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EIW TODAY - November 28, 2023

Prism Group's Daily Summary




CONGRESS TO VOTE ON SBA BILLS…With Congress in session again, the House is scheduled to take up six bills on small businesses and the Small Business Administration this week. A significant component of this package focuses on strengthening protections against PPP loan fraud: HR 4666 requires the SBA inspector general to report to Congress on loan fraud, while HR 5427 bars any individuals convicted of PPP fraud from receiving future SBA assistance. The bills will also increase oversight over the SBA by requiring regular reports to Congress on veteran-owned businesses and women-owned businesses, among others.


SEC IMPLEMENTS DODD FRANK RULE… The SEC adopted Rule 192 on Monday as mandated by the Dodd Frank law in 2010. This rule will bar certain individuals from selling asset-backed securities that are “tainted by material conflicts of interest,” in effect preventing traders from betting against securities that they sell.


NDAA CONFERENCE COMMITTEE TO BEGIN TOMORROW… Congress will hold its annual conference on the National Defense Authorization Act this Wednesday, with speculation that the final version of the bill could be announced this week. The House and Senate approved their respective versions of the bill in July and the NDAA will be finalized after the conference committee’s session.



THE STATE OF THE STATES

SESSIONS BY THE NUMBERS:

Four state legislatures are in session. Texas is in special session.

WHAT WE'RE WATCHING:

Half of all U.S. states will see minimum wage increases beginning in 2024; seven states will set minimum wage at $15 an hour, more than double the federal minimum wage. Hawaii, Nebraska, Delaware, and Maryland will see the highest raises, while new ballot measures to raise the minimum wage are being advocated for in California, Alaska, Missouri, and Oklahoma.

The New Jersey Department of Labor and Workforce Development has committed $10 million to enhance apprenticeship training centers. This move works to address a heightened demand for skilled labor amid a surge in infrastructure and public works projects statewide.

LAWMAKERS... IN OR OUT?

The House... convenes today at 12:00 PM 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 Energy and Commerce will hold a hearing TOMORROW, 11/29 at 10:30 AM titled “Understanding How AI is Changing Health Care.”

Committee on Energy and Commerce will hold a hearing Thursday, 11/30 at 10:00 AM titled “Unmasking Challenges CDC Faces in Rebuilding Public Trust Amid Respiratory Illness Season.”

Committee on Energy and Commerce will hold a hearing Thursday, 11/30 at 10:30 AM titled “Oversight of President Biden’s Broadband Takeover.”

The Senate...

Committee on Banking, Housing, and Urban Affairs will hold a hearing Thursday, 11/30 at 10:15 AM titled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.”

Committee on Finance will hold a hearing TODAY, 11/28 at 10:00 AM titled “Open Executive Session to consider favorably reporting the nomination of The Honorable Martin O'Malley, of Maryland, to be Commissioner of Social Security.”

Committee on the Judiciary will hold a hearing TODAY, 11/28 at 10:00 AM titled “The Gun Violence Epidemic: A Public Health Crisis.”


BILLS OF INTEREST

  • Sen. Ted Cruz (R-TX) introduced a bill to require the imposition of sanctions with respect to Ansarallah and its officials, agents, or affiliates for acts of international terrorism.

AT THE AGENCIES

The US Department of Labor

The US Department of Labor issued a news release announcing its recovery of more than $1.2M for 142 workers on Pabst Farm Housing construction project in Oconomowoc.

The US Department of the Treasury

Check back tomorrow for possible updates.

The US Department of Commerce

The US Department of Commerce issued a press release titled Biden-Harris Administration Highlights Commerce Actions at Launch of White House Council on Supply Chain Resilience.”

The US Trade Representative

The US Trade Representative issued a press release on the details of the USMCA Dairy Ruling.

The US Small Business Administration

Check back tomorrow for possible updates.


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