Legislative Activity

The Carried Interest Fairness Act of 2025 modifies tax rules for partnership interests, especially for those providing investment management services. It reclassifies certain capital gains as ordinary income for partners providing investment services, and sets rules for valuing partnership interests transferred for services. The bill also includes a 40% penalty for underpayments due to attempts to avoid these new rules. These changes generally apply to taxable years ending after the enactment date.

The "Truth in Tuition Act of 2025" mandates that colleges provide students with clear information about tuition costs, either through a multi-year tuition schedule or a single-year schedule accompanied by a multi-year cost estimate. Colleges opting for single-year schedules must also disclose the historical accuracy of their estimates. The Secretary of Education has the authority to waive these requirements under specific circumstances. This act aims to provide students with greater transparency and predictability regarding the cost of their education.

The Fairness for the Trades Act expands 529 college savings plans to allow for tax-free withdrawals to cover the cost of essential business equipment. This benefit applies to individuals working in specific trade fields, including construction, forestry, and specialized repair services. By treating these tools and machinery as qualified expenses, the bill aims to reduce the financial barriers for those entering or operating within the trades.

The Reliability for Ratepayers Act authorizes the Bonneville Power Administration (BPA) to establish a flexible, market-based compensation system independent of standard federal pay schedules. This change is designed to help the agency attract and retain the skilled workforce necessary to maintain reliable operations. By aligning salaries with comparable public-sector electric utilities, the bill aims to support the BPA’s mission of providing cost-effective power to consumers.

The "BRIDGE to Congress Resolution" amends House rules to eliminate the requirement that remote witness appearances at committee proceedings are only allowed at the discretion of the committee chair, allowing for more flexible participation.

This bill establishes a Select Committee on Electoral Reform to examine and recommend improvements to congressional election methods. The committee will investigate alternative election systems like proportional representation, ranked-choice voting, and open primaries, and will study potential changes to redistricting and the size of the House of Representatives. It must submit a final report with recommendations to Congress and the President within one year. The Select Committee will not have legislative jurisdiction.