EIW Today - July 14th, 2025

Prism Group's Daily Summary

CONGRESS FACES DEADLINE CRUNCH ON APPROPRIATIONS AND RESCISSIONS PACKAGE… Lawmakers are still working to pass FY2026 appropriations bills while debating President Trump’s proposed $9.4 billion rescissions package targeting foreign aid and other spending. Meanwhile, Speaker Mike Johnson is working to unify Republicans behind the House’s defense spending bill that includes controversial policy riders. Importantly for small businesses, there is still no word on timing for the Financial Services and General Government (FSGG) Subcommittee to markup its appropriations package.  

HOUSE KICKS OFF “CRYPTO WEEK” AS SENATE FACES VOTE-A-RAMA… The House returns with its sights set on passing the most consequential crypto legislation to date. Lawmakers are expected to vote on three major bills this week: the GENIUS Act (stablecoin regulation), the CLARITY Act (broader crypto market structure), and a ban on central bank digital currencies. While the stablecoin bill is likely to clear both chambers quickly, the market structure bill faces hurdles—particularly from House Democrats wary of Trump’s crypto ties. Meanwhile, the Senate enters another vote-a-rama, with the looming Fed controversy and Fed Chair Jerome Powell’s future adding intrigue to the week ahead.

EU SET TO TACKLE TARIFFS… European trade ministers are meeting in Brussels today to convene on President Donald Trump’s 30% tariff hike. While the EU has no current plans of implementing counter-tariffs, any potential countermeasures– negotiated on behalf of the EU and its 27 member states– will be postponed until August 1st. The EU hopes to negotiate a deal with the United States by that date, which was set as a deadline by President Trump in his initial correspondence with affected countries. 

HOSPITALS LOOK TO COMBAT DELAYED MEDICAID CUTS…  Hospitals across the nation are mobilizing a major effort to reverse the medicaid reductions enshrined in The One Big Beautiful Act. Signed on the 4th of July, the Act will make a $340 billion dent into hospital budgets over the next decade, however, most of the cuts won’t start until 2028 – buying hospitals the time they need to gear up to persuade lawmakers to push for a rescission.

THE STATE OF THE STATES

SESSIONS BY THE NUMBERS: 

Eight legislatures are in regular session.

WHAT WE'RE WATCHING: 

Businesses in Maine will be required to provide clear information about subscription renewals under new legislation signed by Gov. Janet Mills (D). The law will require businesses that allow online signups to also offer online cancelation options. The law is modeled on Federal Trade Commission rules adopted last year, but placed on hold by a federal court.

Maryland will begin offering $20,000 buyouts, plus $300 for every year of service, to full-time employees of the executive branch in an effort to cut $121 million in ongoing personnel expenses. Gov. Wes Moore (D) has already eliminated 150 vacant positions and imposed a hiring freeze to deal with a budget deficit.

LAWMAKERS... IN OR OUT? 

The House... convenes today at 12:00 PM. The full schedule may be found here. 

The Senate... convenes today at 3:00 PM. The full schedule may be found here. 

HAPPENING ON THE HILL  

The House...  

Committee on Small Business will hold a hearing Tomorrow, July 15th at 10:00 AM entitled, “A Voice for Small Business: How the SBA Office of Advocacy is Cutting Red Tape.” 

Committee on Financial Services will hold a hearing Tomorrow, July 15th at 10:00 AM entitled, “Dodd-Frank Turns 15: Lessons Learned and the Road Ahead.”

Committee on Foreign Affairs will hold a hearing Tomorrow, July 15th at 10:00 AM entitled, “Breaking China’s Chokehold on Critical Mineral Supply Chains.”

Committee on Energy and Commerce will hold a hearing Tomorrow, July 15th at 10:15 AM entitled, “Full Committee: Business Meeting.”  

Committee on Natural Resources will hold a hearing Tomorrow, July 15th at 10:15 AM entitled, “Full Committee Markup.” 

Committee on Energy and Commerce, Commerce, Manufacturing, and Trade will hold a hearing Tomorrow, July 15th at 10:30 AM entitled, “CMT Markup: The SCORE Act - Standardizing Name, Image, and Likeness.” 

Committee on Foreign Affairs will hold a hearing Tomorrow, July 15th at 2:00 PM entitled, “FY26 State Department Posture: Management and Resources.”

Committee on Ways and Means, Oversight Subcommittee will hold a hearing Wednesday, July 16th at 9:00 AM entitled, “Oversight Subcommittee Hearing on Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Built for the 21st Century.”

Committee on Natural Resources, Subcommittee on Indian and Insular Affairs will hold a hearing Wednesday, July 16th at 10:00 AM entitled, “Puerto Rico’s Fiscal Recovery Under PROMESA and the Road Ahead.”

