Auctoritas

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Status: Scheduled

<p>Today, the Education and Workforce Committee held the first<strong> </strong><a href="https://edworkforce.house.gov/calendar/eventsingle.aspx?EventID=412984"><strong>hearing</strong></a><strong> </strong>in a series examining how Artificial Intelligence (AI) is impacting the workforce, job training, and education.&nbsp;<br /> &nbsp;<br /> <a href="https://edworkforce.house.gov/uploadedfiles/walberg_ai_opening_statement.pdf"><strong>Chairman Tim Walberg (R-MI)</strong></a>&nbsp;started the hearing by highlighting how AI is already impacting today’s world.&nbsp;<br /> <br /> “AI tools are already helping teachers reduce administrative burdens, better personalize learning, and free up more time to engage directly with students. For workers, AI can help build new skills, increase efficiency, and accelerate on-the-job learning. As a result, employers can expect productivity gains that contribute to economic growth,” he said.&nbsp;&nbsp;</p> <p style="text-align: center;"><img alt="" height="333" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/_compresseds/076758f8-ead7-d944-6073-f7fe0b40d2c0.jpg" width="500" /></p> <p><strong>Rep. Joe Wilson (R-SC)&nbsp;</strong>asked&nbsp;<a href="https://edworkforce.house.gov/uploadedfiles/adeel_khan_testimony_final.pdf"><strong>Mr. Adeel Khan,&nbsp;Founder &amp; CEO of MagicSchool AI</strong></a>, about how to protect students’ data as well as how to ensure they are still able to think critically when using AI. “We believe…that if a student isn’t introduced to generative AI in a school building, they will inevitability be introduced to generative AI in a different way…I think everyone in this room would agree that you’d prefer the first time a child interacts with generative AI it’s under the guidance of a teacher who’s teaching them about how it works, [and] the risks and benefits of using generative AI,” Mr. Khan explained.&nbsp;&nbsp;</p> <p style="text-align: center;">&nbsp;<img alt="" height="333" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/_compresseds/707298fa-6735-7445-99a1-8683e5563233.jpg" width="500" /></p> <p><strong>Rep. Rick Allen (R-GA)&nbsp;</strong>asked how AI is addressing the issue of affordability. “The University of Texas at Houston Health System used AI to predict when folks were going to miss their appointments. They saved $250,000 in one quarter. Many Americans can’t afford health care—we should be exploring…how we can automate and improve scribing&nbsp;and so many activities that increase our medical costs,” said<strong>&nbsp;</strong><a href="https://edworkforce.house.gov/uploadedfiles/kevin_frazier_testimony_final.pdf"><strong>Mr. Kevin Frazier,&nbsp;AI Innovation &amp; Law Fellow at the University of Texas Law School</strong></a><strong>.</strong><br /> &nbsp;<br /> <a href="https://edworkforce.house.gov/uploadedfiles/chaya_nayak_testimony_final.pdf"><strong>Ms. Chaya Nayak, Head of Certifications and Jobs Platform, Open AI</strong></a><strong>, </strong>told&nbsp;<strong>Rep. Bob Onder (R-MO)</strong>&nbsp;the benefits they are seeing in classrooms that use AI.&nbsp;“A study from Harvard University found that a physics class that had a tailored curriculum that was focused on using ChatGPT…doubled [student] engagement and actually improved their problem-solving skills,” she said.&nbsp;</p> <p style="text-align: center;">&nbsp;<img alt="" height="333" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/_compresseds/992283a8-de3c-7dcc-8e65-58c9b82cad82.jpg" width="500" /></p> <p><strong>Rep. Mary Miller (R-IL)&nbsp;</strong>asked&nbsp;Ms. Nayak&nbsp;how AI can be used to help train workers for the modern workforce rather than displace them.&nbsp;“What we are doing is providing a foundation of certifications, we’re partnering with governments, we’re partnering with employers to think about how those certifications can enter into their workflow…[and] lead to jobs,” Ms. Nayak explained.</p> <p style="text-align: center;">&nbsp;<img alt="" height="333" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/_compresseds/3f73ac06-b639-0ba2-4cd9-37ffb0e71d70.jpg" width="500" /></p> <p><strong>Rep. Glenn “GT” Thompson (R-PA)&nbsp;</strong>asked how AI can help students with disabilities. “When AI is informed with the needs of the child…the interaction they have with the technology can be even more personalized to the needs that they have,” explained Mr. Khan.<br /> <br /> <strong>Bottom line:</strong>&nbsp;Committee Republicans are looking at ways AI can expand opportunity, productivity, and skills training while setting clear expectations for safety, privacy, and accountability.</p>

<div> <div> <div> <div>Today, Education and Workforce Committee Chairman Tim Walberg (R-MI) issued the following statement&nbsp;after&nbsp;President Trump signed&nbsp;<a href="https://www.congress.gov/bill/119th-congress/senate-bill/222/text" target="_blank">S.222, the&nbsp;<em>Whole Milk for Healthy Kids Act of 2025</em></a>, into law:<br /> <br /> </div> <em>“This notion that whole milk consumption is linked to childhood obesity is deeply flawed. In fact, many school children are at risk of dairy underconsumption—not overconsumption. Whole milk is a preferred choice that provides essential nutrients that support healthy growth and developing minds. I’m glad to see this administration taking steps to align nutrition standards with what modern science and research clearly show.”</em></div> <div style="text-align: center;"><br /> ###<br /> </div> </div> </div>

