Maddy summaryThis bill extends tax deferral for company stock sold to employee stock ownership plans (ESOPs) and fixes a rule that previously caused small businesses to lose government benefits after 49% ownership transferred to an ESOP. It creates a new Treasury Department office to provide education and technical assistance for companies adopting ESOPs, and establishes a Labor Department Advocate for Employee Ownership to coordinate federal efforts and promote employee ownership. These changes directly affect S corporations considering ESOPs, current ESOP-owned businesses, and small businesses seeking to maintain eligibility for government programs. The bill focuses on removing barriers to employee ownership through concrete tax, eligibility, and support mechanisms.
Sponsored bills
Maddy summaryThe Art Market Integrity Act (S 2400) requires art dealers, auction houses, galleries, and other intermediaries who handle art transactions exceeding $10,000 in a single sale or $50,000 annually to report these transactions to the Treasury Department. It defines "work of art" to include original paintings, sculptures, and similar pieces while excluding mass-produced items or functional design. The bill mandates Treasury to update guidance on art transactions involving sanctioned entities within 360 days and issue new rules within 180 days to clarify reporting requirements and exemptions. This directly affects businesses in the art market that meet the transaction thresholds, aiming to improve transparency in high-value art sales.
Maddy summaryS 2362, the Ending Lending to China Act of 2025, directs the U.S. Treasury to instruct American representatives at multilateral development banks (like the World Bank and Asian Development Bank) to oppose all new loans and financial assistance to China. It targets China specifically because the bill states China has "graduated" from needing such aid (exceeding the income threshold for borrowing since 2016). The bill requires the Treasury to submit annual reports to Congress on China’s borrowing status, voting power at these banks, and efforts to encourage other countries to graduate from borrowing eligibility. This legislation changes U.S. voting policy at these institutions but does not alter China’s actual eligibility or stop existing loans.
Maddy summaryThis bill requires IRS supervisors to provide written approval before applying penalties or disallowance periods to taxpayers, mandating that approval occur before any penalty notice is sent. It defines an "initial determination" as a specific written notice detailing the exact penalty amount or disallowance period, excluding general inquiries. The bill also mandates annual IRS reports on all penalties assessed, broken down by IRS unit and process step. It directly affects taxpayers facing penalties for tax credits under Sections 24, 25A, or 32, and requires the IRS to publicly report penalty data starting 24 months after enactment.
Maddy summaryThis resolution designates July 2025 as "National Anti-Counterfeiting and Consumer Education and Awareness Month" to highlight the dangers of counterfeit products. It aims to raise public awareness about how fake goods - such as unsafe electronics, pharmaceuticals, and cosmetics - threaten consumer health, safety, and the economy. The Senate resolution does not create new laws or funding but supports existing efforts to educate consumers about identifying and avoiding counterfeit items in both physical and online markets.
Maddy summaryS 2316, the Cooper Davis and Devin Norring Act, requires electronic communication service providers and remote computing services to report to the Attorney General when they have actual knowledge of certain drug-related crimes involving fentanyl, methamphetamine, counterfeit prescription drugs, or unauthorized prescription medications. Providers must submit detailed reports within 60 days, including account information and relevant data about the crime, but not the content of communications. The bill imposes civil penalties of up to $190,000 for failing to report and $100,000 for submitting false reports, while protecting providers from being required to monitor content or scan for violations. It exempts broadband internet and text messaging service providers from these requirements and mandates annual reports from the Attorney General on the number and outcomes of submitted reports. The law aims to improve law enforcement's ability to address drug trafficking while maintaining privacy protections for users.
Maddy summaryThe Short on Competition Act creates a new process to address prescription drug shortages by allowing temporary imports of certain drugs. It permits the Secretary of Health and Human Services to authorize imports of drugs with the same active ingredient as a shortage drug, provided they are legally marketed in specific foreign countries and manufacturers commit to seeking U.S. approval. The bill also defines a "marginally competitive market" (fewer than five available drugs for two months, the drug approved over 10 years ago, and all patents expired) as triggering the importation process. Additionally, it requires annual reporting on the number of drugs approved for temporary importation.
Maddy summaryThis bill prohibits Medicare from paying for orthotics and prosthetics delivered via "drop shipment" (direct shipping to patients without proper training from a qualified provider) starting after its enactment. It expands the list of healthcare professionals who can order these devices to include physical therapists, occupational therapists, orthotists, and prosthetists. The bill also ensures Medicare beneficiaries can get covered replacements for custom-fitted orthotics and custom-fabricated orthotic devices. These changes aim to improve patient safety and access to appropriate care by requiring in-person training and clarifying coverage rules. The Secretary of Health and Human Services must issue implementing regulations within one year of the bill's enactment.
Halt All Lethal Trafficking of Fentanyl Act or the HALT Fentanyl Act This act permanently places fentanyl-related substances as a class into schedule I of the Controlled Substances Act. A schedule I controlled substance is a drug, substance, or chemical that has a high potential for abuse; has no currently accepted medical value; and is subject to regulatory controls and administrative, civil, and criminal penalties under the Controlled Substances Act. Under the act, offenses involving fentanyl-related substances are triggered by the same quantity thresholds and subject to the same penalties as offenses involving fentanyl analogues (e.g., offenses involving 100 grams or more trigger a 10-year mandatory minimum prison term). Additionally, the act establishes a new, alternative registration process for certain schedule I research. The act also makes several other changes to registration requirements for conducting research with controlled substances, including permitting a single registration for related research sites in certain circumstances, waiving the requirement for a new inspection in certain situations, and allowing a registered researcher to perform certain manufacturing activities with small quantities of a substance without obtaining a manufacturing registration. Finally, the act expresses the sense that Congress agrees with the interpretation of the Controlled Substances Act in United States v. McCray , a 2018 case decided by the U.S. District Court for the Western District of New York. In that case, the court held that butyryl fentanyl, a controlled substance, can be considered an analogue of fentanyl even though, under the Controlled Substances Act, the term controlled substance analogue specifically excludes a controlled substance.
Maddy summaryThis bill reauthorizes federal juvenile justice funding through 2030 with key changes to reduce youth incarceration. It prohibits states from using secure detention for juveniles violating status offenses (like truancy) after 2028, except under strict court orders requiring written findings and a 7-day maximum stay. It also mandates court hearings within 48 hours for juveniles held for violating court orders, limits holding juveniles with adults in jails to 180 days with regular reviews, and requires states to collect data on racial disparities and socioeconomic status. These provisions directly affect all states receiving federal juvenile justice funds and their juvenile justice systems.