Legislative Activity

The RACE Act of 2025 amends the Securities Act of 1933 to allow the automatic qualification of offering statements for new securities, provided the issuer has a similar class of securities already qualified, the new securities are substantially similar, and the offering amount for each class is less than $5,000,000. This aims to streamline the process for capital raising by reducing regulatory hurdles for securities offerings.

The "Camp Nelson National Monument Boundary Expansion Act" allows the Department of Interior to acquire roughly 132 acres of land to be included in the Camp Nelson National Monument. Additionally, this bill officially changes the name of the monument from "Camp Nelson Heritage National Monument" to "Camp Nelson National Monument".

This bill expresses support for the United States' withdrawal from the Paris Agreement. The Paris Agreement was decided at the United Nations Framework Convention on Climate Change's 21st Conference of Parties in Paris, France, on December 12, 2015.

The NATO Burden Sharing Enforcement Act allows the Secretary of Homeland Security to discontinue granting visas to nationals of NATO countries that do not spend at least 2% of their GDP on national defense. This amends the Immigration and Nationality Act, potentially impacting visa availability for citizens of NATO member states not meeting defense spending obligations.

The "Middle Class Savings Act" adjusts the income tax bracket breakpoints for capital gains to provide tax relief. The bill amends the Internal Revenue Code of 1986, increasing the income thresholds for preferential capital gains tax rates. These adjustments aim to align capital gains tax brackets with current income tax brackets, effective for taxable years after 2024.

This bill disapproves and nullifies a rule issued by the Office of the Comptroller of the Currency concerning the review process for bank merger applications under the Bank Merger Act. By disapproving the rule, Congress prevents it from taking effect.

The Financial Integrity and Regulation Management Act (FIRM Act) aims to prevent federal banking agencies from using "reputational risk" as a basis for regulating or supervising depository institutions. This bill requires these agencies to remove considerations of reputational risk from their supervisory documents and prohibits them from creating rules, conducting examinations, or taking enforcement actions based on reputational risk management. Furthermore, the bill requires federal banking agencies to report to Congress on their implementation of these changes.

The "CBO Scoring Accountability Act" requires the Director of the Congressional Budget Office (CBO) to analyze major legislation for the first 10 years after enactment, including estimates of costs, revenue changes, and comparisons against previous estimates. It mandates a report to Congress if discrepancies between actual costs/revenue and prior estimates exceed 10 percent, ensuring transparency and accountability in legislative financial impacts. Federal departments and agencies are required to provide the CBO director with the information necessary to conduct these analysis. "Major legislation" is defined as any bill projected to result in mandatory spending or federal revenue changes equal to or greater than 0.25 percent of the current projected gross domestic product of the United States for that year.

The "Promoting New Bank Formation Act" aims to encourage the creation of new banks by easing regulatory burdens during their initial years. It allows for a phased-in approach to meeting capital requirements, simplifies business plan adjustments, and provides a more favorable leverage ratio for new rural community banks. The Act also expands agricultural lending authority for Federal savings associations and mandates a study on the decline of new banks to identify ways to promote their formation in underserved areas.

This resolution expresses support for National Child Abuse Prevention Month, highlighting the importance of preventing child abuse and supporting families. It emphasizes the need for increased awareness, education, and investment in evidence-based prevention programs to reduce child maltreatment and its long-term consequences. The resolution also supports efforts to help survivors heal and ensure justice for victims of childhood abuse and sexual abuse.

The White Oak Resilience Act aims to restore and enhance white oak populations and upland oak habitats across the United States through collaborative efforts between federal, state, tribal, and private entities. It establishes initiatives for research, restoration pilot programs on federal lands, and a grant program to support white oak regeneration. The Act also addresses tree nursery shortages and promotes sustainable forest management practices to improve white oak resilience and ensure a sustainable supply of seedlings.

