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EIW Today - May 9th, 2024

Prism Group's Daily Summary



POTUS LOOKS TO CEMENT HIS LEGACY... Yesterday’s Politico Playbook had an interesting look at the strategy being deployed by the Biden administration to “Trump-proof” his legacy should the current president not be elected to a second term. In short, there are hundreds of billions of dollars – stemming from four key landmark bills – that have been approved by Congress but not yet doled out, with a narrow window to get those funds out the door.


ACTING SECRETARY OF LABOR JULIE SU TO TESTIFY BEFORE SENATE APPROPRIATIONS COMMITTEE... Today, Acting Secretary of Labor, Julie Su, will discuss President Biden’s FY25 budget request for the Department of Labor with Senate appropriators. Acting Secretary Su, who still lacks 50 votes required for confirmation, is expected to address recently rolled out regulations including employer classification, joint employers, overtime, non-competes, and workforce development challenges.  

 

DEADLINE FOR BUSINESSES TO APPLY FOR THEIR SHARE OF MASSIVE CREDIT CARD COMPANY SETTLEMENTS LOOMS... The deadline is looming for millions of businesses who may be entitled to a payout in a $5.5 billion antitrust settlement with Visa and Mastercard. The settlement stems from a 2005 lawsuit that alleged merchants paid excessive fees to accept Visa and Mastercard credit cards, and that Visa and Mastercard and their member banks acted in violation of antitrust laws. 


THE STATE OF THE STATES 


SESSIONS BY THE NUMBERS: 


Twenty-four state legislatures are in regular session.

 

WHAT WE'RE WATCHING: 


Governor Brian Kemp (R) has signed a series of bills to enhance Georgia's workforce development, focusing on easing occupational licensing and expanding job training opportunities. These legislative measures include the creation of a high-demand career list and the initiation of a public service apprenticeship program. 

 

The Tennessee General Assembly has passed HB 1893, which proposes nearly $2 billion in tax refunds and cuts for businesses. The bill is now awaiting Governor Bill Lee's (R) signature. The bill includes major changes to the franchise tax and allows for retroactive refunds, a first in

 

LAWMAKERS... IN OR OUT? 


The House... is out of session today. The full schedule may be found here

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


HAPPENING ON THE HILL 


The House...   

Committee on Energy and Commerce will hold a hearing FRIDAY, 5/10 at 1:00 PM entitled “Perspectives from the Fields: That State of Rural Broadband in America.” 

Committee on Small Business will hold a hearing WEDNESDAY, 5/15 AT 12:00 PM on “Under the Microscope: Reviewing Key SBA programs with Associate Administrator Frost.” 

 

The Senate...  

Committee on Banking, Housing, and Urban Affairs will hold a hearing TODAY, 5/9 at 10:00 AM on “Consumer Protection: Examining Fees in Financial Services and Rental Housing.” 

Committee on Appropriations Subcommittee will hold a hearing TODAY, 5/9 at 10:00 AM on “A Review of the President’s Fiscal Year 2025 Budget Request for the Department of Labor.” 

Committee on Judiciary will hold a hearing TODAY, 5/9 at 10:00 AM on “Executive Business.” 

 

BILLS OF INTEREST 


  • Rep. Max Miller (R-OH-7) introduced a bill to establish a program of workforce development as an alternative to college for all.. 

  • Rep. Joseph Morelle (D-NY-25) introduced a bill to create a grant program supporting the development of innovative learning models.


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 

Check back Monday for possible updates.

 

The U.S. Trade Representative  

The U.S. Trade Representative office issued a press release on U.S. and the Philippines working group meetings on agriculture and labor. 

 

The U.S. Small Business Administration 

Check back Monday for possible updates.

 

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