EIW Today - March 27th, 2025

Prism Group's Daily Summary

BRIGGS AND MULLIGAN SEEK COMMITTEE APPROVAL... The Senate Small Business Committee convenes this morning and will vote on the nominations of William Briggs as Deputy Administrator and Casey Mulligan as Chief Counsel for Advocacy at the Small Business Administration. Assuming a favorable vote count the two nominations will head to the Senate floor, the last step before being confirmed.  

REPUBLICANS ACCELERATE THE RECONCILIATION TIMELINE... Senate Majority Leader John Thune told GOP senators this week that he may schedule a vote on a joint House-Senate budget resolution next week, even earlier than an ambitious deadline announced previously. The move could signal progress in talks between Republicans and the Senate Parliamentarian over the use of a scoring method called “current policy baseline,” which could enable lawmakers to extend the expiring tax cuts without generating a hefty price tag from congressional scorekeepers.  

RECENT COLLEGE GRADUATES FACE HIGHER UNEMPLOYMENT RATES... According to Bureau of Labor Statistics (BLS) data, individuals ages 20-24 with a bachelor’s degree have a higher unemployment rate than those with an associate’s degree or certification. This shift aligns with market trends as more individuals question the value of a bachelor’s degree, employers ramp up skills-based hiring, and more advanced technical training programs become available. 

PRESIDENT TRUMP ENACTS AUTO TARIFFS... Yesterday evening, President Trump signed an executive order confirming 25% automobile and auto parts tariffs on vehicles imported to the United States. The U.S. will start collecting the auto tariffs on April 3, Trump said, the day after he is set to announce a broader slate of trade actions. A senior administration official stated that the 25% tariff would be in addition to existing levies, including a 2.5% U.S. tariff and the longstanding 25% tariff on light trucks, known as the “chicken tax.” This new tariff would also be layered on top of the 25% tariffs imposed on goods from Canada and Mexico.  

THE STATE OF THE STATES

SESSIONS BY THE NUMBERS: 

Forty-five states are in regular session.

WHAT WE'RE WATCHING: 

The Colorado House has approved legislation prohibiting the use of algorithms to set or recommend rental prices. The bill targets RealPage, a Texas-based company under federal scrutiny for alleged price-fixing. A similar bill died in the Senate last year.

The Oklahoma House has approved legislation allowing the state Treasurer and state pension funds to invest up to 5% of their money in a digital asset with a market cap of more than $500 billion. The bill sets that market cap to effectively limit investment options to Bitcoin, the only cryptocurrency with a market cap high enough to qualify.

LAWMAKERS... IN OR OUT? 

The House... convenes today at 9:00 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 Small Business will hold a hearing Tuesday, 4/1 at 10:00 AM entitled, “The Golden Age: Unleashing Main Street Through Deregulation.” 

Committee on Financial Services will hold a hearing Tuesday, 4/1 at 10:00 AM entitled, “Following the Money: Tools and Techniques to Combat Fraud.” 

Committee on Energy and Commerce Subcommittee on Health will hold a hearing Tuesday, 4/1 at 10:15 AM entitled, “Examining the FDA’s Regulation of Over-the-Counter Monograph Drugs."  

Committee on Energy and Commerce Subcommittee on Oversight and Investigations will hold a hearing Tuesday, 4/1 at 10:30 AM entitled, “Aging Technology, Emerging Threats: Examining Cybersecurity Vulnerabilities in Legacy Medical Devices."  

Committee on Appropriations will hold a hearing Tuesday, 4/1 at 8:30 AM entitled, “NATIONAL SECURITY AND DEPARTMENT OF STATE - MEMBER DAY.” 

Committee on Small Business will hold a hearing Wednesday, 4/2 at 10:00 AM entitled, “Fueling America's Future: How Investment Empowers Small Business Growth.”  

Committee on Appropriations will hold a hearing Wednesday, 4/2 at 10:00 AM entitled, “NATIONAL SECURITY AND DEPARTMENT OF STATE - OUTSIDE WITNESS DAY.” 

Committee on Appropriations will hold a hearing Wednesday, 4/2 at 10:00 AM entitled, “BUDGET HEARING – U.S. HOUSE OF REPRESENTATIVES.” 

The Senate...      

Committee on Banking, Housing and Urban Affairs will hold a hearing TODAY, 3/27 at 10:00 AM entitled “Nomination Hearing.” Committee on Judiciary will hold a hearing Tuesday, 4/1 at 2:30 PM entitled, “Big Fixes for Big Tech.” 

Committee on Health, Education, Labor and Pensions will hold a hearing TODAY, 3/27 at 10:00 AM entitled, “Antisemitic Disruptions on Campus: Ensuring Safe Learning Environments for All Students.”  

Committee on Judiciary will hold a hearing Wednesday, 4/2 at 10:15 AM entitled, “Rule by District Judges II: Exploring Legislative Solutions to the Bipartisan Problem of Universal Injunctions.”  

Committee on Small Business and Entrepreneurship will hold a Business Meeting Wednesday, 4/2 at 2:30 PM entitled “The Committee on Small Business and Entrepreneurship will hold a Business Meeting to consider pending business of the committee.” 

BILLS OF INTEREST 

This week the House Financial Services Committee marked up the following bill:

H.R. 1190, Expanding Access to Capital for Rural Job Creators Act. The bill aims to amend the Securities Exchange Act of 1934 to expand access to capital for rural-area small businesses. 

AT THE AGENCIES  

The U.S. Department of Labor 

The U.S. Department of Labor announced its unemployment insurance weekly claims report. 

The U.S. Department of the Treasury 

The U.S. Department of the Treasury announced the formal publication of the Financial Crimes Enforcement Network (FinCEN) interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act and narrows the scope of the rule to foreign reporting companies. 

The U.S. Department of the Treasury  announced that Deputy Secretary for the U.S. Department of the Treasury Michael Faulkender confirmed by the United States Senate.

The U.S. Department of Commerce 

Check back next week for possible updates. 

The U.S. Trade Representative  

Check back next week for possible updates. 

The U.S. Small Business Administration 

Check back next week for possible updates. 

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