Prism Group's Daily Summary
LAST WEEK TO STRIKE AN APPROPRIATIONS DEAL BEFORE END OF FY23...This week, the Senate is expected to consider a continuing resolution (CR) (H.R. 3935) to extend federal FY2023 spending to December 2023. This measure is being considered in order to prevent a government shutdown after September 30th.
The House is also scheduled to consider various spending bills (H.R. 4365, the FY2024 Defense spending bill; H.R. 4821, the FY2024 Interior, Environment, and Related Agencies spending bill; H.R. 4665, the FY2024 State, Foreign Operations, and Related Programs spending bill; and H.R. 4368, the FY2024 Agriculture, Rural Development, Food and Drug Administration, and Related Agencies).
SBA RECOGNIZES SEPTEMBER AS NATIONAL DISASTER PREPAREDNESS MONTH...The SBA is supporting FEMA and the Ready Campaign’s National Disaster Preparedness Month by dedicating the last week of September to conduct outreach to the more than 33 million small businesses across America on the importance of preparing, managing, and recovering from natural disasters, cyber threats, and even human-caused disasters.
SBA UPDATES REGULATIONS FOR LOAN REQUIREMENTS TO ACCOMMODATE THOSE WITH CRIMINAL RECORDS...SBA updates regulations to increase access to entrepreneurship for individuals with criminal records. The Small Business Administration has published a proposed rule to expand access to the 7(a) loan program, 504 loan program, Microloan program, Intermediary Lending Pilot Program, Surety Bond Guarantee program and the Disaster Loan Program (not COVID EIDL) to enable justice involved individuals to be eligible. Restrictions apply. Read more here. Comments are due by November 14, 2023.
SBA ANNOUNCES INCREASE IN LOANS FOR BLACK-OWNED, HISPANIC-OWNED & LATINO-OWNED BUSINESSES... Administrator Guzman joined Congressman Steven Horsford at the 2023 Congressional Black Caucus Foundation’s Annual Legislative Conference to announce new data showing the rate of SBA-backed loans going to Black-owned businesses has more than doubled under the Biden-Harris Administration. The data released shows 4,387 total loans, $1,308 million, and 7.5% share of loans for black-owned businesses in FY2023 (YTD). View the SBA’s press release here.
Administrator Guzman joined Congressional Hispanic Caucus (CHC) Chairwoman Nanette Barragán and other CHC members in Orlando to announce new data showing the number, rate, and share of SBA-backed loans going to Hispanic or Latino-owned businesses have all grown significantly under the Biden-Harris Administration. The data released shows 7,332 total loans, $2,813 million, and 12.2% share of loans for Hispanic and Latino-owned businesses in FY2023 (YTD). View the SBA’s press release here.
SBA’S REGULATORY FAIRNESS BOARDS MEETING THIS WEEK... The Small Business Administration's Ombudsman’s office will be hosting a public meeting of the Regional Small Business Regulatory Fairness Boards this week. The boards are comprised of five volunteer small business owners representing the various SBA regions. The regions represented and the businesses on the board can be found here.The meeting is taking place virtually on Thursday, Sept. 28, and Friday, Sept. 29 from 9:30 – 4 p.m. ET on both days. To attend, folks can email RSVPs to John Kelly at ombudsman@sba.gov.
DOL AWARDED GRANTS TO PREVENT WORKPLACE GENDER-BASED HARASSMENT... The US Department of Labor announced it has awarded more than $1.5 million in grants to prevent and respond to workplace gender-based harassment.
Days left until a potential government shutdown:
4
THE STATE OF THE STATES
WHAT WE'RE WATCHING:
Seven state legislatures are in session. Connecticut is in special session.
Vermont Governor Phil Scott's (R) administration is planning to increase aid to businesses damaged by historic floods last July, removing a $20,000 cap and allowing eligible businesses with losses under $1 million to receive reimbursements for up to 30% of their net damages. The move addresses over $120 million in unmet needs following the floodings, and will provide financial relief more quickly to businesses and nonprofits affected by the floods.
Pennsylvania Governor Josh Shapiro (D) has signed an executive order outlining the state's use of artificial intelligence, establishing standards, principles, and a governance framework for generative AI use by state agencies. The order emphasizes the responsible integration of AI into government operations; there are also plans to engage with AI innovation and research institutions to maximize AI's benefits.
LAWMAKERS... IN OR OUT?
