Sen. Bill Hagerty

Maddy summaryThis bill prohibits the Federal Reserve System from developing, testing, or issuing any central bank digital currency (CBDC) or similar digital assets. It bans the Federal Reserve from offering direct products/services to individuals, maintaining personal accounts, or issuing CBDCs either directly or through financial intermediaries. The bill also explicitly prevents the Federal Reserve Board and Federal Open Market Committee from using digital assets for monetary policy. It includes an exception for physical U.S. currency, preserving its privacy protections, and states Congress believes the Fed lacks authority to issue CBDCs without constitutional amendment.

Maddy summaryThe GENIUS Act of 2025 establishes a regulatory framework for payment stablecoins in the United States, requiring that only permitted issuers (including bank subsidiaries and Federal-qualified nonbank entities) can issue them. These issuers must maintain reserves at a 1:1 ratio with specific assets like U.S. Treasury bills, cash, or deposits, undergo monthly audits, and publicly disclose reserve composition. The bill prohibits misleading claims that stablecoins are government-backed or insured, and requires compliance with anti-money laundering and sanctions laws. It also creates a path for state-level regulation of smaller issuers while ensuring consistent national standards.

Financial Integrity and Regulation Management Act or the FIRM Act This bill prohibits the consideration of reputational risk by federal banking agencies when regulating, examining, or supervising a depository institution or credit union. The bill defines reputational risk as the potential for negative publicity or public attention to decrease confidence in the institution, lead to litigation, reduce revenues, or result in other adverse impacts to the institution.  Agencies must report on the implementation of this bill.

Maddy summaryS 1079, the Restoring Law and Order Act of 2025, creates a federal grant program to provide state and local law enforcement agencies (including tribal entities) with funding to address specific crime priorities. The grants fund hiring officers, targeting vehicle thefts and carjackings, prosecuting violent crime (including repeat offenders), using bail/pretrial detention for dangerous offenders, combating drug/fentanyl crimes, processing evidence faster, and deporting criminal aliens. The $500 million appropriation for fiscal year 2026 (with funds available until 2030) comes from rescinded unobligated balances previously allocated for diversity initiatives. Agencies receiving grants must maintain audit records and allow oversight of fund usage by the Attorney General.

Maddy summaryThe FIGHT China Act of 2025 restricts U.S. investments in Chinese companies with ties to China's military or surveillance sectors. It prohibits U.S. persons from engaging in transactions involving "prohibited technologies" such as advanced semiconductors (with specific technical specifications), AI systems, quantum computing, and hypersonic weapons, while requiring notification for certain "notifiable technology" investments. The bill mandates that U.S. investors divest from companies on the Non-SDN Chinese Military-Industrial Complex Companies List within one year of enactment. It establishes a process for identifying Chinese entities subject to these restrictions, with annual reports to Congress required for seven years.

Maddy summaryThe FOCA Act (S 1064) requires federal agencies to ensure open competition on construction projects by prohibiting them from mandating or banning contractors from entering into labor agreements (like union contracts) or discriminating against contractors based on such agreements. It directly affects federal contractors, subcontractors, and agencies awarding construction contracts or grants for projects involving federal funds. Key provisions ban specific bid specifications or project documents from requiring labor affiliations, apply to all contracts after enactment, and mandate updates to federal procurement rules within 60 days. The bill aims to reduce taxpayer costs, expand opportunities for small businesses, and maintain federal neutrality in labor relations for construction projects.

This joint resolution nullifies the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the Internal Revenue Service (IRS) on December 30, 2024. The rule generally requires persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the IRS.

Maddy summaryThis bill prohibits U.S. energy, mining, and manufacturing companies deemed "integral to national interests" from complying with foreign environmental or social regulations (like the EU's Corporate Sustainability Due Diligence Directive). It specifically targets entities generating at least 25% of revenue from extractive activities (mining, fossil fuels) or manufacturing, blocking their adherence to foreign rules requiring impact assessments or reporting. Companies facing hardship can petition the President for exemptions within 30 days, considering economic impacts and national security. The law also prevents U.S. courts from enforcing foreign judgments against companies for non-compliance and allows civil lawsuits for adverse actions taken due to such regulations.

Maddy summaryThis joint resolution seeks to block a rule issued by the Consumer Financial Protection Bureau (CFPB) that would have prohibited creditors and credit reporting agencies from using medical debt in credit reports. The CFPB rule, published in January 2025, aimed to prevent medical information from affecting consumers' credit scores. If approved, this resolution would nullify the rule, meaning creditors and credit bureaus could continue using medical debt in credit decisions. The measure directly affects credit reporting practices and consumer credit evaluations.

Maddy summaryThis bill increases federal funding for projects improving safety for pedestrians and cyclists. It allows states and localities using federal highway funds to fully cover (100%) the costs of specific projects, such as connecting existing bike/pedestrian paths or reducing risks to vulnerable road users, if they use "Proven Safety Countermeasures" for cyclists/pedestrians as defined by the Federal Highway Administration. Projects must align with state safety plans or local safety plans like Complete Streets or Vision Zero plans. The bill directly affects states and local governments managing transportation infrastructure funded through federal highway programs.