The CHILE Act of 2026 creates a new federal program to provide direct financial assistance to specialty crop producers facing adverse events like economic crises or market disruptions. Under this framework, the Secretary of Agriculture would calculate payments based on a producer's recent sales history and a specific payment factor designed to address crop losses. The bill sets a total funding limit of $5 billion for fiscal year 2027, which remains available until spent, and includes special rules to account for the higher input costs and diverse business structures common in specialty farming. Additionally, the legislation establishes a minimum payment threshold of $900,000 for large-scale farming operations that derive at least 75 percent of their income from agriculture.
The Daycare Not Detentions Act of 2026 provides additional funding to the Department of Health and Human Services to support child care programs, including the Child Care and Development Block Grant, Head Start, and preschool development grants. These funds are intended to help states and organizations cover necessary expenses for these programs through fiscal year 2029. The bill also rescinds $70 billion in previously allocated money for U.S. Customs and Border Protection and U.S. Immigration and Customs Enforcement that has not yet been spent. Overall, the legislation redirects federal resources toward early childhood education and care rather than immigration enforcement activities.
The SECURE Tax Filing Act requires the Treasury Department to validate electronic filing identification numbers before they are used to submit tax returns. This validation system will confirm that an ID is active and that the person using it is authorized to file on behalf of taxpayers. The law mandates that tax preparation software must check this status in real-time before allowing any electronic filing to occur. Additionally, the Treasury must create an implementation plan within 180 days and submit regular reports on the system's performance and security. These changes directly affect tax professionals, software developers, and taxpayers who rely on electronic filing services.
This bill establishes a federal grant program to help states create or maintain dedicated offices focused on women's health. The funding, totaling $55 million annually from 2027 to 2031, is split evenly between all states and a formula based on factors like maternal mortality and poverty rates. Recipients must use the money for public education, data collection, and addressing social issues like housing and food insecurity, while also forming community advisory panels. The legislation includes strict rules prohibiting the use of funds to discourage reproductive health services and mandates strong privacy protections for any data collected.
The Preventing Tax Fraud and Identity Theft Act changes the deadline for filing specific financial information returns from March 31 to January 31. This new rule applies to electronic filings related to gambling winnings, certain bank account reports, and IRA distributions, as well as other specific financial forms. The changes are designed to help the government detect tax fraud and identity theft more quickly by receiving data earlier in the year. These provisions will only take effect for tax years after December 31, 2027.
The S Corporation Modernization Act of 2026 introduces several changes to U.S. tax law to update rules for S corporations. It allows shareholders who inherit S corporation stock to deduct built-in gains over 15 years, while also adjusting how gains are treated if specific assets are sold. The bill expands the maximum number of allowed shareholders from 100 to 250 and permits individual retirement accounts to own S corporation stock. Additionally, it raises the passive investment income limit from 25 percent to 60 percent and creates a new withholding tax system for nonresident alien shareholders. The legislation also repeals the tax on nonqualified deferred compensation plans and allows employees of a firm to be counted as a single shareholder for eligibility purposes.
The Super Pay-As-You-Go Act of 2026 strengthens existing budget rules by requiring that any new government spending or tax cuts be offset by savings equal to twice the cost of those changes. This stricter standard aims to ensure that legislation directly reduces the federal deficit rather than merely maintaining the current level of debt accumulation. The bill also tightens the process for designating emergency spending, mandating a two-thirds congressional vote to waive these stricter budget rules and requiring specific justifications for such designations. Additionally, it mandates that the Office of Management and Budget publish detailed reports on how new laws affect the federal deficit and that Congress cannot bundle these budgetary restrictions with other unrelated legislation.
The SCREEN Act creates a new tax credit to help owners of movie theaters in the United States pay for renovations and upgrades to their facilities. This credit covers 30% of the costs spent on eligible equipment and property used to show films, provided the theater has been in operation for at least five years. The amount of the credit is limited based on the number of screens a theater has, ranging from $250,000 for small theaters with fewer than four screens up to $500,000 for larger venues with ten or more screens. Businesses can use this credit to lower their overall tax bill, and the provision is available for expenses incurred after the law is passed until the end of 2030.
The PROMISE Act of 2026 establishes a mandatory process for Congress to address Social Security solvency by requiring the Social Security Advisory Board to develop and submit specific legislative recommendations by September 2026. This legislation mandates that Congress convene and consider a Social Security bill by November 2026, with strict rules limiting debate to 100 hours and prohibiting amendments that would not achieve long-term solvency or alter the program's funding. To pass the bill, the Senate requires a three-fifths majority vote while the House requires a simple majority, and the process restricts the inclusion of unrelated provisions to ensure the focus remains on the financial stability of the Social Security Trust Funds.
This bill proposes to remove the fees charged for setting up installment payment plans with the IRS for taxpayers with low incomes. Specifically, it would exempt individuals whose adjusted gross income is at or below 250 percent of the federal poverty level from paying these administrative costs. The change would only apply to new payment agreements entered into after a 12-month waiting period following the law's enactment. By eliminating these fees, the legislation aims to make debt relief options more accessible to financially struggling Americans without altering the underlying tax obligations.
