Legislative Activity

The STABLE Act of 2025 establishes a regulatory framework for payment stablecoins, limiting issuance to approved entities and setting standards for reserves, transparency, and risk management. It defines key terms, outlines the approval process for stablecoin issuers, and grants supervisory and enforcement powers to federal regulators, while also allowing state-regulated entities to operate under certain conditions. The act also includes customer protections, interoperability standards, a temporary ban on endogenously collateralized stablecoins, and directs studies on the broader digital asset landscape. Finally, the act clarifies that payment stablecoins are not to be considered securities under existing securities laws.

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.

The Maximum Pressure Act aims to increase pressure on Iran by codifying and expanding sanctions related to its nuclear program, ballistic missile development, support for terrorism, and human rights abuses. It targets key Iranian leaders, entities involved in arms sales, and various sectors of Iran's economy, while also enhancing congressional oversight of actions related to Iran sanctions. The bill also seeks to intensify financial pressure on the Islamic Revolutionary Guard Corps (IRGC) and prevent Iran from accessing international funds. Additionally, the act reinforces restrictions and oversight related to the IRGC and Ansar Allah (Houthis) and mandates a series of determinations and reports from government officials regarding Iran's activities.

The "Secure Family Futures Act of 2025" modifies the Internal Revenue Code to exclude certain debt instruments held by applicable insurance companies from being treated as capital assets. Additionally, it extends the period for applicable insurance companies to carry forward capital losses from 5 years to 10 years. These changes apply to indebtedness acquired and losses incurred in taxable years beginning after December 31, 2025, respectively.

The "No Iranian Energy Act" amends the Iran Freedom and Counter-Proliferation Act of 2012 to impose sanctions on the sale, supply, or transfer of natural gas to or from Iran.

The Black Vulture Relief Act of 2025 allows livestock producers and their employees to take black vultures that are causing or are reasonably believed to cause death, injury, or destruction to livestock. This act defines key terms related to black vultures and livestock production and requires individuals who take a black vulture to submit an annual report to the United States Fish and Wildlife Service. The Act prohibits the use of poison to take or attempt to take a black vulture. The Fish and Wildlife Service must provide a reporting form within 180 days of enactment.

The "Constitutional Concealed Carry Reciprocity Act" enables individuals with valid concealed carry permits or the legal right to carry concealed firearms in their home state to do so across state lines, provided they are not federally prohibited from possessing firearms and carry a valid photo ID. This law respects private and state/local government restrictions on firearms, protects individuals from unwarranted arrest, and allows legal action for violations of these rights. It also permits concealed carry in National Parks and other federal lands open to the public and clarifies that handguns include magazines and ammunition.

The SHARE Act of 2025 allows the FBI to share criminal history records with state licensing authorities for background checks required by interstate compacts. States can only use this information for these specific background checks and must adhere to federal regulations regarding its use and dissemination. This ensures that individuals seeking licenses or privileges to work in compact member states undergo necessary criminal history screenings. The bill defines key terms to ensure consistent interpretation and implementation across states.

The CEMAC Act aims to address concerns over a Central African Economic Monetary Community (CEMAC) regulation requiring international oil companies to return site rehabilitation funds to the Bank of Central African States (BEAC). It restricts U.S. funding to the IMF for CEMAC countries until the IMF clarifies that these funds cannot be counted toward a country's gross foreign exchange reserves. The Act also requires the U.S. to oppose any IMF proposals that would increase the IMF quota or modify the exceptional access policy for any CEMAC member state. This bill seeks to ensure transparency and accountability in the region's financial policies and protect U.S. investments.

The National Fallen Firefighters Memorial Coin Act directs the U.S. Mint to produce gold, silver, and half-dollar coins in 2026 to commemorate the service and sacrifice of U.S. firefighters. The sale of these coins will include surcharges, which will be donated to the National Fallen Firefighters Foundation to support its programs. The Act ensures that the coin production does not create net costs for the government and that the Treasury recovers all costs before surcharges are distributed.

