Prism Group's Daily Summary
THE CTA SAGA CONTINUES...
A district court order issued last month in Smith v Yellen – which blocked the Corporate Transparency Act’s from taking effect – was stayed this week in a subsequent ruling. As a result, the CTA’s filing requirements will resume in 30 days, in accordance with guidance posted by the Treasury Department’s Financial Crimes Enforcement Network. Meanwhile, legislation delaying the CTA’s filing deadline by one year sailed through the House last week and was just introduced in the Senate, though its prospects in the upper chamber remain unclear.
MAIN STREET TO MARKETPLACE: HOW SMALL BUSINESSES ARE SELLING ONLINE... The Small Business Roundtable (SBR), a coalition of leading small business and entrepreneurship organizations, today announced the release of its latest research report, Main Street to Marketplace: How Small Businesses Are Selling Online. The research, drawing from survey data of over 580 small business owners, highlights how online marketplaces influence business operations, creating both new opportunities and challenges, while also examining how SMEs are leveraging digital tools to expand their reach, respond to evolving consumer behavior, and navigate an increasingly complex environment. Read the full report here.
SENATE MOVES FORWARD ON RECONCILIATION STRATEGY WHILE HOUSE IS OUT... The Senate yesterday took a key procedural step on its budget blueprint, setting the table for a so-called “vote-a-rama" later this week. The move is part of the Senate’s two-bill strategy which involves passage of a border security, defense, and energy package early in the year, followed by a broad tax package later in 2025. The House favors a single-bill strategy and passed that framework out of the Budget Committee lats week.
WHITE HOUSE CHANGES FEDERAL CONTRACTING RULES TO ELIMINATE DEI CONSIDERATIONS... The Trump administration has instructed federal agencies to stop considering companies' diversity, equity, and inclusion (DEI) practices when deciding on federal contracts, reversing a Biden-era policy. The General Services Administration (GSA) also ended an initiative to replace plastic straws with paper alternatives, aligning with a recent executive order by President Trump. These changes are part of a broader overhaul of federal procurement practices aimed at simplifying the complex and lengthy acquisition regulations. However, it remains uncertain how far these reforms can go without Congressional approval, as some contracting preferences are mandated by law.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Forty-eight states are in regular session.
WHAT WE'RE WATCHING:
Illinois Gov. JB Pritzker (D) is expected to use his State of the State address today to pitch legislation that would establish a daily limit for transactions on crypto ATMs and cap fees to “prevent predatory charges,” according to his administration.
California lawmakers will consider legislation to protect electric utility customers from paying higher prices due to energy demands from large data centers. One measure would require data centers to disclose their energy use. Another would require utility regulators to devise an electricity rate structure specifically for data centers.
LAWMAKERS... IN OR OUT?
The House... is currently not in session.
The Senate... convenes today at 10:00 AM. The full schedule may be found here.
HAPPENING ON THE HILL
The House...
Check back tomorrow for possible updates.
The Senate...
Committee on Health, Education, Labor and Pensions will hold a hearing TODAY, 2/19 at 10:00 AM entitled “Nomination of Lori M. Chavez-DeRemer to serve as Secretary of Labor.”
Committee on Judiciary will hold a hearing TODAY, 2/19 at 10:15 AM entitled “Children’s Safety in the Digital Era: Strengthening Protections and Addressing Legal Gaps.”
Committee on Health, Education, Labor and Pensions will hold a hearing Thursday, 2/12 at 10:00 AM entitled “Nomination.”
Committee on Judiciary will hold an executive business meeting Thursday, 2/20 at 10:15 AM entitled “Executive Business Meeting.”
BILLS OF INTEREST
H.R.479 - The "Healthy SNAP Act of 2025" (H.R. 479) seeks to amend the Food and Nutrition Act of 2008 by excluding certain items like alcoholic beverages, tobacco, and sugary snacks from SNAP purchases, while mandating the Secretary of Agriculture to designate eligible foods that address nutritional deficiencies and promote public health. The bill also allows for the inclusion of prepared meals and culturally relevant food substitutions, provided they meet nutritional standards.
AT THE AGENCIES
The U.S. Department of Labor
Check back tomorrow for possible updates.
The U.S. Department of the Treasury
The U.S. Department of the Treasury released Treasury International Capital (TIC) data for December 2024. The next release, which will report on data for January 2025, is scheduled for March 19, 2025.
The U.S. Department of Commerce
Check back tomorrow for possible updates.
The U.S. Trade Representative
Check back tomorrow for possible updates.
The U.S. Small Business Administration
Check back tomorrow for possible updates.
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