Equine Tax Fairness Act This bill modifies the tax treatment of gains and losses from the sale of depreciable property used in a trade or business to eliminate horses from the definition of livestock (thus making the 24-month holding period requirement for livestock inapplicable to horses and allowing horses to be treated as capital assets subject to the existing 1-year holding period requirement for long-term capital gains). The bill also makes permanent the 3-year recovery period for the depreciation of race horses.
Sponsored bills
State, Local, Tribal, and Territorial Fiscal Recovery, Infrastructure, and Disaster Relief Flexibility Act This bill allows states, tribes, territories, and localities to use certain COVID-19 relief funds for new categories of spending, including for natural disasters and infrastructure projects. It also makes changes to expenditure deadlines and other aspects of this funding. Specifically, recipients may use funds for emergency relief from natural disasters and associated negative economic impacts of natural disasters. In addition, recipients may use a portion of their COVID-19 relief funds for designated infrastructure projects, such as nationally significant freight and highway projects. Furthermore, the bill allows recipients to expend COVID-19 relief funds on these types of infrastructure projects until September 30, 2026. Under current law, recipients must expend the funds by December 31, 2024. Other changes in the bill include (1) modifying eligibility and allocation requirements for funding set aside for counties and Indian tribes that are near public lands, (2) allowing Indian tribes an additional year to expend their COVID-19 relief funds, and (3) establishing a process for government entities to decline COVID-19 relief funds and requiring any declined funds to be used to reduce the federal deficit.
Simon Crosier Act This bill requires hospitals and other health care providers, as a condition of Medicare and Medicaid participation, to have certain written policies and procedures in place that limit the implementation of do-not-resuscitate (DNR) orders for unemancipated minors in accordance with specified criteria. Among other provisions, such policies and procedures must (1) require the informed consent of at least one parent and a reasonable attempt to contact the other parent before instituting a DNR order, (2) allow either parent to refuse to consent to a DNR order, and (3) allow a parent to transfer a minor to another facility after being informed of an intent to institute a DNR order.
This resolution recognizes the ultimate sacrifice of the unknown soldiers interred at Arlington National Cemetery and expresses gratitude and appreciation of all the members of the Armed Forces who have served during wars and peacetime. Additionally, the resolution commends all members of the 3d Infantry Regiment, specifically those who guard the Tomb of the Unknown Solider.
Lower Costs, More Cures Act of 2021 This bill establishes and modifies several programs and requirements to address prescription drug prices. The bill modifies provisions under Medicare and Medicaid relating to prescription drug coverage and price transparency. Among other changes, the bill requires the Centers for Medicare & Medicaid Services to publish certain information, as reported by pharmacy benefit managers (PBMs), relating to generic dispensing rates, drug discounts and rebates, and payments between PBMs, health plans, and pharmacies; caps annual out-of-pocket spending under the Medicare prescription drug benefit; allows prescription drug plan sponsors under the Medicare prescription drug benefit to offer additional plans in a region; requires pass-through pricing models, and prohibits spread-pricing, for payment arrangements with PBMs under Medicaid; and allows states to include in the Medicaid Drug Rebate Program covered outpatient drugs that are provided as part of physician or outpatient hospital services. The bill also generally modifies other provisions relating to the regulation and costs of generic and brand-name drugs. Among other changes, the bill prohibits the manufacturer of a brand-name, generic, or biosimilar drug from entering into certain agreements to resolve or settle a patent infringement claim in connection with the sale of a drug or biological product; permanently allows high deductible health plans to waive deductibles for insulin and associated products; and establishes the position of Chief Pharmaceutical Negotiator in the Office of the U.S. Trade Representative.
Maximum Pressure Act This bill expands sanctions and economic penalties on Iran. It also restricts the President from unilaterally lifting or waiving the sanctions or penalties and increases congressional oversight of them. Specifically, the bill requires the President to impose visa- and asset-blocking sanctions. Additionally, it modifies existing sanctions, including by (1) providing statutory authority for executive orders imposing sanctions; (2) applying sanctions to additional sectors of Iran's economy; and (3) broadening sanctionable conduct to cover, for example, assisting Iran with the acquisition of ballistic missiles and the complicity of Iranian officials in human rights violations in specified countries. The bill also requires reporting on licenses that authorize activities subject to sanctions. The bill prohibits U.S. representatives at the International Monetary Fund from voting to allow Iran's access to special drawing rights (a currency support tool) and places restrictions on financial transactions with Iran. The restrictions include requiring domestic financial institutions to implement special measures with respect to foreign financial institutions that conduct significant transactions connected to the Instrument in Support of Trade Exchanges (a European mechanism that bypasses U.S. sanctions when carrying out trade with Iran). The Department of State must maintain the Islamic Revolutionary Guard Corps' designation as a terrorist organization and must designate Ansharallah (or Houthis), which operates in Syria, as a foreign terrorist organization. The bill also requires reports on U.S. sanctions concerning Iran, the status of Iran's nuclear weapons program, and other matters.
Camp Lejeune Justice Act of 2021 This bill allows certain individuals to sue and recover damages for harm from exposure to contaminated water at Camp Lejeune in North Carolina between August 1, 1953, and December 31, 1987. This action is available only to individuals who were exposed to contaminated water for at least 30 days. The bill prohibits the U.S. government from asserting specified immunity from litigation in response to such a lawsuit. The bill also prohibits an individual who brings such an action from bringing a separate tort action against the United States based on the same harm.
COVID-19 Border Protection (CBP) Act This bill requires the Department of Homeland Security (DHS) to devise and implement a strategy to ensure that no alien with COVID-19 (i.e., coronavirus disease 2019) in DHS or Department of Health and Human Services custody may be released into the community during a public health emergency related to COVID-19. Funds previously provided to the Department of State for supporting international efforts to help migrants and refugees respond to COVID-19 shall be transferred to DHS to implement this strategy.
Access to Small Business Investor Capital Act This bill allows a registered investment company to exclude from the calculation of acquired fund fees and expenses those incurred indirectly from investment in a business development company. Instead, such fees and expenses may be disclosed in a footnote. Acquired fund fees and expenses is a required line item on a fund's fee schedule that provides the operating expenses of the fund.
Prohibiting IRS Financial Surveillance Act This bill prohibits the Department of the Treasury from requiring a financial institution to report the transfers into and out of a financial account. This prohibition does not apply to laws or regulations in effect on October 1, 2021.