Prism Group's Daily Summary
YEAR-END TAX POLICY AGENDA NARROWS... With a House-passed tax relief bill stalled indefinitely in the Senate, the chances of broad tax legislation moving before year’s end are significantly diminished. Instead, expect the discussion to center on narrow provisions with bipartisan backing such as international trade pacts, disaster relief, and possibly a deal on the 1099-K reporting threshold.
WALL STREET SKEPTICAL OF AI UPSIDE... Despite early excitement, skepticism around A.I.'s long-term value has led to a reassessment of its staggering costs, with Goldman Sachs’ A.I. stock basket dropping 7% since its July peak. Jim Covello, head of stock research at Goldman, questions whether the potential $1 trillion in A.I. investments will deliver sufficient returns. His doubts, echoed by a Sequoia Capital partner, have tempered Wall Street's enthusiasm for the technology, signaling hesitance in the ongoing A.I. race.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Four states are in regular session. California is in special session.
WHAT WE'RE WATCHING:
South Carolina's labor force saw a slight dip in workers for August, with 537 fewer people employed than in July. Nonetheless, the state's workforce remains near record highs, bolstered by significant population growth and a rising labor force participation rate.
Four organizations in Massachusetts are set to receive $1.4 million in grants to support the early childhood education workforce. The money will fund initiatives such as registered apprenticeship programs, which seek to reduce high turnover and improve pay in the sector.
LAWMAKERS... IN OR OUT?
The House... convenes today at 10:00 AM. 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 Ways and Means will hold a hearing TODAY, 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 TODAY, 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 TODAY, 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 TODAY, 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 TODAY, 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 more than $7.4 million to support continued disaster-relief employment and workforce training for California residents affected by severe winter storms that occurred in late 2022 and early 2023.
The U.S. Department of the Treasury
The U.S. Department of Treasury announced in a press release that it awarded over $9 million to the Michigan Economic Development Corporation to help small auto manufacturers and suppliers grow and hire.
The U.S. Department of Commerce
Check back tomorrow for possible updates.
The U.S. Trade Representative
Check back tomorrow for possible updates.
The U.S. Small Business Administration
The U.S Small Business Administration announced in a press release that the federal agency will cohost two events alongside Women Impacting Public Policy (WIPP) and American Express (AMEX) this fall as a continuation of the 2024 National ChallengeHER road tour.
Was this email forwarded to you? Curious for more information?
Subscribe to EIW Today to receive the morning newsletter directly in your own inbox!
Comentarios