Legislative Activity

The Flatside Wilderness Additions Act expands the existing Flatside Wilderness area in the Ouachita National Forest by approximately 2,212 acres. This legislation officially renames the designated area as the Flatside-Bethune Wilderness. The Act ensures that existing authorities for managing fire, insects, and disease within the wilderness remain intact.

The S-CAP Act of 2025 significantly increases the maximum number of shareholders a business can have while qualifying for S corporation tax status, raising the limit from 100 to 250. This change is designed to allow more small businesses to benefit from pass-through taxation. This new 250-shareholder limit will take effect for tax years beginning after December 31, 2025.

This bill disapproves and invalidates the Consumer Financial Protection Bureau's rule regarding overdraft lending practices of very large financial institutions. The rule, found in the Federal Register, is nullified by this disapproval.

The "Stop Tax Penalties on American Hostages Act of 2025" postpones tax deadlines and waives penalties for U.S. nationals held hostage or wrongfully detained abroad, including their spouses, by disregarding the period of detention when determining tax liabilities. It requires the Secretary of State and the Attorney General to identify affected individuals and inform the Secretary of the Treasury. The Secretary of the Treasury will establish a program for eligible individuals to apply for a refund or abatement of penalties and fines related to the "applicable period" from January 1, 2021, to the date this law is enacted. This ensures that those who have been held hostage or wrongfully detained are not penalized for their inability to meet tax obligations during their captivity.

The "International Nuclear Energy Financing Act of 2025" aims to promote nuclear energy by directing the Secretary of the Treasury to advocate for the removal of prohibitions on financial and technical assistance for nuclear energy generation and distribution at international development banks. It also seeks to establish "Nuclear Energy Assistance Trust Funds" to provide financial and technical support for nuclear energy projects in borrowing countries, ensuring competitive financing and adherence to U.S. or allied standards. The Act requires annual reporting on these efforts and will terminate 10 years after enactment.

This bill allocates $22,407,000 from the House of Representatives' funds to cover the expenses of the Committee on Financial Services for the 119th Congress, including staff salaries. The funds are divided into two equal amounts available for the first and second sessions of Congress. Payments will be made through vouchers authorized by the Committee and following the regulations set by the House Administration Committee.