Prism Group's Daily Summary
TAX COMPETITIVENESS AND INTERSTATE MIGRATION...
A new study published by the Tax Foundation seeks to answer whether tax competitiveness affects various demographic and socioeconomic outcomes. With the caveat that correlation is not causation, the report finds there is a close relationship between states with well-structured tax codes and those experiencing net inbound migration.
TIKTOK SAYS BAN WOULD COST U.S. SMALL BUSINESSES, CREATORS $1.3 BILLION IN FIRST MONTH... TikTok in a court filing Monday warned that U.S. small businesses and social media creators would lose $1.3 billion in revenue and earnings in just one month if the popular app is effectively shut down in the United States on Jan. 19, under provisions of a law targeting national security concerns about its China-based parent company. If TikTok is effectively shut down in the United States in January American small businesses alone would lose more than $1 billion in revenue — even if the prohibitions are lifted after only a month.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Seven states are in regular session.
WHAT WE'RE WATCHING:
Facing a projected $10-12 billion budget deficit, Washington Gov. Jay Inslee (D) has ordered a freeze on most non-essential hiring, contracts, purchasing, and travel for state agencies. He has also tasked leaders to propose cost-saving measures to maintain essential services ahead of his 2025-27 budget proposal.
Gov. Henry McMaster (R) has nominated Rebecca Battle-Bryant to lead South Carolina’s new Office of Statewide Workforce Development. The role’s duties include ensuring job training aligns with market demands and workforce development efforts, as the high-demand industries continue to grow in the state.
LAWMAKERS... IN OR OUT?
The House... convenes today at 10:00 AM. The full schedule may be found here.
The Senate... convenes today at 10:00 AM. The full schedule may be found here.
HAPPENING ON THE HILL
The House...
Committee on Appropriations will hold a hearing, TODAY, 12/10 at 10:00 AM entitled “BUDGET AND OVERSIGHT HEARING--DISTRICT OF COLUMBIA BUDGET FOR FISCAL YEAR 2025.”
The Senate...
Committee on Banking, Housing and Urban Affairs will hold a hearing on Wednesday, 12/11 at 9:45 AM entitled “Protecting Workers’ Money and Fighting for the Dignity of Work."
Committee on Judiciary will hold a hearing, TODAY, 12/10 at 10:00 AM entitled “How Mass Deportations Will Separate American Families, Harm Our Armed Forces, and Devastate Our Economy”.
Committee on Judiciary will hold a hearing on Thursday, 12/12 at 10:00 AM entitled “Executive Business Meeting."
BILLS OF INTEREST
Check back tomorrow for a possible update.
AT THE AGENCIES
The U.S. Department of Labor
The U.S. Department of Labor announced it will hold its final meeting of the 2024 Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council, on Dec. 12-13 at the department’s headquarters in Washington.
The U.S. Department of the Treasury
Check back tomorrow for possible updates.
The U.S. Department of Commerce
Check back tomorrow for possible updates.
The U.S. Trade Representative
USTR announces entry into force of first agreement under U.S.-Taiwan Initiative on 21st Century Trade.
The U.S. Small Business Administration
Check back tomorrow for possible updates.
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