EIW Today - February 4th, 2025

1 day ago

Prism Group's Daily Summary

TWO TARIFFS ON HOLD, FOR NOW... Following discussions with leaders from Canada and Mexico, the Trump administration will temporarily pause planned tariffs on both nations, according to reports yesterday evening. Both Mexico and Canada have thirty days to implement major changes: Mexico will deploy 10,000 troops to its border with the U.S. while Canada also commits to deploy 10,000 troops to its border, as well as appoint a “fentanyl czar,” designate cartels as terrorists, and launch a Canada-U.S. Joint Strike Force to combat organized crime, fentanyl, and money laundering.

TRUMP TAKES STEPS TO CREATE U.S. SOVERIGN WEALTH FUND... The president signed an executive order Monday that kicked off the process of creating a sovereign wealth fund with the goal of generating more revenue for the government. While mentioning the fund could be used to purchase TikTok, his administration’s also notes that it can help to extend tax cuts and loosen financial regulation. While Democrats might be wary of anything on the Trump administration’s agenda amid its purges of the U.S. Agency for International Development (USAID), the FBI, the federal workforce, as well as attempts to access the treasury payment system, the idea of a U.S. sovereign wealth fund has bipartisan backing.

EDUCATION & WORKFORCE HEARING TOMORROW... Tomorrow, the House Education & Workforce Committee will hold its first hearing on “The State of American Education.” The hearing comes on the heels of an expected Executive Order that would seek to modify the structure of the Department of Education.

THE STATE OF THE STATES

SESSIONS BY THE NUMBERS:

Forty-six states are in regular session.

WHAT WE'RE WATCHING:

Gov. Josh Stein (D) announced a new $30 million grant program to help small businesses in western North Carolina recover from Hurricane Helene, with grants of up to $50,000 available. The initiative is funded by the state and Dogwood Health Trust, and covers expenses like repairs, employee retention, and environmental cleanup. Applications are open until Feb. 21 through an online portal.

Pennsylvania has awarded $592,282 in grants to seven small meat and poultry processors to help with expansion and USDA inspection costs, Agriculture Secretary Russell Redding announced. The grants are part of the Very Small Meat and Poultry Processor Reimbursement program.

LAWMAKERS... IN OR OUT?

The House... convenes today at 4:00 PM. The full schedule may be found here.

The Senate... convenes today at 11:00 AM. The full schedule may be found here.

HAPPENING ON THE HILL

The House...

Committee on Small Business will hold a hearing Wednesday, 2/5 at 10:00 AM entitled “Hope on the Horizon: Prioritizing Small Business Growth in the 119th Congress.”

Committee on Energy and Commerce Energy Subcommittee will hold a hearing Wednesday, 2/5 at 10:15 AM entitled “Powering America’s Future: Unleashing American Energy.”

Committee on Energy and Commerce Health Subcommittee will hold a hearing Thursday, 2/6 at 10:00 AM entitled “Combatting Existing and Emerging Illicit Drug Threats.”

Ways and Means Committee will hold a hearing Thursday, 2/6 at 2:00 PM entitled “Time’s Running Out: Prosecuting Fraudsters for Stealing Billions in Unemployment Benefits from American Workers.”

The Senate...

Committee on Finance will hold an executive session TODAY, 2/4 at 10:00 AM entitled “Open Executive Session to Consider Favorably Reporting the Nomination of Robert F. Kennedy, Jr., of California, to be Secretary of Health and Human Services.”

Committee on Judiciary will hold a hearing TODAY, 2/4 at 10:30 AM entitled “The Poisoning of America: Fentanyl, its Analogues, and the Need for Permanent Class Scheduling.”

Committee on Finance will hold an executive session Wednesday, 2/4 at 9:50 AM entitled “Open Executive Session to Organize for the 119th Congress.”

Committee on Small Business and Entrepreneurship will hold a hearing Wednesday, 2/5 at 10:00 AM entitled “The Committee on Small Business and Entrepreneurship will hold a Business Meeting to consider pending business of the committee.”

Committee on Banking, Housing, and Urban Affairs will hold a hearing Wednesday, 2/5 at 10:00 AM entitled “Investigating the Real Impacts of Debanking in America.”

Committee on Finance will hold a hearing Thursday, 2/6 at 10:00 AM entitled “Hearing to Consider the Nomination of Jamieson Greer, of Maryland, to be United States Trade Representative, with the rank of Ambassador Extraordinary and Plenipotentiary.”

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