Rep. Pete Sessions

Maddy summaryHR 7092, the "Protecting Private Job Creators Act," exempts fixed-income securities from SEC Rule 15c2-11. This rule change specifically applies to securities like bonds, notes, debentures, and asset-backed securities used by businesses to raise capital. The bill codifies the SEC’s 2023 exemption of fixed-income securities sold under Rule 144A from Rule 15c2-11 requirements, which the SEC had previously applied without formal rulemaking. It directly affects businesses relying on fixed-income markets to access capital, ensuring they are not subject to the rule’s quotation disclosure requirements.

Maddy summaryHR 6918 blocks a specific federal regulation that would have restricted funding for pregnancy centers. It prohibits the Health and Human Services Secretary from finalizing, implementing, or enforcing a proposed rule (described in a Federal Register notice) affecting pregnancy center funding. The bill directly affects pregnancy centers - defined as organizations supporting maternal and fetal life and providing services like counseling, pregnancy testing, and material support (e.g., diapers, baby clothes). This is a procedural measure preventing a regulatory change, not creating new programs or altering existing funding.

Maddy summaryHR 7044, the "Woman’s Right To Know Act," requires abortion providers to give patients a specific 24-hour in-person informed consent form before performing an abortion. The form must detail the unborn child’s gestational age, medical risks of the procedure, and developmental milestones (like heartbeat presence), and must be signed by the patient, provider, and a witness. Providers who fail to comply face civil penalties of $100,000-$250,000 per violation or lawsuits from patients seeking damages, including triple the abortion cost. Exceptions apply if compliance poses immediate life-threatening risks to the patient. The bill directly affects abortion providers and patients seeking abortion services, mandating specific disclosure requirements and enforcement mechanisms.

Maddy summaryHR 7014, the Protect Medicaid Act, prohibits federal Medicaid funding for the administrative costs associated with providing health benefits to noncitizens who are not lawfully admitted permanent residents and are ineligible for Medicaid due to immigration status. It directly affects states that currently offer health benefits to such noncitizens, requiring them to cover administrative expenses through state funds instead of federal Medicaid dollars. The bill amends federal law to add a specific prohibition on using federal funds for these administrative costs, while leaving the provision of medical care itself unaffected. Additionally, it mandates an Inspector General report analyzing how states separate administrative costs, ensure compliance, and finance these programs, including impacts on drug pricing. The law focuses solely on administrative funding, not on restricting medical benefits for eligible individuals.

Maddy summaryThe Death Tax Repeal Act would eliminate the federal estate tax and generation-skipping transfer tax for estates of people who die on or after the bill's enactment date, and for generation-skipping transfers made after that date. It would also establish a new $10 million lifetime gift tax exemption (adjusted annually for inflation) and replace the existing gift tax rate schedule with a revised structure. These changes would primarily affect high-net-worth individuals and their heirs, as the estate tax and gift tax typically apply to large estates or gifts exceeding the new exemption threshold. The bill's provisions would take effect on the date of enactment, with transitional rules for the year the bill is signed into law.

Financial Stability Oversight Council Reform Act This bill subjects the budgets of the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) to the annual appropriations process and establishes requirements for reports and a public notice and comment period. The budgets of the FSOC and the OFR are funded by assessments on financial institutions which are deposited into the Financial Research Fund and, under current law, are immediately available to be spent. This bill requires the funding from the Financial Research Fund to be made available by appropriations acts. The OFR must submit quarterly reports to Congress regarding its finances; workforce; and actions taken to achieve the goals, objectives, and performance measures of the office. The OFR must provide a public notice and comment period of at least 90 days before issuing any proposed report, rule, or regulation. The bill expands the duties of the OFR to include publishing an annual work plan; consulting with other federal departments and agencies with relevant expertise prior to preparing any public report with respect to a specified entity, class of entities, or financial product or service; and developing and implementing a cybersecurity plan. The Government Accountability Office must annually audit the cybersecurity plan and its implementation.

Maddy summaryHRES 955 is a resolution commending Taiwan for its democratic election history and supporting Taiwan's democratic institutions. It recognizes Taiwan's transition to democracy since the late 1980s, including 7 presidential and 9 legislative elections held since then, all deemed free and fair. The resolution specifically expresses support for Taiwan's upcoming January 13, 2024, elections and condemns interference by the Chinese Communist Party. It affirms U.S. commitment to a strong partnership with Taiwan across multiple domains and supports Taiwan's self-defense and liberty. As a procedural resolution, it does not create new law but formally expresses congressional support for Taiwan's democratic development.

Maddy summaryHR 1147, the Whole Milk for Healthy Kids Act of 2023, allows schools participating in the National School Lunch Program to offer whole milk as an option during lunch. It amends the school lunch law to explicitly permit schools to serve flavored and unflavored whole milk alongside reduced-fat, low-fat, and fat-free milk choices for students. The bill also requires the Secretary of Agriculture to adjust meal regulations to account for saturated fat from whole milk, ensuring it doesn't count against meal fat limits. This change directly affects participating schools and the students who receive school lunches, expanding their milk beverage options.

Maddy summaryThe ACCESS Act of 2023 amends the Securities Act of 1933 to raise the threshold for requiring a public accountant review of crowdfunding offerings from $100,000 to $250,000. This directly affects small businesses and startups using crowdfunding, as they can now raise up to $250,000 without needing the costly review, reducing administrative burdens. The bill also includes technical corrections to update references in the law to align with the new threshold. The change aims to lower barriers for small business fundraising through crowdfunding.

Maddy summaryThis bill clarifies the Consumer Financial Protection Bureau's (CFPB) authority to enforce rules against "unfair, deceptive, or abusive acts or practices" (UDAAP) affecting consumers. It defines "abusive" acts as those intentionally interfering with consumer understanding or taking unreasonable advantage of consumer vulnerabilities, requiring the CFPB to provide a clear definition within 180 days. Financial institutions must now receive written notice and 180 days to correct potential violations before penalties are imposed, and the CFPB must conduct cost-benefit analyses for new rules. The bill also prohibits the CFPB from treating discrimination as part of UDAAP enforcement and limits penalties for past conduct to the most recent compliance rating period.