Rep. Mike Carey

Maddy summaryThis bill changes a tax rule for Real Estate Investment Trusts (REITs) that use taxable subsidiaries. It increases the percentage limit for assets held in these subsidiaries from 20% to 25% of a REIT's total assets, directly affecting REIT companies that operate through such subsidiaries. The key provision amends the Internal Revenue Code to restore this higher asset threshold, which had been reduced earlier. The change applies to taxable years starting after December 31, 2025.

Maddy summaryHJRES 35 is a congressional resolution disapproving an Environmental Protection Agency (EPA) rule that established procedures for emissions charges on petroleum and natural gas systems. Specifically, it targets the EPA’s November 2024 rule titled "Waste Emissions Charge for Petroleum and Natural Gas Systems: Procedures for Facilitating Compliance, Including Netting and Exemptions," which would have required companies to pay fees based on emissions. The resolution, passed by both chambers in February 2025, nullifies the rule, preventing it from taking effect. This directly affects oil and gas companies subject to the EPA’s emissions regulations, removing a specific compliance mechanism they would have faced.

Homes for Every Local Protector, Educator, and Responder Act of 2025 or the HELPER Act of 2025 This bill establishes a program administered by the Department of Housing and Urban Development to provide mortgage assistance to law enforcement officers, elementary and secondary school teachers, firefighters, or other first responders. Specifically, these individuals may be eligible for a first-time mortgage on a primary family residence with no down payment. Instead, the mortgage is subject to a one-time, up-front mortgage insurance premium.

National STEM Week Act This bill requires the National Science and Technology Council's Committee on STEM to designate a week each calendar year as National STEM Week. (STEM refers to science, technology, engineering, and mathematics.) During this established week, the committee must encourage educational institutions (i.e., elementary schools, secondary schools, and institutions of higher education) to participate in the week and also encourage families of students attending these educational institutions to participate in STEM activities. Additionally, the committee must encourage STEM industries to (1) engage with students enrolled in educational institutions by providing mentorship programs, site visits, and guest lectures; and (2) support STEM education initiatives at these educational institutions through funding, resources, and expertise. The committee must annually report to Congress on the activities conducted during the established week.

Maddy summaryHR 1156, the Pandemic Unemployment Fraud Enforcement Act, extends the time limit for prosecuting fraud related to pandemic unemployment programs. It adds a 10-year window for criminal or civil actions against individuals who falsely claimed benefits under Pandemic Unemployment Assistance (PUA), Federal Pandemic Unemployment Compensation (FPUC), or Mixed Earner Unemployment Compensation (MEUC). The law applies only to fraud committed during these specific pandemic-era programs and does not revive cases where the original statute of limitations had already expired before this bill passed. This change gives authorities more time to pursue fraud cases without altering the programs' core eligibility rules.

Maddy summaryThe Credit for Caring Act of 2025 creates a federal tax credit for family caregivers of elderly or disabled relatives. It allows eligible caregivers (with over $7,500 in earned income) to claim a credit equal to 30% of qualified caregiving expenses exceeding $2,000, capped at $5,000 per year. Qualified expenses include human assistance, home modifications, respite care, counseling, lost wages for unpaid time off, and transportation, all requiring certification from a licensed healthcare provider that the care recipient has long-term needs. The credit phases out for higher earners (over $75,000 single/$150,000 joint) and requires documentation of expenses and care recipient certification.

Maddy summaryThis bill changes how individual investors in mutual funds (regulated investment companies) are taxed on certain dividends. It allows investors to defer paying tax on capital gain dividends that are automatically reinvested in additional fund shares through a dividend reinvestment plan. The deferred tax is recognized later when the investor sells shares or upon their death. It also establishes that shares acquired through this reinvestment are treated as held for over one year from the start, potentially qualifying for long-term capital gains rates. The rule applies only to individual investors (not estates, trusts, or dependents claimed by others).

Maddy summaryHR 2042 establishes the Space National Guard as a reserve component of the Space Force, specifically for seven states (Alaska, California, Colorado, Florida, Hawaii, New York, and Ohio). It transfers existing Air National Guard space units - like the 213th Space Warning Squadron in Alaska and the 137th Space Warning Squadron in Colorado - to this new structure, while prohibiting additional personnel or new facilities. The bill requires the Secretary of the Air Force to implement the change within one year and provide annual reports to Congress on its status, missions, and funding. This reorganization officially recognizes these state-based units as part of the Space Force reserve without creating new military capabilities or infrastructure.

Maddy summaryHR 1990, the American Innovation and R&D Competitiveness Act of 2025, amends tax rules for businesses to make research and development (R&D) costs more flexible. It allows companies to deduct R&D expenses immediately as business costs (instead of capitalizing them) or to spread these costs over a minimum 60-month period. The bill clarifies which R&D expenses qualify, excludes land improvements and mineral exploration costs, and ensures companies can claim R&D tax credits without conflict with expense treatment. This directly affects businesses that conduct R&D, changing how they account for these costs on tax returns starting for 2022 taxable years.

Maddy summaryThis bill amends Medicare eligibility rules to clarify that beneficiaries needing occupational therapy *or* speech therapy qualify for home health services. It updates two sections of the Social Security Act (Parts A and B) to replace "need occupational therapy or speech therapy" with "need occupational, or speech therapy," ensuring both therapies are explicitly covered. The change directly affects Medicare beneficiaries requiring either therapy for home-based care, removing potential confusion about eligibility. The updated rules will take effect for services provided on or after January 1, 2026.