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<div>Today, Education and Workforce Committee Chairman Tim Walberg (R-MI) delivered the following statement, as prepared for delivery, at the first&nbsp;<a href="https://edworkforce.house.gov/calendar/eventsingle.aspx?EventID=412984" target="_blank" title="https://edworkforce.house.gov/calendar/eventsingle.aspx?EventID=412984">hearing</a>&nbsp;in a series examining artificial intelligence, titled<strong>&nbsp;"Building an AI-Ready America"</strong>:<br /> <br /> <em>"Artificial intelligence is scaling rapidly, and as a result, it is increasingly shaping how we learn, how we work, and how we prepare for the future. Today’s hearing examines AI and its growing role in education, workforce development, and the future of work.<br /> <br /> "Artificial intelligence is often described as a sudden disruption, but many of its underlying technologies have existed for decades. What has changed is the scale and accessibility of these tools. Rapid advancements have made AI systems easier to use and more widely available—reaching classrooms, workforce training programs, and workplaces across the country.<br /> <br /> "AI’s potential benefits are significant. AI tools are already helping teachers reduce administrative burdens, better personalize learning, and free up more time to engage directly with students. For workers, AI can help build new skills, increase efficiency, and accelerate on-the-job learning. As a result, employers can expect productivity gains that contribute to economic growth. An estimated 40 percent of GDP could be significantly affected by generative AI, which could mean a permanent increase in economic activity.<br /> <br /> "That said, AI growth is not without challenges. Models can make mistakes. In education, that raises concerns about academic integrity and overreliance. In the workforce, early evidence suggests AI may change how tasks are performed, particularly for entry-level roles, which underscores the need for strong pathways into the labor market and strong skills development. It is also important to recognize that many labor laws and regulations have not kept pace with how quickly work is changing, and they too often make it harder for businesses to offer benefits and flexibility.&nbsp;<br /> <br /> "With the rapid pace of technological change, workers are seeking greater freedom and flexibility in how they work. This highlights the need for clearer standards for independent work and more flexible benefit models that better serve a modern, mobile workforce. Today, more than 70 million workers operate as self-employed independent contractors, yet the federal government too often does not provide the statutory clarity that these workers need and deserve. In our current age of rapid technological growth, including AI-related development, our policies must adapt to the growing role of independent work.&nbsp;<br /> <br /> "As this Committee considers AI, we must recognize that many existing education and workforce policies were designed for a different era. The goal should not be to rush into sweeping new rules and regulations, but to ensure schools, employers, and training providers can keep pace with innovation while maintaining trust and prioritizing safety and privacy.<br /> <br /> "U.S. leadership in AI is pivotal to the nation’s economic success and security. The Trump administration understands that this leadership requires an AI-ready workforce supported by strong classroom instruction and on-the-job learning that make the most of cutting-edge technology.&nbsp;&nbsp;<br /> <br /> "Today we have the opportunity to better understand how AI is being and could be used in education and workforce systems, where it is delivering value, and where challenges remain."</em></div> <div style="text-align: center;"><br /> ###<br /> </div>

2261 Rayburn Office Building<br /> <a href="https://youtube.com/live/RM0aq5ynUiQ?feature=share">Watch</a>

<span style="font-size: 16px;">Click <a href="https://www.youtube.com/live/0S1FZGMbE0s?si=j8WY3juYMBfkPEXU">here</a>&nbsp;to view the livestream of this hearing.<br /> <br /> </span> <p><span style="font-size: 16px;">Click&nbsp;<a href="http://docs.house.gov/meetings/BA/BA10/20260114/118818/HHRG-119-BA10-20260114-SD002.pdf">here&nbsp;</a>to view the livestream of this hearing.</span><br /> <br /> Witnesses:<br /> </p> <ul> <li><strong>The Honorable Chris Pilkerton,&nbsp;</strong><strong>&nbsp;</strong><small><span style="font-size: 16px;">Assistant Secretary for Investment Security, U.S. Department of the Treasury</span></small></li> </ul> <br /> <br />

Status: Scheduled

<p>Today, members examined how the&nbsp;Committee on Foreign Investment in the United States&nbsp;(CFIUS) is using its authority under the Foreign Investment Risk Review Modernization Act (FIRRMA), to review certain foreign investments to make sure they don’t threaten U.S. national security, especially in sensitive tech, infrastructure, and data.&nbsp;&nbsp;</p> <p><strong>On CFIUS’s Role In National Security:</strong></p> <p>"Ensuring that our processes are efficient and effective means investment screening must be transparent and clear for our friends and fellow citizens to comply with, and difficult for our adversaries to exploit,”<strong>&nbsp;<a href="https://x.com/FinancialCmte/status/2011457328302723088?s=20" rel="noopener noreferrer" target="_blank">said</a>&nbsp;National Security, Illicit Finance, and International Financial Institutions Subcommittee Chairman Davidson (OH-08).</strong> <br /> </p> <p>“CFIUS continues to evolve to address national security threats from abroad. At the same time, CFIUS’s narrow mission supports the confidence investors have in the openness and integrity of the U.S. economy. As with any national security program, ongoing oversight and evaluation of CFIUS’s effectiveness are essential duties for the members of congress and particularly this committee,”<strong>&nbsp;<a href="https://x.com/FinancialCmte/status/2011460369236058389?s=20" rel="noopener noreferrer" target="_blank">said</a>&nbsp;Chairman French Hill (AR-02).</strong></p> <p><strong>On Economic Growth Throughout Investments:</strong> <br /> </p> <p><strong>Subcommittee on Financial Institutions Chairman Andy Barr (KY-06)&nbsp;<a href="https://x.com/FinancialCmte/status/2011470905851940901?s=20" rel="noopener noreferrer" target="_blank">said</a>,</strong>&nbsp;“As of early 2026, President Trump had announced up to $9 trillion in total foreign direct investment commitments that he negotiated. Just as an example, UAE $1.4 trillion investment framework. Qatar, $1.2 trillion. Japan $550 billion in key industries including energy and AI infrastructure investments. Saudi Arabia $600 billion investments in trade over four years, later expanded to almost a trillion. South Korea pledged $350 billion in investment, with an additional commitment to purchase $100 billion in U.S. energy products. The President has been remarkably successful in just 12 months’ time to negotiate massive amounts of foreign direct investment in the United States.”</p> <p><strong>Small Business Committee Chairman Roger Williams (TX-25)&nbsp;<a href="https://x.com/FinancialCmte/status/2011477570936811990?s=20" rel="noopener noreferrer" target="_blank">said</a>,</strong>&nbsp;“The United States has long benefited from being the world's top destination for foreign investment. And that openness has helped drive jobs, innovation, and economic growth. And at the same time, we face increasingly sophisticated threats from adversarial nations that seek to exploit our openness to gain a strategic advantage.”</p> <p><strong>On Foreign Investment and Ownership Concerns:</strong></p> <p><strong>Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity Chairman Frank Lucas (OK-03)&nbsp;<a href="https://x.com/FinancialCmte/status/2011467281709011065?s=20" rel="noopener noreferrer" target="_blank">said</a>,&nbsp;</strong>“The topics you deal with are some that I've been concerned about for the better part of a decade. Specifically, the issue of ownership of key agricultural equities like land and infrastructure by foreign adversaries, has continued to raise alarm bells across the country. That's why I introduced the bipartisan Agricultural Risk Review Act to add the Secretary of Agriculture as a permanent member of CFIUS for any transaction relating to the AG industry, and require CFIUS to initiate reviews of threats notified by USDA.”</p> <p><strong>Assistant Secretary Pilkerton Echoed the Work of the Committee:</strong></p> <p><strong>Assistant Secretary of the Treasury for Investment Security the Honorable Chris Pilkerton&nbsp;<a href="http://docs.house.gov/meetings/BA/BA10/20260114/118818/HHRG-119-BA10-Wstate-PilkertonC-20260114.pdf" rel="noopener noreferrer" target="_blank">said</a>,</strong>&nbsp;“First and foremost, CFIUS’s core priority remains assessing and addressing any national security risks that arise from transactions that fall within its jurisdiction. By evaluating these potential threats from adversarial actors, the Committee’s many interagency participants—including subject matter experts, law enforcement, and the intelligence community—serve as important gatekeepers to protect our homeland. The commitment to this guiding principle must always lead the Committee’s work.”</p>

