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EIW Today - April 11th, 2024

Prism Group's Daily Summary

HOUSE HEARINGS POINT TO SHIFTING TAX POLICY FOCUS… Yesterday’s House Small Business Committee hearing, coupled with a similar discussion today at Ways & Means, suggest lawmakers are looking ahead to the 2025 tax battle, rather than focusing on the bipartisan tax bill that’s currently stalled in the Senate. Meanwhile, Majority Leader Chuck Schumer told reporters this week the legislation does not yet have the votes to clear a 60-vote threshold in the upper chamber, yet another potential setback for the package. 


HOUSE SUBCOMMITTEE HOLDS HEARING ON INDEPENDENT CONTRACTOR BENEFITS... Today, the House Subcommittee on Worker Protections will hold a hearing at 9am on connecting independent contractors to portable benefits. This hearing comes on the heels of the House Education & The Workforce Committee’s passing of a Congressional Review Act which would block the Biden Administration’s recently enacted employer classification rule. 


COMMITTEE ON SMALL BUSINESS HOLDS HEARING EXAMINING IMPACTS OF HIGH TAXES AND A COMPLEX TAX CODE... The full committee explored the ins and outs of the United States’ complexed tax code as we draw near to the standard tax deadline for most small businesses, April 15, 2024. Chairman Williams remarked that the tax code is one the of single most challenging things facing entrepreneurs. 

TRADE IN GOODS EXPECTED TO INCREASE... Following a 1.2% decrease in 2023, trade in global goods is expected to rise throughout 2024, reported the World Trade Organization yesterday. The decrease was attributed to a rise in inflation everywhere, shrinking demand for tangible goods. Although global conflicts have already slowed supply chains, they have not proven to damper consumer demand.  



Thirty-one state legislatures are in regular session.



In New Hampshire, the implementation of a statewide paid family leave program has revolutionized parental leave for city employees, allowing for fathers to have six weeks for newborn bonding. This program has been celebrated as a success by state officials, as it seeks to bolster recruitment and support for working parents. 


California Governor Gavin Newsom (D) announced a new directive requiring state employees to work in the office for at least two days a week. This policy, effective June 17, seeks to balance the shift towards remote work prompted by the COVID-19 pandemic with the need for in-person collaboration. 



The House... convenes today at 9:00 AM ET. The full schedule may be found here. 

The Senate... convenes today at 12:30 PM ET. The full schedule may be found here. 


The House...  

Committee on Ways and Means will hold a hearing TODAY, 4/11 at 2:00 PM on “Expanding on the Success of the 2017 Tax Relief to Help Hardworking Americans.” 


The Senate...  

Check back Monday for possible updates.



  • Rep. Raja Krishnamoorthi (D-IL-8) introduced a bill to authorize the Secretary of Health and Human Services to award grants for career support for a skilled, internationally educated health care workforce. 

  • Sen. Mike Braun (R-IN) introduced a bill to require the Secretary of Energy to conduct a study and submit a report on national resource adequacy. 

  • Rep. Wiley Nickel (D-NC-13) introduced a bill to require States to carry out congressional redistricting in accordance with a redistricting plan developed by an independent redistricting commission. 


The U.S. Department of Labor 

The U.S. Department of Labor awarded $65M in Strengthening Community Colleges grants to expand access to training and skill development for in-demand industries. 

The U.S. Department of the Treasury 

U.S. Department of the Treasury and IRS released proposed guidance on stock buyback excise tax to ensure large corporations pay more of their fair share in taxes.

The U.S. Department of Commerce 

Check back Monday for possible updates.


The U.S. Trade Representative  

Check back Monday for possible updates.


The U.S. Small Business Administration 

Check back Monday for possible updates.  


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