EIW Today - February 10th, 2025

Feb 10

Prism Group's Daily Summary

HOUSE AND SENATE RACE TO BE FIRST ON RECONCILIATION... The internal debate within the Republican party over their reconciliation bill strategy may be settled this week. That’s because Senate Budget Chair Lindsey Graham (R-SC) promised a markup of a budget resolution draft that includes border security and energy provisions, part of the Seante’s preferred two-bill strategy. Not to be outdone, House Speaker Mike Johnson (R-LA) announced the chamber would take up its own budget bill early in the week which, in keeping with the House’s preference for a single reconciliation bill, is expected to include a tax title once unveiled.

TRUMP LIKELY TO ANNOUNCE NEW TARIFFS ON STEEL & ALUMINUM... Today, President Trump is anticipated to announce a 25% tariff on all steel and aluminum imports and will later announce reciprocal tariffs targeting nations perceived to have a trade imbalance with the United States. After carving out steel and aluminum tariffs during President Trump’s first term and delaying a 25% general tariff, Canada will be most impacted. As the largest exporter of steel and aluminum to the United States, they represent more than 20% and 60% of imports, respectively.

FEDERAL WORKFORCE REDUCTION SPARKS LEGAL BATTLES... The Trump administration's push to reduce the federal workforce has sparked legal and political battles, with a key deadline for federal workers to accept buyouts looming. Labor unions argue the program is unlawful and arbitrary, while the administration defends it as a humane effort to address government bloat. Meanwhile, tensions rise as USAID employees face uncertainty over potential dismantling, and lawmakers debate the legality and fairness of the administration's actions. This controversy highlights broader constitutional and fiscal challenges, as Republicans struggle to reconcile Trump's policy goals with budgetary constraints.

THE STATE OF THE STATES

SESSIONS BY THE NUMBERS:

Forty-seven states are in regular session.

WHAT WE'RE WATCHING:

Ohio Gov. Mike DeWine (R) has ordered state employees who have been working remotely since the COVID pandemic to return to the office by March 17, with limited exceptions. The decision has been praised by business leaders, who believe the decision will boost downtown economies by increasing foot traffic and supporting local businesses.

Idaho lawmakers approved pay raises for about 25,000 state employees after weeks of debate, granting increases between $1.05 and $1.55 per hour. There will be additional boosts for IT, engineering, law enforcement, and healthcare workers. While some legislators criticized the plan as either too rigid or insufficient, supporters said it balances merit-based rewards with inflation relief.

LAWMAKERS... IN OR OUT?

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

The Senate... convenes today at 3:00 PM. The full schedule may be found here.

HAPPENING ON THE HILL

The House...

Committee on Appropriations will hold a hearing Tuesday, 2/11 at 10:00 AM entitled “MEXICO’S WATER TREATY VIOLATIONS AND THE IMPACT ON AMERICANS.”

Ways and Means Committee Oversight Subcommittee will hold a hearing Tuesday, 2/11 at 10:00 AM entitled “Hearing on IRS Return on Investment and the Need for Modernization.”

Ways and Means Committee Health Subcommittee will hold a hearing Tuesday, 2/11 at 2:00 PM entitled “Modernizing American Health Care: Creating Healthy Options and Better Incentives.”

Committee on Financial Services Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee will hold a hearing Tuesday, 2/11 at 2:30 PM entitled “A Golden Age of Digital Assets: Charting a Path Forward.”

Committee on Financial Services will hold a hearing Wednesday, 2/12 at 10:00 AM entitled “The Federal Reserve’s Semi-Annual Monetary Policy Report.”

Committee on Appropriations will hold a hearing Wednesday, 2/12 at 10:00 AM entitled “CAREER READY STUDENTS: INNOVATIONS FROM COMMUNITY COLLEGES AND THE PRIVATE SECTOR.”

Energy and Commerce Committee Commerce, Manufacturing, and Trade Subcommittee will hold a hearing Wednesday, 2/12 at 10:00 AM entitled “AI in Manufacturing Subcommittee: "Securing American Leadership in Manufacturing and the Next Generation of Technologies."

The Senate...

Committee on Banking, Housing and Urban Affairs will hold a hearing Tuesday, 2/11 at 10:00 AM entitled “The Semiannual Monetary Policy Report to the Congress.”

Committee on Finance will hold an Executive Session Tuesday, 2/11 at 11:30 AM entitled “Open Executive Session to Consider Favorably Reporting the Nomination of Jamieson Greer, of Maryland, to be United States Trade Representative, with the rank of Ambassador Extraordinary and Plenipotentiary.”

Small Business and Entrepreneurship Committee will hold a business meeting Wednesday, 2/12 at 9:30 AM entitled “Business Meeting to consider pending business of the committee.”

Committee on Health, Education, Labor and Pensions will hold a hearing Wednesday, 2/12 at 10:00 AM entitled “Nomination of Lori M. Chavez-DeRemer to serve as Secretary of Labor.”

Committee on Judiciary will hold a hearing Wednesday, 2/12 at 10:15 AM entitled “Nominations.”

Committee on Judiciary will hold an Executive business meeting Thursday, 2/13 at 9:00 AM entitled “Executive Business Meeting.”

Committee on Health, Education, Labor and Pensions will hold a hearing Thursday, 2/13 at 10:00 AM entitled “Nomination of Linda McMahon to serve as Secretary of Education.”

BILLS OF INTEREST