Prism Group's Daily Summary
FUNDING DEAL LIKELY TOO LITTLE, TOO LATE... Just one week before a government shutdown is set to take effect, House and Senate appropriators announced yesterday they had agreed to topline spending numbers that would make up a FY2025 spending package. It's the first step in the appropriations process, following weeks of negotiations over a series of bills that update spending levels for federal agencies. However, Republican leaders appear to have little appetite for that approach, and instead want to vote on a “clean” Continuing Resolution that would maintain current funding levels through at least the end of September.
ERNST ANNOUNCES SBIR REAUTHORIZATION LEGISLATION: WITH REFORMS... At yesterday’s Senate Small Business Committee Hearing, Committee members shared that the SBIR and STTR programs are critical to supporting small businesses and providing jobs across the country, while also discussing concerns over how the current structure of the program can better serve rural areas, be a stronger asset for businesses receiving the grants, and threats of theft of technologies from foreign adversaries. Committee Chair Joni Ernst (R-IA) unveiled the Investing in National Next Generation Opportunities for Venture Acceleration and Technological Excellence (INNOVATE) Act. The legislation would reauthorize the SBIR/STTR programs through 2028 and also implement several reforms to make the program more accessible for new applicants, address concerns over companies using SBIR awards as a primary revenue stream, and strengthen protections against China’s attempts to steal taxpayer-funded intellectual property. Also at the Hearing, Senator Todd Young (R-IN), shared that he is working on legislation to preserve R&D deductions as well as enhancements to the R&D credit for small high-tech businesses.
AWBC’S INTERNATIONAL WOMEN’S DAY RECEPTION…
The Association of Women’s Business Centers is hosting a reception honoring International Women’s Day, March 11, 2025, from 6:00 – 8:00 PM at the National Press Club Ballroom in Washington, D.C. This event will bring together leaders in business and policy to recognize the contributions of women entrepreneurs and discuss the evolving landscape of small business. Attendance is free, but space is limited. RSVP here.
SMALL BUSINESS ADMINISTRATION OFFERS LOANS AT CENTER IN PRINCETON PUBLIC LIBRARY IN RESPONSE TO DISASTER DECLARATION... In response to last month’s devastating floods, the U.S. Small Business Administration (SBA) has established a temporary Business Resource Center at the Princeton Public Library. This center is the first of its kind in the area and aims to provide essential financial assistance to business owners, homeowners, renters, and nonprofits impacted by the disaster. The center primarily serves Mingo, Wyoming, McDowell, and Mercer counties, while also assisting surrounding areas. Additionally, small businesses and private nonprofits in adjacent counties across West Virginia, Kentucky, and Virginia may apply for Economic Injury Disaster Loans (EIDLs) to cover operational losses. For those affected, the SBA’s temporary presence in Princeton provides a crucial opportunity to access federal relief and begin the journey to financial stability. If your business or home suffered damage, don’t delay—visit the center to explore your options.
AGENTIC AI’S IMPACT ON LABOR MARKETS AND WORKFORCE DEVELOPMENT…
Agentic AI, which autonomously executes business processes, is expected to accelerate labor market shifts beyond what Generative AI has already initiated, but current labor projections have yet to fully capture its impact. While economists, tech leaders, and workforce development experts offer diverging predictions, none have explicitly modeled the effects of widespread business process automation enabled by Agentic AI. To navigate this transformation effectively, updated labor market analyses, clearer automation assumptions, and urgent investment in AI upskilling programs are needed to ensure a smooth transition and maximize economic opportunities. As the House moves forward with reauthorization of the Workforce Innovation & Opportunity Act (WIOA), understanding the impacts of Agentic AI will be critical for effective policymaking.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Forty-eight states are in regular session.
WHAT WE'RE WATCHING:
Three years after conceiving a plan to seamlessly connect job seekers, employers and state workforce services, Arkansas officials unveiled LAUNCH, a modern, user-centric platform that is free to use. The program offers integrated service delivery to “support all residents on pathways to employment and economic security.” It utilizes the “no wrong door” philosophy enabling a single point of entry into a website or system, and uses data and artificial intelligence to match job seekers with postings and suggest learning resources.
On Tuesday, Oklahoma joined a growing number of states using artificial intelligence to reduce filing errors, increase efficiency, and better monitor how taxpayer money is spent in procurement. The Office of Management Enterprise Services, responsible for managing statewide procurement efforts in Oklahoma, announced it recently deployed Process Copilot, a generative AI platform that flags mistakes in submission forms, such as missing vendor contracts or including the wrong type of procurement order. The platform helped OMES identify $190 million in flagged purchase card transactions across its 118 agencies, and identified $5.6 million in transactions that exposed ways for state agencies to implement better procurement system controls.
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 Subcommittee on Oversight, Investigations, and Regulations will hold a hearing, Tuesday, 3/11 at 10:00 AM entitled, “Restoring the SBA: Putting Main Street America First.”
Committe on Financial Services will hold a hearing, Tuesday, 3/11 at 10:00 AM entitled, “Navigating the Digital Payments Ecosystem: Examining a Federal Framework for Payment Stablecoins and Consequences of a U.S. Central Bank Digital Currency.”
Committee on Appropriations will hold a hearing, Tuesday, 3/11 at 10:00 AM entitled, “INNOVATIVE TECHNIQUES IN MILITARY CONSTRUCTION.”
Committee on Way & Means Subcommittee on Health will hold a hearing, Tuesday, 3/11 at 2:00 PM entitled, “After the Hospital: Ensuring Access to Quality Post-Acute Care.”
The Senate...
Committee on Health, Education, Labor and Pensions will hold a hearing TODAY, 3/6 at 9:30 AM entitled, “Nomination.”
Committee on Finance will hold a hearing TODAY, 3/6 at 10:00 AM entitled, “Hearing to Consider the Nomination of The Honorable Michael Faulkender, of Maryland, to be Deputy Secretary of the Treasury, vice Adewale O. Adeyemo, resigned.”
Committee on Health, Education, Labor and Pensions will hold a hearing TODAY, 3/6 at 10:00 AM entitled, “Nomination of Martin Makary to serve as Commissioner of Food and Drugs.”
Committee on Small Business and Entrepreneurship will hold a hearing Wednesday, 3/12 at 2:30 PM entitled, “Nominations of William Briggs to be Deputy Administrator of the Small Business Administration and Dr. Casey Mulligan to be Chief Counsel for Advocacy at the Small Business Administration.”
Committee on Judiciary will hold a hearing Tuesday, 3/11 at 2:30 AM entitled, “Ending the Scourge: The Need for the STOP CSAM Act.”
BILLS OF INTEREST
H.R. 1642 - Connecting Small Businesses with Career and Technical Education Graduates Act of 2025
H.R. 789 - Transparency and Predictability in Small Business Opportunities Act
H.R. 787 - Plain Language in Contracting Act
H.R. 1621 - Entrepreneurs with Disabilities Act of 2025
H.R. 1634 - ThinkDIFFERENTLY About Disabilities Employment Act
H.R. 1816 - WOSB Accountability Act
H.R.1804 - 7(a) Loan Agent Oversight Act
AT THE AGENCIES
The U.S. Department of Labor
Check back Monday for possible updates.
The U.S. Department of the Treasury
Check back Monday for possible updates.
The U.S. Department of Commerce
Statement from U.S. Secretary of Commerce Howard Lutnick on the BEAD Program.
The U.S. Trade Representative
Check back Monday for possible updates.
The U.S. Small Business Administration
Check back Monday for possible updates.
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