Legislative Activity

This bill formally elects specific members to serve on the House of Representatives' standing committees for Armed Services, the Judiciary, Oversight and Government Reform, and Veterans Affairs. It confirms the representatives who will participate in these committees.

The "Small Business Growth Act" increases the amount small businesses can deduct for depreciable assets, incentivizing investment in equipment and technology. It raises the expensing limit to $2,000,000 and the investment limitation to $3,500,000, adjusting the base year for inflation adjustments to 2026. These changes apply to property placed in service in taxable years beginning after December 31, 2025.

The Family First Act introduces several changes to the tax code, including an expanded child tax credit, a new tax credit for pregnant mothers, and simplification of the earned income credit. The act also eliminates the additional exemption for dependents and the head of household filing status. Additionally, it modifies the child and dependent care tax credit and removes the limitation on deducting state and local taxes for individuals.

The "Low Income Housing for Defense Communities Act" aims to increase affordable housing options for military personnel and their families by modifying income calculations for low-income housing tax credits and tax-exempt bonds, excluding military basic housing allowances from income evaluations. It further incentivizes construction near large military installations by classifying buildings within 15 miles as located in a difficult development area, thereby increasing the available Low-Income Housing Credit. This act intends to support military communities by making housing more accessible and affordable.