<p>Today, the House passed the Financial Services and General Government and National Security, Department of State, and Related Programs Appropriations Act that included key provisions led by House Financial Services Committee Chairman French Hill (AR-02) and Rep. Maria Salazar (FL-27).</p> <p>Chairman Hill’s H.R. 1474, the International Nuclear Energy Financing Act, expands access to multilateral financing tools for civil nuclear energy projects abroad, helping U.S. companies compete globally while promoting safe and reliable energy as an alternative to energy sources backed by opposing nations. </p> <p> </p> <p>Rep. Salazar’s H.R. 6892 authorizes the Treasury Secretary to subscribe to additional shares of the capital stock of the Inter-American Investment Corporation. This will strengthen U.S. engagement in the Western Hemisphere by supporting development of the region’s private sector and expanding opportunities for growth and stability.</p> <p><strong>Chairman Hill said</strong>, “For years, I’ve pushed for nuclear energy to be included as an essential part of an ‘all of the above’ energy strategy. My legislation ensures the United States can support civil nuclear projects abroad with real financing tools, so developing countries have access to safe, reliable energy without being driven into the arms of coercive financing from Russia or China. If we want to meet global energy demand and remain competitive, our nation must embrace the full range of proven nuclear technologies and act with urgency. My bill is a critical step toward making this a reality.”</p>

