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EIW Today - February 14th, 2024

Prism Group's Daily Summary



HOUSE PANEL HEARS FROM FINCEN DIRECTOR... The House Financial Services Committee today will hear testimony from Director Andrea Gacki, who heads up the agency tasked with implementing the Corporate Transparency Act. According to a hearing memo, the panel will discuss draft legislation that would ramp up enforcement of the statute. The new law is expected to touch some 32 million entities this year – the vast majority of which are small businesses – so any changes would have far-reaching effects. 


AI STORING PERSONAL DATA... OpenAI, the start up that hosts ChatGPT, has announced the introduction of new data storage capabilities intended to create individual data profiles on users. In doing so, the chat bot aims to become more of a personalized assistant, catering unique responses to its users based on previous interactions.

 

WORKFORCE LEGISLATION YET TO MOVE IN THE HOUSE... In December, on a 44-1 vote A Stronger Workforce for America Act (ASWA) advanced out of the House Education and the Workforce (E&W) Committee along with the Bipartisan Workforce Pell Act, passing 37-8. Even with overwhelming bipartisan support, leadership has yet to pin down a date for a floor vote on the legislation. Like the Tax Bill, this could mean legislators may consider the legislation under suspension of the rules, bypassing the amendment process but requiring a 2/3 majority to pass. No significant amendments were considered beyond ceremony or adopted during the initial E&W Committee markup.  

 

THE STATE OF THE STATES 


SESSIONS BY THE NUMBERS: 


Forty-three state legislatures are in regular session. 

 

WHAT WE'RE WATCHING: 


Nevada experienced the United States’ highest job growth last year alongside the highest unemployment rate. Acting Labor Secretary Julie Su attributed the phenomenon to inadequate "job infrastructure." Despite a robust national jobs report, Nevada's unique challenges spotlight the need for targeted investment in workforce development to enhance job accessibility. 

 

In order to boost efficiency and reallocate labor to the private sector, Oklahoma's artificial intelligence task force has recommended the implementation of AI to streamline government operations and reduce the workforce by 40%. Governor Kevin Stitt's (R) endorsement of these recommendations reflects a strategic move to adopt technology for better governance. 

 

LAWMAKERS... IN OR OUT? 


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

The Senate...  is out of session today. The full schedule may be found here. 


HAPPENING ON THE HILL 


The House...  

Committee on Ways and Means will hold a hearing TOMORROW, 2/15 at 10:00 AM with IRS Commissioner Daniel Werfel. 

Committee on the Budget will hold a hearing TODAY, 2/14 at 10:00 AM on “The Congressional Budget Office’s Budget and Economic Outlook.” 

Committee on Education and the Workforce will hold a hearing TODAY, 2/14 at 10:15 AM on “Examining the Policies and Priorities of the Wage and Hour Division.” 

Committee on Education and the Workforce will hold a hearing TOMORROW, 2/15 at 10:15 AM on “Protecting American Savers and Retirees from DOL’s Regulatory Overreach.” 

Committee on Energy and Commerce will hold a hearing TODAY, 2/14 at 10:00 AM on “Legislative Proposals to Support Patients and Caregivers.” 

Committee on Financial Services will hold a hearing TODAY, 2/14 at 10:00 AM on “Oversight of the Financial Crimes Enforcement Network (FinCEN) and the Office of Terrorism and Financial Intelligence.” 

Committee on Financial Services will hold a hearing TOMORROW, 2/15 at 10:00 AM on “Lender of Last Resort: Issues with the Fed Discount Window and Emergency Lending.” 

Committee on Financial Services will hold a hearing TOMORROW, 2/15 at 2:00 PM on “Crypto Crime in Context Part II: Examining Approaches to Combat Illicit Activity.” 

Committee on Small Business will hold a hearing TODAY, 2/14 at 10:00 AM on “Burdensome Regulations: Examining the Impact of EPA Regulations on Main Street.” 

Committee on Small Business will hold a hearing TOMORROW, 2/15 at 10:00 AM on “Leveling the Playing Field: Challenges Facing Small Business Contracting.” 

 

The Senate...  

Check back tomorrow for possible updates. 

 

BILLS OF INTEREST 


  • Rep. Zachary Nunn (R-IA-3) introduced a bill to establish an Office of the Community Development Advocate for the Community Development Financial Institutions Fund, and to establish a process for decertification of community development financial institutions. 

  • Rep. Mark DeSaulnier (D-CA-10) introduced a bill to establish an Office of Housing Innovation in the Department of Housing and Urban Development to assist in exploring and developing new approaches for increasing and diversifying the supply of housing and for meeting the challenges of housing shortages, housing affordability, and traffic congestion. 

  • Rep. Diana DeGette (D-CO-1) introduced a bill to amend title XIX of the Social Security Act to ensure adequate consideration of payment rates for multimission hospitals under the Medicaid program. 

 

AT THE AGENCIES 


The US Department of Labor 

The US Department of Labor announced that it will hold the southeast’s largest student construction career event. 

 

The US Department of the Treasury 

The US Department of Labor published a statement from Secretary of the Treasury Janet L. Yellen on the passage of the National Security Supplemental. 

 

The US Department of Commerce 

The US Department of Commerce issued remarks by Commerce Secretary Gina Raimondo at the Virginia Innovation Forum. 

 

The US Trade Representative 

The Office of the US Trade Representative issued remarks by Ambassador Katherine Tai at a meeting of the President’s Interagency Task Force to Monitor and Combat Trafficking in Persons. 

 

The US Small Business Administration 

Check back tomorrow for possible updates. 

 

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