Legislative Activity

The SAFE Guidance Act requires major financial agencies to clearly state that their guidance documents do not carry the force of law. This statement must appear prominently on the first page of any new guidance issued. The purpose is to ensure regulated entities understand that following non-binding suggestions is not the same as complying with actual law.

The Investing in All of America Act of 2025 revises the Small Business Investment Act of 1958 by updating leverage calculation definitions and adjusting the maximum borrowing limits for Small Business Investment Companies (SBICs). The bill lowers the general maximum leverage cap for standard SBICs from $300 million to $200 million. Furthermore, it expands exclusions from leverage calculations for investments made in specific areas, such as low-income or rural areas, critical technology, or small manufacturers.

The ACCESS Act of 2025 aims to support small businesses by significantly raising the offering threshold that requires a review by a public accountant, increasing it from $\$100,000$ to $\$250,000$. This new threshold may be further increased by the SEC up to $\$400,000$ based on recommendations from key advocacy offices. The bill also includes technical updates to correct outdated cross-references within the Securities Act of 1933.

The 7(a) Loan Agent Oversight Act mandates that the Small Business Administration (SBA) submit a new annual report to Congress detailing the activities of 7(a) loan agents. This report will track agent counts, involvement in fraudulent loans, referral fee amounts, and provide an analysis of high-risk agents. The goal is to increase transparency and oversight regarding the consultants who assist applicants seeking SBA 7(a) loans.

This resolution expresses gratitude to the families of first responders who died in the line of duty, known as Gold Shield Families. It recognizes the profound sacrifice made by these families and calls upon local communities to support the nonprofit organizations that provide them with essential resources and aid during their time of need. The bill emphasizes the nation's ongoing commitment to honoring both the fallen heroes and their surviving loved ones.

This bill establishes a dedicated, independent Inspector General (IG) position specifically for the Bureau of Consumer Financial Protection (BCFP). It changes the appointment process, mandates regular testimony before Congress, and ensures dedicated funding for the new IG office. The law takes effect upon the Senate confirmation of the first BCFP Inspector General, at which point the current joint IG role will revert solely to overseeing the Federal Reserve Board.

This resolution appoints Representatives Rutherford, Garbarino, Hinson, and Moran to the House Committee on Ethics. This committee is responsible for maintaining the ethical standards of the House. The resolution formally establishes the membership of this important committee.

The PIIA Reform Act aims to reduce improper payments and fraud within federal programs by establishing an "Overpayment Czar," expanding the scope of improper payment identification, and implementing penalties for non-compliant agencies. It mandates agencies to submit annual reports to Congress detailing progress in financial controls, fraud risk identification, and strategies to curb fraud. The Act also promotes state investment in payment integrity systems and modifies data sharing protocols to prevent improper payments.

The USA Batteries Act seeks to amend Superfund excise taxes by removing lead oxide, antimony, and sulfuric acid from the list of taxable chemicals. This change aims to alleviate the tax burden on domestic battery manufacturers, ensuring fair competition with imported batteries. The Act recognizes the economic importance and high recyclability of lead batteries, which are crucial for various sectors, and emphasizes the need to support American manufacturing and jobs in the battery industry. Ultimately, the Act intends to bolster the global competitiveness of the U.S. lead battery industry by reducing raw material costs.

The China Exchange Rate Transparency Act of 2025 directs the Secretary of the Treasury to advocate for increased transparency from China regarding its exchange rate practices within the International Monetary Fund (IMF). It calls for stronger IMF oversight of China's exchange rate policies, inclusion of any differences between China's policies and those of other major currencies in IMF consultations, and closer consideration of China's role in the international monetary system during IMF governance reviews. The Act will terminate once China adheres to IMF exchange rate rules and has similar policies to other major currencies, or seven years after enactment.

This resolution expresses gratitude and acknowledges the sacrifices made by Gold Shield Families, the families of fallen first responders. It honors these families of fallen police officers, firefighters, EMTs, and other emergency personnel. The resolution directs that a copy be sent to the President and made public, ensuring their sacrifices are remembered and recognized nationwide.