Legislative Activity

The Rural Microentrepreneur Assistance Act of 2025 aims to strengthen support for small businesses in rural areas by increasing the maximum microloan amount to $\$75,000$ and allowing loan funds to cover building and construction costs. This legislation also extends the program's authorization through 2030. A key change requires microloan organizations to now match 100 percent of federal funds received.

This resolution celebrates the 20th anniversary of the Renewable Fuel Standard (RFS), recognizing its foundational role in strengthening American energy security and supporting rural economies. It affirms that the RFS has successfully driven innovation, reduced greenhouse gas emissions, and provided significant economic benefits nationwide. The bill concludes by supporting the continued diversification of the nation's transportation fuel supply through the RFS.

The VARIANCE Act adjusts federal weight limits specifically for commercial trucks transporting unpackaged, homogeneous dry bulk goods. This allows vehicles carrying these materials to temporarily exceed standard single or tandem axle weight limits by up to 110 percent, while still adhering to the overall maximum vehicle weight.

The Protecting Endowments from Our Adversaries Act imposes severe federal excise taxes on large private colleges and universities with over \$1 billion in assets. These taxes target investments in entities listed on U.S. government watchlists, such as those related to national security concerns. Specifically, the bill imposes a 50% tax upon acquiring such restricted investments and a 100% tax on any income or gains generated from them. This legislation aims to penalize institutions for financial ties with specified adversarial persons or companies.

The PRC Military and Human Rights Capital Markets Sanctions Act of 2025 prohibits U.S. persons from purchasing, selling, or holding securities related to entities connected to the Chinese military or human rights abuses. This measure requires the President to publish a list of these "covered entities" drawn from various U.S. government watchlists. Individuals found in violation face significant civil and criminal penalties, including substantial fines and potential imprisonment. Existing prohibited holdings must be divested within specified timeframes after the bill's enactment.

The No Capital Gains Allowance for American Adversaries Act mandates that profits from investments tied to designated "countries of concern"—including China, Russia, Iran, Belarus, and North Korea—be taxed as ordinary income rather than lower-rate capital gains. This legislation also eliminates the stepped-up basis for heirs inheriting such assets and requires the SEC to establish clear definitions and public disclosure rules for affected securities. These new tax treatments will take effect starting January 1, 2026.

The No China in Index Funds Act prohibits index funds from investing in companies defined as Chinese entities. Existing investments in these companies are granted a 180-day grace period before they must be divested. Violations of this prohibition will result in significant civil penalties determined by the SEC.

The AFIDA Improvements Act of 2025 updates the rules for reporting foreign ownership of U.S. farmland under the Agricultural Foreign Investment Disclosure Act of 1978. This bill lowers the minimum reporting threshold to 1% ownership for certain foreign investors and clarifies enforcement procedures for the Secretary of Agriculture. Furthermore, it mandates information sharing between the Department of Agriculture and national security officials (CFIUS) regarding these foreign investment disclosures. The Act also requires updates to official handbooks and an analysis of implementing a fully electronic reporting system.

The HEALTH Panel Act establishes a new Panel of Health Advisors within the Congressional Budget Office (CBO) composed of 15 independent experts. This Panel will provide technical guidance and recommendations to improve the CBO's analysis, modeling, and cost estimates related to federal health care policy. The CBO Director must publicly report on how these expert recommendations are incorporated into official CBO projections.

This resolution expresses the Senate's support for designating May 2025 as "National Beef Month." It recognizes the significant economic contributions of the U.S. cattle industry and highlights the nutritional value of beef. The bill serves as a formal acknowledgment of the importance of beef to American agriculture and consumers without enacting new laws.

The Business Owners Protection Act of 2025 terminates specific, unused regulatory authorities granted to the Securities and Exchange Commission (SEC) under the Dodd-Frank Act. If the SEC failed to initiate rulemaking for these discretionary powers by January 1, 2025, those authorities automatically expire upon the enactment of this Act. The SEC is required to publicly report to Congress on all terminated authorities within 180 days.

The SNAP Next Step Act of 2025 aims to connect SNAP recipients with job training opportunities under the Workforce Innovation and Opportunity Act. It defines specific criteria for SNAP participants to qualify as "covered individuals" eligible for these training programs. Additionally, the bill allows states to develop a public employment calculator to help SNAP recipients easily determine the financial impact of accepting new employment on their total benefits.

This joint resolution disapproves a final rule issued by the Bureau of Consumer Financial Protection (BCFP) that defined "Larger Participants" in the market for general-use digital consumer payment applications. By passing this resolution, Congress nullifies the BCFP's specific definition and any associated regulatory requirements for these digital payment providers. Essentially, this action prevents the BCFP from implementing its proposed oversight framework for large digital payment companies.

This resolution expresses strong support for designating May 2025 as "Renewable Fuels Month." It recognizes the vital role renewable fuels play in reducing carbon emissions and lowering consumer fuel prices. Furthermore, the bill highlights how these fuels support rural economies and decrease U.S. reliance on foreign energy sources.

The Safe and Smart Federal Purchasing Act mandates a review of the federal government's "lowest price technically acceptable" sourcing method. This review will determine if this common purchasing practice creates any risks to national security. The findings of this assessment must be reported to key Congressional committees within 180 days of the Act's enactment.

The Organic Imports Verification Act of 2025 mandates annual reporting to Congress on residue testing for imported organic animal feedstuffs, especially those shipped in bulk. The Secretary of Agriculture must develop a risk-based plan to determine which imported organic feeds will undergo annual residue testing. If testing reveals prohibited substances above established organic limits, the affected feedstuff cannot be sold or labeled as organic.

This Act imposes immediate sanctions, including asset freezes and visa bans, on the Popular Resistance Committees (PRC) and its affiliates for their involvement in terrorism, particularly the October 7th attacks. It also mandates the Secretary of State to report on designating the PRC and the Lions' Den as global terrorists. The legislation further requires ongoing reviews to identify and address successor or affiliated terrorist groups.

The Tax Cuts for Veterans Act of 2025 aims to significantly reduce the federal income tax burden on military personnel and retirees. This act makes all military retirement pay and specific disability or combat-related benefits entirely tax-free for current and former members of the U.S. Armed Forces. It also introduces specific tax exclusions for members of other uniformed services regarding their retirement pay. These provisions apply to all tax years beginning after the date of enactment.

The Social Security Check Tax Cut Act temporarily reduces the amount of Social Security retirement and survivor benefits subject to federal income tax for the 2026 and 2027 tax years. This change separates disability benefits from retirement/survivor benefits when calculating taxable income, offering a 10% reduction in 2026 and a 20% reduction in 2027 for the latter. The Act ensures that Social Security Trust Funds are fully replenished from the general fund to offset any lost revenue due to the tax break.

The Securing American Agriculture Act mandates an annual assessment of U.S. reliance on China for critical agricultural products and inputs. This report will identify supply chain vulnerabilities that could be exploited by foreign adversaries. Based on these findings, the Secretary of Agriculture must recommend strategies to onshore or nearshore the production of these essential farming supplies. The data collection for this assessment will rely solely on voluntary submissions from private companies to protect confidential business information.