Prism Group's Daily Summary
TAX RELIEF BILL ON ITS LAST LEGS - BUT STILL ALIVE... Senate Majority Leader Chuck Schumer recently told reporters that the Wyden-Smith tax package is not dead, suggesting he may bring the House-passed legislation to the floor in the weeks leading up to elections. Whether he does so may largely depend on how much floor time is available – between the upcoming August recess, focus on campaigning, confirmation votes, and ongoing negotiations over federal spending bills, he could conclude that a failed “messaging” vote is simply not worth the time.
AS HURRICANE SEASON BEGINS, HERE'S HOW SMALL BUSINESSES CAN PREPARE IN ADVANCE OF A STORM... The hurricane season roared into the U.S. with Hurricane Beryl hitting Texas in early July, surprising many business owners accustomed to seeing big storms arrive later in the summer. With the National Oceanic and Atmospheric Administration predicting an above-average storm season this year, small businesses need to be prepared.
TODAY: SBA TO DISCUSS BENEFICIAL OWNERSHIP INFORMATION AND HOW TO REPORT... Today, July 24th, SBA’s National Ombudsman Michele Schimpp and the U.S. Treasury Department’s FinCEN are hosting a virtual event on Beneficial Ownership Information reporting requirements for small businesses. Register for the 45-minute event here.
THE STATE OF THE STATES
SESSIONS BY THE NUMBERS:
Six states are in regular session.
WHAT WE'RE WATCHING:
Governor Tony Evers (D) announced that Wisconsin achieved record highs in employment and total non-farm jobs for June 2024, according to estimates from the U.S. Bureau of Labor Statistics. The state's unemployment rate remained steady at 2.9%, significantly lower than the national rate. The news comes amid the success of ongoing strategic investments in workforce development.
New research from Ball State University shows that high childcare costs and low availability are significantly impacting women's workforce participation in Indiana, with financial barriers making it unrealistic for many families to afford childcare.
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 Energy & Commerce's Energy, Climate, and Grid Subcommittee will hold a hearing on TODAY, 7/24 at 10:00 AM entitled “The Fiscal Year 2025 Federal Energy Regulatory Commission Budget.”
Committee on Small Business's Subcommittee on Oversight, Investigations, and Regulations will hold a hearing on TODAY, 7/24 at 10:00 AM entitled “Executive Overreach: Examining the SBA’s Electioneering Efforts with Associate Administrator of Office of Field Operations, Jennifer Kim.”
Committee on Financial Services will hold a hearing on TODAY, 7/24 at 10:30 AM entitled “Housing Solutions: Cutting Through Government Red Tape.”
The Senate...
Committee on Banking, Housing, and Urban Affairs will hold a hearing Thursday, 7/25 at 10:00 AM entitled “Advancing National Security through Export Controls, Investment Security, and the Defense Production Act.”
Committee on Health, Labor, Education, and Pension will hold a hearing Thursday, 7/25 at 10:00 AM entitled “HELP Committee Agenda to be Considered.”
Committee on Appropriations will hold a hearing Thursday, 7/25 at 9:30 AM entitled “Full Committee Markup of the Commerce-Justice-Science, State and Foreign Operations, and Transportation-Housing and Urban Development Appropriations Acts.”
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 more than $2M in funding to support disaster recovery in Texas after severe storms.
The U.S. Department of Labor announced in a press release more than $1M in funding to provide employment and training services for workers affected by mass Tesla layoffs in Texas.
The U.S. Department of the Treasury
The U.S. Department of the Treasury announced in a press release up to $667 million in planned contributions to the pandemic fund, supporting pandemic prevention, preparedness, and response.
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 a new program to help raise capital for small businesses leading the clean energy transition.
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