Legislative Activity

The Unfair Tax Prevention Act amends the Base Erosion and Anti-Abuse Tax (BEAT) rules to specifically target certain U.S. companies connected to foreign tax systems operating outside their direct jurisdiction. These "foreign-owned extraterritorial tax regime entities" will now be automatically subject to BEAT, with specific exceptions removed and a portion of their cost of goods sold automatically treated as a base erosion benefit. This legislation aims to close loopholes related to complex, indirect foreign ownership structures.

The Revitalizing Downtowns and Main Streets Act establishes a new 20% federal tax credit for converting eligible, older commercial buildings into affordable housing. This incentive aims to increase housing supply by requiring that at least 20% of the converted units remain rent-restricted for low-income residents for 30 years. State agencies will allocate these credits, which are subject to a national cap of $12 billion, based on approved plans prioritizing financially necessary projects.

The **SCREENS for Cancer Act of 2025** seeks to reauthorize and update the National Breast and Cervical Cancer Early Detection Program (NBCCEDP). This legislation expands the program's focus to include cancer prevention and aims to reduce health disparities in screening access. The bill authorizes $235 million annually for fiscal years 2026 through 2030 and mandates a GAO study on program eligibility and service trends.

The Collegiate Housing and Infrastructure Act of 2025 permits qualifying charities to provide grants to college social or athletic organizations specifically for collegiate housing and infrastructure projects without jeopardizing their tax-exempt status. This legislation clarifies that such grants remain eligible for donor deductions, provided the housing primarily serves full-time students. The Act specifically excludes funding for physical fitness facilities from these provisions.

The Constitutional Concealed Carry Reciprocity Act of 2025 establishes a national standard for carrying concealed handguns across state lines. This act allows individuals legally permitted to carry in their home state to carry concealed in any other state that allows its residents to carry concealed firearms. The law does not override private property restrictions or prohibitions on government property, but it provides protections and legal recourse for those traveling in compliance with the new federal standard.

The Fair Access In Residency (FAIR) Act of 2025 aims to ensure equitable treatment of osteopathic (D.O.) and allopathic (M.D.) medical school graduates in residency applications. It requires hospitals receiving Medicare funds to report detailed data on D.O. and M.D. applicants and acceptances for each residency program. Hospitals failing to submit this required data will face a 2% reduction in their Medicare payments. This collected data will also be made publicly available to promote transparency in the residency recruitment process.

The Medical Supply Chain Resiliency Act aims to secure the U.S. supply of critical medical goods by diversifying trade relationships and reducing reliance on high-risk sources. It authorizes the President to enter into special "trusted trade partner agreements" that lower trade barriers with reliable allies. These agreements focus on regulatory cooperation, intellectual property protection, and ensuring supply chain stability during public health emergencies. The bill also establishes strict reporting and oversight mechanisms for Congress before any such agreement can take effect.

The Shifting Limits on Thresholds Act of 2025 (SLOT Act) revises the federal tax reporting requirement for slot machine winnings. Under this act, businesses will only need to file an information return for slot machine payouts of **$5,000 or more** per single play, effective after December 31, 2025. Furthermore, this $5,000 threshold will be automatically adjusted annually for inflation starting in 2027.

The HELPER Act of 2025 establishes a new FHA mortgage insurance program to assist first responders, educators, and law enforcement officers in purchasing homes. This program offers eligible first-time homebuyers 100% financing with no down payment required. Instead of monthly premiums, borrowers pay an upfront FHA insurance premium at closing.

This bill establishes a 23-member Commission tasked with studying the feasibility and planning for the creation of a National Museum of Irish American History in Washington, D.C. The Commission must develop comprehensive plans for the museum's establishment, operation, and governance, including a strategy to fund it without relying on future federal tax dollars for maintenance. The Commission is authorized specific funding for two fiscal years and will terminate 30 days after submitting its final required reports to Congress and the President.

The Major Richard Star Act ensures that military retirees with combat-related disabilities can receive both their military retirement pay and VA disability compensation concurrently without reduction. This law removes previous restrictions that caused military retirement pay to be offset by VA disability payments for these specific cases. The changes take effect on the first day of the month following the Act's enactment.

The "Pandemic Unemployment Fraud Enforcement Act" extends the statute of limitations to 10 years for prosecuting fraud related to specific pandemic unemployment programs. It applies to violations or conspiracies under Title 18 and Title 31 of the U.S. Code and rescinds $5,000,000 from previously allocated funds to offset the budget. The changes made by this law will begin on the date of enactment.

The Credit for Caring Act of 2025 establishes a new, non-refundable federal income tax credit for working family caregivers who incur significant expenses caring for a relative with long-term care needs. Eligible caregivers can claim a credit equal to 30% of qualified expenses exceeding \$2,000, up to a maximum annual credit of \$5,000. The bill specifies detailed requirements for the care recipient's needs, the types of allowable expenses, and includes income phase-out limits for claiming the benefit.

This bill, the Generating Retirement Ownership through Long-Term Holding Act, allows individual investors to defer paying taxes on capital gain dividends from mutual funds if those dividends are automatically reinvested into more fund shares. Taxes on these deferred gains are only due when the investor sells the shares or upon death. This provision aims to encourage long-term investment in mutual funds by providing immediate tax relief on reinvested earnings.

The Military Spouse Hiring Act amends the Internal Revenue Code to expand eligibility for the Work Opportunity Tax Credit (WOTC). This change allows employers to claim the tax credit for hiring qualified military spouses. A qualified military spouse is defined as someone certified as being married to a member of the U.S. Armed Forces.

The Metastatic Breast Cancer Access to Care Act aims to improve support for individuals diagnosed with metastatic breast cancer. This bill eliminates the standard waiting period for receiving Social Security disability insurance benefits and waives the 24-month waiting period for Medicare coverage. These changes ensure immediate access to crucial financial and healthcare support upon diagnosis.

The Mental Health Research Accelerator Act of 2025 establishes a new 25% tax credit for businesses investing in translational research for neurodegenerative diseases and psychiatric conditions. This credit is subject to annual spending caps and allocation rules prioritizing scientific merit and public-private partnerships. The goal is to accelerate the development of new treatments and devices for central nervous system disorders.

The Medicare Home Health Accessibility Act updates Medicare rules to explicitly include the need for occupational therapy as a valid basis for qualifying for home health services under both Part A and Part B. This change ensures that occupational therapy is treated equally alongside physical and speech therapy when determining eligibility for in-home care. These new provisions will take effect for services provided on or after January 1, 2026.

The American Innovation and R&D Competitiveness Act of 2025 revises how businesses treat research and experimental (R&E) expenditures for tax purposes. Taxpayers can now choose between immediately deducting R&E costs or amortizing them over a period of at least 60 months. This legislation also makes technical adjustments to ensure consistency between immediate deductions and claiming the research tax credit.

The Delphi Retirees Pension Restoration Act aims to restore the full pension benefits to eligible participants and beneficiaries under specific terminated pension plans, such as the Delphi Hourly-Rate Employees Pension Plan. It mandates the recalculation of benefits to match the full vested plan benefit, provides for lump-sum payments to cover past underpayments with interest, and funds these increased benefits through existing resources. The bill also includes provisions for the tax treatment of these payments, allowing recipients to spread the income over three years.