<p>Yesterday, the House Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, led by Chair Bryan Steil (WI-01), examined the current financial technology landscape and how these products fit within the U.S. financial system and regulatory framework.</p> <p><strong>On the Importance of FinTech Innovation:</strong></p> <p><strong>Chair Steil&nbsp;<a href="https://x.com/FinancialCmte/status/2011094410516156664?s=20" rel="noopener noreferrer" target="_blank">said</a>,</strong> "FinTech products that meet consumer demand and improve Americans’ financial lives should have clear, practical legal pathways for operation and strong consumer protections. By supporting thoughtful and balanced regulations, we can encourage innovation while ensuring customer protection and promoting financial well-being for American households and businesses alike.”</p> <p><strong>Chairman French Hill (AR-02)&nbsp;<a href="https://x.com/FinancialCmte/status/2011100043705471067?s=20" rel="noopener noreferrer" target="_blank">said</a>,</strong> “This Committee has long championed innovation and responsible partnership between traditional financial institutions and technology companies. That commitment is now more important than ever. We should encourage regulators to foster those partnerships, unlock innovation and reduce unnecessary regulatory burdens.”</p> <p><strong>Rep. Tim Moore (NC-14)&nbsp;<a href="https://x.com/FinancialCmte/status/2011121164291031065?s=20" rel="noopener noreferrer" target="_blank">said</a>,</strong> “Financial technology is transforming how Americans earn, spend, and save their money. From peer-to-peer payment apps and digital wallets to earned wage access and installation products, FinTech innovations are responding to real consumer needs for speed and affordability. These products exist because they fill gaps in the traditional financial system, especially for consumers who have historically faced limited options or high costs.”</p> <p><strong>Rep. Troy Downing (MO-02)&nbsp;<a href="https://x.com/FinancialCmte/status/2011113519916200007?s=20" rel="noopener noreferrer" target="_blank">said</a>,</strong> “I think it's incredibly important that we continue to have innovation here in the United States of America and don't have that ambiguity that we have in the past that have made people decide to run their businesses elsewhere without a reasonable framework. Another thing that was really difficult for me as a regulator is the ambiguity we got from the SEC at the time on how to treat these, and a lot of the, you know, enforcement by action rather than having a framework, which is why I think it's really important that we need clarity for digital assets and for artificial intelligence.”</p> <p><strong>On Outdated Rules Restricting Businesses:</strong></p> <p><strong>Full Committee Vice Chairman Bill Huizenga (MI-04)&nbsp;<a href="https://x.com/FinancialCmte/status/2011110419511890199?s=20" rel="noopener noreferrer" target="_blank">questions</a>&nbsp;the witnesses on the challenges startups encounter when devolving new payment systems, to which Ms. Kelley answered,</strong>&nbsp;“You know, you have a small startup trying to get into business in 49 different jurisdictions with 49 different licensing requirements. We know that's expensive. We know it costs literally millions of dollars, and we know it takes a long time, as much as two years. And that's a death knell for a small business trying to get up and running. And then, of course, if they do manage to get up and running, there's 49 different compliance regimes they have to apply with.”</p> <p><strong>Rep. William Timmons (SC-04)&nbsp;<a href="https://x.com/FinancialCmte/status/2011116903805366281?s=20" rel="noopener noreferrer" target="_blank">said</a><a href="https://x.com/FinancialCmte/status/2011116903805366281?s=20" rel="noopener noreferrer" target="_blank">,</a></strong>&nbsp;“I've met with countless innovators who are building products that meet real consumer demand and help families better manage their financial lives, particularly those who have been underserved by the traditional banking system. This progress, however, depends on getting the policy environment right. Outdated rules and inconsistent regulatory interpretations can slow the adoption of beneficial technologies, limit competition, and drive innovation offshore. True leadership and financial innovation mean providing clear, predictable guardrails that promote responsible innovation here in the United States, rather than pushing it overseas.”</p> <p><strong>Witnesses Echoed the Work of the Committee:</strong></p> <p><strong>Ms. Jodie Kelley, Chief Executive Officer, Electronic Transactions Association&nbsp;<a href="http://docs.house.gov/meetings/BA/BA21/20260113/118806/HHRG-119-BA21-Wstate-KelleyJ-20260113.pdf" rel="noopener noreferrer" target="_blank">said</a>,</strong>&nbsp;“...ETA supports the establishment of a uniform national framework for artificial intelligence that applies consistently across jurisdictions and provides clarity for consumers, merchants, and payments providers. Payment systems operate on a national scale, and effective oversight depends on consistent rules rather than a state-by-state approach. A federal framework should be risk-based, technology-neutral, and focused on real-world outcomes. It should build on existing federal consumer protection, safety and soundness, and financial integrity regimes, rather than layering new, duplicative compliance requirements on top of them. By establishing a clear national standard, Congress can protect consumers, preserve competition, and enable the responsible deployment of AI in payments.”</p> <p><strong>Mr. Kevin Lefton, Global General Counsel, Stream&nbsp;<a href="http://docs.house.gov/meetings/BA/BA21/20260113/118806/HHRG-119-BA21-Wstate-LeftonK-20260113.pdf" rel="noopener noreferrer" target="_blank">said</a>,&nbsp;</strong>“The arguments that are often presented against Earned Wage Access are fundamentally flawed because they conflate a non-recourse financial wellness tool with high-cost lending products. Labeling EWA as "credit" ignores the basic reality that workers are simply accessing capital they have already earned..”</p> <p><strong>Mr. Ram Palaniappan, Founder and Chief Executive Officer, EarnIn&nbsp;<a href="http://docs.house.gov/meetings/BA/BA21/20260113/118806/HHRG-119-BA21-Wstate-PalaniappanR-20260113.pdf" rel="noopener noreferrer" target="_blank">said</a>,</strong>&nbsp;“The stakes for consumers are real. That is why clear, thoughtful regulation matters. A federal framework that recognizes the distinctive features of the different models of earned wage access, insists on strong consumer protections, and places it on a level playing field with overdrafts and other short‑term products can help ensure that this innovation fulfills its promise rather than creating new problems.”</p> <p><strong>Mr. Todd Zywicki, George Mason University Foundation Professor of Law, Antonin Scalia Law School, George Mason University&nbsp;<a href="http://docs.house.gov/meetings/BA/BA21/20260113/118806/HHRG-119-BA21-Wstate-ZywickiT-20260113.pdf" rel="noopener noreferrer" target="_blank">said</a>,&nbsp;</strong>“We live in an exciting era of developments in financial technology. Recent innovations in alternative underwriting and FinTech generally, and products such as EWA and BNPL specifically, are increasing consumer welfare, choice, and competition. But history teaches that continued innovation requires a thoughtful regulatory framework that will facilitate further developments and protect consumers from the efforts of incumbents to block entry and wrongheaded regulation. There is much that this body and regulators can do to facilitate further innovation and competition.”</p>

<p style="text-align: left;">Today, the the House Financial Services Committee is holding a National Security, Illicit Finance, and International Financial Institutions Subcommittee hearing, led by Subcommittee Chair Warren Davidson (OH-08), to have the Department of Treasury's annual appearance before the Financial Services Committee for testimony on CFIUS.</p> <p style="text-align: left;"><strong>Read Subcommittee Chair Davidson’s opening remarks as prepared for delivery:</strong></p> <p style="text-align: left;">"Today is the Committee’s annual oversight hearing on CFIUS and will provide Members an opportunity to review the Trump Administration’s implementation of the CFIUS process and the Outbound Investment Security Program both of which are administered by the Office of Investment Security.</p> <p style="text-align: left;">"The United States is the world’s top destination for foreign direct investment (FDI), with over $5.7 trillion dollars in total investment so far and trillions of dollars of new commitments during President Trump’s current term. Our open investment environment makes this possible which is why successive Presidents have reaffirmed its importance.&nbsp;</p> <p style="text-align: left;">"In fact, FDI accounts for 10.1 percent or more of jobs while foreign firms employ around 25 percent of all manufacturing workers making investment critical to the wellbeing of Americans across the country.</p> <p style="text-align: left;">"Established in 1975 under the Department of Treasury, CFIUS seeks to preserve this open investment environment while ensuring that the very openness does not become a weapon our adversaries can use against us.&nbsp;</p> <p style="text-align: left;">"The 2018 Foreign Investment Risk Review Modernization Act, otherwise known as FIRRMA, expanded its jurisdiction to include non-controlling investments in critical technologies, infrastructure, and sensitive personal data.&nbsp;</p> <p style="text-align: left;">"CFIUS must rigorously scrutinize foreign investments from any source that could undermine our technology, agriculture, energy sectors, and more, while enabling beneficial investment inflows that strengthen our economy.&nbsp;</p> <p style="text-align: left;">"At the same time, CFIUS must not become so bureaucratic that the process prioritizes answering every conceivable question over neutralizing threats.&nbsp;</p> <p style="text-align: left;">"With this in mind, I want to commend President Trump both for his America First Investment Policy which reiterates his commitment to welcoming foreign investment as well as his tireless efforts to secure trillions in new investments in our country.&nbsp;</p> <p style="text-align: left;">"I especially want to highlight CFIUS’s Known Investor Portal pilot program which promises to streamline investment for repeat, friendly investors, allowing resources to be directed where they matter most for screening new risks.</p> <p style="text-align: left;">"However, reviewing inbound investments alone cannot fully protect our national security. This is why Congress enacted Representative Barr’s COINS Act last month as part of the NDAA, which tasks the Office of Investment Security (OIS) to build on the Outbound Investment Security Program.&nbsp;</p> <p style="text-align: left;">"Now that this legislation has become law, it falls on this Committee to ensure that it is implemented in a targeted and thoughtful manner while ensuring that American capital does not support the military industrial bases of our adversaries, particularly the People’s Republic of China.&nbsp;</p> <p style="text-align: left;">"As Treasury writes an updated outbound investment rule, it is imperative that it’s a clear, streamlined framework to ensure that American investors can comply without overly burdensome bureaucratic obstacles that halts our financial sector.</p> <p style="text-align: left;">"As the world becomes more complex and interconnected, OIS must ensure that U.S. national security is protected both on the inbound and outbound investment fronts.&nbsp;</p> <p style="text-align: left;">" Ensuring that our processes are efficient and effective means investment screening must be transparent and clear for our friends and fellow citizens to comply with, and difficult for our adversaries to exploit. This is our task today. I yield back, and I now recognize the ranking member for her remarks."</p> <p style="text-align: left;"> </p> <p style="text-align: center;">###</p>

