Legislative Activity

The Middle Market IPO Cost Act mandates a comprehensive study, led by the Comptroller General in coordination with the SEC and FINRA, to analyze the direct and indirect costs associated with Initial Public Offerings (IPOs) for small and medium-sized companies. This analysis will compare IPO expenses against alternative financing methods and assess the impact of these costs on capital formation and retail investors. The final report, due within 360 days, must include findings and recommendations for legislative or administrative changes.

The Financial Technology Protection Act of 2025 establishes an Independent Financial Technology Working Group to research and recommend regulations combating the illicit use of digital assets by terrorists and criminals. The bill also mandates a presidential report detailing strategies to prevent foreign actors from evading U.S. sanctions using emerging technologies. This legislation aims to secure the financial system against modern threats posed by new financial technologies.

The Equal Opportunity for All Investors Act of 2025 mandates that the SEC create a comprehensive certification examination to allow non-wealthy individuals to qualify as accredited investors. Passing this free, standardized test will grant access to investment opportunities previously reserved for the wealthy. This aims to broaden participation in private markets by ensuring a baseline level of financial competency among new investors.

The Small Entity Update Act mandates that the Securities and Exchange Commission (SEC) periodically study and update its definition of "small entity" for regulatory purposes. This process requires the SEC to report findings and recommendations to Congress to ensure the definition aligns with market growth and covers a meaningful number of businesses. Following these studies, the SEC must revise its rules and periodically adjust any associated dollar thresholds for inflation.

The Supporting Upgraded Property Projects and Lending for Yards (SUPPLY) Act establishes a new federal insurance program, managed by HUD, to specifically back second mortgages used for financing the construction of Accessory Dwelling Units (ADUs). This legislation also directs the FHFA to allow Fannie Mae and Freddie Mac to purchase and securitize these newly insured ADU construction loans, subject to risk oversight. The goal is to increase the availability of financing for property owners looking to add secondary housing units.

The Innovate to Save Lives Act creates a new 10% tax credit for small businesses conducting qualified research aimed at mitigating threats from specified drugs like fentanyl and methamphetamine. This incentive targets research focused on preventing the use of or treating the effects of these dangerous substances. The provision is designed to encourage private sector innovation in combating the ongoing drug crisis.

The Jobs in the Woods Act establishes a new competitive grant program administered by the Secretary of Agriculture to fund career pathway training in forestry. These grants aim to support workforce development in eligible rural areas by focusing on forestry operations and product processing industries. Priority will be given to programs that address aging workforces, retain young residents, and partner with educational institutions. Funding is authorized from Fiscal Year 2026 through 2030.

The Anti-CBDC Surveillance State Act strictly prohibits the Federal Reserve from directly or indirectly issuing a Central Bank Digital Currency (CBDC) to individuals. This legislation prevents the Fed from developing, testing, or implementing any digital currency that functions as a direct liability of the Federal Reserve. Furthermore, Congress asserts that any authority to create such a digital asset must explicitly come from Congress itself.

The **Anti-CBDC Surveillance State Act** is a comprehensive bill designed to establish clear regulatory frameworks for digital assets under the SEC and CFTC while strictly prohibiting the Federal Reserve from issuing a Central Bank Digital Currency (CBDC). It creates specific rules for the offering, trading, and custody of digital commodities, aiming to foster innovation through regulatory clarity. Ultimately, the legislation seeks to protect individual self-custody rights and prevent the creation of a government-controlled digital currency that could enable mass surveillance.

The Veterans Health Care Stamp Act mandates the U.S. Postal Service to create and sell a special postage stamp dedicated to funding veteran medical care. All proceeds from the sale of this stamp must be directly transferred to the Department of Veterans Affairs for veteran treatment. The stamp will be made available for purchase annually around Veterans Day.

The Holy Sovereignty Protection Act ensures that any U.S. citizen elected as the Pope cannot have their citizenship revoked by the United States. Furthermore, this legislation grants federal income tax exemption to any U.S. citizen serving as Supreme Pontiff for any tax year they hold the position. This protection and tax break take effect upon the bill's enactment.

The Medicare Orthotics and Prosthetics Patient-Centered Care Act aims to enhance protections for Medicare beneficiaries receiving custom braces and artificial limbs. This bill ensures that payment will not be made for certain devices shipped directly to a patient without required training from a qualified practitioner. Additionally, it expands exemptions from competitive bidding for certain providers and clarifies access to replacement custom orthotic devices.

The Export Controls Enforcement Act addresses the critical shortage of overseas personnel responsible for verifying that controlled U.S. exports are used as intended. This bill establishes a new, five-year Export Control Officer Program to significantly increase the number of officers stationed abroad. These officers will conduct essential end-use checks, advise foreign partners, and help prevent the diversion of sensitive American technology.

The Extreme Heat Emergency Act of 2025 amends federal law to formally recognize extreme heat and drought as qualifying events for major disaster declarations. This change ensures that regions suffering from severe heatwaves or droughts can access the same level of federal disaster relief assistance previously reserved for events like hurricanes or earthquakes.

The Microplastics Safety Act mandates the FDA to conduct a comprehensive study on the human health impacts of microplastic exposure through food and water. This research must specifically investigate risks to children's health, endocrine function, cancer, and reproduction. Following the study, the FDA is required to report its findings and recommend necessary legislative or regulatory actions to Congress.

The Asunción Valdivia Heat Illness, Injury, and Fatality Prevention Act of 2025 mandates that employers protect workers from dangerous heat stress by establishing comprehensive safety standards. This Act requires the Secretary of Labor to create evidence-based rules covering engineering controls, administrative procedures, required training, and paid rest breaks to prevent heat-related illness. Furthermore, the law establishes strict enforcement mechanisms, whistleblower protections, and specific timelines for the implementation of these new federal heat protection standards.

The CIRCLE Act aims to boost domestic recycling capacity by introducing a new, temporary federal tax credit for investments in recycling infrastructure. This credit, set at 30% of qualified investment, incentivizes modernizing facilities and increasing the supply of domestically recycled materials. The bill also enhances the definition of recyclable materials to support U.S. markets against foreign competition.

The DIGNIDAD Act of 2025 is a comprehensive bill that significantly overhauls U.S. immigration policy across five major divisions. Division A focuses on aggressive border security enhancements, infrastructure modernization, and increased criminal penalties for immigration offenses, while Division B establishes pathways to legal status for long-term residents who entered as children and creates a temporary protection program for others. Finally, Division C aims to improve legal immigration by reducing green card backlogs, streamlining employment and student visas, and providing new discretionary relief for family separation cases.

The Veteran Burial Timeliness and Death Certificate Accountability Act addresses significant delays in obtaining death certificates for veterans who die from natural causes, often due to VA medical staff delays. This bill mandates that VA medical providers must certify a veteran's death within 48 hours or allow the local medical examiner to step in. Furthermore, the VA must annually report on its compliance with this new timely certification requirement.

The End the Cyprus Embargo Act lifts the existing policy that automatically denies requests to export U.S. defense articles and services to the Republic of Cyprus. Congress finds that allowing these defense sales strengthens U.S. security interests in Europe by reducing Cyprus's reliance on other nations for military equipment. This change is contingent on Cyprus meeting certain requirements and allows the President to reinstate the denial policy temporarily for national security reasons.