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EIW Today - June 12th, 2024

Prism Group's Daily Summary



FSGG BILL SEEKS TO REIN IN CTA…Last week House Republicans unveiled text of their Financial Services and General Government bill, which included an interesting policy rider. Section 132 of the legislation states that no appropriated funds may be used to enforce “beneficial ownership reporting rules…that have been found by a Federal court to be unconstitutional,” a reference to the Corporate Transparency Act and the ongoing legal challenge led by the National Small Business Association. Prism Group will be watching Thursday’s committee markup on the FSGG with an eye towards this and other key provisions. 


CANTWELL, MORAN INTRODUCE BILL TO HELP SMALL BUSINESS LEVERAGE AI TOOLS… U.S. Senator Maria Cantwell (D-Wash.), Chair of the Senate Committee on Commerce, Science and Transportation, and U.S. Senator Jerry Moran (R-Kan.), a senior member of the Committee, today introduced the bipartisan Small Business Artificial Intelligence Training and Toolkit Act of 2024 that would authorize the U.S. Department of Commerce (DOC) to work with the Small Business Administration (SBA) to create and distribute artificial intelligence (AI) training resources and tools to help small businesses leverage AI in their operations. 


AS RATE CUTS ARE DEBATED, INFLATION DROPS SLIGHTLY IN NEW REPORT… Inflation showed slight improvement in May, with prices rising 3.3 percent over the year compared to 3.4 percent in April, according to a new report from the Bureau of Labor Statistics. This decline will be closely analyzed by the Federal Reserve, which is expected to hold interest rates steady at their highest level since 2001 as they conclude their policy meeting. 


HOUSE TO HOLD HEARING ON NLRB OVERREACH…Today, the House Subcommittee on Health, Employment, Labor, and Pensions will hold a hearing examining claims of NLRB overreach that “weaken the rights of working Americans.” Subcommittee Chair Bob Good (R-VA), a prominent critic of organized labor, will reside over the hearing.   


WORKFORCE REAUTHORIZATION HEARING IN THE SENATE…Today, the Senate Health, Education, Labor, and Pensions (HELP) will hold a hearing examining the Workforce Innovation & Opportunity Act (WIOA) as reauthorization efforts continue. In April, the House passed A Stronger Workforce for America Act (ASWA), which reauthorizes WIOA, on a 378-26 bipartisan vote. Senate negotiations have been less fruitful due to clashing priorities and the upcoming 2024 elections. 


UPCOMING INTELLECTUAL PROPERTY HEARING IN THE HOUSE...The House Judiciary Subcommittee on Courts, Intellectual Property, and the Internet will hold a hearing titled “"The U.S. Intellectual Property System and the Impact of Litigation Financed by Third-Party Investors and Foreign Entities” TODAY, June 12th, at 2:00pm ET. The hearing will be focused on the role intellectual property plays in national security.  

 

 

THE STATE OF THE STATES 

SESSIONS BY THE NUMBERS: 

Eleven states are in regular session. South Carolina is in a special session.  

 

WHAT WE'RE WATCHING: 

Connecticut Gov. Ned Lamont (D) signed a new law eliminating college degree requirements for the majority of state government jobs. About 60% of Connecticut adults do not have a college degree, but many are qualified to work for the state of Connecticut; the legislation aims to mitigate barriers to acquiring state jobs. 

 

As the federal government continues to be at a standstill with AI regulations, a number of state legislatures have passed laws to regulate the emerging technology. Last month, the California legislature moved about 30 bills on AI forward in a move to protect consumers and the workforce. 

 

  

LAWMAKERS... IN OR OUT? 

The House... convenes today at 9:00 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 Financial Services will hold a hearing on TODAY 6/12 at 10:00 AM entitled “Oversight of the FDIC’s Failed Leadership and Toxic Workplace Culture.” 

Committee on Financial Services will hold a hearing on THURSDAY 6/13 at 10:00 AM entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” 

Committee on Ways & Means Trade Subcommittee will hold a hearing on TODAY 6/12 at 1:15 PM entitled “Looking Beyond 2025 for Trade with Sub-Saharan Africa, Haiti, and others.” 

Committee on Ways & Means Trade will hold a hearing on THURSDAY 6/13 at 10:00 AM entitled “Crisis on Campus: Antisemitism, Radical Faculty, and the Failure of University Leadership.” 

 Committee on Energy & Commerce Environment, Manufacturing, & Critical Minerals Subcommittee will hold a hearing on THURSDAY 6/13 at 10:30 AM entitled “Securing America’s Critical Materials Supply Chains and Economic Leadership.” 

 

The Senate...   

Committee on Banking, Housing & Urban Affairs will hold a hearing on TODAY 6/12 at 9:45 AM entitled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” 

Committee on Help, Education, Labor & Pensions will hold a hearing on TODAY 6/12 at 10:00 AM entitled “The Workforce Innovation and Opportunity Act: Supporting Efforts to Meet the Needs of Youth, Workers, and Employers.” 

 Committee on Help, Education, Labor & Pensions Employment & Workplace Safety Subcommittee will hold a hearing on TODAY 6/12 at 10:00 AM entitled “Digging Deeper: Building Our Critical Minerals Workforce.” 

Committee on Appropriations Subcommittee will hold a closed hearing on TODAY 6/12 at 10:00 AM entitled “CLOSED: A Review of the President’s Fiscal Year 2025 Budget Request for the Central Intelligence Agency and the National Security Agency.” 

Committee on Appropriations Subcommittee will hold a hearing on THURSDAY 6/13 at 10:00 AM entitled “A Review of the President’s Fiscal Year 2025 Budget Request for the U.S. Securities and Exchange Commission and the Commodity Futures Trade Commission.” 

Committee on Finance will hold a hearing on TODAY 6/12 at 10:00 AM entitled “Youth Residential Treatment Facilities: Examining Failures and Solutions.”  

Committee on Judiciary will hold a hearing on TODAY 6/12 at 10:00 AM entitled “Combatting the Youth Vaping Epidemic by Enhancing Enforcement Against Illegal E-Cigarettes.” 

Committee on Judiciary will hold a hearing on TODAY 6/12 at 2:00 PM entitled “Crossing the Line: Abortion Bans and Interstate Travel for Care After Dobbs.” 

Committee on Judiciary will hold a hearing on THURSDAY 6/13 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 

The U.S. Department of Labor released a statement announcing the recovery $253,000 for 19 restaurant workers in Albuquerque, New Mexico.  

The U.S. Department of Labor released a statement announcing the recovery in back wages and damages for landscaping, installation workers in Long Island, New York. 

The U.S. Department of the Treasury 

The U.S. Department of Treasury announced in a press release the targeting of companies and vessels behind illicit Houthi shipments. 

The U.S. Department of Commerce 

The U.S. Department of Commerce announced in a press release the Biden-Harris Administration agreed in terms to expand production of semiconductors with Rock 

The U.S. Trade Representative  

Check back tomorrow for possible updates. 

 The U.S. Small Business Administration 

The U.S. Small Business Administration’s Secretary Isabel Guzman announced in a press release the extension of moratorium 8(a) eligibility requirement for small disadvantaged businesses.   

  

The U.S. Small Business Administration’s Secretary Isabel Guzman announced in a press release a $30 million in grant funding for new Women Business centers.  

 

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