<p>Today, the House Financial Services Committee is holding a Monetary Policy, Treasury Market Resilience, and Economic Prosperity Task Force hearing, led by Task Force Chair Frank D. Lucas (OK-03), to examine the role the Federal Reserve's balance sheet plays in monetary policy implementation and the Treasury markets.</p> <p><strong>Read Task Force Chair Lucas’ opening remarks as prepared for delivery:</strong></p> <p> <em>"Welcome to the first Task Force hearing of 2026.</em></p> <p><em>"Our focus today is on the Fed’s balance sheet – a record of its assets and liabilities that demonstrate its operations.</em></p> <p><em>"The Fed’s balance sheet has undergone dramatic changes in the past 15 years – growing from less than $1 trillion in 2008, or 6% of GDP, to almost $9 trillion in 2022, or 35% of GDP.</em></p> <p><em>"In 2008, the Fed moved from a corridor system to a floor system necessarily demanding an increase in the quantity of reserves on its balance sheet.</em></p> <p><em>"Despite that change, the Fed has continued to express the view that reserves should be at “the smallest levels” consistent with the effective implementation of monetary policy.&nbsp;</em></p> <p><em>"We haven’t always seen the Fed stick to that view, instead using its balance sheet to provide economic stimulus – not merely as a means to control rates.</em></p> <p><em>"Since 2008, the Fed has engaged in four rounds of large-scale asset purchases, or QE, with its balance sheet standing at six and a half trillion today.</em></p> <p><em>"Yet, the academic literature shows mixed results on the effectiveness of QE at economic support. While the jury is out on the benefits of QE, we do know that it raises risks of inflation and market distortion.</em></p> <p><em>"The Fed should rely on conventional monetary policy tools under its ample reserves regime and avoid market operations that may have unintended and lasting consequences.</em></p> <p><em>"Additionally, the Fed should clearly articulate under what conditions it uses its balance sheet for economic stimulus, economic contraction, and policy implementation in the future. This is particularly important now as the Fed engages in reserve management purchases.&nbsp;</em></p> <p><em>"Finally, it may be tempting to allow the news of the day to distract us from the purpose of today’s hearing. I will continue to emphasize that the independence of the Fed is critical in ensuring it makes sound interest rate decisions that are essential to favorable economic outcomes.</em></p> <p><em>"We’d do well to remember that decisions made now have lasting implications for not just the next Fed chair, but the next ten Fed chairs.</em></p> <p><em>"That said, let’s focus our discussion today on the proper use of the balance sheet and its impact on monetary policy implementation and Treasury market functioning.</em></p> <p><em>"I yield back."&nbsp;</em></p>

