WEEK OF SEPTEMBER 23, 2024

Countdown to Shutdown

State of Play: 

  • This week marks the last week Congress is in session ahead of the November election. 

Driving the News: 

  • The House and Senate issued a new stopgap funding measure over the weekend that will keep the government running through December 20, setting the stage for a holiday funding showdown. 

  • The House is expected to pass the continuing resolution on Wednesday, with the Senate expecting to pass it shortly thereafter to send it to the president before the September 30th deadline.

Election Update: 

  • Presidential candidates Vice President Kamala Harris and Former President Donald Trump are out with new policy positions.

    • Harris has signaled support for AI and digital assets innovation, a departure from the current Administration and a win for crypto-friendly Democrats. 

    • Trump issued a statement outlining support for a temporary cap on credit card interest rates.

  • There are just 43 days left before the election.

Three Things to Watch In Tech:

  1. Senate Judiciary to Markup Patent Legislation: This week, the Senate Judiciary Committee is expected to markup patent legislation that would have significant impacts for tech companies’ intellectual property. The three bills include the PREVAIL Act, the Patent Eligibility Restoration Act (PERA), and the IDEA Act. 

    1. The PREVAIL Act would alter the procedures of the Patent Trial and Appeal Board (PTAB), undermining the ability of companies to justify their patent claims. 

    2. PERA would overturn the Supreme Court cases Alice and Mayo, and broaden the scope of patent subject matter eligibility. 

    3. It is unclear whether the bills will garner enough support to pass out of Committee, but in any case there is no path forward for these bills this year. 

  2. What’s Next for KOSA and COPPA 2.0: The House Energy and Commerce Committee last week hurriedly passed the Kids Online Safety Act (KOSA) and the Children and Teens Online Privacy Protection Act (COPPA 2.0). Despite significant opposition from both parties on the revised KOSA bill that was released hours before the markup, both bills passed the committee by voice vote. 

    1. Members expressed concern that the House-version of KOSA does not go far enough to protect kids online in the updated duty of care provision. 

    2. While committee passage of both bills is a significant step, the path to final passage, especially for KOSA, is very unclear given ire from both Democrats and Republicans, and its differences from the Senate-passed KOSPA legislation.

    3. House Leadership has not indicated a path forward for the current versions of the bill. 

  3. House and Senate to Hold SEC Oversight Hearings: The House Financial Services Committee and the Senate Banking Committee will hold oversight hearings of the Securities and Exchange Commission (SEC) this week. Financial Services will hear from SEC Chair Gary Gensler along with several other Commissioners, which is a departure from the Senate approach to hearing from Gensler alone. 

    1. The House has expressed frustrations with the SEC’s regulation by enforcement actions against fintech companies and digital assets, as well as its overreach in regulation of capital markets. 

    2. The Senate, however, has lauded Gensler's approach against Wall Street in the name of consumer protections. 

    3. The hearings will allow Members to also demonstrate their priorities ahead of the election, as this will be Gensler's last appearance on Capitol Hill before Members leave to campaign. 

What's Happening This Week?

Tech Hearings:

  • The House Financial Services committee will hold a hearing on the “Oversight of the Securities and Exchange Commission” - Tuesday, September 24 at 10:00 AM EST

  • The Senate Foreign Relations East Asia, the Pacific and International Cybersecurity Policy Subcommittee will hold a hearing on "Cyberspace Under Threat in the Era of Rising Authoritarianism and Global Competition" - Tuesday, September 24 at 10:00 AM EST

  • The House Oversight and Accountability will hold a hearing on “Defending America from the Chinese Communist Party’s Political Warfare, Part III” - Tuesday, September 24 at 10:00 AM EST

  • The House Homeland Security Cybersecurity and Infrastructure Protection Subcommittee will hold a hearing on "An Outage Strikes: Assessing the Global Impact of CrowdStrike's Faulty Software Update" - Tuesday, September 24 at 2:00 PM EST

  • The Senate Banking, Housing, and Urban Affairs Committee will hold an oversight hearing to examine the Securities and Exchange Commission - Wednesday, September 25 at 10:00 AM EST

  • The Senate Health, Education, Labor and Pensions Employment and Workplace Safety Subcommittee will hold a hearing on "Reading the Room: Preparing Workers for AI" - Wednesday, September 25 at 2:00 PM EST

Tech Events:

Weekly Meme:

Reply

or to participate

Keep Reading

No posts found

© 2025 Franklin Square Group Tech Weekly.

Privacy policy

Terms of use

Powered by beehiiv