected to have a final passage vote on an extension of unemployment insurance benefits for those affected by the economic downturn. This newest extension will fund the program through the end of November.

Sen. Mary Landrieu, D-La., and other Democratic senators will hold a press conference at 10:00 a.m. ET to press for legislation that would extend small business tax breaks and provide cheap capital for businesses that want to expand. The pending measure is the next item on the Senate’s legislative calendar, but its prospects for passage are still unclear.

The Dodd-Frank financial overhaul bill becomes law after President Obama signs the massive legislation during a ceremony at the Ronald Reagan Building at 11:30 a.m. ET.

Federal Reserve Chairman Ben Bernanke delivers the central bank’s Semiannual Monetary Policy Report to Congress at 2:00 p.m. ET.

The Tea Party has its first official presence on Capitol Hill. The Tea Party Caucus holds its first meeting at 9:00 a.m, ET, with a media avail to follow at 10:00 a.m, ET. Caucus members say they need to bring their message of deficit reduction and limited government to Washington, but critics say trying to co-opt the Tea Party spirit in the home of the establishment will backfire.

BP Compensation Czar Kenneth Feinberg discusses the ongoing response to the Gulf of Mexico oil spill with the House Judiciary Committee. Feinberg is currently overseeing BP’s $20 billion escrow fund, which they established to help local residents affected by the economic and environmental disaster.

We’ll be covering these stories and more from all angles, so be sure to stay with Fox News for all the latest.