Today, Education and Workforce Committee Chairman Tim Walberg (R-MI) spoke on the House Floor in support of&nbsp;<a href="https://republicans-edlabor.house.gov/UploadedFiles/1.8.26_Empowering_Workers_Through_Flexibility_and_Opportunity.pdf" target="_blank">three bills</a>&nbsp;that protect workers’ earnings, expand access to job training, and support working families—without adding unnecessary government barriers. The legislation includes&nbsp;<a href="https://www.congress.gov/bill/119th-congress/house-bill/2312/text">H.R. 2312,&nbsp;<em>Tipped Employee Protection Act</em></a>;&nbsp;<a href="https://www.congress.gov/bill/119th-congress/house-bill/2262/text">H.R. 2262,&nbsp;<em>Flexibility for Workers Education Act</em></a>; and&nbsp;<a href="https://www.congress.gov/bill/119th-congress/house-bill/2270/text" target="_blank">H.R. 2270,&nbsp;</a><em><a href="https://www.congress.gov/bill/119th-congress/house-bill/2270/text">Empowering Employer Child and Elder Care Solutions Act</a>.</em>&nbsp; &nbsp;<br /> <br /> <div style="text-align: center;"><a href="https://www.youtube.com/watch?v=RLG3ThCYdjs" target="_blank"><img alt="" height="281" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/images/52c3ae8d-9f4d-971d-9b95-83161bc23c8b.jpg" width="500" /></a></div> <br /> <strong>Chairman Walberg on H.R. 2312,&nbsp;</strong><a href="https://republicans-edlabor.house.gov/UploadedFiles/Walberg_H.R._2312_Floor_Remarks_.pdf"><strong><em>Tipped Employee Protection Act</em></strong></a><strong><em>,&nbsp;</em></strong><strong>authored by Rep. Steve Womack (R-AR):&nbsp;</strong><em>“Like many of my colleagues, I want to see Americans rewarded for their hard work and ensure they are paid what they earn. That’s why I am proud to rise in support of H.R. 2312, the Tipped Employee Protection Act, which creates stability for tipped workers and preserves opportunities for them to earn a good wage.</em><br /> <br /> <em>“The bill creates a clear, common-sense definition of a tipped worker and prevents future attempts by misguided, activist judges and bureaucrats seeking to implement policies that hurt workers’ bottom lines…H.R. 2312 puts more money back in workers’ pockets and eases the burden on employers by removing needless federal regulations.”</em><br /> <br /> <div style="text-align: center;"><a href="https://youtu.be/3_1_d7EEyYg" target="_blank"><img alt="" height="281" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/images/8fcde4c5-b26f-0800-a63a-90173d2fd217.jpg" width="500" /></a></div> <br /> <strong>Chairman Walberg on H.R. 2262,&nbsp;</strong><a href="https://republicans-edlabor.house.gov/UploadedFiles/Walberg_H.R._2262_Floor_Remarks.pdf"><strong><em>Flexibility for Workers Education Act</em></strong></a><strong>, authored by Rep. Ashley Hinson (R-IA)</strong><strong>:&nbsp;</strong><em>“[H.R. 2262] is a common-sense bill that makes it easier for a business to offer voluntary upskilling opportunities to its employees. As our nation faces a widening skills gap and millions of unfilled jobs, H.R. 2262 would provide additional pathways for workers to pursue trainings and fill a growing number of jobs that require skilled workers.&nbsp;<br /> <br /> “As Chairman of the Education and Workforce Committee, I am committed to cutting red tape and removing roadblocks that make it harder for workers and businesses to succeed. The Flexibility for Workers Education Act is another strong step toward ensuring Washington doesn’t put up roadblocks that hinder progress in our workforce.”</em><br /> <br /> <div style="text-align: center;"><a href="https://www.youtube.com/watch?v=5qS2y9cM4ug" target="_blank"><img alt="" height="281" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/images/54eaba69-5dbb-4efe-bc7f-17d7a6240cd7.jpg" width="500" /></a></div> <br /> <strong>Chairman Walberg on H.R. 2270,&nbsp;</strong><a href="https://republicans-edlabor.house.gov/UploadedFiles/Walberg_H.R._2270_Floor_Remarks.pdf"><strong><em>Empowering Employer Child and Elder Care Solutions Act</em></strong></a><strong><em>,&nbsp;</em></strong><strong>authored by Rep. Mark Messmer (R-IN):&nbsp;</strong><em>“Across this country, millions of Americans are doing two full-time jobs at once. They are employees striving to be productive and dependable at work, and they are caregivers—parents of young children, sons and daughters caring for aging parents, or both. These responsibilities do not disappear when the workday begins. They shape whether a worker can show up on time, stay focused, or remain in the workforce at all.<br /> <br /> “The Empowering Employer Child and Elder Care Solutions Act removes this longstanding obstacle for employers wishing to provide these highly valued accommodations to their workforce…sends a clear message: we value work, we value family, and we understand that the two are deeply connected.”</em> <p>&nbsp;</p> <p style="text-align: center;">###</p>

<p>Today, the Subcommittee on Early Childhood, Elementary, and Secondary Education held a<strong>&nbsp;</strong><strong><a href="https://edworkforce.house.gov/calendar/eventsingle.aspx?EventID=412973">hearing</a>&nbsp;</strong><strong>&nbsp;</strong>to examine how the private sector is playing an important role in addressing the cost and availability of child care.&nbsp;<br /> <br /> <a href="https://edworkforce.house.gov/uploadedfiles/os_kiley.pdf"><strong>Subcommittee Chairman Kevin Kiley (R-CA)</strong></a><strong>&nbsp;</strong>opened the hearing by discussing how public-private approaches are key to increasing access to affordable child care.&nbsp;<br /> <br /> </p> <p style="text-align: center;"><img alt="" height="333" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/_compresseds/143e7dc3-1d98-f5f4-9516-45b55a1d3bec.jpg" width="500" /></p> <br /> “Employer engagement is a critical leg in the three-part support system holding up our child care market: families, government, and employers each play a role…CCDBG and private-sector innovation should be partners in meeting the child care needs of America’s workforce,” he said.&nbsp;<br /> <br /> Witnesses highlighted the importance of employer-based tax credits such as 45F—which was significantly expanded under the Working Families Tax Cuts that was signed into law in July.<br /> <br /> <a href="https://edworkforce.house.gov/uploadedfiles/haden_polseno-hensley_written_testimony.pdf"><strong>Mr. Haden Polseno-Hensley, President and Co-Founder at Red Rooster Coffee Company, LLC</strong></a>,&nbsp;explained how child care facilities benefit children as well as employees.&nbsp;“One benefit that is less quantifiable is the increased level of community in our company, including the relationships between the children that have attended Yellow Hen together. The children are bonded together in a uniquely strong fashion, and adding to that bond, our employees know each other’s children, which creates a fraternal feeling that is hard to replicate,” he said.<br /> <br /> <div style="text-align: center;"><img alt="" height="333" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/_compresseds/84f4dce2-9153-abc8-b7f8-2a6fa9c409fe.jpg" width="500" /></div> <br /> In an exchange with<strong>&nbsp;Rep. Mike Rulli (R-OH),&nbsp;</strong><strong><a href="https://edworkforce.house.gov/uploadedfiles/alex_grover_written_testimony.pdf">Ms. Alex Grover,&nbsp;CEO at i2M</a>,&nbsp;</strong>discussed ways Congress can help employers provide child care as an employee benefit. “[Congress should] keep the definitions flexible so private business can be creative… there isn’t a one-size-fits all approach to child care. Employers who really understand their workforce understand the demographics and understand the needs are very well suited to help define that,” she said.<br /> <br /> <div style="text-align: center;"><img alt="" height="333" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/_compresseds/93793595-c8d4-1180-7a81-b777d76858be.jpg" width="500" /></div> <br /> In other words, Congress needs to cut the red tape so the private sector can innovate.&nbsp;<br /> <br /> <a href="https://edworkforce.house.gov/uploadedfiles/mary_lou_burke_afonso_written_testimony.pdf"><strong>Ms. Mary Lou Burke Afonso, COO at Bright Horizons</strong></a>,&nbsp;explained to<strong>&nbsp;Rep. James Moylan (R-GU)&nbsp;</strong>how child care is helping businesses retain talented workers and maintain a strong workforce.&nbsp;“Right now, so many people are delaying when they have children and what that means is [businesses] have a talented, educated workforce that might make the choice to go out of the workforce if there isn’t child care for them,” she said.<br /> <br /> <div style="text-align: center;"><img alt="" height="320" src="https://mcusercontent.com/242c4a1c0560b7d513ce7962f/_compresseds/c82fc6ae-c5c4-0225-ba9d-fa0861aac5a5.jpg" width="500" /><br /> <br /> </div> <div><a href="https://x.com/EdWorkforceCmte/status/2011133643972874573"><strong>Rep. Mark Messmer (R-IN)</strong></a><strong>&nbsp;</strong>asked about how employer-sponsored child care helps increase slots rather than re-allocating existing spots.<br /> <br /> “[Employers] can actually come in and add supply to a community that otherwise relieves supply at community-based centers. We also have employers that actually open up some of their available slots to the community. In addition, we work with partners to do some training…and that training is accessible…to employees in the greater community in the workforce of child care,” Ms. Burke Afonso explained.<br /> <br /> <strong>Bottom line:&nbsp;</strong>Making child care more affordable is essential to helping parents work, businesses grow, and local economies thrive—and it is best achieved through flexible partnerships, not one-size-fits-all federal mandates.</div>