The Air America Act of 2025 authorizes the Director of the CIA to award payments to former employees of Air America and affiliated companies who supported the U.S. government between 1950 and 1976, or to their survivors. Eligible individuals or their survivors could receive up to $40,000 for five years of qualifying service, with additional amounts for longer service, with a cap on total awards at $60 million. The Act establishes application procedures, limitations on attorney fees, and prohibits judicial review of the Director's decisions, while also requiring regular reports to Congress on the status of the award payments. This act does not qualify anyone for federal benefits like retirement, disability, or death benefits.

The "Access to Small Business Investor Capital Act" modifies reporting requirements for registered investment companies. It allows them to exclude certain indirect fees and expenses from their "Acquired Fund Fees and Expenses" calculations on registration statements. This exclusion applies specifically to fees and expenses resulting from investments in business development companies. The change affects fee disclosures on Forms N-1A, N-2, and N-3.

The Major Richard Star Act allows eligible combat-disabled veterans to receive both their retirement pay and disability compensation. This eliminates the previous offset that reduced retirement pay for those receiving disability compensation. The changes apply to payments beginning the month after enactment.

The HELPER Act of 2025 amends the National Housing Act to establish an FHA mortgage insurance program for first responders, including law enforcement officers, firefighters, paramedics, EMTs, and teachers. This program allows the Secretary of Housing and Urban Development to insure mortgages up to 100% of the appraised value for eligible first-time homebuyers, waiving down payment requirements but requiring an up-front mortgage insurance premium. Mortgagors must meet specific eligibility criteria, including being a first-time homebuyer, completing a housing counseling program, and meeting employment and good standing requirements as a first responder. The bill authorizes appropriations for fiscal years 2026 through 2032 and requires reauthorization of the program after 5 years.

The "Fair and Open Competition Act of 2025" seeks to ensure open competition and government neutrality in federal construction projects by preventing requirements for or bans against agreements with labor organizations. It prohibits discrimination based on labor affiliation, reduces construction costs, and expands job opportunities. The Act mandates revisions to regulations and allows exemptions only in special circumstances like public health or national security threats.

The "Decoupling from Foreign Adversarial Battery Dependence Act" prohibits the Department of Homeland Security from procuring batteries from specific foreign companies, primarily those with ties to China, starting in 2027. Waivers are permitted under certain conditions, such as lack of national security risk or use for research purposes, with congressional notification required. The Secretary of Homeland Security must report on the ban's impact on Department of Homeland Security operations and costs.

The American Innovation and R&D Competitiveness Act of 2025 modifies the tax treatment of research and experimental expenditures, allowing taxpayers to deduct these expenses in the year they are incurred rather than capitalizing them. This change applies to expenses related to the taxpayer's business and is effective for taxable years beginning after December 31, 2021. The act also includes provisions for electing to treat these expenditures as deferred expenses and updates related sections of the tax code.

The DMEPOS Relief Act of 2025 adjusts Medicare payment rates for durable medical equipment in areas without competitive bidding by extending a transition rule for setting payment rates in non-rural areas through 2025 and delaying the implementation of another regulation until 2026. This ensures continued use of existing payment rate calculations for durable medical equipment in non-competitive bidding areas. The Secretary of Health and Human Services is authorized to implement these changes.

This bill expresses the House of Representatives' support for maintaining the stepped-up basis under section 1014 of the Internal Revenue Code, which allows inherited assets to be adjusted to their current market value, protecting family-owned farms and small businesses from increased taxes. It opposes any changes to the tax code that would negatively impact the ability of these businesses to pass their operations on to the next generation. The bill recognizes the importance of generational transfers for the continuation of family farms, ranches, agribusinesses, and small businesses.

The "Tanning Tax Repeal Act of 2025" eliminates the federal excise tax on indoor tanning services. This bill removes Chapter 49 from the Internal Revenue Code, effectively repealing the tax. The repeal is applicable for services provided after the bill's enactment.