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EIW Today - April 18th, 2024

Prism Group's Daily Summary



BETTER LATE THAN NEVER… With Tax Day now in the rearview mirror, many see it as increasingly unlikely that the Tax Relief for American Families and Workers Act will ever make its way out of the Senate. However, that sentiment is not shared by some senators – including Sens. Kyrsten Sinema (I-AZ), Josh Hawley (R-MO), and Todd Young (R-IN) – who Punchbowl News reports are quietly working to secure the votes needed to advance the package. The bill has been stalled in the Senate since passing the House at the end of January.  

 

TRADE MARKUP IN WAYS AND MEANS... Wednesday's extensive markup of trade legislation by the House Ways and Means Committee highlighted the challenges facing bipartisan cooperation on trade policy this year. Although Democrats stood against five of the six bills in their current language, they remain steadfast in their stance on reauthorizing Trade Adjustment Assistance (TAA), crucial for aiding workers affected by international trade. However, the GOP is unlikely to incorporate TAA into the trade bill package discussed on Wednesday.


JCPENNEY EXPECTS TO RETURN HALF A BILLION DOLLARS TO CUSTOMERS... JCPenney has launched the CashPass rewards and credit card program with the goal of returning $500 million to customers in 2024 by making rewards more accessible. The rollout follows the department store retailer's announcement last year that it will invest $1 billion through 2025 to boost sales by remodeling stores, upgrading the online shopping platform and making supply chain improvements. 


THE STATE OF THE STATES 


SESSIONS BY THE NUMBERS: 


Thirty state legislatures are in regular session.

 

WHAT WE'RE WATCHING: 


Morna Foy, the outgoing president of the Wisconsin Technical College System, recommended increasing child care support and financial aid for students to address workforce challenges in Wisconsin. In her farewell interviews, Foy emphasized the need for improved state support to retain high-caliber professionals and combat brain drain. 

 

In a last-minute agreement, Virginia's General Assembly and Governor Glenn Youngkin (R) have decided to reset budget negotiations, pushing back the timeline to May 13. This decision would potentially avoid a government shutdown by allowing more time to forge a consensus on the state's fiscal plan. 

 

LAWMAKERS... IN OR OUT? 


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

The Senate... convenes today at 12:00 PM ET. The full schedule may be found here. 


HAPPENING ON THE HILL 


The House...  

Committee on Natural Resources will hold a hearing TODAY, 4/18 at 9:00 AM on “Assessing Solutions to Secure America's Offshore Energy Future." 

 

The Senate...  

Check back on Monday, 4/29 for possible updates.

 

BILLS OF INTEREST 


  • Rep. David Kustoff (R-TN-8) introduced a bill to modernize the formulas for allocation of Community Development Block Grant Program grants for entitlement communities to more effectively target such amounts for community development needs. 

  • Rep. Scott Fitzgerald (R-WI-5) introduced a bill to amend Public Law 86-272 to expand the prohibition of State taxation relating to certain solicitation of orders

  • Rep. Alma Adams (D-NC-12) introduced a bill to provide for the long-term improvement of minority-serving institutions. 

AT THE AGENCIES 


The U.S. Department of Labor 

The U.S. Department of Labor announced that it will host an online forum from May 8-9 for employers, workers, and other stakeholders on compliance with federal workplace regulations 


The U.S. Department of the Treasury 

The U.S. Department of the Treasury published remarks by Secretary of the Treasury Janet L. Yellen following a bilateral meeting with Prime Minister Denys Shmyhal of Ukraine. 

 

The U.S. Department of Commerce 

The U.S. Department of Commerce issued a readout of Secretary Raimondo’s meeting with Ukrainian Prime Minister Denys Shmyhal. 

 

The U.S. Trade Representative  

The U.S. Trade Representative Office initiated a Section 301 investigation of China’s targeting of the maritime, logistics, and shipbuilding sectors for dominance. 

 

The U.S. Small Business Administration 

Check back Monday, 4/29 for possible updates.  

 

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