Week of March 27, 2023
If you think that spending a sunny afternoon at the ballpark is preferable to video conferences and committee hearings, then this is the week to give thanks, as Opening Day for your favorite baseball team is upon us! March Madness is all fine and good, but baseball is still the American pastime.Alas, the torrid pace of the 118th Congress is not going to permit any of us to catch Thursday’s home opener at Nationals Park. The House continues with its packed hearing schedule following last week’s record-setting agenda that included 42 committee hearings! The proverbial gauntlet has been thrown, and the House Appropriations Committee has responded with a schedule that includes 28 hearings this week.The fintech world will be closely watching a couple of this week’s hearings, as SEC chairman Gary Gensler is set to testify on his agency’s budget request, and the Fed, FDIC, and Treasury have witnesses before both the Senate Banking and House Financial Services Committees for hearings on federal regulators' response to recent bank failures.
What We’re Watching:
House E&C Targets Big Tech Censorship: Coming off the House Energy and Commerce intense interrogation with TikTok CEO Shou Chew, the Subcommittee on Communications and Technology is continuing the drum beat against big tech.
Witnesses include Seth Dillon from The Babylon Bee, Michael Shellenberger, and Dr. Jay Bhattacharya. The focus of the hearing is expected to largely revolve around claims that internet platforms have censored conservative voices.
The Administration’s Cloud Competition Concerns: The FTC announced on March 22 that it would be accepting public comments to gather information on the business practices of cloud computing providers including issues related to the market power of these companies, impact on competition, and potential security risks. The announcement falls on enhanced scrutiny in the cloud computing industry from the White House’s Office of the National Cyber Director, as it weighs creating regulatory structure for critically-held information.
Agencies Prepare More Guidance for CHIPS Funding: CHIPS implementation is getting underway with the first round of funding applications accepted as early as the end of this week. In addition to the laundry list of requirements for applicants to consider from childcare to commercial viability, the Department of Commerce released additional proposed requirements on national security concerns. The proposed rule would limit recipients of funding from investing in the expansion of semiconductor manufacturing in foreign countries of concern. In coordination with the Commerce’s announcement, the Treasury also released a proposed rule with guidance on issuing the Advanced Manufacturing Investment Tax Credit, which outlines claw back processes for funding if national security concerns are breached. Following these proposed rules, a group of 13 Republican Senators, led by Senator Ted Cruz (R-TX), sent a letter to Commerce Secretary Gina Raimondo urging her to reconsider these “superfluous and partisan provisions.”
What’s Happening This Week:
Tech Hearings
House Energy and Commerce Subcommittee hearing on big tech censorship - Tuesday, March 28 at 10:30 AM ET
Senate Banking hearing on bank regulations - Tuesday, March 28 at 10:00 AM ET
House Small Business Subcommittee hearing on the CFPB’s small business lending data collection - Tuesday, March 28 at 10:00 AM ET
Senate Judiciary oversight hearing of DHS - Tuesday, March 28 at 10:00 AM ET
House Energy and Commerce Subcommittee hearing on health care competition - Tuesday, March 28 at 1:00 PM ET
Senate Armed Services Cybersecurity Subcommittee hearing on enterprise cybersecurity to protect DOD IT - Wednesday, March 29 at 9:30 AM ET
House Financial Services hearing on bank regulations - Wednesday, March 29 at 10:00 AM ET
House Oversight and Accountability Government Operations and the Federal Workforce Subcommittee hearing on "Login.gov Doesn't Meeting the Standard" - Wednesday, March 29 at 2:00 PM ET
House Armed Services Subcommittee hearing on cyberspace operations - Thursday, March 30 at 8:30 AM ET
Tech Events
The Justice Department's Antitrust Division and the Federal Trade Commission - Annual Spring Enforcer's Summit - Monday, March 27 at 9:00 AM ET
The Center for Strategic and International Studies - "We Hold These Truths: How Verified Content Defends Democracies" - Monday, March 27 at 9:00 AM ET
The Heritage Foundation - "Winning the New Cold War: A Plan for Countering China" - Tuesday, March 28 at 9:00 AM ET
The Government Executive Media Group - "The Results Are In: Key Trends in Federal Cybersecurity Investment" - Tuesday, March 28 at 11:00 AM ET
The U.S. Chamber of Commerce - "Future of Data in K-12 Education" - Tuesday, March 28 at 1:00 PM ET
Computer and Communications Industry Association - Merger Control in Dynamic Markets – Roadmap for the Future? - Wednesday, March 29 at 12:15 PM ET
Government Executive Media Group - "Building Your Modernization Roadmap" - Wednesday, March 29 at 1:00 PM ET
CoinDesk - Webinar on Web3 Developments - Thursday, March 30 at 12:00 PM ET
Venable - Practices for Combating Unauthorized Scraping - Thursday, March 30 at 2:00 PM ET
What’s Interesting This Week:
Let there be light!... On March 31, 1880, Wabash, Indiana became the first city in the world to be completely illuminated by electric lighting. And the light was good.
