Newest Young Guns

At 10 a.m., lawmakers plan to announce that they have more than 100 co-sponsors for Comprehensive Immigration Reform for America’s Security and Prosperity Act, which is now a House subcommittee. The bill is sponsored by Representative Solomon Ortiz, Democrat of Texas, and co-sponsored primarily by members of the Black, Asian, Progressive and Hispanic Congressional caucuses.

Daily President: Mr. Obama will have lunch today with business leaders in the old family dining room. Then, he and Vice President Joseph R. Biden Jr. will meet with Senator Harry Reid, the majority leader from Nevada, in the Oval Office. Later, Mr. Obama will welcome the 2009 women’s professional soccer champions, Sky Blue F.C., to the White House. And, at 6:15 p.m., Mr. Obama will sign the Iran sanctions bill.

Newest Young Guns: The National Republican Congressional Committee has named 16 new Republicans to their “Young Guns” list, a group — now made up of 39 promising House candidates — that the party will support financially and strategically this November. The president’s home state, Illinois, is the most densely populated with challengers deemed the most likely to oust Democrats.

Economic Indicators: The Labor Department releases its weekly report on jobless claims at 8:30 a.m. And, at 10 a.m., the Census Bureau will release a report on construction spending and the Institute for Supply Management puts out its report on manufacturing.

On the Hill: Of course, the Senate Judiciary Committee will continue questioning Mr. Obama’s Supreme Court nominee, Solicitor General Elena Kagan. Republicans have not been able to knock her off stride, and some conceded that her confirmation is all but certain, report The Times’s Charlie Savage and Sheryl Gay Stolberg.

“She has been, in my view, a witness who has manifested a deep knowledge of the law, and she’s certainly very adept at describing what she thinks about the law,” Senator Jon Kyl of Arizona, the No. 2 Republican in the Senate told reporters. “By the same token, I think she’s been very adept at avoiding very specific questions that could result in criticism of her point of view.

House Democrats will try for a floor vote today on the extension of unemployment benefits.

Senators will spend the Fourth of July recess reviewing the language of the massive overhaul of the financial regulatory system approved by the House Wednesday with just three Republican votes. Ultimately, the Senate is expected to approve the package, fulfilling one of Mr. Obama’s major legislative goals.

In order to get the regulatory legislation across the finish line and to insure its survival in the Senate, Congressional Democrats proposed phasing out the Troubled Asset Relief Program, or T.A.R.P., the deeply unpopular bailout fund. Ending the program would yield $11 billion in taxpayer savings, according to the Congressional Budget Office.

Executives from A.I.G and Goldman Sachs Group will face the Financial Crisis Inquiry Commission at 9 a.m. today during an investigation of how the derivatives market factored into the financial crisis.

The Senate Environment and Public Works Committee, approved a bill Wednesday that would lift the $75 liability cap for damages from oil spills, introduced by Senator Robert Menendez, Democrat of New Jersey, and fiercely opposed by many Republicans. The full Senate will now take up the bill.

Honoring Byrd: Mr. Biden will attend a service for Senator Robert C. Byrd, Democrat of West Virginia, at the Capitol. Mr. Byrd, who died Monday at age 92, will lie in repose for six hours in the Senate chamber, his casket resting on the Lincoln Catafalque, a bier that was built for the coffin of Abraham Lincoln.

Convention Finalists: The Democratic National Committee has narrowed down the hosts for their 2012 presidential nominating convention to four cities: St. Louis, Mo.; Charlotte, N.C.; Minneapolis; and Cleveland.

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