This bill repeals provisions of the Infrastructure Investment and Jobs Act with respect to the definition of broker and reporting requirements for digital assets.
Reinforcing Nicaragua's Adherence to Conditions for Electoral Reform Act of 2021 or the RENACER Act This bill establishes measures to monitor, report on, and address corruption and human rights abuses in Nicaragua. Specifically, the bill directs U.S. leadership at international financial institutions to advocate for increased oversight with respect to any loan or financial or technical assistance for projects in Nicaragua. The Department of State and the Department of the Treasury must establish a coordinated strategy to align diplomatic engagement with the implementation of targeted sanctions to facilitate free, fair, and transparent elections in Nicaragua. Pursuant to this strategy, the President must prioritize implementing targeted sanctions on persons obstructing the establishment of conditions necessary for such elections. The State Department must also engage in diplomatic efforts with partner countries to impose targeted sanctions on such individuals. The bill adds Nicaragua to a list of countries whose citizens are subject to visa-blocking sanctions for knowingly engaging in (1) actions undermining democratic processes or institutions, or (2) significant corruption or obstruction of investigations into such corruption. Further, the bill requires the State Department to report on the involvement of President Daniel Ortega, members of his family, and senior government officials in significant acts of public corruption; Russian activities in Nicaragua, including cooperation between Russian and Nicaraguan military personnel and intelligence services; all purchases and agreements entered into by Nicaragua with respect to its military or intelligence sector; and gross human rights violations by the Ortega government against campesinos (i.e., natives of Latin American rural areas, especially Latin American Indian farmers or farm laborers) and indigenous communities. In addition, the State Department must report on obstacles faced by Nicaraguans to obtaining accurate, objective, and comprehensive news and information about domestic and international affairs and submit a strategy for strengthening independent broadcasting, information distribution, and media platforms in Nicaragua.
Parental Rights Protection Act This bill restricts government entities from requiring that individuals age 18 or younger receive certain COVID-19 vaccines that were authorized through emergency use and related procedures. Specifically, a federal, state, tribal, territorial, or local government entity (including a local educational agency) that receives funding from either the Department of Education or the Department of Health and Human Services may not require such COVID-19 vaccinations for individuals age 18 or younger. In particular, a local educational agency that mandates COVID-19 vaccinations for students loses its eligibility for federal education funding. The bill also requires the prior, informed, written consent of a parent or guardian before administration of such COVID-19 vaccines to an individual age 18 or younger.
Platform Competition and Opportunity Act of 2021 This bill generally prohibits operators of covered platforms from acquiring the stock or other share capital or the assets of another person engaged in commerce or in any activity affecting commerce. Covered platforms are online platforms that (1) have at least 50 million U.S.-based monthly active users or at least 100,000 U.S.-based monthly active business users, (2) are owned or controlled by a person with net annual sales or a market capitalization greater than $600 billion, and (3) are critical trading partners for the sale or provision of any product or service offered on or directly related to the platform. The Federal Trade Commission or the Department of Justice must designate whether an entity is a covered platform, and both must carry out enforcement activities. The bill provides for any person (other than a foreign state and any instrumentality thereof) who is injured by an activity forbidden under the bill to recover triple damages. (A foreign state may only recover actual damages.) Further, the bill specifies the U.S. Court of Appeals for the District of Columbia Circuit as the judicial venue for a covered platform's appeals related to (1) the designation as a covered platform, (2) other administrative and enforcement proceedings, or (3) a final order issued in any district court.
Taiwan Deterrence Act This bill authorizes defense-related assistance for Taiwan and addresses related issues. For FY2023-FY2032, the Department of State may provide foreign military financing grant assistance to Taiwan if (1) Taiwan commits to match such spending on a dollar-for-dollar basis, and (2) the United States and Taiwan agree to conduct joint long-range planning for capability development and on the expenditure of the funds. Furthermore, for the purposes of certain arms export control laws, Taiwan shall receive treatment identical to NATO member countries, Australia, Japan, South Korea, Israel, and New Zealand. (Currently, such countries receive benefits in regards to defense article transfers, such as the waiver of certain requirements and eligibility for assistance and fee waivers.) The State Department must report to Congress on U.S. priorities for building more capable Taiwan security forces and organizations. The State Department and the Department of Defense must jointly report to Congress on an annual basis on Taiwan's enhancement of its self-defense capabilities.
WALL Act of 2021 This bill appropriates $25 billion for the construction of a wall on the U.S.-Mexico border and addresses other issues related to immigration. As offsets to this spending, the bill restricts the child tax credit, earned income credits, and lifetime learning credits to those with Social Security numbers and not prohibited from employment in the United States. Also, individuals who file taxes using an individual taxpayer identification number (ITIN) instead of a Social Security number must pay a fee ($300 for each individual on the tax return who was issued an ITIN). The bill restricts eligibility for certain federally-funded benefits, including unemployment compensation, supplemental nutrition assistance, and housing benefits, to those eligible to work in the United States. Agencies administering such benefits must use the E-Verify program to confirm the eligibility of applicants for such benefits. This bill also sets fines for aliens who improperly enter the United States or overstay their visas.
Muslim Brotherhood Terrorist Designation Act This bill requires the Department of State to submit to Congress a detailed report indicating whether the Muslim Brotherhood meets the criteria to be designated a foreign terrorist organization. If the report determines that the Muslim Brotherhood does not meet such criteria, it must provide a detailed justification as to which criteria have not been met.
Capital Gains Inflation Relief Act of 2021 This bill allows the adjusted basis of certain assets (including any common stock in a C corporation, any digital asset, and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of a taxpayer (other than a corporation) who has held the asset for more than three years. The bill sets forth rules for applying the inflation adjustment to short sales; regulated investment companies; real estate investment trusts; other pass-through entities, including partnerships, S corporations, and common trust funds; dispositions between related persons; and improvements to property or contributions of capital. The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.
Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions Resolution or the ACCEPT Resolution This resolution requires the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives to encourage Capitol gift shops to accept cryptocurrency and to enter into contracts with vendors that accept cryptocurrency to provide food service and vending machines in the Capitol.
Circumspectly Reducing Unintended Consequences Impairing Alliances and Leadership Act of 2021 or the CRUCIAL Act of 2021 This bill establishes requirements relating to the President's ability to impose sanctions on individuals or entities that engage in a significant transaction with the defense or intelligence sectors of Russia's government if the transaction involves a member of the Quadrilateral Security Dialogue. (The dialogue is a coalition comprised of the governments of the United States, Japan, India, and Australia.) Specifically, before imposing such sanctions for a transaction involving a member of the dialogue, the President must certify to Congress that the government in question is not participating in the dialogue on security matters that are critical to U.S. strategic interests.
