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EIW Today - March 19th, 2024

Prism Group's Daily Summary



FINANCE CHAIR SAYS IT’S NOW OR NEVER ON TAX BILL... At a recent hearing, Senate Finance Committee Chairman Ron Wyden warned his Republican counterparts that full research and development expensing – along with other tax breaks included in the House-passed tax package – will not be part of future negotiations should the Senate fail to move the legislation. Meanwhile, Republicans are voicing their concerns over the retroactive relief provided by the bill, the latest in a series of critiques and yet another sign that the legislation may not make it across the finish line.   


SUPREME COURT LIKELY TO LIMIT FEDERAL GOVERNMENT’S ROLE IN SOCIAL MEDIA CENSORSHIP... Oral arguments given by Supreme Court justices yesterday, March 18th, on the case Murphy vs. Missouri largely hinted at the Court ruling in favor of the states (Missouri) verses the federal government (Murphy). The core legal debate in the case revolves around whether the federal government has a role in controlling social media narratives. If the Supreme Court rules in favor of Missouri, then contact between federal government officials and social media companies will be largely restricted and regulated moving forward.  

 

OSHA UNVEILS KEY STRATEGIES FOR SMALL BUSINESS COMPLIANCE AND GROWTH... OSHA regulations cover every industry and there are implications that small businesses are affected by their regulations as well.


THE STATE OF THE STATES 


SESSIONS BY THE NUMBERS: 


Thirty-four state legislatures are in regular session.

 

WHAT WE'RE WATCHING: 


In Maryland, state leaders commemorated Equal Pay Day by discussing the findings of a new report showing substantial gender and racial pay disparities. While advocating for wage range transparency bills to mitigate the wage gap, officials and advocates highlighted that women, especially women of color, earn significantly less compared to non-Hispanic white men, with Latinas facing the fourth-largest gap nationally. 


The Michigan Economic Development Corporation and West Michigan Works have partnered with automotive suppliers like Shape Corporation to retrain and hire 1,000 workers amid the auto industry's shift towards EVs. 

 

LAWMAKERS... IN OR OUT? 


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

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


HAPPENING ON THE HILL 


The House...  

Committee on Small Business will hold a hearing  Wednesday, 3/20 at 10:00 AM on "Conducting Oversight: Testimony from the Small Business Administrator.” 

Committee on Financial Services will hold a hearing Wednesday, 3/20 at 10:00 AM on “SEC Overreach: Examining the Need for Reform.” 

Committee on Financial Services will hold a hearing Wednesday, 3/20 at 2:00 PM on “The Characteristics and Challenges of Today’s Homebuyers.” 

Committee on Appropriations will hold a hearing Thursday, 3/21 at 2:30 PM on "Budget and Oversight Hearing: President’s Biden’s Fiscal Year 2025 Budget Request and Economic Outlook.” 

Committee on Education and the Workforce will hold a hearing Wednesday, 3/20 at 10:15 AM on “Examining the policies and pritorities of the Pension Benefit Guaranty corporation.” 

Committee on the Ways and Means will hold a hearing Thursday, 3/21 at 2:00 PM Joint Social Security and Work & Welfare subcomittee hearing with the Commissioner of Social Security, Martin O’ Malley.  

 

The Senate...  

Committee on Small Business will hold a hearing Wednesday, 3/20 at 2:30 PM on “The Oversight of the U.S. Small Business Administration and Review of the President’s Fiscal Year 2025 Budget Proposal.” 

Committee on Finance will hold a hearing Thursday, 3/21 at 10:00 AM on “The President’s Fiscal Year 2025 Health and Human Services Budget.” 

 

BILLS OF INTEREST 


  • Check back tomorrow for possible updates.

AT THE AGENCIES 


The U.S. Department of Labor 

The US Department of Labor issued a news release on the Department’s investigation at four Northern Virginia Jersey Mikes franchise locations that found the operator allowed more than a dozen employees under the age of 16 to perform dangerous tasks and work longer than permitted, violating federal child labor regulations. 


The US Department of Labor issued a news release on the Department’s investigation of a Houston-area contractor's willful disregard for safety procedures which contributed to an 18-year-old worker death when a 15-foot trench wall fell on him. 


The U.S. Department of the Treasury 

Check back tomorrow for possible updates. 

  

The U.S. Department of Commerce 

Check back tomorrow for possible updates. 

 

The U.S. Trade Representative  

Office of the U.S. Trade Representative issued a press release announcing the allocation of an increased quantity of raw cane sugar eligible to enter the United States at a lower duty rate under the WTO tariff-rate quota for Fiscal Year 2024. 

 

Office of U.S. Trade Representative issued a press release on the joint update by the Office of the U.S. Trade Representative, Department of State, and the Department of Health and Human Services on APEC Regulatory Harmonization Steering Committee of Medical Products. 

 

The U.S. Small Business Administration 

The U.S. Small Business Administration issued a press release on small nonfarm businesses in 22 Washington counties and neighboring counties in Oregon now eligible to apply for low-interest federal disaster loans from the U.S. Small Business Administration.  

 

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