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EIW Today - April 17th, 2024

Prism Group's Daily Summary



TREASURY RESPONDS TO CTA RULING… Yesterday, the Treasury Department filed its appeal brief seeking to overturn a previous ruling that found the Corporate Transparency Act as unconstitutional. According to the brief, the government argues that Congress has broad authority to enact economic regulations, the act permissibly effectuates prohibitions on financial crime, and the district court’s approach misunderstands governing precedent and the statute itself.  

 

SMALL BUSINESS SUBCOMMITTEE ON ECONOMIC GROWTH, TAX, AND CAPITAL ACCESS HOLDS HEARING: REVIEWING THE SBIC AND SBIR PROGRAMS’ IMPACT ON SMALL BUSINESSES... These two successful programs that combine public and private partnerships vastly need improvement to secure their future and better assist entrepreneurs across the United States. The House Small Business Subcommittee on Economic Growth took the time to ask important questions about how to make these programs better. 

 

ACTING SECRETARY OF LABOR SU TO TESTIFY ON FY25 BUDGET REQUEST… Today, the House Appropriations Subcommittee on Labor, Health and Human Services, and Education will hold a hearing examining the Department of Labor’s (DOL) FY25 budget request. Acting Secretary of Labor Su is expected to touch on a myriad of topics from workforce development to worker classifications and more. You can read her opening testimony here


THE STATE OF THE STATES 


SESSIONS BY THE NUMBERS: 


Thirty-one state legislatures are in regular session.

 

WHAT WE'RE WATCHING: 


The Louisiana House Retirement Committee has advanced a bill proposed by Rep. Barbara Freiberg, which would provide higher education employees the option to switch from a "portable" retirement plan to a more lucrative defined benefit plan. The move seeks to combat brain drain and retain experienced faculty and staff by offering better retirement security. 

 

According to The Wall Street Journal and analysis by Moody's Analytics, Salt Lake City, Utah had the hottest U.S. job market in 2023, driven by robust growth in tech and finance sectors. The city has attracted workers from across the country, benefiting from a highly educated workforce and diverse economic growth. 

 

LAWMAKERS... IN OR OUT? 


The House... convenes today at 10:00 AM ET. The full schedule may be found here. 

The Senate... convenes today at 11:00 AM ET. The full schedule may be found here. 


HAPPENING ON THE HILL 


The House...  

Committee on Small Business will hold a hearing TODAY, 4/17 at 9:45AM on "A full committee markup on seven bills.” 

Committee on Ways and Means will hold a hearing TODAY, 4/17 at 10:00 AM on “A markup on six bills.” 

Committee on Energy & Commerce, Innovation, Data, And Commerce Subcommittee will hold a hearing TODAY, 4/17 at 10:00 AM on "Legislative Solutions to Protect Kids Online and Ensure Americans’ Data Privacy Rights." 

Committee on Energy & Commerce, Health Subcommittee will hold a hearing TODAY, 4/17 at 2:00 PM on “Fiscal Year 2025 Department of Health and Human Services Budget.”  

 

The Senate...  

Committee on Health, Education, Labor & Pensions will hold a hearing TODAY, 4/17 at 2:30 PM on “Feeding a Healthier America: Current Efforts and Potential Opportunities for Food is Medicine.” 

Committee on Finance will hold a hearing TODAY, 4/17 at 10:00 AM on "The President’s 2024 Trade Policy Agenda.” 

Committee on Judiciary will hold a hearing TODAY, 4/17 at 10:00 AM on "Nomination's.” 

 

BILLS OF INTEREST 


  • Rep. Bonnie Watson Coleman (D-NJ-12) introduced a bill to amend the Internal Revenue Code of 1986 to require payroll tax withholding on independent contractors of certain large businesses.

  • Rep. Gregory Steube (R-FL-17) introduced a bill to modify designations of beneficiary countries under the Generalized System of Preferences. 

  • Rep. Christopher Smith (R-NJ-4) introduced a bill to ensure that goods made using or containing cobalt extracted or processed with the use of child or forced labor in the Democratic Republic of the Congo do not enter the United States market. 

AT THE AGENCIES 


The U.S. Department of Labor 

The U.S. Department of Labor published remarks by Acting Secretary Su announcing a final rule to reduce miners’ exposure to silica dust and improve the health of the nation’s miners. 


The U.S. Department of the Treasury 

The U.S. Department of the Treasury issued a readout of Secretary of the Treasury Janet L. Yellen’s meeting with Asian Development Bank President Masatsugu Asakawa. 

 

The U.S. Department of Commerce 

The U.S. Department of Commerce announced that Secretary of Commerce Gina Raimondo will travel to Kenya to highlight the important bilateral commercial relationship, burgeoning digital opportunities to advance U.S. and Kenyan societies and economies.

 

The U.S. Trade Representative  

The U.S. Trade Representative Office released testimony of Ambassador Katherine Tai before the House Ways and Means Committee on the President’s 2024 Trade Policy Agenda. 

 

The U.S. Small Business Administration 

Check back tomorrow for possible updates.  

 

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