Government Relations Updates
Philadelphia’s Black-owned businesses took center stage this week at the African American Chamber of Commerce's electrifying 32nd Anniversary Awards Ceremony, city officials and business leaders kicked off the 41st Annual Micro Economic Development (MED) Week, and Governor Shapiro traveled to Québec City, Canada, for the Great Lakes-St. Lawrence Governors and Premiers (GSGP) Leadership Summit. What else happened? You’ll have to read on!
The Bellevue Compass
As we begin week two of the federal shutdown, we’re discussing what the reaction has been, en bloc nominations, and the rumors that are floating around. As Politico put it, they’re “talking about talking”.
In Case You Missed It
Reduction-in-force plans have begun amidst the shutdown—RIFs, in contrast to furloughs, which are typical during a shutdown—a move that the Trump Administration seems to have been long contemplating. Departments of Interior, Homeland Security, Treasury, EPA, Commerce, Education, Energy, HHS and HUD have reportedly been effected.
As departments face furloughs (and RIFs) during the shutdown, the IRS has announced that it is furloughing nearly half its workforce and shuttering most operations. While next year’s tax-filing prep will continue, major operations will be halted, including call site operations.
Is a peace deal between Israel and Hamas nigh? According to Trump, both entities have “signed off on the first phase” of a deal that would end the war in Gaza. What concessions each side might be willing to make is still unclear.
In other international news, President Trump is on the outs with President Jinping of China, after Beijing reported it would tighten its rules for exports of rare earths materials. Trump has threatened “massive” tariffs in response; financial markets dropped in the wake of the remarks, with the S&P 500 down roughly 1.4% in late morning trade in New York.
New York Attorney General Letitia James has been criminally indicted on federal charges of bank fraud by a grand jury today. How did the AG end up in President Trump’s crosshairs?
That’s it for this week.
Til next time.
The Bellevue Team