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EIW TODAY - November 8, 2023

Prism Group's Daily Summary


ELECTION NIGHT INSIGHTS:

Despite Kentucky’s strong Republican lean and polls showing a neck-in-neck race, Democratic Governor Andy Beshear handily won re-election to a second term in Kentucky, fending off a challenge from Attorney General Daniel Cameron (R). This outcome was a good example of how state and local elections lean heavily on personal connections between voters and candidates. A popular member of the minority party showed how to be successful based on personality, positivity, and a focus on local economic issues. In his first term, Governor Beshear was proactive in supporting small businesses, including advocating for small business tax credit awareness, a trend likely to continue in his second term.


All 140 seats in the Virginia legislature were up for election yesterday, with Democrats holding a slim majority in the Senate and Republicans having a slim majority in the House of Delegates. Despite Governor Glenn Youngkin (R) heavily promoting a get out the vote campaign for Republican candidates, Democrats appear to have kept control of the Senate and gained a slim majority in the House. Virginia’s off-year elections continue to be an indicator of national trends, as the electorate is closely divided. Both Republican and Democratic leaders in the legislature have expressed a commitment to solving economic issues in the next legislative session, including reducing the effects of inflation and higher costs of living.


While Democrats saw much success in last night’s elections, Mississippi provided a silver lining for Republicans, as Governor Tate Reeves (R) won re-election by defeating conservative Democrat Brandon Presley, winning enough votes to prevent a runoff election. dealership is registered with Energy Credits Online.

NINE DAYS TO PREVENT A SHUTDOWN... House Republicans have struggled to find consensus on a budget strategy, which was made increasingly evident by the House Republican Conference’s closed-door meeting yesterday. Speaker Mike Johnson (R-LA) called the meeting with the intention of defining a clear strategy moving forward—suggesting either a continuing resolution through mid-January or a “laddered” resolution—but ultimately yielded few results, with the conference remaining intensely divided. Concurrently, Senate leadership is considering combining nine appropriations bills into one “maxi-bus” spending package to save time as the prospects of a shutdown grow closer.

REPRESENTATIVES VIE FOR SPEAKER JOHNSON’S OLD ROLE… The House GOP Conference will vote today for the conference’s vice chair, previously held by Speaker of the House Mike Johnson (R-LA), and the race is on among House Republicans for the second-ranking leadership position. Reps. Mark Alford (MO), Mike Collins (GA), Beth Van Duyne (TX), Nicole Malliotakis (NY), Blake Moore (UT), Brian Mast (FL), and Michelle Fischbach (MN) have announced their candidacies, campaigning behind closed doors yesterday.

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:

Colorado voters rejected Proposition HH, a comprehensive tax reform proposal combining property tax cuts and changes to the state's tax system. Supporters conceded defeat shortly after polls closed, leaving Democrats in the Colorado legislature without a solution to impending property tax increases and thwarting efforts to loosen the fiscal limits of TABOR.

Several business organizations in Georgia are supporting Lt. Gov. Burt Jones' 2024 legislative priority, the Red Tape Rollback Initiative, which will reduce barriers for small business owners and workers seeking professional licenses for various job categories. The plan would streamline licensing processes, expand the definition of a small business, and seek an economic analysis of legislation's impact on small businesses.

LAWMAKERS... IN OR OUT?

The House... convenes at 9:00 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 Small Business will hold a hearing TODAY, 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 Tuesday, 11/14 at 10:00 AM entitled “Oversight Over the SBA’s Office of Entrepreneurial Development”.

Committee on Energy and Commerce will hold a hearing Tuesday, 11/14 at 10:00 AM on “Exploring the Uses of AI for U.S. Communications Networks.”

The Senate...

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

Committee on Health, Education, Labor, and Pensions will hold a hearing Tuesday, 11/14 at 10:00 AM on “Standing Up Against Corporate Greed: How Unions are Improving the Lives of Working Families.”

Committee on Appropriations will hold a hearing TODAY, 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 TODAY, 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 TOMORROW, 11/09 at 10:00 AM titled “Examining How the Tax Code Affects High-Income Individuals and Tax Planning Strategies.” Committee on Finance will hold a hearing Tuesday, 11/14 at 2:30 PM titled “Ensuring Medicare Beneficiary Access: A Path to Telehealth Permanency.” BILLS OF INTEREST

  • Rep. Burgess Owens (R-UT-4) introduced a bill to amend the Workforce Innovation and Opportunity Act to establish a state innovation demonstration authority.

  • Rep. Danny Davis (D-IL-7) introduced a bill to amend the Higher Education Act of 1965 to increase the maximum stipend amounts provided under Upward Bound projects.

  • Rep. Max Miller (R-OH-7) introduced a bill to amend certain agricultural laws with respect to the definition of biofuels and sustainable aviation fuel.

AT THE AGENCIES The US Department of Labor

The US Department of Labor announced that it will hold advisory board meeting on compensation, medical benefits for current, former nuclear weapons workers in New Mexico


The US Department of the Treasury

The US Department of the Treasury issued a report on macroeconomic and foreign exchange policies of major trading partners of the United States.

The US Department of Commerce

Check back tomorrow for possible updates.

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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