Prism Group's Daily Summary
HOUSE SPEAKER OFFERS REALITY CHECK ON TRUMP PROPOSAL... House Speaker Mike Johnson said Donald Trump’s "no tax on tips” proposal would have to be paid for, effectively pumping the brakes on one of the president-elect’s key campaign pledges, per a report from Bloomberg Tax. It’s unclear what kind of official score the provision would receive - and if it could even be advanced under the reconciliation process, which prohibits changes to Social Security spending or certain dedicated revenue.
OVERTIME RULE STRUCK DOWN... A federal judge in Texas has struck down the Department of Labor’s Overtime Rule, which went into effect earlier this year. By blocking the rule, the court will prevent the overtime threshold from being raised to $58,656 on January 1, 2025. Instead, the ruling maintains the earlier $35,568 mark and applies nationwide.
NJSBDC LAUNCHES 'SUPPORT LOCAL, GROW NEW JERSEY' CAMPAIGN... The New Jersey Small Business Development Centers (NJSBDC) launched the “Support Local, Grow New Jersey” campaign to celebrate Small Business Saturday and encourage New Jerseyans to support the small businesses that form the backbone of our state’s economy. This year’s Small Business Saturday falls on Nov. 30, the Saturday following Thanksgiving, and marks a key day to infuse funds back into our local economies by supporting small businesses across New Jersey.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Five states are in regular session. Louisiana is in special session.
WHAT WE'RE WATCHING:
Missouri’s Department of Higher Education and Workforce Development has been recognized as a top state in the ACT Work Ready Communities Initiative, with 99 counties certified and 112 working toward certification. The program helps align workforce skills with employer needs, supporting economic growth across the state.
Empire State Development’s NYSTAR division has awarded over $4.6 million to 35 New York small businesses through its Innovation Matching Grants program. The program supports high-tech companies in sectors like AI and biotechnology, providing funding for commercialization efforts beyond federal grants to support innovation in New York.
LAWMAKERS... IN OR OUT?
The House... convenes today at 10:00 AM ET. The full schedule may be found here.
The Senate... convenes today at 10:00 AM ET. The full schedule may be found here.
HAPPENING ON THE HILL
The House...
Committee on Financial Services will hold a hearing on Wednesday, 11/20 at 10:00 AM entitled “Oversight of Prudential Regulators.”
Committee on Appropriations will hold a hearing TODAY, 11/19 at 10:00 AM entitled “National Institutes of Health (NIH)."
Committee on Appropriations will hold a hearing on Wednesday, 11/20 at 10:00 AM entitled “Assessing the Veterans Health Administration Fiscal Year 2025 Potential Shortfall."
Committee on Appropriations will hold a hearing on Wednesday, 11/20 at 10:00 AM entitled “Investigating the Crisis of Missing and Murdered Indigenous Women."
The Senate...
Committee on Banking, Housing and Urban Affairs subcommittee on Economic Policy will hold a hearing on Wednesday, 11/20 at 2:00 PM entitled “Tax Policy in 2025: Implications for the American Economy."
Committe on Appropriations will hold a hearing on Wednesday, 11/20 at 10:00 AM entitled “A Review of Disaster Funding Needs."
Committee on Judiciary will hold a hearing TODAY, 11/19 at 10:00 AM entitled “Breaking the Visa-Mastercard Duopoly: Bringing Competition and Lower Fees to the Credit Card System."
Committee on Judiciary will hold a hearing on TODAY, 11/19 at 2:00 PM entitled “Big Hacks & Big Tech: China’s Cybersecurity Threat."
Committee on Judiciary will hold a hearing on Wednesday, 11/20 at 10:00 AM entitled “Nominations."
Committee on Judiciary will hold a hearing on Thursday, 11/21 at 10:00 AM entitled “Executive Business Meeting."
BILLS OF INTEREST
Check back tomorrow for possible updates.
AT THE AGENCIES
The U.S. Department of Labor
The U.S. Department of Labor announced in a press release the start of 10th Annual National Apprenticeship Week which showcases the ways Registered Apprenticeship improves career pathways and expands U.S. workers’ access to good-paying jobs across industries.
The U.S. Department of Labor announced in a press release that it has awarded $5 million in funding to support continued disaster-relief employment and workforce training for Kentucky residents as the commonwealth continues to recover after severe storms in 2023.
The U.S. Department of the Treasury
The Department of Treasury released the Treasury International Capital (TIC) data for September 2024.
The U.S. Department of Commerce
Check back tomorrow for possible updates.
The U.S. Trade Representative
Check back tomorrow for possible updates.
The U.S. Small Business Administration
Check back tomorrow for possible updates.
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