Fresh off the heels of a primary day that left Democrats and Republicans alike struggling to determine next steps in this election year, both parties had much to do as Congress headed into its last week in session before the Memorial Day recess.

From legislation that some label merely a political ploy to garner support in the upcoming election season to a defense authorization bill that the White House and Pentagon have called too full of expenditures, the last week of May saw both chambers scrambling to clear their dockets before the break.

In mid-May the Senate passed the Restoring American Financial Stability Act of 2010.  Last week leaders of both Chambers looked to appoint a conference committee to merge the two bills into one. With the stated goal of having a bill on the president's desk to be signed by July 4, the good news is that the two bills have much in common. Both have provisions that shine a light on complex financial products, as well as measures that would create a new agency in charge of financial protection.

However, some important differences exist, ranging from the extent of oversight to the ability for banks to take on risk. These disparities will need to be reconciled before a new bill can emerge.

Discussions on this merged bill are set to begin when Congress returns from recess with lobbying dollars flowing into the coffers on both sides. From large chambers of commerce to associations of automotive dealers, numerous groups are pushing to amend the bill, striking certain provisions that may affect big business while leaving other loans, such as those of the auto sale variety, out of the picture.

In the meantime,  the House is considering the "tax extenders bill." While House leaders are pointing to the legislation as a necessity, one which extends a host of tax breaks and gives continued relief to the unemployed, opponents point to the measure as simply another example of Washington politicians overstepping their bounds with uncontrolled spending.

In the other chamber, the Senate Armed Services Committee looked to begin marking up its version of the fiscal year 2011 Defense authorization bill. House authorizers approved the initial bill, providing more than $560 billion for the Department of Defense and other defense programs. At the same time, the House Armed Services Committee also approved a 1.9 percent military pay raise, 0.5 percent higher than requested, while adding $485 million for the F-35 Joint Strike Fighter. Both President Obama and Defense Secretary Robert Gates bemoaned the additions, and the president promised to veto if they were added.