Legislative Activity

This bill implements significant reforms to foreign intelligence surveillance authorities, primarily by establishing strict new limitations and warrant-like requirements for accessing the communications data of U.S. persons collected under Section 702. It generally prohibits warrantless queries for U.S. person data, creating only four narrow exceptions, and mandates detailed record-keeping for all searches. Additionally, the legislation provides a nine-month extension of the underlying Section 702 authority until March 12, 2027.

This bill enacts significant reforms to the Foreign Intelligence Surveillance Act (FISA) by prohibiting the "reverse targeting" of U.S. persons and individuals located in the U.S. It also closes loopholes to prevent warrantless surveillance of people inside the country and establishes stricter court supervision, including warrant requirements, for targeting U.S. persons for foreign intelligence collection. Finally, the legislation includes a three-month extension of Section 702 authority.

The SLUSH FUND Act of 2026 imposes a 100% tax on certain settlement payments received by taxpayers from funds derived from civil lawsuits against the United States filed by former Presidents or their families. This legislation also establishes strict new reporting requirements for these payments, including public disclosure of the filed returns. The bill aims to prevent unauthorized and nontransparent financial arrangements benefiting specified individuals.

This Act significantly increases the excise tax on stock buybacks for large oil and gas companies from 1% to 25%. This higher tax applies specifically to corporations meeting a $1 billion average annual gross receipts threshold and primarily engaged in the oil or gas business. The 25% rate remains in effect until the national average weekly retail price of regular gasoline drops below a specified trigger point for five consecutive weeks.

The Subpoena Abuse Prevention Act reforms government access to customer records held by phone and internet companies by requiring specific identification for all subpoenas. It prohibits using subpoenas to target constitutionally protected activities and mandates that the government certify the subpoena's lawful purpose. Furthermore, the bill requires federal agencies to issue annual public reports detailing their use of administrative subpoenas.

This joint resolution expresses Congressional disapproval of a new rule from the Centers for Medicare & Medicaid Services (CMS) that would have required prior authorization for specific services under the WISeR Model. By disapproving the rule, Congress ensures that this CMS requirement will not take effect.

This bill completely repeals the Military Selective Service Act, eliminating the legal authority for the federal draft registration system. It transfers all assets and personnel from the Selective Service System within 180 days. Furthermore, the legislation prevents any federal or state entity from penalizing individuals for past failure to register. The rights of conscientious objectors remain unaffected by this repeal.

This resolution officially designates May 16, 2026, as "Kids to Parks Day." The day aims to promote healthy outdoor recreation, environmental stewardship, and encourage families to visit local, state, and national parks. It recognizes the importance of outdoor access for youth health, education, and community strengthening.

The KOMBUCHA Act aims to support domestic manufacturers by exempting low alcohol by volume (no more than 1.25% ABV) kombucha from federal taxes levied on wine and beer. This legislation specifically defines qualifying kombucha as a beverage fermented solely by a SCOBY using standard ingredients. The bill ensures these producers are not subject to existing complex federal beverage tax regulations.

This bill extends key surveillance authorities under Title VII of the Foreign Intelligence Surveillance Act (FISA) until May 21, 2026. It also mandates the public release of a specific Foreign Intelligence Surveillance Court opinion related to Section 702 certifications, allowing for necessary redactions to protect intelligence sources and methods.

The Speedy Tariff Refund Act of 2026 mandates the immediate, automatic refund of all duties unlawfully collected under the International Emergency Economic Powers Act. This legislation requires U.S. Customs and Border Protection to issue these refunds, with interest, within 30 days without requiring any formal request or documentation from importers. Congress strongly urges businesses that benefited from these duties to pass the refunds along to affected customers and families.

The Drug Deal Disclosure Act mandates the public release of all federal government agreements with drug manufacturers concerning pricing, sales, and import conditions. This transparency requirement applies to specific existing deals and any future agreements made after enactment. The law strictly limits what information can be withheld, preventing redactions based on political embarrassment. Finally, it requires analyses from the CBO and GAO on the economic and budgetary effects of these disclosed deals.

The Modernization of Derivatives Tax Act of 2026 overhauls the Internal Revenue Code's treatment of derivatives by mandating annual recognition of gains and losses, generally classifying them as ordinary income. The bill establishes detailed rules for "investment hedging units" to coordinate tax treatment between derivatives and their underlying assets. Furthermore, it repeals several outdated rules concerning capital gains and straddles while making extensive conforming amendments across the tax code.

The Pedophile Financial Accountability Act mandates a thorough investigation by FinCEN into potential Bank Secrecy Act violations by financial institutions concerning transactions involving Jeffrey Epstein. This inquiry will specifically examine failures to report suspicious activity and delays in disclosing Epstein's financial dealings. The resulting report to Congress must detail these findings, and any willful violations of anti-money laundering laws will be referred to the Attorney General.

This bill, the Ending the Carried Interest Loophole Act, fundamentally changes how partnership interests received as compensation—often by investment managers—are taxed. It redefines the valuation of these interests and introduces a new mechanism that generally requires the income to be treated as ordinary income rather than long-term capital gains. The legislation aims to eliminate preferential tax treatment for compensation derived from investment or asset development businesses.

This resolution formally recognizes and honors the six Oregon athletes who represented the United States at the 2026 Milano Cortina Olympics and Paralympics. It congratulates these athletes and acknowledges the vital support provided by their families, coaches, and staff. The bill celebrates the accomplishments of all Oregonian competitors at the Games.

The Getting Rid of Abusive Trust Schemes Act (GRATS Act) imposes new minimum term and remainder value requirements on Grantor Retained Annuity Trusts (GRATs) to qualify for special tax treatment. It also changes the tax treatment for certain transfers between a trust and its deemed owner, treating them as sales or exchanges. Finally, the bill mandates that when the deemed owner of an applicable, non-revocable grantor trust pays the trust's income taxes, that payment is treated as a taxable gift.

The PPLI Abuse Act fundamentally changes the tax treatment of certain investment-oriented private placement life insurance and annuity contracts, classifying them as non-insurance products for tax purposes. This subjects contract holders to annual taxation on investment gains and subjects certain distributions to ordinary income tax rates. The bill also establishes stringent new initial and annual reporting requirements for issuers of these contracts, backed by severe penalties for non-compliance.

The Health Workforce Innovation Act establishes a grant program to fund community-driven training initiatives for allied health professionals. By supporting partnerships between vocational programs and health centers, the bill aims to increase the supply of essential healthcare workers in rural and underserved communities.

The Privacy Protection Updates Act significantly strengthens protections against government searches and seizures of protected materials, such as journalists' work product. It establishes a strict exclusionary rule, preventing illegally obtained materials and derived evidence from being used in any proceeding. Furthermore, the Act imposes rigorous new warrant requirements for accessing these materials, including judicial review for emergency searches.