Sen. Ron Wyden

Maddy summaryThe Speedy Tariff Refund Act of 2026 requires U.S. Customs and Border Protection to automatically issue interest-bearing refunds for duties collected under the International Emergency Economic Powers Act. This process applies to all importers of affected goods and does not require them to submit requests or additional paperwork to receive their money. The bill also mandates that Customs prioritize these refunds for small businesses and re-process any previously finalized transactions to ensure the correct refund amount is paid. Additionally, the legislation expresses a congressional preference that importers pass these refunds on to their customers, though this is a statement of intent rather than a mandatory requirement.

Maddy summaryThe Drug Deal Disclosure Act requires the Department of Health and Human Services to publicly release specific records regarding agreements between the federal government and major drug manufacturers starting in 2025. This law mandates the disclosure of contracts that include provisions such as reduced drug prices based on international rates, direct-to-consumer sales discounts, duty exemptions, and special treatment for Medicare programs. While the bill allows for the redaction of confidential pricing details, it prohibits withholding information based on political sensitivity or reputational harm and requires a detailed justification for any redactions. Additionally, the act mandates reports to Congress and independent analysis from the Congressional Budget Office and the Government Accountability Office to evaluate the economic and budgetary impacts of these agreements.

Maddy summaryThis bill directs the Financial Crimes Enforcement Network to investigate whether banks and their employees properly reported suspicious financial activity involving Jeffrey Epstein and his associates. The investigation will examine specific failures in screening transactions, delays in filing reports, and decisions by major institutions to withhold information about large cash movements related to Epstein. Within 100 days of enactment, the agency must submit a detailed report to Congress, which can include confidential data from suspicious activity reports. If the investigation identifies individuals who willfully violated anti-money laundering laws, the findings will be referred to the Attorney General for further action.

Maddy summaryThe Modernization of Derivatives Tax Act of 2026 changes how taxpayers report gains and losses from financial derivatives and related investments. It requires individuals and businesses to recognize these gains or losses as ordinary income or loss in the year they occur, rather than waiting until they sell the assets. The bill introduces a new 'investment hedging unit' concept that allows taxpayers to group specific derivatives with their underlying investments, which changes how certain built-in profits and losses are calculated and reported. Additionally, the legislation updates existing tax rules regarding straddles and clarifies how corporations handle derivatives related to their own stock.

Maddy summaryThe Ending the Carried Interest Loophole Act changes how the IRS treats partnership interests given to employees for their work, specifically targeting financial managers and investment professionals. Under the new rules, these individuals must pay ordinary income tax on the value of their partnership shares at the time they receive them, rather than waiting until they sell the shares to pay lower capital gains taxes. The law also establishes a 10-year window during which any future profits earned from these shares are taxed as ordinary income instead of capital gains. Additionally, the bill repeals an existing tax provision that previously allowed certain carried interest payments to be classified as capital gains.

Maddy summaryThe YouthBuild for the Future Act expands the YouthBuild program, which helps young people gain job skills through construction training and education, by directing a larger share of funding to rural areas and tribal communities. It updates program rules to better support participants by allowing grant funds to cover matching financial requirements, providing food assistance, and offering specific support services for individuals with disabilities. The bill also introduces new grants to help program partners form alliances with local employers to create more relevant job training opportunities and requires the government to consult regularly with program operators to set realistic performance goals. Additionally, the legislation increases the total amount of money available for the program over the next six years and establishes a new specific fund to support these employer partnerships.

Maddy summaryThis Senate resolution (SRES 670) expresses support for the goals of the 2026 Day of Silence, an event designed to highlight anti-LGBTQI+ bullying, harassment, and discrimination faced by individuals in K-12 schools. It focuses on improving the educational environment for all students, particularly LGBTQI+ young people, by drawing attention to issues like unequal educational opportunity and a lack of civil rights protections. The resolution encourages states, cities, and local school districts to adopt laws and policies that explicitly prohibit bullying and discrimination against students, teachers, and other school staff based on their sexual orientation, gender identity, or sex characteristics.

Maddy summaryThe Stop CHEATERS Act directs the Internal Revenue Service to increase its enforcement efforts against high-income individuals and large corporations while also expanding taxpayer support services. To achieve this, the bill appropriates billions of dollars over several years to fund IRS investigations, hire additional staff, purchase vehicles, and modernize outdated technology systems. Additionally, the legislation requires the IRS Commissioner to submit regular reports to Congress detailing plans to shift auditing resources toward wealthy taxpayers and analyzing collection gaps across different income levels.

Maddy summaryThis bill, titled the "Keep Public Funds in Public Schools Act," repeals two sections of the Internal Revenue Code. It eliminates Section 25F, which provides a tax credit for contributions made to scholarship granting organizations. Additionally, the bill repeals Section 139K, which allows certain educational assistance to be excluded from an individual's gross income. These changes primarily affect taxpayers who currently claim these credits or exclusions, and organizations involved in scholarship grants or providing educational assistance. The amendments generally take effect for taxable years ending after December 31, 2026.

Maddy summaryThis Senate resolution formally honors Oregon athletes who competed in the 2026 Milano Cortina Winter Olympics and Paralympics. It specifically recognizes six named athletes - Jacqueline Wiles, Hunter Hess, Sean FitzSimons, Alessandro Barbieri, Anna Soens, and Ravi Drugan - for their participation in skiing and snowboarding events. The measure also acknowledges the support provided by the athletes' families, coaches, and staff members. This symbolic gesture serves to celebrate the accomplishments of these Oregonians without altering any laws or policies.