Maddy summaryHR 5073, titled the "Promoting Domestic Energy Production Act," is a tax code amendment affecting oil and gas companies. It changes how businesses calculate adjusted financial statement income by removing specific deductions related to intangible drilling and development costs from their financial reports. The bill requires companies to disregard depreciation and depletion expenses taken into account on their financial statements for these costs when computing taxable income. This applies to tax years beginning after December 31, 2022, directly impacting oil and gas producers who use these accounting methods. The bill does not create new energy policies but alters tax accounting rules for the industry.
Rep. Nicholas A. Langworthy
Sponsored bills
Maddy summaryThe ACES Act of 2023 requires ByteDance (TikTok's Chinese parent company) to divest all U.S. assets related to TikTok - including user data collected in the United States - within 90 days of enactment, with possible 30-day extensions. It mandates weekly compliance reports to CFIUS, a final data destruction certification, and prohibits U.S. app stores or internet services from supporting TikTok operations after a 45-day grace period. The bill directly affects ByteDance and TikTok, forcing separation of U.S. operations from Chinese ownership to address national security concerns. CFIUS oversees verification, including facility inspections and audits, to ensure full compliance with the divestment requirements.
Fair Access to Agriculture Disaster Programs Act This bill waives the adjusted gross income limitations for payments or benefits under specific Department of Agriculture (USDA) disaster assistance programs for a person or legal entity that derives a portion of their income from agriculture. (Currently, a person or entity is not eligible to receive certain benefits during a crop, fiscal, or program year if their average gross income exceeds $900,000.) Specifically, in the case of an excepted payment or benefit, the adjusted gross income limitation is waived if 75% or more of the average adjusted gross income for the person or entity is derived from farming, ranching, or silviculture activities. These activities include agritourism, direct-to-consumer marketing of agricultural products, and the sale of agricultural equipment owned by such person or entity. The bill applies to the USDA Livestock Indemnity Program; Livestock Forage Disaster Program; Emergency Assistance for Livestock, Honey Bees, and Farm-Raised Fish Program; Tree Assistance Program; and Noninsured Crop Disaster Assistance Program.
Maddy summaryThis bill adds spotted lanternfly control to the list of high-priority research initiatives funded by the USDA. It enables federal grants for developing and sharing practical tools to combat this invasive insect pest, directly affecting agricultural researchers and farmers in affected areas (like Pennsylvania, where the pest causes significant crop damage). The key provision modifies existing law to specifically include lanternfly research under funding programs, without changing current grant rules. The bill also extends the funding authorization period for such initiatives through 2028.
This resolution condemns Iran for the 1988 massacre of political prisoners. It also urges the Biden Administration and U.S. allies to publicly condemn the massacre and to pressure Iran to provide information to the families of the victims.
Maddy summaryThe COTA Act amends the Workforce Innovation and Opportunity Act to require workforce programs to provide career guidance for high-skill, high-wage, or in-demand jobs - including skilled trades - and to run public awareness campaigns about these programs. It adds two specific requirements: (1) helping students explore career paths in skilled trades and emerging fields, and (2) using social media and other outreach to promote career and technical education. These changes directly affect state and local workforce development programs that receive federal funding under the WIOA. The law mandates concrete policy shifts in how these programs guide job seekers and publicize opportunities, without altering funding or creating new federal mandates.
Maddy summaryThis bill clarifies legal pathways for victims of terrorism to collect judgments against foreign states that sponsor attacks. It removes barriers by updating references in federal law to ensure victims can pursue claims under Section 2333(d)(1) without being blocked by prior legal interpretations. The bill also expands the definition of "national of the United States" to include U.S.-organized entities for these cases, making it easier for more victims to qualify. These changes apply to all pending or future lawsuits filed after the bill's enactment.
Maddy summaryThis bill expands employee ownership in S corporations by extending tax deferral for selling company stock to employee ownership plans (ESOPs), creating a Treasury Department office to provide education and technical assistance for ESOPs, and amending small business rules to maintain eligibility for government programs after ESOP ownership exceeds 49%. It establishes a new Labor Department "Advocate for Employee Ownership" to coordinate federal efforts, educate stakeholders, and recommend policy improvements. The bill directly affects S corporations using ESOPs, their employees who become owners, and small businesses that might lose government program access due to ESOP acquisitions. Key provisions include tax incentive extensions, new support offices, and updated small business classification rules.
Maddy summaryHR 3933, the TAP Promotion Act, requires standardized presentations about Veterans Affairs (VA) benefits during military transition counseling for service members separating from the armed forces. These presentations must be approved by the VA, delivered by authorized veterans service organizations (VSOs), and include information on how VSOs assist with VA claims - without encouraging membership in specific organizations. The bill mandates a one-hour limit per presentation and requires the VA to submit annual reports to Congress detailing which VSOs presented, attendance numbers, and recommendations for improvement. This policy directly affects service members preparing for civilian life and the VSOs providing these transition resources.
Maddy summaryThis bill directs the U.S. Treasury to mint commemorative coins marking the Marine Corps' 250th anniversary in 2025. It authorizes three coin types: $5 gold coins (max 50,000), $1 silver coins (max 400,000), and half-dollar coins (max 750,000), with surcharges of $35, $10, and $5 respectively. The surcharge proceeds will fund the Marine Corps Heritage Center's educational programs, with no net cost to taxpayers as the Treasury must recover all minting costs through the surcharges. The coins can only be issued during 2025, and the Treasury must ensure all costs are covered before distributing funds to the Heritage Foundation.