Prism Group's Daily Summary
PLAN TO ATTACH DISASTER RELIEF TO AID BILL GAINS MOMENTUM... According to Tax Notes, Senators are exploring disaster tax relief as part of an upcoming emergency disaster funding bill, following the Biden administration's request for $100 billion in recovery aid for natural disasters. While a previous disaster tax relief proposal, included in the Wyden-Smith tax package, was blocked in the Senate, lawmakers on both sides of the aisle continue to push for targeted measures to assist victims of recent disasters, including hurricanes and wildfires.
SMALL BUSINESS OUTLOOK: OPTIMISM FOR 2025 CONTINUES TO GROW... U.S. Chamber of Commerce presents its newest data regarding the 2025 outlook for small businesses. Their weekly survey and analysis of the latest data from leading organizations about small businesses also reveal optimism about the economy coupled with inflation worries, ongoing hiring pressures, and a peek into consumer plans this holiday shopping season.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Six states are in regular session. Louisiana is in special session.
WHAT WE'RE WATCHING:
Alabama Senate President pro tempore Greg Reed will now serve as Gov. Kay Ivey’s (R) Senior Advisor to Workforce Transformation, effective January 1, 2025. He will help oversee the transition of the Department of Labor to the newly created Department of Workforce, aligning with Alabama's ongoing efforts to boost labor force participation and economic growth. The Department of Workforce is set to launch in summer 2025.
Virginia's Workforce Housing Investment Program was announced by Gov. Glenn Youngkin (R). The program is a $75 million initiative to catalyze $750 million in private investment to build 5,000 workforce housing units over five years. The program bridges housing development with economic growth by targeting areas near job-creating businesses.
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 TODAY, 11/20 at 10:00 AM entitled “Oversight of Prudential Regulators.”
Committee on Appropriations will hold a hearing TODAY, 11/20 at 10:00 AM entitled “Assessing the Veterans Health Administration Fiscal Year 2025 Potential Shortfall."
Committee on Appropriations will hold a hearing TODAY, 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 TODAY, 11/20 at 2:00 PM entitled “Tax Policy in 2025: Implications for the American Economy."
Committee on Appropriations will hold a hearing TODAY, 11/20 at 10:00 AM entitled “A Review of Disaster Funding Needs."
Committee on Judiciary will hold a hearing TODAY 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 released a newly updated National Database of Childcare Prices showing the price of child care for U.S. families is more than a month’s rent for many, forcing parents with younger children to spend a significant portion of family income on these expenses.
The U.S. Department of the Treasury
The Department of the Treasury and IRS released final rules to expand access to clean energy tax credits.
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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