Legislative Activity

The "10 Percent Credit Card Interest Rate Cap Act" caps credit card interest rates at 10%, encompassing all finance charges, and restricts additional fees. Violators will forfeit interest, and consumers can recover overpayments through legal action. States can enact stricter consumer protections, and the provisions will sunset on January 1, 2031.

The "Geothermal Cost-Recovery Authority Act of 2025" allows the Secretary to charge geothermal lease applicants for administrative costs related to processing lease applications and inspecting/monitoring activities until 2032. The Secretary will consider existing cost-sharing agreements and can reduce the reimbursement amount if it would cause economic hardship or if a lower amount is needed to encourage geothermal resource use. It also requires the Secretary of the Interior to submit a report assessing the impact of these changes on the Bureau of Land Management's geothermal program.

The "Oyster Reef Recovery Act of 2025" establishes a program to provide financial and technical assistance for oyster reef restoration and conservation projects. It creates a competitive grant program supporting research, planning, and workforce training related to oyster reefs. The Act authorizes $15 million annually from 2026 to 2030 for these initiatives, aiming to enhance the health and resilience of oyster reefs while supporting coastal communities.