The House will vote on three bills that modernize our nation’s labor laws so they better reflect how Americans work today—protecting earnings, expanding opportunity, and supporting working families without adding unnecessary government barriers. These bills also support small businesses and meet the needs of the workforce.<br /> <br /> <strong>Here’s what they are saying about&nbsp;</strong><a href="https://urldefense.com/v3/__https:/www.govinfo.gov/content/pkg/BILLS-119hr2262rh/pdf/BILLS-119hr2262rh.pdf__;!!BSgrhSFG!BBQYUAQEljARguUNql8N4P3fhMO4ezrtTdxdzsDKuWbvpuDS_i8zZz_dZl-cWjSeztVi0aJYPdoLJJZUh5Um0i7ZngQKdQ0MGCROzw$" title="https://urldefense.com/v3/__https:/www.govinfo.gov/content/pkg/BILLS-119hr2262rh/pdf/BILLS-119hr2262rh.pdf__;!!BSgrhSFG!BBQYUAQEljARguUNql8N4P3fhMO4ezrtTdxdzsDKuWbvpuDS_i8zZz_dZl-cWjSeztVi0aJYPdoLJJZUh5Um0i7ZngQKdQ0MGCROzw$"><strong>H.R. 2262</strong></a><strong>,&nbsp;<em>Flexibility for Workers Education Act,&nbsp;</em>authored by Rep. Ashley Hinson (R-IA):</strong><br /> <br /> <em>“The legislation maintains strong worker protections—participation in these training opportunities would be entirely voluntary, occur outside of work hours, and could not involve productive work for the employer. Removing this regulatory hurdle would expand access to employer-sponsored education, making it easier for workers to develop the skills necessary for higher-paying jobs and career advancement.”</em>&nbsp;<strong>– Sam Caucci, Founder &amp; CEO, 1Huddle</strong><br /> <br /> <em>“Most notably for franchise businesses, the Flexibility for Workers Education Act will allow businesses to offer voluntary training outside of work hours without that training counting towards employees’ hours worked. By cutting red tape, this legislation makes it easier for businesses to encourage upward mobility and accelerate employees’ growth with access to innovative education and skills development opportunities.”&nbsp;</em><strong>– Michael Layman, Chief Advocacy Officer, International Franchise Association</strong><br /> <br /> <em>“Employers have millions of unfilled positions because they cannot find qualified workers. In its most recent April 2025 survey, the National Federation of Independent Business (NFIB) found that 87% of small business owners hiring or trying to hire reported few or no qualified applicants for available positions. If employers could train their current employees, they could expand their pool of qualified workers. However, federal law discourages employers from investing in training programs for employees.”</em>&nbsp;<strong>– Patrice Onwuka, Director, Center for Economic Opportunity, Independent Women</strong><br /> <br /> <strong>Here’s what they are saying about&nbsp;</strong><a href="https://urldefense.com/v3/__https:/www.govinfo.gov/content/pkg/BILLS-119hr2270rh/pdf/BILLS-119hr2270rh.pdf__;!!BSgrhSFG!BBQYUAQEljARguUNql8N4P3fhMO4ezrtTdxdzsDKuWbvpuDS_i8zZz_dZl-cWjSeztVi0aJYPdoLJJZUh5Um0i7ZngQKdQ0_eh5Gyg$" title="https://urldefense.com/v3/__https:/www.govinfo.gov/content/pkg/BILLS-119hr2270rh/pdf/BILLS-119hr2270rh.pdf__;!!BSgrhSFG!BBQYUAQEljARguUNql8N4P3fhMO4ezrtTdxdzsDKuWbvpuDS_i8zZz_dZl-cWjSeztVi0aJYPdoLJJZUh5Um0i7ZngQKdQ0_eh5Gyg$"><strong>H.R. 2270</strong></a><strong>,&nbsp;<em>Empowering Employer Child and Elder Care Solutions Act,&nbsp;</em>authored by Rep. Mark Messmer (R-IN):</strong><br /> <br /> <em>“Many families today struggle to find affordable, reliable, and high-quality child care. Policies should make it easier, not harder, for employers to offer these benefits to working parents on a voluntary basis. The Empowering Employer Child and Elder Care Solutions Act acknowledges this challenge and seeks to alleviate the cost and regulatory burden on employers who wish to provide child and dependent care assistance.”&nbsp;</em><strong>– Heather Madden, Policy Staff Director, Independent Women’s Voice</strong><br /> <br /> <em>“A competitive job market demands equally competitive benefits. As organizations face labor shortages, those that modernize their total compensation and benefits packages with creative, forward-thinking offerings are better positioned to attract and retain talent. SHRM believes public policy should support employers in these efforts. H.R. 2270 represents meaningful progress by encouraging employers to offer onsite or subsidized dependent care benefits through statutory recognition that such benefits are excluded from the 'regular rate' calculation under the Fair Labor Standards Act (FLSA).”&nbsp;</em><strong>– Emily M. Dickens, Chief Administrative Officer, SHRM</strong><br /> <br /> <strong>Here’s what they are saying about&nbsp;</strong><a href="https://urldefense.com/v3/__https:/www.govinfo.gov/content/pkg/BILLS-119hr2312rh/pdf/BILLS-119hr2312rh.pdf__;!!BSgrhSFG!BBQYUAQEljARguUNql8N4P3fhMO4ezrtTdxdzsDKuWbvpuDS_i8zZz_dZl-cWjSeztVi0aJYPdoLJJZUh5Um0i7ZngQKdQ0kV0b3lw$" title="https://urldefense.com/v3/__https:/www.govinfo.gov/content/pkg/BILLS-119hr2312rh/pdf/BILLS-119hr2312rh.pdf__;!!BSgrhSFG!BBQYUAQEljARguUNql8N4P3fhMO4ezrtTdxdzsDKuWbvpuDS_i8zZz_dZl-cWjSeztVi0aJYPdoLJJZUh5Um0i7ZngQKdQ0kV0b3lw$"><strong>H.R. 2312</strong></a><strong>,&nbsp;<em>Tipped Employee Protection Act</em>, authored by Rep. Steve Womack (R-AR):</strong><br /> <br /> <em>“In order for America’s workers and business entrepreneurs to succeed in the 21st century, Congress must prioritize reforms that let Americans chase opportunity rather than permission…H.R. 2312, the Tipped Employee Protection Act, which ensures restaurants can properly compensate tipped employees for non-tipped work activities…would create significant new opportunities and flexibility for the American workforce, allowing businesses and workers to create mutually beneficial arrangements.”&nbsp;</em><strong>– Austen Bannan, Employment Fellow, Americans for Prosperity</strong><br /> <br /> <em>“The Act safeguards tipped workers’ wages by preserving the current tipped wage formula. Under the FLSA, tipped employees must earn at least the federal minimum wage through a combination of their employer-paid base wage of $2.13 and their tips. If tips fail to meet the minimum wage threshold, employers must pay the difference. Moreover, the bill upholds states’ authority to set higher minimum wages than the federal standard.”</em>&nbsp;<strong>– Foodservice Equipment Distributors Association</strong><br /> <br /> <em>“The Tipped Employee Protection Act would codify a more explicit definition of 'tipped employee' by removing interpretive language such as 'customarily' and 'regularly' from the FLSA’s current definition.”&nbsp;</em><strong>–<em>&nbsp;</em>Manufacturers' Agents Association for the Foodservice Industry (MAFSI)</strong><br /> <br /> <em>“The Tipped Employee Protection Act strengthens wage protections for tipped workers while reducing compliance challenges for employers. We urge your support for this important legislation.”</em>&nbsp;<strong>– National Ready Mixed Concrete Association</strong><br /> <br /> <em>“The undersigned organizations write to urge your support of the Tipped Employee Protection Act (H.R. 2312), which would amend the Fair Labor Standards Act (FLSA) to clarify the definition of 'tipped employee,' strengthen wage protections for tipped workers, and provide additional clarity as to which workers fall under this category.”</em>&nbsp;<strong>– National Restaurant Association</strong><br /> <br /> <em>“The bill would also prevent regulators from imposing arbitrary limits on the hours or duties a tipped employee may perform. Together, these provisions create a more stable compliance environment for employers and make it easier to classify workers accurately as tipped employees.”</em>&nbsp;<strong>– National Retail Federation</strong>

