Week of July 22, 2024
State of Play:
President Biden has stepped down from the Presidential race. This is the first time since President Lyndon Johnson that a sitting president withdrew their candidacy for reelection. No candidate has ever withdrawn this late in the race. The change at the top of the Democratic ticket creates an historic level of uncertainty this close to the election.
President Biden immediately endorsed Vice President Kamala Harris for the Democratic nomination. In the past 24 hours many prominent Democratic figures have endorsed Harris and no one else has entered the race. Harris will likely be the Democratic candidate for President.
While Washington works to wrap its head around this monumental news, Members return to Washington for its final two weeks of session before the August recess, and the unofficial kick off to an unprecedented election season.
What to Watch:
Congress begins to examine the attempted assassination of former President Trump as new details around his security and the perpetrator come to light.
Israeli Prime Minister Benjamin Netanyahu lands in Washington, and is scheduled to address a joint meeting of Congress on Wednesday.
Long-serving Congresswoman Sheila Jackson Lee (D-TX) passed away over the weekend. Members of Congress will likely attend services over the next two weeks.
On Tap: In the middle of this Washington chaos, Congress is hosting several hearings this week to try to wrap up their summer tech priorities. The House Financial Services Committee is hosting a hearing on AI innovation in housing and the financial services industry. The House Judiciary IP Subcommittee will zoom into the International Trade Commission. Senate Homeland Security is hosting a markup of a whopping 35 bills Wednesday, including AI legislation, and the House Oversight Cyber Subcommittee looks at how to harmonize cybersecurity regulations Thursday.
Three Things to Watch In Tech:
What a Harris Presidency Would Mean for Tech: In light of President Biden withdrawing from the race, tech companies are speculating what a Harris Administration could mean for the industry. Harris has strong ties to Silicon Valley as a previous California state attorney general and U.S. Senator, and has worked in several tech issues over the years. We would expect a slightly more productive relationship on tech issues in a potential Harris Administration. As Vice President, Harris led Biden Administration efforts to encourage U.S. global leadership on advancing AI technology while also protecting consumers and civil liberties from its potential harms. Harris will likely also continue Biden Administration policies on cybersecurity following calls for international harmonization of cybersecurity in 2021. The Democratic National Convention will be held on August 19-22, where delegates will formally announce the Democratic Presidential candidate. It is unclear if Harris will face any meaningful opposition to the nomination, particularly since securing support from several prominent Democratic leaders.
House Financial Services Digs Into AI Innovation: The House Financial Services Committee is holding a hearing Tuesday morning to dive into how AI innovations are being implemented in the financial services and housing industries. The hearing falls on the heels of the Committee’s release of its bipartisan working group’s AI report, which underscores the need for appropriate oversight and consumer protection as AI's role grows. The report issued last Thursday, is a culmination of six roundtable discussions held by the working group, and examines the current and emerging uses of AI in financial services and housing, along with the associated benefits, risks, and adoption challenges. The hearing will echo the concerns outlined in the report, and Members will hear from industry representatives on the challenges and successes they have encountered in implementing AI.
House Oversight Looks to Standardize Cyber Requirements: The House Oversight Cyber Subcommittee will dive into cybersecurity regulations with industry stakeholders on how inconsistencies in cybersecurity requirements are burdensome to companies working to comply with federal regulations. Chair Nancy Mace (R-SC) announced the hearing last week, suggesting that “the White House needs to rein in unchecked agency regulators to ensure cybersecurity regulations across the federal government are coherent and consistent.” The Subcommittee is expected to highlight the need for better coordination from the President on cybersecurity measures. Cybersecurity continues to be a top priority for the Subcommittee and Congress as a whole.
What's Happening This Week:
Tech Hearings
Administration Task Force on Kids Online Health and Safety event - Monday, July 22 at 1:00 PM ET
The House Financial Services Committee will hold a hearing on “AI Innovation Explored: Insights into AI Applications in Financial Services and Housing” - Tuesday, July 23 at 10:00 AM EST
The House Judiciary Courts, Intellectual Property, and the Internet Subcommittee will hold a hearing on “IP Litigation and the U.S. International Trade Commission” - Tuesday, July 23 at 10:00 AM EST
The House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party will hold a hearing on “The Great Firewall and the CCP’s Export of its Techno-Authoritarian Surveillance State” - Tuesday, July 23 at 10:00 AM EST
The Committee on House Administration will hold a hearing on “Congress in a Post-Chevron World” - Tuesday, July 23 at 10:15 AM EST
The Senate Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations will hold a hearing on “An oversight hearing to examine how Zelle and the big banks fail to protect consumers from fraud” - Tuesday, July 23 at 3:30 PM EST
The Senate Homeland Security and Governmental Affairs Committee will hold a markup that includes cybersecurity legislation - Wednesday, July 24 at 10:00 AM EST
The House Agriculture Commodity Markets, Digital Assets and Rural Development Subcommittee will hold a hearing on “Reauthorizing the CFTC: Stakeholder Perspectives” - Thursday, July 25 at 8:30 AM EST
The House Oversight and Accountability Cybersecurity, Information Technology, and Government Innovation Subcommittee will hold a hearing on “Enhancing Cybersecurity by Eliminating Inconsistent Regulations” - Thursday, July 25, at 9:00 AM EST
Tech Events
National Institute of Standards and Technology - Virtual Meeting of the National Artificial Intelligence Advisory Committee - Monday, July 22 at 1:00 PM EST
Axios - Discussion on "Sustainable AI" - Tuesday, July 23 at 8:00 AM EST
The American Enterprise Institute for Public Policy Research - Discussion on "Free Speech Supreme Court Rulings and the Future of Digital Discourse" - Tuesday, July 23 at 1:00 PM EST
Washington Post Live - Virtual Discussion on "Cyber Landscape, Terrorism Threat and Transnational Repression" - Wednesday, July 24 at 11:30 AM EST
Alliance for Automotive Innovation - Webinar on The Importance of Intellectual Property Rights to Automotive Innovation - Wednesday, July 24 at 1:00 PM EST
The Alliance for Health Policy - 2024 AI in Health: Navigating New Frontiers Summit - Wednesday, July 24 to Thursday, July 25
Weekly Dose of Trivia:
3, 2, 1…Liftoff!
On July 24, 1950, the first successful rocket launch occurred at Cape Canaveral. The rocket, Bumper 8, was a captured German V-2 modified with a US Army Corporal second stage. Cape Canaveral’s location in the southeast is an ideal site for rocket launches in the United States. By launching eastward, rockets are able to take advantage of the linear velocity of the Earth’s rotation. This velocity is greatest towards the equator, making the southern United States preferable. And by launching towards the ocean, away from populated areas, safety downrange from the launch is maximized in case of problems.
