EIW Today - June 18th, 2025

Prism Group's Daily Summary

CFPB DELAYS SMALL BUSINESS LENDING RULE COMPLIANCE UNTIL 2026… The Consumer Financial Protection Bureau has delayed enforcement of its small business lending data collection rules until July 1, 2026, following an April announcement that they would be rewritten. Originally mandated by the 2010 Dodd-Frank Act, implementation has been delayed for over a decade due to political shifts, legal challenges, and agency priorities. The current rules, spanning 888 pages, apply to both loans and merchant cash advances.

MARKETS RISE DESPITE ONGOING ISRAEL-IRAN TENSIONS… Though tensions are rising in the Middle East, investors seem largely unfazed as the market makes an impressive rebound after initial drops. Oil prices, which momentarily spiked as investors anticipated supply chain disruptions, surprisingly stabilized as Iran’s chief oil export facility remained intact. The S&P 500 and NASDAQ have subsequently posted noticeable gains; however, many analysts warn investors to exercise caution as the conflict could tank energy markets and warrant inflation fears. Chief economist at Apollo Global Management Torsten Slok cautions that the conflict may “exacerbate the ongoing stagflation shock stemming from tariffs and immigration restrictions,” resulting in severe damage to financial markets.

HOSPITAL LEADERS PUSH BACK AGAINST SENATE GOP’S MEDICAID PLAN… Alarmed by Senate Republicans’ proposal to cut the Medicaid provider tax, hospital executives have rallied, lobbying to safeguard hospital reimbursements. This provision may have an adverse effect on healthcare facilities across the board, particularly on those in rural America. Consequently, over 250 hospital leaders from the American Hospital Association have mobilized, urging lawmakers to reconsider cutting the Medicaid provider tax from 6% to 3.5% due to the implications it would have on local healthcare facilities.

 ENERGY SECTOR EXPRESSES CONCERNS OVER TRUMP ADMINISTRATION’S CUTS… Various anonymous sources at organizations such as EPA and DOE lamented that the Trump Administration’s DOGE-driven budget cuts have left these agencies incapable of pursuing further research, with year-long projects authorized as far back as the Biden Administration awaiting further direction. The agencies’ recent staff layoffs (1,300 at EPA, 3,500 at DOE) and newly imposed spending limits further exacerbate these operational pitfalls, with some work now being “essentially frozen.” The cuts to energy agencies have presently left them unable to pursue scientific research which could strengthen the viability of American energy independence or deregulation, as projects requiring reauthorization from the Trump Administration continue to pile up on the docket.

THE STATE OF THE STATES

SESSIONS BY THE NUMBERS: 

Fifteen legislatures are in regular session. Maine is in special session.

WHAT WE'RE WATCHING: 

The Iowa House has secured enough signatures from members to convene a special session to override Gov. Kim Reynolds’s (R) veto of legislation curbing the use of eminent domain in the construction of carbon capture pipelines and other infrastructure projects. The Senate is unlikely to convene to override the veto

Louisiana lawmakers have approved legislation to make it the first state to raise taxes on sports gambling specifically to pay for college sports. The bill, now before Gov. Jeff Landry (R), would hike taxes 21.5% and dedicate a quarter of that revenue to the state’s 11 public universities with Division 1 football programs for the benefit of student athletes.

LAWMAKERS... IN OR OUT? 

The House... convenes for a pro forma session Friday at 11:00 AM. The full schedule may be found here. 

The Senate... convenes today at 11:00 AM. The full schedule may be found here. 

HAPPENING ON THE HILL  

The House...  

Committee on Appropriations will hold a hearing Monday, 6/23 at 2:00 PM entitled, “Budget Hearing – Fiscal Year 2026 Request for the Department of Justice.”

Committee on Small Business will hold a hearing Tuesday, 6/24 at 10:00 AM entitled, “Securing America's Mineral Future: Unlocking the Economic Value Beneath Our Feet.”

Committee on Energy and Commerce will hold a hearing Tuesday, 6/24 at 10:00 AM entitled, “Health Subcommittee Hearing: The Fiscal Year 2026 Department of Health and Human Services Budget.”

Committee on Finance will hold a hearing Tuesday, 6/24 at 10:00 AM entitled “The Federal Reserve’s Semi-Annual Monetary Policy Report.”

Committee on Natural Resources will hold a hearing Tuesday, 6/24 at 10:15 AM entitled, “Legislative Hearing on H.R. 1676, H.R. 3538, H.R. 3857 & H.R. 3858 | Water, Wildlife and Fisheries Subcommittee.”