Committee on Financial Services will hold a hearing Wednesday, July 16th at 10:00 AM entitled, “U.S. Policy on Investment Security.”

Committee on Energy and Commerce, Health Subcommittee will hold a hearing Wednesday, July 16th at 10:00 AM entitled, “Health Subcommittee: Legislative Proposals to Maintain and Improve the Public Health Workforce, Rural Health, and Over-the-Counter Medicines.”

Committee on Energy and Commerce, Environment Subcommittee will hold a hearing Wednesday, July 16th at 10:15 AM entitled, “Environment Hearing: Beyond the Blue Bin: Forging a Federal Landscape for Recycling Innovation and Economic Growth.”

Committee on Natural Resoruces, Subcommittee on Federal Lands will hold a hearing Wednesday, July 16th at 10:15 AM entitled, “Legislative Hearing on H.R. 1945, H.R. 2290, H.R. 2306, & H.R. 4285.”

Committee on Financial Services will hold a hearing Wednesday, July 16th at 2:00 PM entitled, “HOME 2.0: Modern Solutions to the Housing Shortage.”

Committee on Foreign Affairs, Subcomittee on Middle East and North Africa will hold a hearing entitled, “Management Family FY26 Budget Posture Hearing.” 

The Senate...    

Committee on Appropriations will hold a hearing TODAY, July 10th at 9:30 AM entitled, “Full Committee Markup of Commerce, Justice, Science; Agriculture, Rural Development, FDA; and Legislative Branch Appropriations Acts.” 

Committee on Energy & Natural Resources will hold a hearing TODAY, July 10th at 10:00 AM entitled, “Full Committee Hearing to Examine the President’s Budget Request for the U.S. Forest Service for Fiscal Year 2026.” 

Committee on Judiciary will hold a hearing TODAY, July 10th at 10:15 AM entitled, "Executive Business Meeting.”

Committee on Foreign Affairs will hold a hearing Tuesday, July 15th at 10:00 AM entitled, “Nominations.”

Committee on Judiciary will hold a hearing Tuesday, July 15th at 10:15 AM entitled, “Beyond the Smash and Grab: Criminal Networks and Organized Theft.” 

Committee on Foreign Affairs will hold a hearing Wednesday, July 16th at 10:00 AM entitled, “Business Meeting.” 

Committee on Foreign Affairs will hold a hearing Wednesday, July 16th IMMEDIATELY FOLLOWING THE BUSINESS MEETING entitled, “Reforming the State Department to Compete in the 21st Century.”

Committee on Health, Education, Labor, and Pensions will hold a hearing Wednesday, July 16th at 10:00 AM entitled, “Nominations of Crystal Carey to be General Counsel of the National Labor Relations Board, Brian Christine to be Assistant Secretary for Health, Department of Health and Human Services, and Brittany Panuccio to be a Member of the Equal Employment Opportunity Commission.”

Committee on Small Business & Entrepreneurship will hold a hearing Wednesday, July 16th at 2:30 PM entitled, “Pending Business.”

Committee on Judiciary, Subcommittee on Crime and Counterrerrorism will hold a hearing Wednesday, July 16th at 2:30 PM entitled, “Too Big to Prosecute?: Examining the AI Industry’s Mass Ingestion of Copyrighted Works for AI Training.”

BILLS OF INTEREST 

Sen. Ed Markey (D-MA) introduced S.2246 to prohibit certain offices of the Small Business Administration from undertaking a reduction in force.

Rep. Haley M. Steven’s (D-MI-11) introduced HR 4350 to establish a loan program to expand capabilities to manufacture critical materials and provide credits for qualified investments into their manufacturing.

Rep. Andrea Salinas (D-OR-6) introduced HR 4347 to amend the Food and Nutrition Act to provide employment and training data grants. 

Sen. Rand Paul (R-KY) introduced S.2244 to require immediate changes to Medicaid relating to alien eligibility and payments to Medicaid expansion states. 

AT THE AGENCIES  

The U.S. Department of Labor 

The Department of Labor has issued new guidance to prevent illegal immigrants from accessing workforce development resources and grants. Now, all grantees funded through the Workforce Innovation and Opportunity Act and related programs must verify valid work authorization before providing services. The list of applicable programs can be found here.

The U.S. Department of the Treasury 

Gary Grippo will serve as Acting Fiscal Assistant Secretary at the Department of the Treasury. Grippo has worked his entire career in the Treasury department, most recently serving as the Deputy Assistant Secretary for Public Finance in the Office of Financial Markets. 

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 

The Small Business Administration expressed the continued availability of relief for small businesses and private nonprofits affected by extreme weather in Michigan. SBA relief also remains available for small businesses, residents, and private nonprofit organizations affected by the severe storms and flooding in Texas.   

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