The Ensuring Better Interest Treatment and Deductibility Act modifies how businesses calculate interest expense limits for tax purposes. It removes a specific exception related to adjusted taxable income calculations that was added in previous legislation. This change applies to tax years starting after December 31, 2025, affecting businesses that deduct interest expenses on their federal income tax returns. The bill aims to alter the rules governing Section 163(j) of the Internal Revenue Code without changing the overall cap on deductible interest.
This bill directs the Joint Committee of Congress on the Library to commission and install a statue of Shirley Chisholm in a permanent public location within the United States Capitol. The legislation requires the committee to secure the statue within two years of enactment and authorizes the Architect of the Capitol to handle related contracts on the committee's behalf. Funding is authorized to cover the costs of obtaining and placing the statue, with appropriated funds remaining available until used. This measure directly affects the Capitol's art collection and honors Shirley Chisholm through physical representation in the legislative building.
This bill, titled the Ensuring Better Interest Treatment and Deductibility Act, would change how businesses calculate the limit on interest expenses they can deduct on their taxes. It directly affects corporations and other businesses that pay interest on loans by modifying the rules for determining adjusted taxable income. The key provision removes a specific clause from the tax code that currently limits how much interest can be deducted based on a company's earnings, effectively allowing more interest to be treated as a deductible business expense. These changes would apply to tax years starting after December 31, 2025, meaning businesses would need to adjust their financial planning for future tax filings.
The STOP Corrupt Bets Act of 2026 prohibits the trading of contracts based on political elections, government actions, sporting events, and military operations on regulated exchanges. This restriction applies to agreements, transactions, or swaps involving these topics unless they are used for legitimate hedging or commercial risk mitigation. The bill directs the Comptroller General to study prediction markets, including issues like insider trading and impacts on young adults, and submit findings to Congress within 60 days of enactment. It also clarifies that the law does not override state gambling regulations.
This bill requires group health plans and health insurers that cover obstetrical services to also cover infertility and iatrogenic infertility treatments, including procedures like in vitro fertilization and egg freezing. It defines infertility as the inability to achieve pregnancy after 12 months of unprotected intercourse or after standard medical treatment, and iatrogenic infertility as fertility damage caused by medical procedures such as chemotherapy or radiation therapy. The legislation establishes coverage standards that cannot be more restrictive than those applied to other medical benefits, prohibits penalties against providers for offering these services, and requires annual compliance reporting to the federal government.
This bill designates tax return preparers as official voter registration agencies, allowing them to distribute voter registration forms to clients. It requires in-person tax preparers to display registration forms visibly in their offices and online preparers to provide a prominent hyperlink to registration forms during their services. The law applies to professional tax preparers who handle at least 100 individual tax returns annually and to certified volunteer tax preparers receiving federal funding. Tax preparers are exempt from certain administrative duties like accepting completed forms or submitting them to election officials, and the Secretary of the Treasury must provide guidance and update volunteer tax site requirements to support these new responsibilities.
This resolution recognizes the importance of fully funding the Department of Homeland Security (DHS). The resolution also (1) cautions that Americans are at greater risk each day DHS is subject to a lapse in appropriations, and (2) expresses gratitude to DHS employees for their commitment to protect the United States.
HRES 971 is a non-binding resolution condemning China's economic and military actions against Japan following Japanese officials' comments about Taiwan. It specifically addresses China's travel advisory (causing $1.2 billion in tourism losses), a ban on Japanese seafood imports, and military drills near Japanese territory. The resolution reaffirms U.S. support for the U.S.-Japan alliance under their mutual security treaty and calls on China to cease coercion. It emphasizes U.S. commitment to upholding a "free and open Indo-Pacific" based on international law. This resolution directly affects Japan's economy and security, with no new legal obligations but serving as a formal U.S. policy statement.
HR 3447, the Chip Security Act, requires manufacturers to equip specific advanced integrated circuits (classified under export control numbers like 3A090) with security mechanisms before exporting them. These mechanisms must verify location and prevent unauthorized access, diversion, or tampering. The law mandates this for covered chips within 180 days of enactment, with a follow-up assessment within one year to develop additional security requirements. It directly affects U.S. chip exporters and importers of these high-tech products, aiming to strengthen export control compliance and national security.
This bill authorizes the transfer of 58 acres of land near Dayton National Cemetery in Ohio to the Department of Veterans Affairs (VA) at no cost to the VA. The land, located across from the existing cemetery and bounded by specific streets and highways, will be used to expand burial space for veterans and their families. The VA must accept the transfer within three years of the Montgomery County Land Bank's offer, and the transfer must be completed without any payment or additional agreements. The bill directly affects veterans seeking burial at the expanded cemetery, with no changes to benefits or funding beyond the land acquisition.
Love Lives On Act of 2025 This bill extends entitlement for various benefit programs and services for surviving spouses of deceased members of the Armed Forces or veterans. The bill provides that the remarriage of a surviving spouse must not bar the furnishing of dependency and indemnity compensation or special pension benefits to such spouse. Additionally, the Department of Defense may not terminate the payment of an annuity for a surviving spouse under the Survivor Benefit Plan solely because the surviving spouse remarries. The bill also expands the definition of a dependent under TRICARE to include a remarried widow or widower whose subsequent marriage has ended due to death, divorce, or annulment.
This resolution formally recognizes the 100th anniversary of the Sporting Arms and Ammunition Manufacturers' Institute (SAAMI), a trade organization founded in 1926. The bill commends SAAMI for developing industry standards that ensure firearms and ammunition are safe, reliable, and interchangeable. It acknowledges the organization's work in coordinating with government bodies, international standards groups, and industry stakeholders to maintain consistent safety practices. This measure is a ceremonial resolution that does not change any laws or regulations but serves to honor SAAMI's century of leadership in the firearms industry.
