Sen. Thom Tillis

Maddy summaryThe TAILOR Act of 2023 requires federal banking regulators (like the FDIC and Federal Reserve) to adjust rules based on each financial institution’s specific risk level and business model, particularly reducing regulatory burdens for smaller community banks. It mandates that regulators document how they tailor rules in rulemaking notices and submit annual reports to Congress on implementation. The bill also directs a review of existing regulations issued over the past seven years to apply these tailoring principles retroactively. A key provision simplifies reporting requirements for community banks eligible under the Community Bank Leverage Ratio framework. This aims to make oversight more practical for smaller institutions while maintaining regulatory oversight.

Maddy summaryThis joint resolution seeks congressional disapproval of a Department of Labor rule published in the Federal Register on December 1, 2022 (87 Fed. Reg. 73822), which addressed "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights." If enacted, it would block the rule from taking effect, directly affecting retirement plan fiduciaries (such as those managing 401(k) plans) who must follow these standards. The resolution uses a specific disapproval process under Chapter 8 of Title 5, U.S. Code, to nullify the rule without altering its content. This is a procedural action targeting the rule's implementation, not a new policy.

Maddy summaryS 293, the Fair Access to Banking Act, prohibits large financial institutions (with $10 billion+ in assets) from denying banking services to lawful businesses based on political reasons, bias, or industry category. It requires these "covered banks" to justify service denials using documented, objective risk assessments - not subjective political judgments - and to provide written explanations for denials. The bill directly affects businesses operating legally in industries often targeted by banks (like cannabis or firearms), ensuring equal access to services like loans, credit cards, or payment processing. Violations allow affected businesses to sue for treble damages and attorney fees, with payment networks and credit unions also barred from blocking access based on "reputational risk."

Maddy summaryThis bill requires the Department of Homeland Security's Inspector General to regularly investigate and report on how people apprehended at the southwest border are processed. Specifically, it mandates reports every 60 days (until monthly apprehensions drop below 35,000 for three months) detailing vetting, releases, parole decisions, asylum applications, removal proceedings, and monitoring of individuals released without detention. The reports must cover specific data points like the number of people released without tracking devices, those given reporting notices, and where released individuals were resettled. The bill directly affects DHS operations and its oversight, focusing on transparency in border processing procedures rather than changing immigration laws.

Maddy summaryThe American Music Fairness Act (S 253) updates U.S. copyright law to require traditional radio stations (terrestrial broadcasts) to pay performance royalties for playing music, aligning them with internet streaming services. It establishes reduced annual royalty fees for small radio stations based on revenue: $10 for stations under $100,000 annual revenue, $100 for public broadcasters between $100,000-$1.5 million, and $500 for non-public stations in the same range. Small stations must certify eligibility annually using revenue data. The bill explicitly states it will not reduce songwriters' existing public performance royalties or affect their rights.

Maddy summaryS 225, the Stop Settlement Slush Funds Act of 2023, prohibits U.S. federal agencies from including settlement agreements that direct payments to third parties (like charities or community groups) unless the payment directly reimburses harm caused by the settling party or covers services related to the case. The bill requires agencies to report annually to Congress on settlements involving such third-party payments and mandates annual audits by agency Inspectors General for violations. It applies to all federal agencies and settlement agreements entered into after the law's enactment, with reporting requirements starting one year post-enactment and ending after seven years. The law does not create new funding for these reporting or audit tasks.

Maddy summaryThis bill would allow individuals with valid concealed carry permits from their home state to carry concealed handguns in other states that either permit concealed carry for residents or don't ban it. It requires permit holders to have a government-issued ID, meet federal firearm possession rules, and carry only handguns (excluding machineguns or destructive devices). Carrying would still follow local restrictions in the destination state, such as bans in schools or government buildings. The bill does not change how states issue permits but creates automatic recognition of valid permits across participating states.

Maddy summaryThis concurrent resolution (SCONRES 3) is a symbolic statement affirming religious freedom as a fundamental human right protected under the U.S. Constitution. It specifically recognizes the 237th anniversary of the Virginia Statute for Religious Freedom (enacted January 16, 1786) and affirms that religious freedom allows all people - of any faith or no faith - to live, work, and worship according to their beliefs. The resolution emphasizes that religious freedom is a unifying principle essential to American democracy, citing historical documents like the First Amendment and presidential proclamations. As a non-binding resolution, it does not create new laws or affect any specific group, but serves to publicly affirm this principle on Religious Freedom Day.

Maddy summaryThis joint resolution (SJRES 6) disapproves of the District of Columbia Council's approval of the Local Resident Voting Rights Amendment Act of 2022 (D.C. Act 24-640). It directly affects D.C. residents by challenging a local law that would have expanded voting rights for non-resident property owners in D.C. elections. The resolution uses a procedural mechanism under federal law to formally reject the D.C. Council's action, requiring Congress to vote on disapproval within a set timeframe.

Maddy summaryThis Senate resolution designates the week of January 22-28, 2023, as "National School Choice Week." It encourages parents to learn about K-12 education options - including public, charter, private, and homeschooling - and promotes public events to raise awareness about educational choice during that week. The resolution does not create new laws or regulations but formally recognizes the annual observance through symbolic congressional support.