EIW Today - May 8th, 2025

Prism Group's Daily Summary

REPUBLICANS PRESS FORWARD ON TAX... Rep. Jason Smith, Chairman of the tax-writing House Ways & Means Committee, is reportedly targeting Tuesday for a markup of some $4 trillion in tax provisions which will be the cornerstone of the broader budget reconciliation package. The hard deadline is likely designed in part to break the longstanding logjam regarding so-called SALT caps, a policy that has pitted Republicans from high-tax blue states against others in the caucus. 

VAN HOLLEN, MORAN LEAD BIPARTISAN BILL TO EXPAND EMPLOYEE OWNERSHIP... Lawmakers have introduced the American Ownership and Resilience Act, a sweeping bill designed to make it easier for employees to own the companies they help build. Led by Senators Chris Van Hollen (D-Md.) and Jerry Moran (R-Kan.), and Representatives Blake Moore (R-Utah) and Lori Trahan (D-Mass.), the legislation responds to an impending wave of retirements among baby boomer business owners—termed the “silver tsunami”—that threatens to shift millions of jobs and billions in wealth to foreign buyers. By creating federally backed Ownership Investment Companies, the bill would unlock up to $5 billion annually in private capital to support transitions to employee ownership through ESOPs and cooperatives. Proponents argue this will keep businesses rooted in local communities, bolster domestic supply chains, and offer workers a path to wealth-building and economic mobility. With strong endorsements from advocates, business groups, and investment leaders, the bill highlights a rare area of bipartisan consensus: that American businesses should remain American-owned, and employees should have a meaningful stake in their shared success.

WORKFORCE EXPERTS TORN ON MAKE AMERICA SKILLED AGAIN... Workforce Experts Torn on Make America Skilled Again…The President’s skinny budget proposal put forward major overhauls to the public workforce development system, proposing the elimination of Job Corps and the Senior Community Service Employment Program, while also cutting overall funding by $1.64B, resulting in a 55% cut to state and local workforce training programs. Dubbed “Make America Skilled Again” or “MASA”, the budget would also consolidate workforce funds into state block grants and focuses more heavily on apprenticeship programs, a move many experts welcome.

THE STATE OF THE STATES

SESSIONS BY THE NUMBERS: 

Thirty-one states are in regular session. Maine is in special session.

WHAT WE'RE WATCHING: 

The Florida Legislature passed a bill that would make it illegal to sell or manufacture cultivated meat, citing threats to the state’s agriculture sector and “natural” food supply. The bill now heads to Governor Ron DeSantis, who has signaled support. Critics say the move stifles food innovation and aligns more with culture war politics than science or market needs.

Connecticut officials announced a $1.8 million Community Investment Fund grant to enhance transit infrastructure around the Veterans Affairs hospital on Campbell Avenue in West Haven. The funding aims to improve sidewalks, bus stops, and pedestrian pathways, enhancing safety and accessibility for the area's 58,000 veterans and 2,000 hospital employees. This initiative marks a significant turnaround for the city, which faced financial challenges following a 2021 embezzlement scandal. 

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 PM. The full schedule may be found here. 

HAPPENING ON THE HILL  

The House...  

Committee on Appropriations will hold a hearing TODAY, 5/8 at 10:00 AM entitled, “Oversight Hearing – The Cybersecurity and Infrastructure Security Agency.” 

Committee on Ways and Means will hold a hearing Friday, 5/9 at 10:00 AM entitled, “Trump Administration’s 2025 Trade Policy Agenda with United States Trade Representative Jamieson Greer.” 

Committee on Appropriations will hold a hearing Wednesday, 5/14 at 9:30 AM entitled “Budget Hearing – U.S. Department of Health and Human Services.” 

Committee on Small Business will hold a hearing Wednesday, 5/14 at 10:00 AM entitled “Investing in America: How Private Equity Empowers Main Street.” 

Committee on Small Business will hold a hearing Wednesday, 5/14 at 10:00 AM entitled “A Small Part in A Big Company: Examining the Power of Franchising in the American Economy.” 

Committee on Appropriations will hold a hearing Wednesday, 5/14 at 10:00 AM entitled “Budget Hearing – U.S. Department of Transportation.” 

The Senate...      

Committee on Appropriations will hold a hearing TODAY, 5/8 at 10:00 AM entitled, “A Review of the President's Fiscal Year 2026 Budget Request for the Department of Homeland Security.” 

Committee on Small Business & Entrepreneurship will hold a hearing Friday, 5/9 at 10:00 AM entitled, “Small Businesses Powering the Clean Energy Economy.”  

Committee on Finance will hold a hearing Wednesday, 5/14 at 10:00 AM entitled, “Nominations of James O’Neill to serve as Deputy Secretary of Health and Human Services, and Janette Nesheiwat to serve as Medical Director in the Regular Corps of the Public Health Service and Surgeon General of the Public Health Service.” 

Committee on Health, Education, Labor & Pensions will hold a hearing Wednesday, 5/14 at 1:30 PM entitled, “Fiscal Year 2026 Department of Health and Human Services Budget.” 

Committee on Small Business & Entrepreneurship will hold a hearing Wednesday, 5/14 at 9:30 AM entitled, “Financing America's Manufacturing and Industrial Boom.”  

BILLS OF INTEREST 

Rep. Mark Takano introduced H.R. 3261 to amend title 38, United States Code, to modify authorities relating to the collective bargaining of employees in the Veterans Health Administration. 

Rep. Haley Stevens introduced H.R. 3259 to amend the National Quantum Initiative Act and the Cyber Security Research and Development Act to advance the rapid deployment of post quantum cybersecurity standards across the United States economy, support United States cryptography research.  

Rep. Andrea Salinas introduced H.R. 3254 to amend the Food, Agriculture, Conservation, and Trade Act of 1990 with respect to emergency assistance for farm workers.  

Rep. Joseph Morelle introduced H.R. 3250 to create a grant program to support the development of innovative learning models.  

Rep. Gwen Moore introduced H.R. 3249 to amend the Internal Revenue Code of 1986 to modify the qualified business income deduction.  

Rep. Frank Lucas introduced H.R. 3244 to require certain entities to clearly disclose to small business concerns key information about factoring facility agreements prior to entering such agreements with such concerns.  

Rep. Chrissy Houlahan introduced H.R. 3239 to improve commercialization activities in the SBIR and STTR programs. 

Sen. Jeanne Shaheen introduced S. 1623 to provide for greater defense workforce integration

AT THE AGENCIES

The U.S. Department of Labor 

U.S. Department of Labor’s Unemployment Insurance Weekly Claims Report.  

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  

Check back next week for possible updates. 

The U.S. Small Business Administration 

The U.S. Small Business Association celebrates National Small Business Week following White House proclamation. 

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