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EIW Today - February 27th, 2024

Prism Group's Daily Summary



BUDGET CHAIR SIGNALS OPENNESS TO NEW REVENUES... House Budget Committee Chairman Jodey Arrington (R-TX) made news yesterday when he endorsed a mix of spending cuts and tax increases as part of a long-term plan to deal with the country’s mounting debt and deficits. His comments come amid a push to create a new debt commission, which could ultimately propose significant changes to the existing tax code.  

 

ACTING LABOR SECRETARY SU NOMINATION HEARING SCHEDULED... Acting Sec. of Labor Julie Su, current DOL Deputy Sec. and Biden nominee to replace former Sec. Walsh, will come before the Senate Health, Education, Labor, and Pensions (HELP) Committee for her nomination hearing on February 27. Acting Sec. Su’s nomination is expected to advance out of committee on an 11-10 party line vote. Acting Sec. Su does not have the support of 50 Senators and, due to a 1986 DOL specific regulation that allows DOL’s Deputy Secretary to serve as Acting Secretary of Labor for an undefined period. Like her first nomination in 2023, it is very unlikely to be voted on by the entire Senate as the Vacancies Act, which would limit her tenure as Acting Sec. to 210 days, does not apply. 

 

WORLD TRADE ORGANIZATION 13th MINISTERIAL CONFERENCE... Members of the World Trade Organization are convening in Abu Dhabi today for the 13th Ministerial Conference, which is scheduled to run through Thursday, February 29th. On the innovation front, there are two main issues to watch this week: an extended e-commerce moratorium and an extended TRIPS waiver. Members will discuss whether or not they would like to extend a 1998 moratorium which states that WTO members will refrain from imposing customs duties on electronic transmissions. The e-commerce moratorium is expected to be the most contentious agenda item and it is very possible consensus is not reached at all. The second item is an extension of the 2022 TRIPS waiver to include COVID-19 diagnostics and therapeutics. Currently, the waiver applies to COVID-19 vaccines.      


DATA SHOWS THAT BLACK BUSINESS OWNERS ARE LESS LIKELY TO SECURE LOANS... Small businesses nationwide already face an uphill battle when it comes to making progress and sustaining wealth inducing progress. Data continues to show that being a Black small business owner is even harder. The wealth gap is large and disproportionate for those in the black community, new survey data showsGoldman Sachs' 10,000 Small Businesses Voices Today recently released data highlighting the contributions of and the challenges faced by Black small business owners. The nationwide survey of 1,459 small business owners was taken January 15-21, 2024.


THE STATE OF THE STATES 


SESSIONS BY THE NUMBERS: 


Forty-three state legislatures are in regular session. Louisiana is in special session.

 

WHAT WE'RE WATCHING: 


During the annual winter meeting of the National Governors Association, governors unanimously agreed on a list of federal advocacy priorities that pertain to the workforce, economic development, and community investment. These recommendations are an attempt to guide the 118th Congress in creating laws that meet the needs of the 55 states and territories represented in the NGA. 


The trial against Nebraska Gov. Jim Pillen's return-to-office executive order for state employees commenced this week; state employees shared what could be at stake discontinuing remote work. The role remote work plays in employment decisions, work-life balance, and health benefits were discussed at-length, showcasing the impacts of the governor’s mandate to axe remote work on Nebraska state employees. 

 

LAWMAKERS... IN OR OUT? 


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

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


HAPPENING ON THE HILL 


The House...  

Committee on Small Business will hold a hearing next Thursday, 3/07 at 10:00 AM on “The Rare Earth Mineral Marketplace: Examining the Small Business Role in this Critical Supply Chain.” 

Committee on Small Business will hold a hearing next Wednesday, 3/06 at 10:00 AM on “Reducing Mismanagement: GAO Recommendations for Improving the SBA.” 

Committee on Small Business will hold a hearing Tuesday, 3/12 at 10:00 AM on “Navigating Regulations: Alternative Pathways to Investing in Small Businesses.” 

 

The Senate...  

Special Committee on Aging will hold a hearing Thursday, 2/29 at 10:00 AM on “All Means All: Empowering People with Disabilities to Thrive in Careers and the Workplace” 

Committee on Health, Education, Labor, and Pensions will hold a hearing Today, 2/27 at 11:30 AM on nominations. 

Committee on the Judiciary will hold a hearing Wednesday, 2/28 at 10:00 AM on “Examining and Preventing Deaths of Incarcerated Individuals in Federal Prisons.” 

Committee on the Judiciary will hold a hearing Wednesday, 2/28 at 2:30 PM on “The Nation’s Correctional Staffing Crisis: Assessing the Toll on Correctional Officers and Incarcerated Persons.” 

Committee on Energy and Natural Resources will hold a hearing Wednesday, 2/28 at 10:00 AM to "Examine the Opportunities and Challenges Associated with Developing Geologic Hydrogen in the United States."

Committee on the Judiciary will hold a hearing Friday, 3/01 at 5:00 PM on “Modern-Day Voting Discrimination in Alabama.” 

 

 

BILLS OF INTEREST 


  • Check back tomorrow/Thursday for possible updates. 


AT THE AGENCIES 


The US Department of Labor 

Check back tomorrow/Thursday for possible updates. 

 

The US Department of the Treasury 

Check back tomorrow/Thursday for possible updates. 

 

The US Department of Commerce 

Check back tomorrow/Thursday for possible updates. 

 

The US Trade Representative  

The Office of the US Trade Representative released remarks by United States Trade Representative Katherine Tai at the World Trade Organization Ministerial Conference (MC13).  

 

The Office of the US Trade Representative released remarks made by the United States Delegation at the Ministerial Conversation on Trade and Inclusion. 

 

The Office of the US Trade Representative released a statement made by trade representatives reaffirming their commitment for Ukraine. 

 

The US Small Business Administration 

The US Small Business Administration released a press release on the SBA announcement to increase statutory contract limits for the Surety Bond Guarantee Program. 

 

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