Legislative Activity

The "Safeguarding U.S. Supply Chains Act" restricts the advanced manufacturing production credit for eligible components produced by foreign entities of concern. It amends the Internal Revenue Code to disallow the credit for components produced by these entities and specifies that qualifying battery components cannot use technology from such entities. These changes aim to bolster national security by reducing reliance on foreign entities of concern in critical supply chains. The restrictions are effective for components produced and sold after the enactment of this Act.

This bill increases the maximum amount of housing loan guaranty entitlement available to certain veterans. Specifically, it raises the limit to 25% of 1.5 times the Freddie Mac conforming loan limit. This adjustment aims to provide greater home buying power for eligible veterans.

The IMPACT Act aims to reduce emissions from cement, concrete, and asphalt production through the creation of an "Advanced Cement, Concrete, and Asphalt Production Research Program." This program will support research, development, and demonstration of advanced technologies for low-emissions production, and foster collaboration between government, industry, and universities. The goal is to enhance U.S. industrial competitiveness, strengthen supply chains, and create jobs in the process. The program is set to sunset after seven years.

The "Farm to Fly Act of 2025" aims to boost the production and use of sustainable aviation fuels by including them in Department of Agriculture bio-energy programs. It amends existing definitions to recognize sustainable aviation fuel and directs the Secretary of Agriculture to promote its development through collaborative initiatives and manufacturing assistance. This act supports U.S. agriculture, enhances energy security, and promotes clean energy in the aviation sector by utilizing sustainable biomass resources.

The "Permanent Tax Cuts for American Families Act of 2025" makes permanent the increased standard deductions, raising them to $18,000 for single filers and $12,000 for married filers. These amounts will be adjusted for inflation using the Consumer Price Index (CPI). This change applies to taxable years starting after the law is enacted.