Committee on Natural Resources will hold a hearing Tuesday, 6/24 at 2:00 PM entitled, “Enhancing Educational Outcomes in Indian Country: Postsecondary Education at the Bureau of Indian Education | Joint Oversight Hearing.” 

Committee on Finance will hold a hearing Tuesday, 6/24 at 2:00 PM entitled, “Member Day.”

Committee on Finance will hold a hearing Wednesday, 6/25 at 10:00 AM entitled, “Reassessing Sarbanes-Oxley: The Cost of Compliance in Today’s Capital Markets.”

Committee on Finance will hold a hearing Thursday, 6/26 at 10:00 AM entitled, “From Watchdog to Attack Dog: Examining the CFPB’s Chopra-era Assault on Disfavored Industries.”

The Senate...    

Committee on Energy and Natural Resources will hold a hearing TODAY, 6/18 at 10:00 AM entitled, “Full Committee Hearing to Examine the President's Budget Request for the U.S. Department of Energy for Fiscal Year 2026.”

Committee on Health, Education, Labor, and Pensions will hold a hearing TODAY, 6/18 at 10:00 AM entitled, “Nominations of Jonathan Berry to be Solicitor, Department of Labor, Andrew Rogers to be Administrator of the Wage and Hour Division, Department of Labor, Anthony D’Esposito to be Inspector General, Department of Labor and Andrea Lucas to be a Member, Equal Employment Opportunity Commission.”

Committee on Appropriations, Subcommittee will hold a hearing TODAY, 6/18 at 10:00 AM entitled, “A Review of the President’s Fiscal Year 2026 Budget Request for the Army.”

Committee on the Judiciary will hold a hearing TODAY, 6/18 at 10:15 AM immediately following the Executive Business Meeting entitled, “Unfit to Serve: How the Biden Cover-Up Endangered America and Undermined the Constitution Type:Full Committee Hearing.”

Committee on Foreign Relations will hold a hearing TODAY, 6/18 at 10:30 AM entitled, “Business Meeting.”

Committee on Foreign Relations will hold a hearing TODAY, 6/18 immediately following the Business Meeting entitled, “NATO Summit 2025: An Assessment of Transatlantic Security Cooperation.” 

Committee on the Judiciary will hold a hearing Tuesday, 6/24 at 10:00 AM entitled, “The Thin Blue Line Protecting America from the Cartels.”

Committee on Appropriations, Subcommittee will hold a hearing Tuesday, 6/24 at 10:30 AM entitled, “A Review of the President’s Fiscal Year 2026 Budget Request for the Navy.” 

Committee on Appropriations, Subcommittee will hold a hearing Tuesday, 6/24 at 10:30 AM entitled, “A Review of the President’s Fiscal Year 2026 Budget Request for the Department of Veterans Affairs.”

Committee on the Judiciary, Subcommittee on Antitrust, Competition Policy, and Consumer Rights will hold a hearing Tuesday, 6/24 at 2:30 PM entitled, “Regulatory Burdens to Unlock Innovation and Spur New Entry.”

Committee on Banking, Housing, and Urban Affairs, Subcommittee will hold a hearing Tuesday, 6/24 at 3:00 PM entitled, “Exploring Bipartisan Legislative Frameworks for Digital Asset Market Structure.”

BILLS OF INTEREST 

Rep. Beth Van Duyne (R-TX-24) introduced HR 4053 to prohibit those convicted of certain felonies from participating in SBA programs. 

Rep. Ritchie Torres (D-NY-15) introduced HR 4052 to direct FARC and OPM to require all Federal contractors conduct comprehensive reviews of job classification to identify positions for which a college degree is required.

Rep. Elise Stefanik (R-NY-21) introduced HR 4050 to establish a voluntary compliance assistance initiative at the Equal Employment Opportunity Commission, and HR 4049 to establish employer-directed skills accounts by amending the Workforce Innovation and Opportunity Act. 

Rep. Ed Case (D-HI-1) introduced HR 4025 to direct the Secretary of Energy to establish an initiative to supply resilient energy grants for remote, island, and Tribal communities. 

Rep. Mike Ezell (R-MS-4) introduced HR 4018 to unleash American offshore critical minerals and resources. 

AT THE AGENCIES  

The U.S. Department of Labor 

The Department of Labor released its Unemployment Insurance Weekly Claims Report.

The U.S. Department of the Treasury 

Secretary Scott Bessent issued a statement applauding the Senate’s action to progress the One, Big, Beautiful Bill. Secretary Bessent praises the bill’s intent to cut taxes on tips and overtime, while introducing some new tax cuts for seniors. 

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 is offering disaster relief to Missouri private nonprofits in the form of low interest disaster loans and is amending its previously launched disaster loan program for Nebraska.

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