Prism Group's Daily Summary
HOUSE PANEL TO HEAR TESTIMONY FROM SBA ADMINISTRATOR... Tomorrow the House Small Business Committee will hold a hearing entitled “Holding the SBA Accountable,” which will feature testimony from Small Business Administrator Guzman. The description of the hearing is succinct and suggests a contentious event: “Members will question the Administrator of the Small Business Administration (SBA) regarding the Agency’s failure to follow its mission statement and support small businesses.” Prism Group staff will be attending the hearing and will report on any key developments.
NEVADA, A “SOFT LANDING” BELLWETHER... As the Federal Reserve journeys towards interest rate cuts this week, Nevada, a state with a unique economy and labor market utilized by economists as a bellwether, shows signs that the Federal Reserve is successfully reigning in inflation without inducing an employment driven recession; an economic “soft landing.” The Federal Reserve is expected to cut interest rates by 0.25 or 0.5 basis points.
$7 MILLION IN ARPA FUNDING TO BENEFIT FIRST-TIME HOMEBUYERS AND LOCAL SMALL BUSINESSES... Today, Mayor Michelle Wu joined members of the Boston City Council, the Boston Housing Authority (BHA), the Mayor’s Office of Housing (MOH), and the Office of Economic Opportunity and Inclusion (OEOI), to announce the allocation of a $7 million investment of American Rescue Plan Act (ARPA) funding to bolster Boston’s neighborhoods in three ways: by (1) helping first time home buyers with down payment assistance, (2) acquiring of market-rate properties to grow affordable housing stock, and (3) supporting small businesses, including through the City’s SPACE Grant Program.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Four states are in regular session. California is in special session.
WHAT WE'RE WATCHING:
A new report from the NYU Wagner Labor Initiative and Local Progress Impact Lab indicates that while states are introducing anti-labor legislation in response to growing union activity, cities and counties are stepping up to protect workers’ rights. The latter is often addressing issues like wage theft and heat safety despite state preemption laws.
Montana's recent overhaul of contracts for childcare support services has nonprofits facing layoffs and uncertainty. As state contracts shift to for-profit and fewer nonprofits, local organizations are warning of disruptions to services for both providers and families.
LAWMAKERS... IN OR OUT?
The House... convenes today at 12:00 PM. The full schedule may be found here.
The Senate... convenes today at 10:00 AM. The full schedule may be found here.
HAPPENING ON THE HILL
The House...
Committee on Small Business will hold a hearing Wednesday, 9/18 at 10:00 AM entitled "“Holding the SBA Accountable: Testimony from Small Business Administrator Guzman."
Committee on Financial Services will hold a hearing Wednesday, 9/18 at 10:00 AM entitled "Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Assets."
Committee on Financial Services will hold a hearing Wednesday, 9/18 at 2:00 PM entitled "Protecting Americans' Savings: Examining the Economics of the Multi-Billion Dollar Romance Confidence Scam Industry."
Committee on Appropriations will hold a hearing Wednesday, 9/18 at 10:00 AM entitled "Inspectors General HUD, DOT, and Amtrak."
Committee on Ways and Means' Health Subcommittee will hold a hearing on Wednesday, 9/18 at 2:00 PM entitled "Investing in a Healthier America: Chronic Disease Prevention and Treatment."
Committee on Ways and Means' Trade Subcommittee will hold a hearing on Friday, 9/20 at 9:00 AM entitled "Protecting American Innovation by Establishing and Enforcing Strong Digital Trade Rules."
Committee on Energy and Commerce Environment's Manufacturing, and Critical Materials Subcommittee will hold a hearing Thursday, 9/19 at 10:00 AM entitled "Holding the Biden-Harris EPA Accountable for Radical Rush-to-Green Spending."
The Senate...
Committee on Small Business and Entrepreneurship will hold a hearing Wednesday, 9/18 at 2:30 PM entitled "Streamlining and Coordinating Support for Rural Small Businesses."
Committee on Banking, Housing, and Urban Affairs will hold a hearing TODAY, 9/17 at 2:30 PM entitled "Back to School: Shedding Light on Risks and Harm in the Private Student Lending and Servicing Market."
Committee on Banking, Housing, and Urban Affairs will hold a hearing Wednesday, 9/18 at 2:00 PM entitled "The Macroeconomic Impacts of Potential Tax Reform in 2025."
Committee on Finance will hold a hearing TODAY, 9/17 at 10:00 AM entitled "Lower Health Care Costs for Americans: Understanding the Benefits of the Inflation Reduction Act."
Committee on the Judiciary will hold a hearing TODAY, 9/17 at 10:00 AM entitled "A Threat to Justice Everywhere: Stemming the Tide of Hate Crimes in America."
Committee on the Judiciary will hold a hearing TODAY, 9/17 at 2:00 PM entitled "Oversight of AI: Insiders’ Perspectives."
Committee on the Judiciary will hold a hearing Thursday, 9/19 at 10:00 AM entitled "Executive Business Meeting."
BILLS OF INTEREST
Check back tomorrow for possible updates.
AT THE AGENCIES
The U.S. Department of Labor
Check back tomorrow for possible updates.
The U.S. Department of the Treasury
Check back tomorrow for possible updates.
The U.S. Department of Commerce
The U.S. Department of Commerce Secretary Raimondo released a statement on Switzerland’s adequacy decision on the Swiss-U.S. Data Privacy Framework (DPF).
The U.S. Trade Representative
The U.S. Trade Representative announced in a press release that it had held its third meeting of the Trade and Investment Council with Paraguay under the United States—Paraguay Trade and Investment Framework Agreement (TIFA).
The U.S. Small Business Administration
Check back tomorrow for possible updates.
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