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EIW TODAY - October 17, 2023

Prism Group's Daily Summary


HOUSE SPEAKER VOTE IS PLANNED FOR TODAY, WITH REP. JIM JORDAN LEADING THE WAY... As Rep. Jim Jordan continues with his bid to be House speaker, a vote is scheduled today that could land him the position. However, Rep. Jordan faces challenges in securing a majority of votes, as there are still some Republican holdouts.

POTENTIAL SANCTIONS RELIEF DEAL IN VENEZUELA WOULD MARK ECONOMIC MILESTONE... The U.S. and Venezuelan governments are reportedly close to announcing a sanctions relief deal for Venezuela's economy; the deal includes a condition that banned opponents of President Nicolás Maduro participate in upcoming elections. Although details on the timeline are not yet clear, this is the first political concession by the Maduro government in over a decade.

U.S. TREASURY YIELDS RISE SIGNIFICANTLY... U.S. Treasury yields rose today, following an economic assessment by investors showing increased retail sales. The 10-year Treasury yield rose over 9 basis points to 4.805%. The 2-year Treasury yield increased nearly 6 basis points to 5.152%.

THE STATE OF THE STATES


SESSIONS BY THE NUMBERS:

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

WHAT WE'RE WATCHING:

Governor Tony Evers (D) announced a plan to allocate $170 million in federal funding to support Wisconsin’s child care industry. This stopgap measure is intended to address the child care crisis in the state, with Gov. Evers urging lawmakers to consider more comprehensive investments from the state's surplus to solve the state’s workforce challenges.


Governor Maura Healey (D) announced that Massachusetts’ emergency shelter system is nearing capacity due to a surge in migrants entering the country. As part of a response strategy, the Massachusetts government is working to connect individuals in the shelter system with job opportunities and focusing on affordable housing initiatives.

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 Small Business will hold a hearing Thursday, 10/19 at 10:00 AM titled “Burdensome Regulations: Examining the Effects of DOL Rulemaking on America’s Job Creators”.

  • Committee on Ways and Means Subcommittee on Social Security will hold a hearing TOMORROW, 10/18 at 2:00 PM on Protecting Beneficiaries from the Harm of Improper Payments.

  • Committee on Ways and Means Subcommittee on Oversight will hold a hearing Thursday, 10/19 at 10:00 AM on Investigating Pandemic Fraud: Preventing History from Repeating Itself.

  • Committee on Energy and Commerce Subcommittee on Innovation, Data, and Commerce will hold a hearing TOMORROW, 10/18 at 10:00 AM titled "Safeguarding Data and Innovation: Setting the Foundation for the use of Artificial Intelligence".

  • Committee on Education and the Workforce Subcommittee on Health, Employment, Labor, and Pensions will hold a hearing TOMORROW, 10/18 at 10:15 AM titled “Protecting Workers and Small Businesses from Biden’s Attack on Worker Free Choice and Economic Growth”.

The Senate...

  • Committee on Banking, Housing, and Urban Affairs will hold a hearing TODAY, 10/17 at 2:30 PM ET titled “How Community Development Financial Institutions Promote Housing and Economic Opportunity”.

  • Committee on Finance will hold a hearing TOMORROW, 10/18 at 10:00 AM titled “Medicare Advantage Annual Enrollment: Cracking Down on Deceptive Practices and Improving Senior Experiences”. Committee on the Judiciary will hold a hearing TODAY, 10/17 at 10:00 AM titled “Name, Image, and Likeness, and the Future of College Sports”.

  • Committee on the Budget will hold a hearing TOMORROW, 10/18 at 10:00 AM titled “Improving Care, Lowering Costs: Achieving Health Care Efficiency”.

  • Committee on Commerce, Science, and Transportation will hold a hearing TOMORROW, 10/18 at 2:00 PM titled “Promoting Safety, Innovation, and Competitiveness in U.S. Commercial Human Space Activities”.


BILLS OF INTEREST

  • Sen. Mazie Hirono (D-HI) introduced a bill to provide special rules for retirement accounts and personal casualty losses with respect to certain major disasters occurring in 2023.

  • Rep. Raja Krishnamoorthi (D-IL-8) introduced a bill to amend the Fair Labor Standards Act of 1938 to impose restrictions relating to prospective employees' educational credentials, and for other purposes.

  • Sen. Mike Braun (R-IN) introduced a bill to require the collection of certain data relating to Bureau of Land Management land acquisitions.

AT THE AGENCIES The US Department of Labor

The US Department of Labor announced that Pfizer Inc. agreed to pay $2M to resolve alleged compensation discrimination at a New York City location.

The US Department of the Treasury

The US Department of the Treasury issued remarks by Acting Assistant Secretary for Economic Policy Eric Van Nostrand on the second phase of the price cap on Russian oil at the Brookings Institution.

The US Department of Commerce

Check back tomorrow for possible updates.

The US Trade Representative

The Office of the US Trade Representative issued a readout after CARICOM and the United States held the ninth meeting of the Trade and Investment Council.

The US Small Business Administration

Check back tomorrow for possible updates.

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