Prism Group's Daily Summary
BIDEN TO MEET UAW PRESIDENT IN ILLINOIS… President Joe Biden plans to meet with United Auto Workers President Shawn Fain in Belvidere, IL today, where Stellantis recently agreed to reopen a stalled plant. The action aims to create jobs and resume economic activity as part of a tentative contract deal. Despite historic support from the administration during the UAW's recent strike, the union has yet to endorse Biden for reelection, making this meeting a crucial opportunity for the president to solidify labor support.
BETTER CONTRACTING INITIATIVE PROGRAM INTRODUCED BY WHITE HOUSE… The Biden-Harris Administration has unveiled the Better Contracting Initiative, a four-part approach securing favorable terms and prices for the federal government's $700 billion annual purchases of goods and services. The BCI has a focus on deliberate sourcing, including small and disadvantaged businesses, and works to generate over $10 billion annually in savings and cost avoidance.
SENATE VOTES ON "BUY AMERICA" WAIVER FOR EV CHARGERS... The U.S. Senate narrowly voted 50-48 to overturn President Biden's waiver of certain "Buy America" requirements for government-funded electric vehicle charging stations. Senate Democrats Sherrod Brown, Joe Manchin, Jon Tester, and independent Kyrsten Sinema joined Republicans in rejecting the regulation. The White House announced plans to veto the measure, citing potential harm to domestic manufacturing and American jobs.
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:
Maine voters overwhelmingly rejected a ballot proposal to replace the state's major electric companies with a consumer-owned utility. The campaign aimed to address dissatisfaction with Central Maine Power and Versant Power, and advocated for a nonprofit Pine Tree Power Co. run by an elected board. Voters ultimately opted to keep electric companies as they are, with concerns about the perceived risks and costs associated with the proposed overhaul.
The Universities of Wisconsin presented a $32 million proposal to fund development in key areas such as engineering, data science, and business. The announcement follows June's Republican-led budget cut of the same amount from the Wisconsin legislature, with GOP concerns over diversity, equity, and inclusion programs. UW President Jay Rothman expressed confidence that the proposal aligns with the legislature's focus on workforce development.
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 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.”
Committee on Ways and Means will hold a hearing Wednesday, 11/15 at 2:00 PM on “From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing.”
The Senate...
Committee on Finance will hold a hearing TODAY, 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.”
Committee on Small Business and Entrepreneurship will hold a hearing Wednesday, 11/15 at 2:30 PM titled “Veteran Entrepreneurship: From Service to Small Business Success.”
Committee on Health, Education, Labor, and Pensions will hold a hearing Tuesday, 11/14 at 10:00 AM titled “Standing Up Against Corporate Greed: How Unions are Improving the Lives of Working Families.”
BILLS OF INTEREST
Rep. Adrian Smith (R-NE-3) introduced a bill to amend title XVIII of the Social Security Act to improve the accuracy of geographic adjustment factors under the Medicare program and to permanently extend certain adjustments to such factors for certain localities.
Rep. Nydia Velazquez (D-NY-7) introduced a bill to amend the Small Business Act to ensure the application of the "Rule of Two" to certain acquisitions.
Rep. Raul Ruiz (D-CA-25) introduced a bill to amend title XVIII of the Social Security Act to extend incentive payments for participation in eligible alternative payment models under the Medicare program.
AT THE AGENCIES
The US Department of Labor
Check back on Monday for possible updates.
The US Department of the Treasury
The US Department of the Treasury issued a readout titled “Treasurer Chief Malerba Visits the Rincon Band of Luiseño Indians in Southern California to Discuss Benefits of the Inflation Reduction Act on Tribal Economic Development.”
The US Department of Commerce
Check back on Monday for possible updates.
The US Trade Representative
Check back on Monday for possible updates.
The US Small Business Administration
Check back on Monday for possible updates.
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