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EIW TODAY - November 6, 2023

Prism Group's Daily Summary


LESS THAN TWO WEEKS TO STOP A GOVERNMENT SHUTDOWN... Speaker Mike Johnson (R-LA) begins his second full week on the job with 12 days left to avoid a government shutdown, and is under increased pressure to push a funding bill this week. The House Rules Committee will discuss the appropriations bill today, with the Republican Conference meeting TOMORROW behind closed doors to discuss strategies moving forward. There is still significant uncertainty surrounding plans for the bill, and Speaker Johnson has proposed funding federal agencies until the middle of January to provide more time for deliberation.

FIRST EXPANSION OF THE SBLC PROGRAM IN OVER 40 YEARS... The Biden-Harris Administration announced three new Small Business Lending Company (SBLC) licenses to lenders with efforts to expand capital and fill gaps in underserved communities, representing the SBLC’s first expansion in 40 years. The license allows lending organizations to utilize government guarantees and positions them to write higher volumes of loans to small businesses. The expansion to include Arkansas Capital Corporation, Alaska Growth Capital BIDCO, INC., and Funding Circle will increase the current number of SBLC licenses from 14 to 17.

HOUSE REPUBLICANS CONTINUE FARM BILL PUSH… The 2023 Farm Bill appears unlikely to pass this year with House Republicans at an impasse with Senate Democrats over proposed cuts to SNAP benefits and conservation programs. House Republicans have also proposed increased subsidies for peanuts, cotton, and rice. Funding for Farm Bill programs is set to expire at the end of the year, locking both chambers into a difficult negotiating position that Senate Democrats have sought to alleviate by floating a temporary extension of the bill.

THE STATE OF THE STATES

SESSIONS BY THE NUMBERS:

Six state legislatures are in session. Texas, Illinois, and Florida are in special session.

WHAT WE'RE WATCHING:

In Michigan, House Democrats are aiming to complete their budget and any final legislation before Election Day, when they are likely to lose their narrow majority. Two of the House Democrat members — state Reps. Kevin Coleman and Lori Stone — are running for mayor in Westland and Warren, respectively. If they win, they will quit the legislature, resulting in a tied chamber.

In New York, Uber and Lyft have agreed to pay $328 million in back wages to drivers in a pair of settlements with Attorney General Letitia James (D). Gov. Kathy Hochul (D) said Uber has agreed to start paying into the state’s unemployment insurance fund in a first-of-its-kind settlement.

LAWMAKERS... IN OR OUT?

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

The Senate... convenes today at 3:00 PM ET. The full schedule may be found here.

HAPPENING ON THE HILL

The House...

Committee on Financial Services will hold a hearing TOMORROW, 11/7 at 10:00 AM entitled “The Tangled Web of Global Governance: How the Biden Administration is Ceding Authority Over American Financial Regulation”.

Committee on Ways and Means will hold a hearing TOMORROW, 11/7 at 10:00 AM entitled “Ensuring that ‘Woke’ Doesn’t Leave Americans Broke: Protecting Seniors and Savers from ESG Activism”.

Committee on Small Business will hold a hearing Wednesday, 11/8 at 10:00 AM entitled “Burdensome Regulations: Examining the Effects of Department of Energy Regulations on America’s Job Creators”.

Committee on Small Business will hold a hearing next Tuesday, 11/14 at 10:00 AM entitled “Oversight Over the SBA’s Office of Entrepreneurial Development”.

The Senate...

Committee on Health, Education, Labor, and Pensions will hold a hearing this Wednesday, 11/08 at 2:30 PM on “Avoiding a Cautionary Tale: Policy Considerations for Artificial Intelligence in Health Care.”

Committee on Appropriations will hold a hearing this Wednesday, 11/08 at 9:00 AM on “A Review of the President’s Supplemental Request for the Departments of Health and Human Services and Homeland Security.”

Committee on the Judiciary will hold a hearing this Wednesday, 11/08 at 2:30 PM on “Reforming the Patent Trial and Appeal Board – the PREVAIL Act and Proposals to Promote U.S. Innovation Leadership.”

Committee on Finance will hold a hearing this Thursday, 11/09 at 10:00 AM titled “Examining How the Tax Code Affects High-Income Individuals and Tax Planning Strategies.”

BILLS OF INTEREST

  • Sen. Jefferson Van Drew (R-NJ-2) introduced a bill to prohibit group health plans, health insurance issuers, and Federal Health Care programs from applying prior authorization requirements, utilization management techniques, and medical necessity reviews.

  • Rep. Patrick Ryan (D-NY-18) introduced a bill to amend title 38, United States Code, to expand eligibility for a housing loan guaranteed by the Secretary of Veteran Affairs to certain individuals who performed active duty for training.

  • Rep. Alexander Mooney (R-WV-2) introduced a bill to establish a COVID-19 Victims Compensation Program.

AT THE AGENCIES

The US Department of Labor

Check back tomorrow for possible updates.

The US Department of the Treasury

The US Department of the Treasury issued a press release on “Secretary of the Treasury, Janet L. Yellen to Host PRC Vice Premier He Lifeng for Bilateral Meetings in San Francisco.”

The US Department of Commerce

Check back tomorrow for possible updates.

The US Trade Representative

The Office of the US Trade Representative issued remarks by Ambassador Katherine Tai on the Closing Ceremony of the 20th Africa Growth and Opportunity Act Forum.

The US Small Business Administration

Check back tomorrow for possible updates.

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