Policy Committee Updates

ENERGY & ENVIRONMENT COMMITTEE

• On November 1, Committee members met with Rachel McCormick, Director General of International and Intergovernmental Affairs, Natural Resources Canada, at a luncheon hosted by the Canadian Consulate in Boston.
• On January 23, Committee members met for a planning session in which members outlined priorities for advocacy and programming.
• On April 5, the Council hosted a Regional Energy Forum featuring keynote remarks from ISO-New England CEO Gordon van Welie. The program also featured a panel discussion with Council members in the energy sector who discussed their own efforts to ensure reliable and affordable energy for the region, while also working toward ambitious climate goals. The event was attended by some 150 people and was sponsored by National Grid.
• On May 16, the Committee will meet with David B. Diamond, Deputy Chief for Atlantic Operations, Office of Renewable Energy Programs for the Bureau of Ocean Energy Management (BOEM).

FINANCIAL SERVICES COMMITTEE

• The Committee continues to support  cannabis banking legislation and submitted a letter of support for the SAFER Banking Act in the fall of 2023. This bill would ensure that all businesses—including State-sanctioned cannabis businesses—have access to deposit accounts, insurance and other financial services.  The legislation has considerable Democratic support in the Senate and has passed out of the Senate Banking Committee. While it has had strong support in the House in years past, no real movement has been made by Republican Leadership.  The Committee will continue to monitor action by the White House as it looks to de-criminalize cannabis and cannabis related products at the national level.
  
• On February 14, the Committee held its first meeting of the year to discuss policy goals and future event ideas for 2024. The Committee has decided to establish several subsector-specific subcommittees to better focus the group’s work.
• On February 27, the Committee held a breakfast meeting with Rep. Bill Huizenga (R-MI). The Congressman updated Committee members on issues he was working on as a senior member of the House Financial Services Committee as well as Council policy interests. Read More.
• On March 6, the Committee sent a letter to the New England House Delegation urging members to support an amendment to H.R. 2799, Expanding Access to Capital Act. The amendment added R. 1807, the Improving Disclosure for Investors Act of 2023, which the Committee has long supported. H.R. 1807 would direct the Securities and Exchange Commission (SEC) to transition the default method for receiving investor documents and disclosures from paper to digital (eDelivery). If signed into law, this legislation would update aging SEC regulations to provide investors with more secure, timely, and environmentally friendly forms of communication. The amendment and the full bill passed the House of Representatives in March and is now being considered in the Senate, where companion legislation has been introduced.  The committee is considering additional advocacy in the Senate on this matter.
• On March 19, the Committee established subcommittees for each of the different sub-sectors that are part of the larger Financial Services Committee. We believe this system will lead to more member engagement on specific policy issues and bolster content and programming for specific topics within the Financial Services industry. Each subcommittee is open to any committee members interested in being involved and taking a more active role in the Council’s advocacy and programming regarding the financial services industry. Read More. The four subcommittees are:
  • Asset Management
  • Banking
  • Credit Unions
  • Insurance
• The Committee is planning an event with staff from Congressman Stephen Lynch’s office to discuss the new bipartisan working group focused on Artificial Intelligence. Congressman Lynch has been named the lead Democrat for the working group.
• During the Washington Leaders’ Conference, the Committee will hold two meetings: one with House Majority Whip Tom Emmer’s Chief of Staff, and a second with senior Democratic staff on the Senate Finance Committee.

HEALTHCARE COMMITTEE

• On January 16, Committee members met for a planning session in which members outlined priorities for advocacy and programming. Issues identified included Support Act Reauthorization, the Orphan Cures Act, AI’s role in the Healthcare Sector as well as a plans to host a New England Innovates Program on Rare Diseases.
• In March and April, the Healthcare Committee’s four Subcommittees focused on health equity, addiction & behavioral health, workforce, and technology & innovation convened for planning purposes.
• On April 17, the Committee sent a letter to the New England Senate delegation expressing support for the reauthorization of the Substance Use-Disorder Prevention That Promotes Opioid Recovery and Treatment for Patients and Communities (SUPPORT) Act. Read the letter.
• On May 7, the Committee sent a letter to the New England Congressional Delegation expressing support for the ORPHAN Cures Act, which would address a provision in the Inflation Reduction Act that de-incentivizes rare disease R&D. Read the Letter.
• On April 23 the Committee hosted an installment of New England Innovates series, this time focused on innovation in the treatment of rare diseases.  The event featured keynote remarks by Congressman Jake Auchincloss, and was followed by a panel discussion of New England Council experts. Watch the event.
• The Committee will hold two meetings during the Washington Leaders’ Conference.  The first will be with several healthcare staffers to members of the region’s Senate delegation, and the second will be with the Deputy Administrator of the Center for Medicare and Medicaid Innovation.

HIGHER EDUCATION COMMITTEE

• The Committee continues to closely monitor the U.S. Department of Education’s implementation of a new FAFSA form, which has created several challenges for students and institutions alike.
  • In April, the Committee sent a letter to Secretary Miguel Cardona urging the Department to delay implementation of the Financial Value Transparency and Gainful Employment rules due to the impact of the FAFSA implementation delays.  Read more.
  • The Committee is now in the process of preparing a letter to the delegation highlighting concerns with the new FAFSA implementation and highlighting specific examples of the negative impact the delays have had on student and institutions.
• On May 6, Committee sent a letter to the New England Congressional delegation regarding the Federal Pell Grant program. The letter thanks Congress for passing the recent Fiscal Year 2024 Appropriations package with level funding levels for the Pell Grant. While we are of course supportive of doubling the maximum amount for the Pell Grant program, we understand the work that it took to ensure level funding for this year and appreciate their efforts. Read the letter here.

