EIW Today - July 2nd, 2025

Prism Group's Daily Summary

HOUSE GOP PUSHES FOR VOTE ON RECONCILIATION BILL… House Republican leaders are aiming to pass their sweeping multi-trillion dollar reconciliation package as early as today, a pivotal test for Speaker Mike Johnson as he looks to keep his caucus together. The effort faces internal resistance, with some conservatives and moderates expressing opposition and two Republicans voting against the rule in committee Tuesday night. Complicating matters, severe weather has disrupted travel into Washington, potentially delaying the vote until Thursday. As a reminder, House Republicans can only lose three GOP votes, otherwise the measure will not advance. 

BITCOIN BINGE: THE RISE OF THE CRYPTO TREASURY… Following the most recent election cycle, corporate America has started to dip its toes in the digital asset space. A trend has emerged in which American companies have invested billions of dollars into “crypto-treasuries,” a tactic which analysts believe might lead to a market selloff. While some believe that these treasuries may be an instrument to financial freedom, others caution that it may instigate the next "crypto crash." 

CLEAN ENERGY FACES UNCERTAINTY AS CONGRESS MOVES TO ROLL BACK INCENTIVES… With power demand surging due to the rapid growth of AI and data infrastructure, the clean energy sector faces growing uncertainty amid efforts in Congress to roll back key federal incentives. The GOP budget bill currently under consideration would eliminate important tax credits for wind and solar projects. Analysts say this could slow the growth of renewables, although GOP moderates secured changes that remove some new taxes and ease deadlines. Industry officials are now focusing on permitting reform as a potential path to support project development amid these policy changes. 

AS A REMINDER…  In observance of Independence Day, Prism Group will close at 12:00 PM on Thursday, July 3, and remain closed through Friday, July 4. We will resume normal business hours on Monday, July 7.

If anything urgent comes up during that time, please don’t hesitate to reach out — we’ll respond as able. Wishing you a safe and enjoyable Fourth of July weekend!

THE STATE OF THE STATES

SESSIONS BY THE NUMBERS: 

Eight legislatures are in regular session.

WHAT WE'RE WATCHING: 

Connecticut Gov. Ned Lamont (D) has signed legislation setting a net-zero emissions target and adding incentives for solar canopies, energy-efficient heating and cooling systems and green jobs. At the same time, Lamont hinted he is part of talks between the Trump administration and New York about building pipelines to deliver natural gas to New England. 

New Jersey lawmakers have given final approval to a bill ending requirements to publish legal notices in news outlets. Mandatory legal notices are significant revenue sources for newspapers, but many state residents won’t get home delivery after the Newark Star-Ledger and its affiliates stopped printing hard copies. The bill requires public entities to purchase online news ads informing residents where they can find legal notices.

LAWMAKERS... IN OR OUT? 

The House... convenes today at 9:00 AM. The full schedule may be found here. 

The Senate... convenes tomorrow 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...    

Check back tomorrow for possible updates.

BILLS OF INTEREST 

Rep. Keith Self introduced HR 4263 to enhance the competitiveness of the nuclear sector of the United States in foreign countries. 

Rep. Dave Min introduced HR 4256 to reauthorize the Digital Coast Act. 

Rep. Janice Schakowsky introduced HR 4262 to reauthorize programs related to health professions education. 

AT THE AGENCIES  

The U.S. Department of Labor 

Secretary Lori Chavez-DeRemer announced the Department of Labor’s plans to deregulate, aiming to cut regulatory burdens, spur job creation, and fuel economic opportunity for American workers and businesses. The department announced 63 deregulatory actions, proposing to “slash red tape” and reverse any burdensome rules enacted by previous administrations. 

The U.S. Department of the Treasury 

The EU-U.S. Joint Financial Regulatory Forum held on June 24-25, 2025, brought together key financial regulatory agencies from both sides to discuss a wide range of shared priorities, including financial stability, digital finance, sustainability, banking, insurance, and anti-money laundering efforts. Participants exchanged updates on regulatory developments such as the EU’s MiCA and DORA regulations, the U.S. approach to crypto assets, Basel III implementation, and capital markets reform, while emphasizing the importance of consistent prudential frameworks and effective cross-border supervision. Both sides reaffirmed the Forum’s role in maintaining strong transatlantic regulatory cooperation and committed to continued dialogue ahead of the next meeting later in 2025.

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 SBA has approved California Governor Gavin Newsom’s request for disaster relief in downtown Los Angeles. This will allow small businesses to apply for up to $2 million in low-interest EIDL loans to support working capital and normal operating expenses. 

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