Sen. Ted Budd

Maddy summaryThe Regulation A+ Improvement Act of 2024 raises the funding cap for small businesses using Regulation A+ offerings from $50 million to $150 million, adjusted for inflation every two years using the Consumer Price Index. This change directly affects small businesses and startups seeking to raise capital through public securities offerings under Regulation A+. The key mechanism establishes an automatic inflation adjustment to maintain the $150 million threshold's real value over time, rather than requiring annual legislative action. The bill modifies existing provisions in the Securities Act of 1933 to facilitate greater access to capital markets for qualifying issuers.

Maddy summaryThis bill amends the Natural Gas Act to give the Federal Energy Regulatory Commission (FERC) exclusive authority to approve or deny applications for LNG terminal construction, expansion, or operation for exporting or importing natural gas. It requires FERC to deem LNG exports consistent with the public interest when making decisions, streamlining the approval process for energy companies seeking to build or expand export facilities. The bill clarifies that this change does not affect other federal agencies' responsibilities regarding LNG facilities or existing laws governing imports/exports. It directly affects LNG terminal developers, energy exporters, and the federal regulatory process for natural gas trade.

Maddy summaryThe Protecting Life and Integrity in Research Act of 2024 prohibits federal agencies from funding or supporting research using human fetal tissue obtained from induced abortions. It permits federal research on tissue from miscarriages (before 20 weeks) or stillbirths (20 weeks or more), requiring compliance with existing Public Health Service Act regulations. The bill also bans soliciting or knowingly acquiring tissue obtained from induced abortions. These changes amend the Public Health Service Act to restrict federal research to tissue from natural pregnancy losses, not intentional procedures.

Maddy summaryS 3682, the GHOST Act, requires the Pension Benefit Guaranty Corporation (PBGC) to recover overpayments of special financial assistance made to multiemployer pension plans for deceased participants or beneficiaries. It mandates PBGC to audit participant lists against Social Security’s Death Master File within six months, provide plans a 60-day hearing to dispute claims, and demand repayment within 30 days of a determination. Any recovered funds must be transferred to the U.S. Treasury. The bill directly affects multiemployer pension plans that received PBGC assistance, ensuring taxpayer money is not paid for deceased individuals.

Maddy summaryThis bill requires the U.S. Census Bureau to add a citizenship status question to the 2030 and future decennial censuses, asking households to identify each member as a U.S. citizen, U.S. national (not citizen), lawfully residing alien, or unlawfully residing alien. It mandates that the Census Bureau publicly release state-level population data broken down by these four categories after each census. The bill also changes apportionment rules to exclude noncitizens from the population count used to determine the number of House seats and electoral votes each state receives, starting with the 2030 census. This directly affects how congressional representation and electoral votes are allocated among states based on population data.

Maddy summaryThe Insurance Data Protection Act (S 3349) requires federal financial regulators to coordinate with state insurance regulators before collecting data from insurance companies, ensuring they first check if the data is already available from existing sources to avoid duplication. It protects the confidentiality of data shared with federal regulators, preventing waivers of existing privacy protections or legal privileges under federal or state law. The bill applies to insurance companies and federal financial regulators (such as the Federal Reserve and Commodity Futures Trading Commission), mandating that any data-sharing agreements with state regulators maintain confidentiality. Key provisions include a "coordination step" to reduce redundant data requests and strict rules preserving privacy obligations for all data handled under this law.

Maddy summaryThis Senate resolution (SRES 531) formally designates January 21-27, 2024, as "National School Choice Week." It recognizes existing annual events celebrating parental choice in K-12 education options, including public schools, charters, private schools, and homeschooling. The resolution encourages parents to learn about educational choices and urges the public to participate in awareness events during this week. It does not create new laws, funding, or regulations - it is a symbolic recognition of an established observance.

Maddy summaryThis bill amends the Energy Policy and Conservation Act to add restrictions on drawing down petroleum from the Strategic Petroleum Reserve. It prevents the Secretary of the Interior from selling reserve oil if land has been withdrawn from oil/gas leasing by the President, Interior Secretary, or Agriculture Secretary, requiring the Interior Inspector General to make a determination within 30 days and publish it in the Federal Register. The restriction does not apply during severe energy emergencies caused by sabotage, war, terrorism, or natural disasters. The bill does not directly lower gas prices but limits when the government can sell oil from the reserve under specific land withdrawal circumstances.

Maddy summaryS.1108, the Death Tax Repeal Act of 2023, repeals the federal estate tax and generation-skipping transfer tax for estates of people who die after the bill's enactment. It also modifies the gift tax by establishing a $10 million lifetime exemption (adjusted for inflation) and creating a new tax rate schedule for gifts. This bill directly affects high-net-worth individuals who would have paid estate or gift taxes on large transfers of wealth. The changes take effect after the bill's passage, with the exemption adjusted annually for inflation.

Maddy summarySRES 523 is a Senate resolution honoring the late Senator Herb Kohl of Wisconsin. The resolution expresses the Senate's sorrow at his death, directs the Secretary of the Senate to communicate it to the House of Representatives and send a copy to his family, and instructs the Senate to adjourn as a mark of respect. This procedural resolution does not create new laws or affect policy, but formally commemorates Kohl's service and legacy. It was introduced by a bipartisan group of Senators and passed unanimously on January 11, 2024.