Building United States Infrastructure and Leveraging Development Act or the BUILD Act This bill increases from $15 billion to $30 billion the national limitation on the amount of tax-exempt highway or surface freight transfer facility bonds. The bill also applies the prevailing wage requirements of the Davis-Bacon Act to projects funded by bond issues.
This concurrent resolution authorizes the use of the rotunda of the Capitol for the lying in state, upon death, of the last surviving Medal of Honor recipient for acts performed during World War II, if the individual or their next of kin so elects.
Removing Incentives for Outsourcing Act This bill modifies the tax treatment of foreign source income of domestic corporations to (1) eliminate a provision that allows companies to deduct a portion of the tangible assets of their controlled foreign corporations (CFCs) before the tax on foreign income applies, and (2) require net CFC tested income to be determined on a country-by-country basis rather than globally. The bill also requires the Joint Committee on Taxation to study options for reforming laws related to the taxation of income from international sources.
Health Force, Resilience Force, and Jobs to Fight COVID-19 Act of 2021 This bill establishes and expands programs to bring on individuals to perform public health functions, such as contact tracing and vaccine administration, to respond to the COVID-19 (i.e., coronavirus disease 2019) emergency and meet future public health needs. The bill provides funding for the Centers for Disease Control and Prevention (CDC) to establish a Health Force. The funds are designated as an emergency requirement, which exempts the funds from discretionary spending limits and other budget enforcement rules. To establish the force, the CDC must award grants within 30 days to state, tribal, territorial, and local governments and community health centers to recruit and train individuals for roles in public health and health care. The Federal Emergency Management Agency (FEMA) must hire and train additional individuals for its Cadre of On-Call Response/Recovery Employees. These employees may be detailed to certain federal agencies or to state, local, or tribal governments to support response efforts related to COVID-19 or other disasters or emergencies.
This bill establishes in the legislative branch the National Commission on the Insurrectionist Attack Upon the United States Capitol. The commission shall (1) conduct an investigation that investigates relevant facts and circumstances relating to the insurrectionist attack on January 6, 2021, that ascertains, evaluates, and reports on the evidence developed by all relevant sources and that builds upon the investigations of other entities; (2) identify, review, and evaluate the lessons learned from the attacks regarding the structure, coordination, management, policies, and procedures of the federal government, and, if appropriate, state and local governments and nongovernmental entities, relative to detecting, preventing, and responding to such attacks; and (3) report to Congress and the President. The investigation may include relevant facts and circumstances relating to intelligence agencies, law enforcement agencies, the flow of assets to insurrectionist and domestic terrorist organizations, the role of congressional oversight and resource allocation, and other areas of the public and private sectors deemed relevant.
This concurrent resolution authorizes the use of the rotunda of the Capitol to honor, upon death, the last surviving Medal of Honor recipient for acts performed during World War II, at the election of the individual or their next of kin.
This resolution expresses support for sustained dialogue between the United States, Russia, and China to reduce the threats posed by nuclear weapons. The resolution calls on the President to extend the New START Treaty for five years and urges the current administration to consider continued participation in the Treaty on Open Skies.
This resolution supports the recognition of January 22 each year as the Day of Tears in the United States and encourages citizens to lower their flags to half-staff to memorialize the unborn.
Abortion Is Not Health Care Act of 2021 This bill prohibits a tax deduction for medical expenses paid for an abortion.
Emergency Pension Plan Relief Act of 2021 This bill modifies the funding rules and provides financial assistance for certain pension plans that are underfunded or insolvent. First, the bill expands the authority of, and provides funding for, the Pension Benefit Guaranty Corporation (PBGC) to provide special partition assistance to a multiemployer pension plan that is insolvent or at risk of insolvency. The bill expands eligibility for partition assistance, provides funding for a plan to reach a projected funded ratio of 80% over a 30-year period, and does not require a plan to repay such assistance. The bill further permits a multiemployer pension plan to elect to retain its funding zone status from the previous year for either (1) the first plan year beginning during the period from March 1, 2020, through February 28, 2021; or (2) the next succeeding plan year, as designated by the plan sponsor. A plan may also extend by five years the funding improvement or rehabilitation period if the plan is designated as in endangered or critical status for a plan year beginning in 2020 or 2021. A plan in critical and declining status may not suspend payment of plan benefits. Additionally, the bill adjusts the minimum funding standards for a multiemployer pension plan to account for investment losses and other losses related to the COVID-19 pandemic and modifies the PBGC guarantee formula to increase the maximum potential benefits under a multiemployer pension plan. Finally, the bill makes changes with respect to single employer pension plans, including revising the amortization rules and extending and modifying the pension funding stabilization percentages.
Access Technology Affordability Act of 2021 This bill allows a refundable tax credit equal to the amounts paid for qualified access technology for use by a blind individual who is the taxpayer, the taxpayer's spouse, or a dependent of the taxpayer. Qualified access technology is hardware, software, or other information technology with the primary function of converting or adapting information that is visually represented into forms or formats useable by blind individuals. The credit is limited to (1) costs that are not compensated by insurance or otherwise, and (2) an aggregate amount of $2,000 per blind individual in any period of three consecutive taxable years. The credit must be adjusted for inflation after 2021 and terminates after 2026.
Emergency Pension Plan Relief Act of 2021 This bill modifies the funding rules and provides financial assistance for certain pension plans that are underfunded or insolvent. First, the bill expands the authority of, and provides funding for, the Pension Benefit Guaranty Corporation (PBGC) to provide special partition assistance to a multiemployer pension plan that is insolvent or at risk of insolvency. The bill expands eligibility for partition assistance, provides funding for a plan to reach a projected funded ratio of 80% over a 30-year period, and does not require a plan to repay such assistance. The bill further permits a multiemployer pension plan to elect to retain its funding zone status from the previous year for either (1) the first plan year beginning during the period from March 1, 2020, through February 28, 2021; or (2) the next succeeding plan year, as designated by the plan sponsor. A plan may also extend by five years the funding improvement or rehabilitation period if the plan is designated as in endangered or critical status for a plan year beginning in 2020 or 2021. A plan in critical and declining status may not suspend payment of plan benefits. Additionally, the bill adjusts the minimum funding standards for a multiemployer pension plan to account for investment losses and other losses related to the COVID-19 (i.e., coronavirus disease 2019) pandemic and modifies the PBGC guarantee formula to increase the maximum potential benefits under a multiemployer pension plan. Finally, the bill makes changes with respect to single employer pension plans, including revising the amortization rules and extending and modifying the pension funding stabilization percentages.
