Rep. David Kustoff

This joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements included in the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the IRS on December 30, 2024. Decentralized finance refers to the suite of financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries.

Maddy summaryThe Neighborhood Homes Investment Act creates a new tax credit for developers who build or rehabilitate affordable homes in distressed communities. The credit is calculated as the lesser of (1) the difference between development costs and sale price, (2) 40% of development costs, or (3) 32% of the national median home price. It applies only to homes sold to qualified homeowners with income up to 140% of area median income in designated "qualified census tracts" (areas with high poverty rates, low median home values, and low median family income). Developers must meet quality standards and repay the credit if the home is sold within 5 years of the affordable sale. This credit aims to address the "value gap" that prevents housing development in distressed communities by incentivizing affordable home construction and rehabilitation.

Maddy summaryThis bill directs the federal crop insurance corporation to study whether winter canola (a cold-weather oilseed crop) should be included in insurance policies covering double-cropping and rotational farming systems. It requires research on how adding winter canola would affect insurance availability, cost, and risk management benefits for farmers, including soil health and profitability. The bill also allocates $10 million annually (2024-2029) through the National Institute of Food and Agriculture to study supplemental crops like winter canola. The study results will be reported to Congress within 13 months, but the bill itself does not change current insurance rules or directly affect farmers until after the research is complete.

Maddy summaryThis bill repeals a restriction that previously prevented individuals from rolling over funds directly from their Individual Retirement Accounts (IRAs) to donor-advised funds (DAFs) for charitable giving. It directly affects IRA account holders who wish to make tax-advantaged charitable contributions through DAFs. The key provision amends the Internal Revenue Code to remove the specific language barring such rollovers, allowing these transfers to occur without triggering taxable distributions. The change becomes effective after the bill's enactment, streamlining a pathway for donors to support charities via DAFs using IRA assets.

Maddy summaryThe Small Business Taxpayer Bill of Rights Act of 2025 strengthens protections for small businesses in their interactions with the IRS. Key provisions include expanding eligibility for cost awards to small businesses regardless of net worth (with a $50 million gross receipts threshold), increasing civil damages for IRS misconduct from $1 million to $5 million, and banning ex parte communications between IRS staff. The bill establishes new rights for taxpayers including the right to independent conferences with IRS Appeals, limits lien enforcement against primary residences, and requires consideration of economic hardship when releasing levies. It also creates alternative dispute resolution procedures and repeals the partial payment requirement for offers-in-compromise.

Maddy summaryHR 2724, the "Protecting Our Supreme Court Justices Act of 2025," amends federal law to increase penalties for obstructing justice through picketing or parading near Supreme Court justices. It changes Section 1507 of Title 18 U.S. Code to raise the maximum prison sentence for such obstruction from one year to five years. This bill directly affects individuals who engage in protests or demonstrations that physically block, harass, or impede Supreme Court justices or their property, making the criminal penalty more severe. The key provision is the specific increase in the maximum sentence for these actions.

Maddy summaryThe Affordable Housing Credit Improvement Act of 2025 would reform the Low-Income Housing Credit program, which provides tax credits to developers of affordable housing. It would increase state allocations based on population with annual cost-of-living adjustments, modify tenant eligibility rules to allow higher income limits for some residents, and add protections for domestic violence victims in housing. The bill would simplify rules for rural and Native American housing projects, clarify credit eligibility requirements, and require greater transparency in program administration. These changes would directly affect developers, property owners, and low-income tenants in housing projects that receive LIHC tax credits.

Maddy summaryThe Small Business Tax Fairness and Compliance Simplification Act (HR 2603) extends a tax credit for employer social security taxes on employee tips in beauty service businesses (like salons, barbershops, and spas) if tips exceed 15% of the business's gross receipts from those services. It creates a "safe harbor" for employers: if they educate employees on tip reporting, track monthly tip income (for amounts $20+), and maintain records for four years, the IRS cannot audit them for tip reporting issues. Additionally, landlords renting space to beauty service businesses must report annual rental payments of $600+ per tenant to the IRS, including tenant details and payment history, with a statement provided to each tenant by January 31. These provisions target small beauty service businesses and their landlords to simplify tax compliance and clarify reporting requirements.

Maddy summaryHR 2574, the "No Iranian Energy Act," amends existing sanctions law to explicitly prohibit U.S. sanctions on natural gas transactions involving Iran. It expands the Iran Freedom and Counter-Proliferation Act of 2021 by adding natural gas to the list of energy sectors subject to sanctions under Sections 1244 and 1247 of the law. The bill directly affects foreign entities or governments that engage in the sale, supply, or transfer of natural gas to or from Iran. This change modifies existing legal provisions without creating new sanctions, targeting Iran's gas industry as part of broader sanctions policy.

Maddy summaryThis bill creates a new Medicare payment model (the "Comprehensive Alternative Response for Emergencies Model") that allows Medicare Part B to cover ground ambulance services provided in response to emergency medical calls *without* a full transport. It directly affects Medicare beneficiaries receiving emergency ambulance care and ambulance providers, ensuring they are paid for services like dispatch and initial response that don't include transport. The model requires payment rates to align with standard transport payments, mandates compliance with state protocols, and operates for a 5-year test period. A report by the Comptroller General will evaluate the model's impact on beneficiary access, outcomes, and regional differences after 4 years.