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EIW Today - January 10th, 2024

Prism Group's Daily Summary

BIPARTISAN PUSH FOR AI CONSORTIUM... Senators Martin Heinrich (D-NM) and Todd Young (R-IN) are pushing the Appropriations Committee to allocate $10 million towards the establishment of an Artificial Intelligence Safety Institute. The Biden administration previously announced the Institute’s creation in November; if passed, this bill would ensure its funding and further oversight.  

SIGNIFICANT IRS FUNDING CUTS... Under the conditions agreed to by House Speaker Mike Johnson (R-LA) and Senate Majority Leader Chuck Schumer (D-NY), the IRS will see $20 billion in cuts for the 2024 fiscal year. The Inflation Reduction Act granted $80 billion in funding to the IRS on top of its existing ~$12 billion, which Republicans have been eager to defund. Under a previous agreement between President Biden and former Speaker McCarthy, only $10 billion would be cut this year while the same amount would be cut in fiscal year 2025.  



Thirty-two state legislatures are in regular session.  



California Gov. Gavin Newsom (D) will announce his initial budget plan for the state today. This is the start of a yearly process that will culminate in a revised budget proposal in June; all eyes are on the governor as the state currently faces a $68 billion deficit.

In his State of the State address on Tuesday, Florida Governor Ron DeSantis (R) announced a proposal for $1.25 billion to increase salaries for teachers. Furthermore, DeSantis advocated for tax reductions amounting to $1.1 billion, along with a $20 million initiative designed to attract law enforcement personnel to relocate to Florida. 


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

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



The House...  

Committee on Small Business will hold a hearing Thursday, 1/11 at 10:00 AM entitled “Crime on the Rise: How Lawlessness is Impacting Main Street America.” 

Committee on Small Business will hold a hearing Thursday, 1/18 at 10:00 AM entitled “Unleashing Main Street's Potential: Examining Avenues to Capital Access” 

 Committee on Ways and Means will hold a hearing Thursday, 1/11 at 10:00 AM entitled “Markup Of: H.R. 6918, the ‘Supporting Pregnant and Parenting Women and Families Act’”  

Committee on Energy and Commerce will hold a hearing Thursday 1/18 at 10:00 AM entitled "Protecting Clean American Energy Production and Jobs by Stopping EPA's Overreach" 


The Senate...  

Committee on Banking, Housing, and Urban Affairs will hold a hearing Thursday, 1/11 at 10:00 AM on “Stopping the Flow of Fentanyl: Public Awareness and Legislative Solutions” 

Committee on the Judiciary will hold a hearing Wednesday, 1/10 at 2:00 PM on “Oversight of A.I.: The Future of Journalism.” 

Committee on the Judiciary will hold a hearing Thursday, 1/11 at 10:00 AM on “Executive Business Meeting” 



  • Sen. Joni Ernst (R-IA) introduced a bill to repeal programs relating to funding for electric vehicle charging infrastructure, and for other purposes. 

  • Rep. Shri Thanedar (D-MI-13) introduced a bill for Equitable Contracting and Small Business Advancement Act.  

  • Rep. Henry C. "Hank" Johnson, Jr. (D-GA-4) introduced a bill on Small Business Contracting Fairness Act 



The US Department of Labor 

The US Department of Labor issued a joint statement by Acting Secretary of Labor Su, Equal Employment Opportunity Commission Chair Burrows on the anniversary of the PWFA and PUMP Acts. 


The US Department of the Treasury 

The US Department of the Treasury issued remarks by Secretary of the Treasury Janet L. Yellen at the Financial Crimes Enforcement Network. 


The US Department of Commerce 

Check back tomorrow for possible updates. 


The US Trade Representative 

The Office of the US Trade Representative announced Juan A. Millán as Acting General Counsel. 


The US Small Business Administration 

The US Small Business Administration announced that the SBA Growth Accelerator Fund Competition opened Jan. 8 to expand and strengthen its national innovation ecosystem. 


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