Rep. Andy Barr

Maddy summaryHR 3447, the Chip Security Act, requires manufacturers to equip specific advanced integrated circuits (classified under export control numbers like 3A090) with security mechanisms before exporting them. These mechanisms must verify location and prevent unauthorized access, diversion, or tampering. The law mandates this for covered chips within 180 days of enactment, with a follow-up assessment within one year to develop additional security requirements. It directly affects U.S. chip exporters and importers of these high-tech products, aiming to strengthen export control compliance and national security.

Maddy summaryThis bill authorizes the Treasury Secretary to direct the FDIC and NCUA to create temporary emergency programs that fully insure non-interest-bearing transaction accounts at banks and credit unions during financial crises. The programs can only be activated if the Treasury determines a banking or credit union stress event is occurring that threatens economic stability, and they are limited to a maximum duration of nine months with strict cost caps and congressional oversight. If the programs incur losses, the FDIC and NCUA would recover those costs through special assessments on the institutions they insure. The bill also requires Treasury testimony to Congress within 30 days of program activation and a Government Accountability Office review within 90 days after the programs end.

Maddy summaryThe Military Financial Literacy Act of 2026 expands personalized financial and housing counseling services for members of the Armed Forces. It requires the Department of Defense to establish a one-on-one counseling program within one year that covers credit management, budgeting, anti-predatory lending, rental planning, VA home loans, and legal protections under the Servicemembers Civil Relief Act. The program must partner with HUD-approved, tax-exempt Veteran Service Organizations that have expertise in financial literacy and housing stability. The Secretary of Defense must submit a report to Congress within two years detailing the number of service members who received counseling, completion rates, and indicators of financial stress or housing instability among participants.

Maddy summaryHR 7056, the Community Bank Regulatory Tailoring Act, raises asset thresholds across multiple banking regulations to expand regulatory relief for smaller community banks. It directly affects banks with assets below newly increased limits (e.g., raising the $1 billion threshold to $3 billion for certain rules), meaning more institutions qualify for simplified oversight. Key provisions include automatic, GDP-adjusted updates to these thresholds every five years starting in 2031, ensuring thresholds keep pace with economic growth without new legislation. The bill aims to reduce compliance burdens for community banks by aligning regulatory triggers with current economic scale.

Maddy summaryHR 1799, the Financial Reporting Threshold Modernization Act, raises reporting thresholds for financial institutions handling large cash transactions. It increases the threshold for currency transaction reports from $10,000 to $30,000 and adjusts suspicious activity report thresholds from $5,000/$2,000 to $10,000/$3,000. The bill requires automatic updates to these thresholds every five years using the Consumer Price Index to account for inflation. This directly affects banks, money services businesses, and other entities that must file these reports under U.S. financial regulations.

Maddy summaryThe Fiscal Contingency Preparedness Act (HR 4642) requires the Treasury Secretary and OMB Director to annually examine how the federal government would respond to major crises like recessions, pandemics, natural disasters, or cyberattacks, including their short- and long-term fiscal impacts. It mandates these assessments be included in an existing annual report and specifies key crisis types to evaluate. The Government Accountability Office (GAO) must then review the methodology and results of these assessments within one year of the first report. The bill directly affects federal agencies responsible for fiscal planning (Treasury and OMB) but does not create new spending or alter existing programs. It focuses solely on improving preparedness through structured risk analysis.

Maddy summaryThis bill would expand Mammoth Cave National Park by adding approximately 551 acres of land in Edmonson and Barren Counties, Kentucky, to the park's existing boundaries. The legislation modifies existing law to allow the Secretary of the Interior to acquire this specific parcel of land, as shown on a map dated May 2025. The acquisition is subject to a financial threshold adjusted for inflation, referenced in the updated law. This change directly affects the park's management and the landowners whose property would be added to the protected area.

Enhanced Iran Sanctions Act of 2025 This bill imposes sanctions on certain foreign persons (individuals and entities) that are involved in Iran's petroleum sector as well as certain associated persons. The bill also requires or authorizes actions to facilitate the enforcement of sanctions on Iran. Specifically, the bill requires the President to impose visa- and property-blocking sanctions on any foreign person that, after the bill's enactment, knowingly engages in any transaction related to the processing, export, or sale of oil, condensates, gas, liquefied natural gas, or other petrochemical products in whole or in part from Iran. The President must also impose sanctions on certain foreign persons associated with a sanctioned individual or entity. For example, the President must sanction the subsidiaries and corporate officers of a sanctioned business. The bill provides certain exceptions to these sanctions, including specifying that sanctions do not apply to the importation of goods or to conducting or facilitating transactions for humanitarian assistance. The Department of State must establish an interagency working group that shall seek to establish a multilateral contact group to coordinate international efforts to enforce sanctions on Iran. The bill expands the State Department rewards program to authorize a reward payment to any individual who furnishes information leading to the identification of a person (1) subject to sanctions under this bill, or (2) that has attempted or is attempting to evade sanctions under this bill.

Maddy summaryThis bill, known as the No Tax on Drill Pay Act, would exclude certain military compensation from federal income tax. It directly affects members of the U.S. military who receive pay for inactive-duty training, which includes weekend drills and other training activities outside of regular duty. The legislation amends the Internal Revenue Code to add inactive-duty training compensation to the list of qualified military benefits that are not subject to taxation. This change applies to any compensation received after the bill becomes law, meaning it would affect future training pay rather than past earnings.

Maddy summaryThis bill, the "American Lending Fairness Act of 2026," makes changes to federal laws governing interest rates charged by financial institutions, primarily impacting how state-chartered banks and credit unions operate across state lines. It repeals a current federal law (Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980) that has allowed states