Prism Group's Daily Summary

FEDERAL GRANT PAYMENTS TO BE PUT ON HOLD... Effective at 5pm EST today, a litany of federal grant, loan, and other financial assistance programs will be put on hold, according to a memo issued by the Office of Management and Budget. The Trump administration says its goal is to review the programs and other activities to ensure they are consistent with the law and the President’s priorities. The scope of the order is vast, to say the least, and will likely impact several tens of billions of dollars in payments.
TRUMP CABINET CONTINUES TO TAKE SHAPE… Scott Bessent, President Trump’s nominee to lead the Treasury Department, drew bipartisan support and was confirmed by the full Senate yesterday in a 68-29 vote. Among the other action in this Senate this week on that front is a hearing in the chamber’s Small Business & Entrepreneurship Committee on Kelly Loeffler’s nomination to lead the Small Business Administration, scheduled for tomorrow.
SMALL BUSINESS NEEDS ‘NEVER CHANGE,' REGARDLESS OF WHO OCCUPIES THE WHITE HOUSE: FORMER BIDEN ADVISER... As President Trump’s administration begins to take effect, many marginalized groups are nervous about what this means for them. Within 24 hours of taking office, President Trump had already signed an executive order revoking federal DEI guidelines. Could small business owners — and marginalized entrepreneurs — face issues running their small businesses under this new administration? Though many are preparing for a bleak four years, former director of public affairs and senior adviser for the Biden administration Jonathan Lovitz isn’t worried about small entrepreneurs.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Forty-five states are in regular session. Tennessee and Florida are in special session.
WHAT WE'RE WATCHING:
Illinois Governor JB Pritzker (D) and Chicago Mayor Brandon Johnson announced a $10 million grant program to support small businesses, with a focus on historically underrepresented groups. The funding comes from the Office of Economic Equity and Empowerment, and will work to promote sustainable growth, job creation, and equity for businesses with fewer than ten employees.
Massachusetts state Senator Kelly Dooner (R) has introduced a “Small Business Bill of Rights” that would work to reduce costs, streamline licensing, and provide protections for small businesses in the state. The bill includes tax relief, fee reductions, faster agency responses, and a centralized online portal to make processes more efficient.
LAWMAKERS... IN OR OUT?
The House... is not in session today.
The Senate... convenes today at 12:00 PM. The full schedule may be found here.
HAPPENING ON THE HILL
The House...
Check back tomorrow for possible updates.
The Senate...
Senate Small Business Committee will hold a hearing Wednesday, 1/29 at 2:30 PM entitled “Nomination of The Honorable Kelly Loeffler to be Administrator of the Small Business Administration.”
Senate Committee on Health, Education, Labor and Pensions will hold a hearing Thursday, 1/30 at 10:00 AM entitled “Nomination of Robert F. Kennedy, Jr. to serve as Secretary of Health and Human Services.”
Senate Committee on Finance will hold a hearing Wednesday, 1/29 at 10:00 AM entitled “Nomination of Robert F. Kennedy, Jr., of California, to be Secretary of Health and Human Services.”
Senate Committee on Judiciary will hold a hearing Wednesday, 1/29 at 9:00 AM entitled “Executive Business Meeting.”
Senate Committee on Judiciary will hold a hearing Thursday, 1/30 at 9:30 AM entitled “Nominations.”
BILLS OF INTEREST
Check back tomorrow for possible updates.
AT THE AGENCIES
The U.S. Department of Labor
Check back tomorrow for possible updates.
The U.S. Department of the Treasury
Check back tomorrow for possible updates.
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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