Prism Group's Daily Summary
TRUMP NOMINEES FOR COMMERCE, SMALL BUSINESS HEADED FOR SENATE FLOOR... Senators on Wednesday advanced the nominations of Howard Lutnick and Kelly Loeffler, President Trump’s picks to head the Commerce Department and the Small Business Administration (SBA), respectively. Both nominations were reported out of committee and are now headed to the full Senate floor for consideration, as Republicans ramp up efforts to install Trump’s nominees.
REPUBLICANS EYE SHORT-TERM EXTENSION OF TAX CUTS... As first reported by the Wall Street Journal, Republicans are considering extending the expiring Tax Cuts and Jobs Act (TCJA) tax cuts for as little as five years, a reflection of the ongoing debate within the caucus when it comes to a topline spending number. Treasury Secretary Scott Bessent quickly responded saying he remains committed to enacting permanent reforms.
HOUSE SCIENCE COMMITTEE EXAMINES U.S. LEADERSHIP IN SCIENCE AND TECHNOLOGY... The House Science, Space, and Technology Committee held its first hearing of the 119th Congress on Wednesday, titled “The State of US Science and Technology: Ensuring US Global Leadership”. Committee Chair Brian Babin (R-TX) shared in his opening statement that Congress must foster innovation through strategic investments, regulatory reforms, and policies that protect IP while leveraging the strengths of the free market. Witnesses highlighted the urgent need for modernization and investment to maintain global leadership across critical technologies, particularly in response to growing international competition, especially from China. Discussion throughout the hearing underscored the importance of collaboration between government, industry, and academia to drive innovation and maintain US leadership.
SENATE LOOKS TO FORCE HOUSE’S HAND ON RECONCILIATION STRATEGY... Senator Lindsey Graham (R-SC) told GOP senators yesterday he intends to mark up a resolution next week that includes defense, border, and energy policies. The announcement is a sign of the skepticism among lawmakers in the upper chamber when it comes to the House’s ability to move a single reconciliation bill in short order.
NSBA HOLDS SMALL BUSINESS CONGRESS...
The National Small Business Association (NSBA) will host its biennial Small Business Congress in Washington, D.C., today and tomorrow (Feb 6-7), bringing together small-business owners from across the country to shape the organization's policy agenda for the next two years. As a member-driven organization, NSBA provides a platform for entrepreneurs to discuss pressing challenges, identify key priorities, and vote on the top policy issues affecting their businesses. Attendees will participate in issue-focused discussions, hear from industry experts, and collaborate to drive policy change.
For more details, visit NSBA’s website.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Forty-seven states are in regular session.
WHAT WE'RE WATCHING:
The Iowa House State Government Committee has unanimously approved legislation giving four weeks of paid leave to state employees after they give birth. It’s the third time the bill has been introduced, but it’s never advanced to a floor vote until now.
Utah lawmakers are advancing legislation to prevent public employee unions from collective bargaining with government agencies after negotiations between Republicans and union officials broke down. It is unclear when the state Senate will take up the bill.
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 Energy and Commerce Health Subcommittee will hold a hearing TODAY, 2/6 at 10:00 AM entitled “Combatting Existing and Emerging Illicit Drug Threats.”
Ways and Means Committee will hold a hearing TODAY, 2/6 at 2:00 PM entitled “Time’s Running Out: Prosecuting Fraudsters for Stealing Billions in Unemployment Benefits from American Workers.”
The Senate...
Committee on Finance will hold a hearing TODAY, 2/6 at 10:00 AM entitled “Hearing to Consider the Nomination of Jamieson Greer, of Maryland, to be United States Trade Representative, with the rank of Ambassador Extraordinary and Plenipotentiary.”
BILLS OF INTEREST
Check back Monday for possible updates.
AT THE AGENCIES
The U.S. Department of Labor
Check back Monday for possible updates.
The U.S. Department of the Treasury
Check back Monday for possible updates.
The U.S. Department of Commerce
Check back Monday for possible updates.
The U.S. Trade Representative
The Office of the United States Trade Representative (USTR) announced that it welcomes the action taken by the Government of Mexico towards resolving the dispute under the United States-Mexico-Canada Agreement (USMCA) on Mexican biotechnology measures concerning genetically engineered (GE) corn.
The U.S. Small Business Administration
Check back Monday for possible updates.
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