<p>Tomorrow, at 10:15 a.m., the Committee on Education and Workforce, chaired by Rep. Tim Walberg (R-MI), will hold the first&nbsp;<a href="https://edworkforce.house.gov/calendar/eventsingle.aspx?EventID=412984" target="_blank">hearing</a>&nbsp;in a series examining artificial intelligence, titled<strong>&nbsp;“Building an AI-Ready America.”</strong><br /> <br /> <strong>What:</strong><br /> Full Committee hearing titled&nbsp;<strong>“Building an AI-Ready America”</strong><br /> <br /> <strong>When:</strong><br /> 10:15 a.m. on Wednesday, January 14, 2026<br /> &nbsp;<br /> <strong>Where:</strong><br /> 2175 Rayburn House Office Building<br /> <br /> <strong>Witnesses:</strong></p> <ul> <li><strong>Ms. Chaya Nayak,</strong>&nbsp;Head of Certifications and Jobs Platform, OpenAI</li> <li><strong>Mr. Adeel Khan,&nbsp;</strong>Founder &amp; CEO, MagicSchool AI</li> <li><strong>Ms. Alexandra Reeve Givens,&nbsp;</strong>President &amp; CEO<strong>,&nbsp;</strong>Center for Democracy &amp; Technology</li> <li><strong>Mr. Kevin Frazier,&nbsp;</strong>AI Innovation &amp; Law Fellow, University of Texas Law School</li> </ul> <strong>Press:</strong><br /> The hearing is open to the press and will be live-streamed on the&nbsp;<a href="https://youtube.com/live/RM0aq5ynUiQ?feature=share" target="_blank">Committee’s YouTube page</a>.