The House... will convene today at 12:00 PM ET. For the full schedule, click here.
The Senate... will convene at 3:00 PM ET today. For the full schedule, click here.
HAPPENING ON THE HILL The House...
Committee on Small Business will hold a hearing TOMORROW, 9/27 at 10:00 AM ET titled “Action Through Innovation: Private Sector Solutions to Recouping Stolen Pandemic Loan Funds”.
Committee on Small Business Subcommittee on Rural Development, Energy, and Supply Chains will hold a hearing Thursday, 9/28 at 10:00 AM ET titled “Energy Independence: How Burdensome Regulations are Crushing Small Offshore Energy Producers”.
Committee on Financial Services will hold a hearing TOMORROW, 9/27 at 10:00 AM ET titled “Oversight of the Securities and Exchange Commission”.
Committee on Energy and Commerce Subcommittee on Environment, Manufacturing, and Critical Materials will hold a hearing TOMORROW, 9/27 at 10:00 AM ET titled "Revitalizing America Through the Reauthorization of the Brownfields Program".
Committee on Energy and Commerce Subcommittee on Innovation, Data, and Commerce will hold a hearing TOMORROW, 9/27 at 10:30 AM ET titled "Proposals to Enhance Product Safety and Transparency for Americans".
Committee on Energy and Commerce Subcommittee on Oversight and Investigations will hold a hearing Thursday, 9/28 at 10:00 AM ET titled "Investigating the Role of Electric Infrastructure in the Catastrophic Maui Fire".
Committee on Energy and Commerce will hold a hearing Thursday, 9/28 at 10:30 AM ET titled "Powering America's Economy, Security, and Our Way of Life: Examining the State of Grid Reliability".
The Senate...
Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment was scheduled to hold a hearing TOMORROW, 9/27 at 10:30 AM ET titled “The State of Flood Insurance in America”. The hearing has been postponed.
Committee on Finance will hold a hearing Thursday, 9/28 at 10:00 AM ET titled “Hearing to Consider the Nominations of Marjorie A. Rollinson, of Virginia, to be Chief Counsel for the Internal Revenue Service and an Assistant General Counsel in the Department of the Treasury, Patricia Hart Neuman, of the District of Columbia, to be a Member of the Board of Trustees of the Federal Supplementary Medical Insurance Trust Fund; to be a Member of the Board of Trustees of the Federal Hospital Insurance Trust Fund; to be a Member of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, and Demetrios L. Kouzoukas, of Virginia, to be a Member of the Board of Trustees of the Federal Supplementary Medical Insurance Trust Fund; to be a Member of the Board of Trustees of the Federal Hospital Insurance Trust Fund; to be a Member of the Board of Trustees of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund”.
BILLS OF INTEREST
Rep. Madeleine Dean (D-PA-4) introduced a bill to amend the Fair Debt Collection Practices Act to provide enhanced protection against debt collector harassment of members of the Armed Forces.
Rep. Andy Kim (D-NJ-3) introduced a bill to expand the financial, health care, and educational benefits received by Peace Corps and AmeriCorps volunteers.
Rep. Nathaniel Moran (R-TX-1) introduced a bill to amend the Workforce Innovation and Opportunity Act to authorize the use of individual training accounts for certain youth.
AT THE AGENCIES The US Department of Labor
The US Department of Labor announced the release of the 22nd edition of the “Findings on the Worst Forms of Child Labor,” which spotlights child labor abuses globally and reviews progress made by some countries to meet their international commitments to eliminate abuses.
The US Department of the Treasury
The US Department of the Treasury announced it has targeted Sinaloa Cartel fentanyl trafficking operations and a Colombian cartel leader, which included the sanctioning of ten individuals associated with trafficking operations.
The US Department of Commerce
The US Department of Commerce announced Deputy Secretary of Commerce Don Graves concluded his official travel to Seoul, South Korea, last week. He had been leading a 15-company U.S. Cybersecurity Business Development delegation in a series of meetings with senior Korean government officials and U.S. and Korean private sector and industry association leaders.
The US Trade Representative
United States Trade Representative Katherine Tai announced that the United States has asked Mexico to review whether workers at the Teklas Automotive facility in Aguascalientes are being denied the right to freedom of association and collective bargaining.
The US Small Business Administration
The US Small Business Administration announced new data showing the number, rate, and share of SBA-backed loans going to Hispanic or Latino-owned businesses have all grown significantly since 2021.
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