Sen. Bill Cassidy

SSI Savings Penalty Elimination Act This bill increases resource limits used to determine eligibility for the Supplemental Security Income (SSI) program. SSI is a federal assistance program that provides monthly cash payments to aged, blind, or disabled individuals with limited income and resources. Specifically, the bill increases the resource limits from $2,000 to $10,000 for individuals and from $3,000 to $20,000 for married couples. The bill annually adjusts the limits for inflation.

This joint resolution nullifies the rule issued by the Department of Health and Human Services on October 7, 2021, that reverts requirements for federally funded providers of family planning services to those in effect before May 3, 2019, and makes other changes to family planning programs. Specific changes in the rule include (1) removing restrictions on pregnancy options counseling and referrals for abortion services, (2) eliminating requirements for physical and financial separation between abortion-related activities and specified family planning activities, and (3) providing a particular focus on health equity.

Maddy summarySRES 588 is a symbolic Senate resolution designating April 2022 as "Financial Literacy Month." It does not create new laws or policies but calls for public awareness about the importance of personal financial education. The resolution urges federal, state, local, school, nonprofit, and business entities to observe the month with activities highlighting financial education's role in helping individuals manage debt, build wealth, and make informed money decisions. It references statistics on financial challenges (like high credit card debt and low high school financial literacy requirements) but does not mandate any specific actions or funding. This is a procedural designation with no direct effect on individuals or new legislative requirements.

Stop Reckless Student Loan Actions Act of 2022 This bill limits executive authority to (1) suspend or defer federal student loan payments or interest accrual on such loans, and (2) cancel federal student loans. Specifically, the bill prohibits the President or the Department of Education (ED) from suspending or deferring federal student loan payments or the accrual of interest on such loans for borrowers with annual household incomes over 400% of the federal poverty line. Further, ED may only suspend or defer federal student loan payments or the accrual of interest for such loans for a total of 90 days after the declaration of a national emergency by the President. ED must submit recommendations to Congress on relief necessary for recipients of student financial-aid assistance. Additionally, the bill prohibits the President or ED from cancelling the outstanding balances or portions of balances on student loans due to the COVID-19 national emergency or any other national emergency. Executive or regulatory action to suspend or defer federal student loan payments or to cancel federal student loans shall be subject to congressional review. The bill also revises the definition of affected individual for purposes of the Higher Education Relief Opportunities for Students (HEROES) Act of 2003 to exclude from relief under the act (1) an individual who resides or is employed in an area that is declared a disaster area in connection with a national emergency; or (2) an individual who suffered direct economic hardship as a direct result of a war, military operation, or national emergency.

Information Needed for Financial Options Risk Mitigation or the INFORM Act This bill requires pension plan sponsors to provide certain information to participants and beneficiaries when the sponsor makes an offer to pay the plan's lifetime annuity as a lump sum. This includes the relative value of the lump sum option compared to the single life annuity and the qualified joint and survivor annuity, as well as the general tax rules for accepting such lump sum.

Maddy summarySRES 593 is a Senate resolution honoring former U.S. Senator Kaneaster Hodges, Jr. of Arkansas, who served from 1977 to 1978. The resolution expresses the Senate’s "profound sorrow" at his death and directs the Secretary of the Senate to transmit an enrolled copy to his family. It also calls for the Senate to adjourn as a mark of respect. This is a ceremonial resolution with no policy provisions or direct impact on legislation or constituents.

Pistol Brace Protection Act This bill removes certain brace-equipped firearms from regulation under certain federal firearms laws. Specifically, under the bill, a pistol that that is equipped with an attachable stabilizing brace (or arm brace) that allows the pistol to be fired with one hand is not a rifle or shotgun subject to regulation (e.g., registration requirements) under the National Firearms Act.

Kleptocrat Liability for Excessive Property Transactions and Ownership Act or the KLEPTO Act This bill expands anti-money laundering reporting requirements for certain transactions involving real estate, aircraft, and other vehicles. Specifically, real estate professionals must report to the Department of the Treasury beneficial owner information (e.g., the identity of an individual behind a corporate entity) for each commercial and residential real estate transaction involving a covered entity (i.e., a nonnatural person, association, or arrangement, including any trust, partnership, foundation, corporation, limited liability company, or other public or private entity). Real estate professionals must also report suspicious transactions, establish anti-money laundering programs and due diligence policies, and develop procedures to identify beneficial owners. Additionally, Treasury must implement a state-level pilot program to design and test a digital ledger of real estate transactions. This ledger must provide real-time information and integrate with other databases that track beneficial ownership, sanctions, and other business and real estate registries. An entity must identify each beneficial owner prior to registering an aircraft. Existing registrants must submit this information not later than 180 days after the date of this bill's enactment. A business engaged in vehicle sales (including automobile, airplane, and boat sales) must report suspicious transactions, establish anti-money laundering programs and due diligence policies, and develop procedures to identify beneficial owners.

This resolution designates April 16 through April 24, 2022, as National Park Week. The resolution also encourages the people of the United States and the world to responsibly visit, experience, recreate in, and support the treasured national parks of the United States.

Brycen Gray and Ben Price COVID-19 Cognitive Research Act This bill directs the National Science Foundation (NSF) to award competitive, merit-reviewed grants to eligible entities, including through the RAPID funding mechanism, to support interdisciplinary research on the disruption of regular cognitive processes associated with both short-term and long-term COVID-19 infections, including with respect to children and adolescents. No later than 45 days after the enactment of this bill, the NSF shall enter into an agreement with the National Academies of Sciences, Engineering, and Medicine to study and produce a report on the disruption of cognitive processes associated with COVID-19 infection.