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EIW TODAY - November 7, 2023

Prism Group's Daily Summary


IRS STREAMLINES PROCESS FOR BUSINESSES OFFERING EV TAX CREDITS… The IRS has launched Energy Credits Online, a portal enabling car sellers to register and offer the federal electric vehicle tax credit of up to $7,500 as an upfront discount to eligible buyers. This will make the tax credit immediately available, and starting in January, buyers can receive it directly at the dealership, so long as the dealership is registered with Energy Credits Online.

ELECTION DAY 2024: LITMUS TEST FOR THE GENERAL... Voters in Ohio, Kentucky, Virginia, Mississippi, and other states are participating in off-year elections today, with the economy being a pressing issue for voters. These elections will provide insights into the political landscape in state and local government ahead of the 2024 federal elections.

AMAZON INTRODUCES NEW ‘BUY NOW, PAY LATER’ CHECKOUT OPTION FOR SMALL BUSINESSES... Amazon will partner with Affirm to introduce a buy now, pay later checkout option for small business owners using its online platform. This service will be available to eligible customers by Black Friday, and works to assist sole proprietors and small businesses.

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:

Vermont's Small Business Technical Assistance Exchange grant program is now accepting applications for a third round of funding, with $1.25 million allocated to support 183 small business projects across Vermont. The third round will prioritize business owners from marginalized groups, with partners such as Working Fields and Vermont Womenpreneurs aiding applicants in the process.

LAWMAKERS... IN OR OUT?

The House... convenes 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, 11/7 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 TODAY, 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 TOMORROW, 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 TOMORROW, 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 TOMORROW, 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 TOMORROW, 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

  • Rep. Maxwell Frost (D-FL-10) introduced a bill to amend the Uniformed and Overseas Citizens Absentee Voting Act to expand coverage of the definition of absent uniformed services voter, under such Act.

  • Rep. Darin LaHood (R-IL-16) introduced a bill to amend the Surface Mining Control and Reclamation Act of 1977 to authorize partnerships between States and nongovernmental entities for the purpose of reclaiming and restoring land and water resources adversely affected by coal mining activities before August 3, 1977.

  • Rep. James Baird (R-IN-4) introduced a bill to allow Federal State Department employees to file a confidential or open report on any fiscal waste that they come across and establishes an award program for exemplary employees who file non-confidential reports on wasteful spending.

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 readout titled “Treasury Convenes Discussion on National Financial Inclusion Strategy.”

The US Department of Commerce

The US Department of Commerce issued a press release on “United States to Host Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial in San Francisco.”

The US Trade Representative

Check back tomorrow for possible updates.

The US Small Business Administration

Check back tomorrow for possible updates.

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