Prism Group's Daily Summary
AN ADDITIONAL WRINKLE IN THE ONGOING CR FIGHT... One ignored aspect of the Continuing Resolution saga is a series of so-called “CR anomalies” – provisions which adjust spending in certain accounts to avoid technical or administrative issues caused by funding the government at current levels – that Congress will seek to address. As outlined in a recent request submitted by the White House, programs which could see disruptions under a “clean” CR include the Treasury Department’s State Small Business Credit Initiative, certain SBA loan programs, and other important small business initiatives.
NFIB SURVEY ILLUSTRATES IMPACTS OF POTENTIAL TAX HIKE ON SMALL BUSINESSES... The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released two new, impactful reports regarding the federal 20% Small Business Tax Deduction, which is scheduled to expire at the end of next year. The reports illustrate what will happen to the small business economy if Congress makes the 20% Small Business Deduction permanent or if it fails to act.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Four states are in regular session. California is in special session.
WHAT WE'RE WATCHING:
Minnesota's job market saw large growth in August, adding 14,400 jobs. This marks the largest increase in two years, while wage growth outpaced inflation. Despite a slight rise in unemployment to 3.3%, the state's labor force remains robust and competitive compared to national trends.
An audit revealed that the Governor’s Office of Economic Development in Nevada mishandled oversight of pandemic relief programs, awarding over $10 million to businesses with questionable eligibility due to unpaid taxes and inactive licenses.
LAWMAKERS... IN OR OUT?
The House... convenes today at 12:00 PM. The full schedule may be found here.
The Senate... convenes today at 3:00 PM. The full schedule may be found here.
HAPPENING ON THE HILL
The House...
Committee on Ways and Means will hold a hearing Tuesday, 9/24 at 10:15 AM entitled “Reforming Temporary Assistance for Needy Families (TANF): States’ Misuse of Welfare Funds Leaves Poor Families Behind.”
Committee on Small Business's Subcommittee on Innovation, Entrepreneurship, and Workforce Development will hold a hearing Wednesday, 9/25 at 10:00 AM entitled “Avenues to Success: Examining Workforce Training Programs for Employees.”
Committee on Financial Services will hold a hearing Tuesday, 9/24 at 10:00 AM entitled “Oversight of the Securities and Exchange Commission.”
Committee on Financial Services will hold a hearing Wednesday, 9/25 at 10:00 AM entitled “Regulatory Recipe for Economic Uncertainty: The Endless Basel Endgame and an Onslaught of Hurried Rulemaking Undertaken by the Administration.”
Committee on Financial Services will hold a hearing Thursday, 9/26 at 10:00 AM entitled “How FHFA’s Political Agenda Endangers Homeowners and Taxpayers.”
Committee on Appropriations' Subcommittee on Financial Services and General Government will hold a hearing Thursday, 9/26 at 10:00 AM entitled "Oversight Hearing--United States Postal Service's Role in 2024 Election Mail Readiness."
The Senate...
Committee on the Judiciary will hold a hearing Tuesday, 9/24 at 10:00 AM entitled “‘When the President Does It, that Means It’s Not Illegal’: The Supreme Court’s Unprecedented Immunity Decision."
Committee on the Judiciary will hold a hearing Wednesday, 9/25 at 10:00 AM entitled “Nominations."
Committee on the Judiciary will hold a hearing Wednesday, 9/25 at 2:00 PM entitled “Sexual Assault in U.S. Prisons Two Decades After the Prison Rape Elimination Act."
Committee on the Judiciary will hold a hearing Thursday, 9/26 at 10:00 AM entitled "Executive Business Meeting."
Committee on Banking, Housing, and Urban Affairs will hold a hearing Wednesday, 9/25 at 10:00 AM entitled "Oversight of the U.S. Securities and Exchange Commission.”
Committee on Health, Education, Labor, and Pensions will hold a hearing Tuesday, 9/24 at 10:00 AM entitled “Why Is Novo Nordisk Charging Americans with Diabetes and Obesity Outrageously High Prices for Ozempic and Wegovy?”
Committee on Health, Education, Labor, and Pensions' Subcommittee on Employment and Workplace Safety will hold a hearing Wednesday, 9/25 at 02:00 PM entitled “Reading the Room: Preparing Workers for AI.”
Committee on Health, Education, Labor, and Pensions will hold a hearing Thursday, 9/26 at 10:00 AM entitled “Executive Session S. 2305, S. 2780, S. 4436, S. 4583, S._, Medical Graduate Investment Act, and S. 5103.”
Committee on Finance will hold a hearing Tuesday, 9/24 at 10:00 AM entitled “Chaos and Control: How Trump Criminalized Women’s Health Care.”
Committee on Finance's Subcommittee on Fiscal Responsibility and Economic Growth will hold a hearing Wednesday, 9/25 at 3:00 PM entitled “Providing Small Business Relief from Remote Sales Tax Collection.”
BILLS OF INTEREST
Check back tomorrow for possible updates.
AT THE AGENCIES
The U.S. Department of Labor
The U.S. Department of Labor announced in a press release that it awarded $12.7 million to 102 nonprofits nationwide to fund education and training initiatives designed to create safer workplaces.
The U.S. Department of Labor announced in a press release that it awarded $203m in grants to provide training and services to low-income older adults in 14 states and the District of Columbia.
The U.S. Department of the Treasury
The U.S. Department of Treasury announced in a press release that the Inter-Agency Working Group released new report on treasury market resilience efforts.
The U.S. Department of Commerce
The U.S. Department of Commerce announced in a press release that Biden-Harris Administration awarded nearly $5 million to 17 small businesses across nine states under the Small Business Innovation Research (SBIR) Program.
The U.S. Trade Representative
The U.S. Trade Representative announced in a press release that it issued a Federal Register notice announcing a docket for public comments on proposed tariff increases following the four-year review.
The U.S. Trade Representative announced in a press release that the United States and Ecuador convened the inaugural meeting of the of the Trade and Environment Committee (Committee) under the United States-Ecuador Trade and Investment Council.
The U.S. Trade Representative announced in a press release announced enforcement action under the United States-Peru Trade Promotion Agreement (PTPA) Forest Sector Annex.
The U.S. Small Business Administration
The U.S Small Business Administration announced in a press release three new Cybersecurity Pilot Program Grant recipients will receive a total of $3 million in funding through the SBA’s Cybersecurity for Small Business Pilot Program.
Was this email forwarded to you? Curious for more information?
Subscribe to EIW Today to receive the morning newsletter directly in your own inbox!
Comments