• The Committee is releasing updated version of fact sheets highlighting the economic impact of the higher education sector in each New England state.  The Council is again partnering with NEBHE to gather data for these resources. These will be available by the week of the Washington Leaders’ Conference for use during Hill meetings.
• During the Washington Leaders’ Conference, the committee will meet with Higher Education Senate Staff for Senator Hassan (D-NH) and Senator Markey (D-MA).

HOUSING WORKING GROUP

• Over the past year, the Council has heard from members across an array of industries about the region’s housing shortages and the impact on the region’s economy. As such, the Council convened a special program exploring the housing challenges and possible solutions in December 2023.  Elizabeth Warren delivered keynote remarks, outlining her vision for how the federal government can play a role in solving housing challenges.  Following the Senator’s remarks, a panel of Council members whose work focuses on housing discussed their own initiatives and how policy makers can support their work to address housing shortages. Watch Program
• Based upon the success of this event and the widespread interest among Council members in expanding the Council’s work on housing issues, the Council launched a new cross-sector Housing Working Group to bring together a diverse array of Council members who are interested in the housing issue to work collaboratively on federal hosing policy advocacy.
• Some 100 council members have already joined the working group, which held it’s first meeting on February 15 with some 50 members participating.
• On May 1^st, the Council hosted HUD Region 1 Administrator Juana Matias in Boston, MA to discuss HUD and White House Housing priorities along with resources for people that have questions regarding housing policy. Watch Program.
• The Council is now reviewing several pieces of legislation for possible advocacy, and working on several future meetings, including:
  • Virtual “Housing Policy 101” briefing for members looking to learn more about housing policy
  • Virtual Meeting with the National Economic Council Housing staff to discuss White House priorities.
  • In person meeting with Congresswoman Ayanna Pressley in July to discuss her Housing priorities and work that Congress has done to address the issue.

TECHNOLOGY & INNOVATION WORKING GROUP

• The Working Group hosted a virtual meeting on December 5 featuring a briefing from several officials at the U.S. Department of Commerce.  Members were updated on the ongoing implementation of the CHIPS and Science Act, the recent establishment of 31 Regional Technology and Innovation Hubs, and President Biden’s recent Executive Order on Artificial Intelligence (AI).
• On January 25, the Council sent a letter to House and Senate New England Delegation members urging them to prioritize renewing funding for the Affordable Connectivity Program (ACP) before it is estimated to run out in April 2024. The ACP was established under Infrastructure Investment and Jobs Act, and provides income-based broadband subsidies to ensure equitable access to high speed internet. The Council urged Congress to extend funding for this critical program. Read the letter.
• Advocating for legislation to reverse a recent change in the tax code that requires businesses to amortize R&D expenses continues to be a top priority for the working group. Last year, the Council endorsed bipartisan legislation in both the House and Senate on this issue, conducted a number of meetings with Congressional offices, and wrote to House Ways & Means and Senate Finance leaders in November urging them to include the provision in any year-end tax deal. Most recently, in January, the Council sent a letter to all members of the New England House delegation urging them to support the bipartisan tax deal that included this provision.
• The Working Group will hold two meetings during the Washington Leaders’ Conference. First, members will meet with staff to Representatives Seth Moulton (D-MA) Jake Auchincloss (D-MA) to discuss their work as members of the China Select Committee.  The working group will also meet with officials from the CHIPS for America office at the U.S. Department of Commerce.

TRADE WORKING GROUP

• On February 5, the Council’s Trade Working Group held a meeting where Rep. Seth Moulton’s staffer, Ben Press, was able to provide some insight on Mr. Moulton’s work as a member of the House Select Committee on Strategic Competition between the United States and the Chinese Communist Party. After Ben addressed the Committee, there was a discussion regarding the priorities that our Trade Working Group should address during the coming year, leaning toward a focus on how best to resolve supply chain concerns.
• The Trade Working Group is meeting with Senate Finance Committee staff on May 15 in conjunction with the Washington Leaders’ Conference.

TRANSPORTATION & INFRASTRUCTURE COMMITTEE

• On January 8, the Council’s Transportation and Infrastructure Committee held a meeting where Senator Ed Markey’s transportation and infrastructure staffer, Nate Birnbaum, provided his insight on issues currently being faced by the U.S. Senate, including FAA reauthorization, the renewal of the Water Resources Development Act (WRDA), rail safety legislation, and efforts to make America’s roads safer.
• On February 29, the Council sent a letter to all members of the New England Senate delegation to express support for legislation to reauthorize the policies and programs of the Federal Aviation Administration (FAA). The five-year bill the Council supported will provide 20 billion for airport improvement grants (AIP); $18.2 billion over five years for facilities and equipment; a total of roughly $67.5 billion over five years for FAA operations; and $1.8 billion for research and development dedicated towards aerospace technology. (Read the Council’s Senate letter.) A similar letter to the region’s House delegation was sent in June 2023
• On April 12, the Council’s Transportation and Infrastructure Committee held a meeting where Mr. Ed Higgins, legislative staff person to U.S. Senator Sheldon Whitehouse (D-RI), provided his insight on issues under consideration in the U.S. Senate, including the possibility of an Infrastructure Investment and Jobs Act (IIJA) 2.0, the renewal of the Water Resources Development Act (WRDA), Baltimore bridge rebuild funding, and FAA reauthorization.
• The Committee is in the early stages of planning a forum in Boston in the fall as part of the New England Innovates series looking at the use of AI in the transportation sector.
• During the Washington Leaders’ Conference, the committee will again meet with Nate Birnbaum, Senator Ed Markey’s transportation staffer.