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EIW Today - June 13th, 2024

Prism Group's Daily Summary



HOUSE EDUCATION & WORKFORCE COMMITTEE BILL MARKUPS…Today, the House Education and Workforce Committee will markup various education related bills. One of the most controversial bills will be voted on: HR 8534, the Protecting Student Athlete’s Economic Freedom Act, bars classifying student athletes as employees effectively blocking unionization. 


AS THE FIGHT AGAINST INFLATION CONTINUES, IMPROVEMENTS ARE APPARENT... While still growing faster than normal, inflation is improving according to the Federal Reserve, who remain cautious about cutting high interest rates. Fed leaders signaled there would only be one rate cut in 2024 due to a strong job market and slow progress in controlling inflation. This is a decline from three cuts expected in 2024 that was estimated earlier this year.  


CRITICAL MINERALS HEARING IN THE HOUSE...The House Energy and Commerce Subcommittee on Environment, Manufacturing, and Critical Materials will hold a hearing this morning at 10:30am titled “Securing America’s Critical Materials Supply Chains and Economic Leadership”.  

 

NEW CFPB RULES FOR ‘BUY NOW, PAY LATER’ PAYMENTS OFFERS NEW CONSUMER AND SMALL BUSINESS PROTECTIONS... "Buy now, pay later" services like Affirm and Klarna allow consumers to spread out payments with low or zero interest. While they are popular with consumers and can benefit small businesses, these plans come with risks like disputed charges and returns, impacting merchants. New CFPB rules now require BNPL companies to offer consumers protections similar to those provided by credit card lenders, potentially easing concerns for small business owners. 

 

THE STATE OF THE STATES 

SESSIONS BY THE NUMBERS: 

Eleven states are in regular session. South Carolina is in special session.  

 

WHAT WE'RE WATCHING: 

A new AI Essentials course has been launched through a partnership between the state of Oklahoma and Google. The program will train residents in the responsible use of AI, and is part of Gov. Kevin Stitt's (R) broader strategy to position Oklahoma as a national leader in AI in a rapidly-evolving job market and technology sector. 

 

In New Jersey, Gadsden State Community College celebrated the opening of its Advanced Manufacturing Workforce Skills Training Center on Wednesday. Funded by a $25 million statewide bond and $12 million from the Educational Supplemental Appropriation Bill, the center provides training in robotics, mechatronics, and industrial automation, preparing students for high-wage, high-demand jobs in the manufacturing sector. 

 

  

LAWMAKERS... IN OR OUT? 

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

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

 

HAPPENING ON THE HILL 

The House...  

Committee on Financial Services will hold a hearing TODAY 6/13 at 10:00 AM entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” 

Committee on Ways & Means Trade will hold a hearing TODAY 6/13 at 10:00 AM entitled “Crisis on Campus: Antisemitism, Radical Faculty, and the Failure of University Leadership.” 

 Committee on Energy & Commerce Environment, Manufacturing, & Critical Minerals Subcommittee will hold a hearing TODAY 6/13 at 10:30 AM entitled “Securing America’s Critical Materials Supply Chains and Economic Leadership.” 

 

The Senate...   

Committee on Appropriations Subcommittee will hold a hearing TODAY 6/13 at 10:00 AM entitled “A Review of the President’s Fiscal Year 2025 Budget Request for the U.S. Securities and Exchange Commission and the Commodity Futures Trade Commission.” 

Committee on Judiciary will hold a hearing TODAY 6/13 at 10:00 AM entitled “Executive Business Meeting.” 

 

BILLS OF INTEREST 

Check back tomorrow for possible updates. 


AT THE AGENCIES  

The U.S. Department of Labor 

The U.S. Department of Labor released a statement announcing the recovery $253,000 for 19 restaurant workers in Albuquerque, New Mexico.  

The U.S. Department of Labor released a statement announcing the recovery in back wages and damages for landscaping, installation workers in Long Island, New York. 


The U.S. Department of the Treasury 

The U.S. Department of Treasury announced in a press release the targeting of companies and vessels behind illicit Houthi shipments. 

The U.S. Department of Treasury announced in a press release that consumers have saved more $1 Billion in upfront costs on electric vehicle sales. 


The U.S. Department of Commerce 

The U.S. Department of Commerce announced in a press release that the Biden-Harris Administration agreed to expand semiconductor production with Rocket lab. 


The U.S. Trade Representative  

Check back tomorrow for possible updates. 

 

The U.S. Small Business Administration 

The U.S. Small Business Administration’s Secretary Isabel Guzman announced in a press release the extension of moratorium 8(a) eligibility requirement for small disadvantaged businesses.   

  

The U.S. Small Business Administration’s Secretary Isabel Guzman announced in a press release a $30 million in grant funding for new Women Business centers.  

 

The U.S. Small Business Administration’s Secretary Isabel Guzman released a statement that 18 million new business applications have been filed under the Biden-Harris administration. 

 

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