The "Ensuring Sound Guidance Act of 2025" amends the Investment Advisers Act of 1940, requiring brokers and advisors to prioritize financial factors in investment decisions unless clients provide written consent otherwise, and mandates disclosures of expected and actual financial effects of investments. Additionally, the SEC is required to conduct studies on climate change disclosures in the municipal bond market and on regulations preventing the use of funds to influence officials in exchange for municipal securities business, and provide recommendations to Congress based on the findings.

The Foreign Investment Guardrails to Help Thwart (FIGHT) China Act aims to protect U.S. national security by imposing sanctions and investment restrictions related to China. It authorizes the President to sanction foreign entities involved in activities against U.S. interests and prohibits certain investments in sensitive technologies linked to countries of concern, particularly China. The act also requires notification of investments in covered national security technologies and mandates reports to Congress on enforcement and international cooperation. Additionally, it addresses securities-related concerns by requiring scrutiny of entities on specific lists to determine their eligibility for inclusion on the Non-SDN Chinese Military-Industrial Complex Companies List, and prohibits U.S. persons from holding securities of entities on that list.

The "Bank Failure Prevention Act of 2025" amends banking regulations to expedite the application process for bank and savings and loan holding companies. It sets strict deadlines for the Board to determine application completeness and mandates approval or denial within 90 days of submission, with automatic approval if the Board fails to act. This aims to streamline regulatory processes and promote efficiency in the banking sector.

The "Stop Chinese Fentanyl Act of 2025" aims to combat the flow of illicit fentanyl by imposing sanctions on Chinese entities and officials involved in the production and trafficking of synthetic opioids and their precursors. It broadens the definition of "foreign opioid trafficker" to include those who enable opioid trafficking through inaction and extends the period for reporting identified traffickers to Congress. The Act also requires the President to annually evaluate and report on the effectiveness of using presidential authority to address international drug trafficking, including considerations of costs, benefits, and stakeholder input. Additionally, it amends the International Emergency Economic Powers Act and the Trading with the Enemy Act to enhance oversight and accountability in addressing national emergencies related to international drug trafficking.

The Rectifying UDAAP Act amends the Consumer Financial Protection Act of 2010, modifying the rulemaking process for unfair, deceptive, or abusive acts or practices. It requires the CFPB to define "abusive act or practice," conduct cost-benefit analyses for new rules, and consider mitigating factors when assessing civil penalties. The act also sets new limitations and standards for the CFPB's enforcement authority, including where they can file enforcement actions, the clarity of their claims, and the remedies they can seek. Furthermore, it provides a notice and cure period for covered entities that self-report potential violations.

The "Civil Investigative Demand Reform Act of 2025" amends the Consumer Financial Protection Act of 2010, modifying the process for issuing and challenging civil investigative demands (CIDs) by the CFPB. These modifications include specifying timelines for issuing demands, requiring more detailed information in the demands, and creating a process for attorneys to ask questions about the scope of a demand. The bill also expands the grounds for setting aside a demand and allows for judicial review of the CFPB's denial of a petition to modify or set aside a demand.

The "Chief Herbert D. Proffitt Act of 2025" amends the Omnibus Crime Control and Safe Streets Act of 1968 to extend death benefits to retired law enforcement officers who die or are disabled from targeted attacks due to their service. The bill applies retroactively to pending matters before the Bureau of Justice Assistance, or those filed/accruing after the enactment date, with exceptions for actions against retired law enforcement officers that occurred on or after August 28, 2012.

The "Racehorse Tax Parity Act" amends the tax code to reduce the holding period for racehorses to 12 months, aligning them with other livestock and qualifying them as section 1231 assets. This change, effective for taxable years after 2024, simplifies tax treatment for racehorse owners.

The "Race Horse Cost Recovery Act of 2025" amends the Internal Revenue Code to classify all racehorses as eligible for a three-year depreciation period, which may offer tax benefits to racehorse owners. This reclassification applies to racehorses put into service after December 31, 2022.