Sen. Bill Cassidy

Maddy summaryThis bill requires retirement plan managers (fiduciaries) to primarily consider financial factors like risk and return when selecting investments for employee benefit plans, such as 401(k)s. It allows using non-financial factors (like environmental or social concerns) only if financial factors are insufficient to choose between options, and then mandates detailed documentation explaining why financial factors weren't decisive and how the non-financial choice still serves participants' retirement interests. The rule applies to investments made 60 days after the bill becomes law. It directly affects plan managers overseeing retirement savings, not individual investors.

Maddy summaryThis bill repeals a corporate minimum tax provision in the Internal Revenue Code. It directly affects corporations by eliminating their requirement to pay a separate minimum tax (known as the corporate alternative minimum tax) that applied alongside regular corporate income tax. Key provisions amend tax code sections to set the corporate minimum tax amount to zero and remove related adjustments and calculations. The change takes effect for taxable years beginning after December 31, 2022.

Maddy summaryS 1554, the National American Indian Veterans Charter Act, grants a federal charter to the existing nonprofit organization National American Indian Veterans, Incorporated. This charter formally recognizes the group as a federally chartered entity under Title 36 of the U.S. Code, authorizing it to operate as a nonprofit dedicated to serving American Indian veterans. Key provisions include granting the organization exclusive rights to its name and insignia, requiring it to maintain tax-exempt status, and mandating annual reports to Congress on its activities (though these reports are not public documents). The bill directly affects American Indian veterans by legally solidifying the organization’s role as their representative body for advocacy, outreach, and support services.

Maddy summaryThe CREST Act of 2023 establishes federal research, development, and pilot programs to advance carbon removal technologies that capture and store carbon dioxide from the atmosphere or oceans. It creates specific programs for biomass carbon removal (including algal systems), geological carbon mineralization, ocean-based carbon removal, and direct air capture technology manufacturing, with funding totaling millions of dollars annually for these initiatives. The bill also establishes a carbon removal purchasing pilot program where the Department of Energy would buy carbon removal services from eligible companies at set prices, requiring measurement, reporting, and verification of carbon removal activities. The legislation defines key terms related to carbon removal and sets requirements for the technologies and approaches that qualify for federal support.

Maddy summaryThis bill, the "Back the Blue Act of 2023," strengthens federal protections for law enforcement officers by creating new criminal penalties for killing or assaulting them while on duty. It makes it a federal crime to kill or attempt to kill law enforcement officers, federal judges, or federally funded public safety officers (including firefighters and first responders) during official duties, with penalties ranging from 10 years to life in prison or death if the victim dies. The bill also establishes a new federal offense for fleeing interstate to avoid prosecution for killing law enforcement officers and adds a new aggravating factor for death penalty cases involving officers. Additionally, it expands law enforcement officers' rights to carry firearms in certain circumstances and limits federal habeas corpus relief for murder convictions involving law enforcement officers.

Maddy summaryThe SAFE Banking Act of 2023 creates a legal safe harbor for financial institutions that provide services to state-sanctioned marijuana businesses and hemp-related legitimate businesses. It prevents federal banking regulators from taking adverse actions against depository institutions for serving these businesses solely because they operate within state-legal marijuana frameworks. The bill also ensures income from legal marijuana businesses can be considered for qualifying for federally backed mortgage loans and requires updated guidance for suspicious activity reporting related to these businesses. These provisions aim to address longstanding banking access barriers for businesses operating within state-legal marijuana and hemp industries.

Maddy summaryThe Western Hemisphere Security Strategy Act of 2023 requires the U.S. Departments of State and Defense to develop a multi-year strategy for security cooperation in Latin America and the Caribbean within 180 days of enactment. The strategy must address transnational threats like narcotics trafficking (including fentanyl), human trafficking, and cybercrime, while countering harmful influence from China, Russia, and Iran and promoting democratic governance and partner country capacity. The bill also mandates a report on Venezuela detaining U.S. citizens and provides technical assistance to help Western Hemisphere countries screen investments from adversarial nations.

Maddy summaryS 1480, the Equitable Access to School Facilities Act, creates a federal grant program to help states improve charter schools' access to affordable facilities. It authorizes $100 million annually (2024-2028) for competitive grants to states that develop or expand programs providing charter schools with better access to public buildings, funding for facility acquisitions/renovations, and tax-exempt financing options. The bill requires states to prioritize reducing funding gaps between charter schools and traditional public schools, especially for schools in low-income and rural communities, and to ensure equitable treatment in land-use policies. This directly affects charter schools and state education agencies administering the grant programs.

Maddy summaryThis bill modifies U.S. tax rules for distilled spirits, primarily affecting Puerto Rico's rum industry. It repeals a rule limiting certain tax coverage (where taxes collected in Puerto Rico are applied to U.S. Treasury) to only Puerto Rico and the Virgin Islands, making the rule apply more broadly. Crucially, it requires Puerto Rico to transfer a portion of rum tax revenue (1/6 of the difference between $10.50 and the actual tax rate, up to $13.25 per proof gallon) to the Puerto Rico Conservation Trust Fund, which supports natural habitat conservation and sustainable agriculture. The changes apply to rum brought into the U.S. after December 31, 2021.

Maddy summarySRES 106 is a 2023 U.S. Senate resolution condemning China's implementation of the Hong Kong national security law and related actions. It specifically criticizes the law's use to suppress dissent, target figures like pro-democracy advocate Jimmy Lai and Cardinal Zen, and undermine Hong Kong's autonomy under the "one country, two systems" framework. The resolution urges governments to hold China accountable, supports Hong Kong residents' fundamental freedoms, and calls for dropping all national security law charges against detainees. It does not create new laws or impose direct consequences but serves as a symbolic expression of congressional concern about Hong Kong's political rights and rule of law.