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EIW Today - January 24th, 2024

Prism Group's Daily Summary

MOVING FORWARD WITH THE TAX BILL... Last night, House Republicans posted the tax bill, approved 40-3 by the Ways and Means Committee. The bill that extends various tax breaks, including child tax credit, affordable housing incentives, and disaster relief, has struggled quite a bit. The bill is set to be put on the floor next week under suspension of the rules, requiring a two-thirds majority for passage and five days for consideration. This decision comes after the recent disagreement over the cap on state and local tax (SALT) deductions.  


ALL THINGS SMALL BUSINESS... The Senate Committee on Small Business and Entrepreneurship will hold a hearing today at 2:15 PM titled “Succession Planning: Opportunities to Build Wealth and Keep Jobs in Local Communities.” More information and access to live clearing can be found here. The House Committee on Small Business also released information regarding upcoming February hearings.  

ADMINISTRATION CYBERSECURITY GUIDELINES… The Biden administration’s National Institute of Standards and Technology issued preliminary guidelines on corporate cybersecurity programs last week. This publication will provide detailed assistance to corporations for handling information security; the administration states that cybercrime has become a critical issue to solve due to artificial intelligence and an increase in security breaches. The NIST will release a final guideline at the end of the year. 



Thirty-seven state legislatures are in regular session. 



Alabama Lt. Gov. Will Ainsworth announced a new statewide workforce development plan to streamline recruitment and training for the state’s job demands. The plan includes merging existing workforce agencies into a new Alabama Workforce Authority, overseen by a newly created cabinet-level Secretary of Workforce Development. The initiative also proposes business tax credits to bypass employment barriers and introduces the Alabama Workforce Pathways Diploma to provide alternative career paths for those not pursuing two-to-four-year degrees. 


The Healey-Driscoll Administration in Massachusetts is working to integrate new arrivals into the local economy. The administration has appointed Ken Brown as Assistant Secretary for Employer Engagement and Employment Outcomes and Sarah Joseph as Director of Community Engagement. This program will connect the state's businesses in need of talent with newly-arrived individuals eager to work, having already facilitated work authorizations for nearly 3,000 people. 


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. 



The House...  

Committee on Small Business Subcommittee on Innovation, Entrepreneurship, and Workforce Development will hold a hearing next Tuesday, 1/30 at 12:00 PM on “Pathways to Success: Supporting Entrepreneurs and Employees with Disabilities” 


The Senate...  

Committee on the Budget will hold a hearing TODAY, 1/24 at 10:00 AM on “Warming Seas, Cooling Economy: How the Climate Crisis Threatens Ocean Industries” 

Committee on Small Business will hold a hearing TODAY, 1/24 at 2:15 PM on “Succession Planning: Opportunities to Build Wealth and Keep Jobs in Local Communities” 

Committee on Banking, Housing, and Urban Affairs will hold a hearing TOMORROW, 1/25 at 10:00 AM on “Reauthorization of the National Flood Insurance Program: Local Perspectives on Challenges and Solutions” 



  • Rep. Randy Weber (R-TX-14) introduced a bill to improve public-private partnerships and increase Federal research, development, and demonstration related to the evolution of next generation pipeline systems. 

  • Rep. Haley Stevens (D-MI-11) introduced a bill to amend section 7(b) of the Small Business Act to make disaster loans available for damages caused by prolonged power outages. 

  • Rep. Brad Finstad (R-MN-1) introduced a bill to direct the Secretary of Agriculture to periodically assess cybersecurity threats to, and vulnerabilities in, the agriculture and food critical infrastructure sector and to provide recommendations to enhance their security and resilience, to require the Secretary of Agriculture to conduct an annual cross-sector simulation exercise relating to a food-related emergency or disruption 



The US Department of Labor 

The US Department of Labor issued a statement on annual union membership data. 


The US Department of the Treasury 

The US Department of Labor issued a readout: on Assistant Secretary for International Finance Brent Neiman leads Treasury Delegation for U.S.- India Economic and Financial Partnership Virtual Meeting  


The US Department of Commerce 

Check back tomorrow for possible updates. 


The US Trade Representative 

The US Trade Representative issued a readout: ICYMI: President Biden Nominates Nelson Cunningham for Deputy U.S. Trade Representative 


The US Small Business Administration 

Check back tomorrow for possible updates.  


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