Prism Group's Daily Summary
GOVERNMENT SHUTDOWN LOOMS AS SENATE STANDOFF CONTINUES... With a Friday midnight deadline approaching, the federal government is on the brink of a shutdown as Senate leaders remain locked in a standoff over funding. Minority Leader Chuck Schumer has declared that Republicans lack the votes to advance their proposed spending measure, while some in the party are pushing for a short-term extension through mid-April. Senate Majority Leader John Thune has set up a key procedural vote for Friday, but without bipartisan agreement, a shutdown seems increasingly likely.
AMID CUTS, SBA PRESSES FORWARD WITH PROGRAM EXPANSIONS... The Business Journals has a good overview of the various initiatives being spearheaded by the Small Business Administration, even amid the White House’s focus on cuts. The key development is its Made in America Manufacturing Initiative, which aims to reduce $100 billion and regulatory burdens and expand access to capital for small businesses. Key efforts include a new Red Tape Hotline for business owners to report excessive regulations, the creation of an Office of Manufacturing and Trade, and expanded use of the 7(a) Working Capital Pilot Program and 504 loan program to support inventory purchases, equipment, and facility expansions.
TRADE WAR CONTINUES WITH ADDITIONAL TARIFFS AND THREATS... President Trump took aim at the European Union today, calling the governing body a “hostile and abusive taxing and tariffing authority” while threatening a 200 precent tariff on alcohol from EU member countries after the EU implemented levies on U.S. goods. The levies from the EU were in response to Trump’s tariffs on all aluminum and steel imports into the U.S., with Canada additionally imposing retaliatory tariffs on US $20 billion worth of U.S. imports.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Forty-six states are in regular session.
WHAT WE'RE WATCHING:
The Arizona Senate Natural Resources Committee has approved legislation waiving state regulations to allow data centers and industrial energy users to build small nuclear reactors in rural areas. The bill would allow small modular nuclear reactors without certificates of environmental compatibility.
Ohio Governor Mike DeWine delivered his State of the State address Wednesday, calling for investments in workforce development and education while touting the state’s economic strength. His budget proposal includes a $1,000 child tax credit, expanded vision care for children, and continued funding for child care and merit scholarships, with a new focus on tying university funding to job placement.
LAWMAKERS... IN OR OUT?
The House... is not in session.
The Senate... convenes today at 10:00 AM. The full schedule may be found here.
HAPPENING ON THE HILL
The House...
Is not in session.
The Senate...
Committee on Judiciary will hold a hearing TODAY, 3/13 at 9:15 AM entitled, “Executive Business Meeting.”
Committee on Health, Education, Labor and Pensions will hold a hearing TODAY, 3/13 at 9:30 AM entitled, “Nomination.”
Committee on Banking, Housing, and Urban Affairs will hold a markup TODAY, 3/13 at 10:00 AM entitled, “Executive Session.”
Committee on Health, Education, Labor and Pensions will hold a hearing TODAY, 3/13 at 10:00 AM entitled, “Nomination of David Weldon to Serve as Director of the Centers for Disease Control and Prevention.”
Committee on Finance will hold a hearing Friday, 3/14 at 10:00 AM entitled, “Hearing to Consider the Nomination of Mehmet Oz, of Pennsylvania, to be Administrator of the Centers for Medicare and Medicaid Services, vice Chiquita Brooks-LaSure, resigned.”
BILLS OF INTEREST
S. 394, “The Guiding and Establishing National Innovation for U.S. Stablecoins of 2025’’or the ‘‘GENIUS Act of 2025’’.
Defines a payment stablecoin as a digital asset used for payment or settlement that is pegged to a fixed monetary value;
Establishes clear procedures for institutions seeking licenses to issue stablecoins;
Implements reserve requirements and light-touch, tailored regulatory standards for stablecoin issuers;
For issuers of more than $10 billion of stablecoins, applies the Federal Reserve’s regulatory framework to depository institutions and the Office of the Comptroller of the Currency’s framework for nonbank issuers;
Allows for state regulation of issuers under $10 billion in market capitalization and provides a waiver process for issuers exceeding the threshold to remain state-regulated; and
Establishes supervisory, examination, and enforcement regimes with clear limitations.
For more information about the bill click here.
AT THE AGENCIES
The U.S. Department of Labor
Check back next week for possible updates.
The U.S. Department of the Treasury
Check back next week for possible updates.
The U.S. Department of Commerce
Check back next week for possible updates.
The U.S. Trade Representative
Ambassador Jamieson Greer issued the following statement regarding the European Union's announced retaliatory tariffs on the United States.
The U.S. Small Business Administration
Check back next week for possible updates.
Want this email forwarded to you? Curious for more information?
Subscribe to EIW Today to receive the morning newsletter directly in your own inbox!
Comentários