Sen. Eric Schmitt

Maddy summaryThis bill establishes the "Debt Reduction Fund" to directly reduce the federal debt. It requires depositing 25% of revenue from federal oil and gas lease sales (both onshore and offshore) and activities under Executive Order 14141 (AI infrastructure) into the fund starting 100 days after enactment. The fund's sole purpose is to reduce outstanding public Treasury securities, with the Treasury applying all deposits quarterly toward this goal. The Secretary must report quarterly on redeemed securities and debt reductions. This affects federal debt management, not specific citizens or industries, as it redirects existing revenue streams toward debt reduction.

Maddy summaryThe Student Empowerment Act (S 152) expands the use of 529 education savings accounts to cover more K-12 school expenses for students in public, private, religious, or homeschool settings. It allows funds to pay for tuition, curriculum materials, books, online resources, licensed tutoring (with teacher credentials), standardized tests, dual enrollment fees, and licensed educational therapies for students with disabilities. The bill directly affects families using 529 accounts who educate children in elementary or secondary school, including homeschoolers. It changes existing tax rules to include these specific K-12 expenses under 529 account distributions, effective after the bill's enactment. The policy change aims to provide greater flexibility for families managing educational costs at the K-12 level.

Maddy summaryThis bill would bar certain U.S. visas for individuals affiliated with the Chinese Communist Party (CCP) and their immediate family members, directly affecting students and exchange visitors seeking to study or participate in cultural programs in the U.S. It amends immigration law to deny F-1 student visas and J-1 exchange visitor visas to CCP members (including those who served on the CCP National Congress) and their spouses, children, parents, siblings, or other close relatives. Exceptions include cases required to comply with U.S. obligations under the UN Headquarters Agreement and national security waivers approved by the President. The policy changes would take effect upon the bill’s enactment, restricting visa eligibility for these groups in higher education contexts.

Safeguard American Voter Eligibility Act or the SAVE Act This bill requires individuals to provide documentary proof of U.S. citizenship when registering to vote in federal elections. Specifically, the bill prohibits states from accepting and processing an application to register to vote in a federal election unless the applicant presents documentary proof of U.S. citizenship. The bill specifies what documents are considered acceptable proof of U.S. citizenship, such as identification that complies with the REAL ID Act of 2005 that indicates U.S. citizenship. Further, the bill (1) prohibits states from registering an individual to vote in a federal election unless, at the time the individual applies to register to vote, the individual provides documentary proof of U.S. citizenship; and (2) requires states to establish an alternative process under which an applicant may submit other evidence to demonstrate U.S. citizenship. Each state must take affirmative steps on an ongoing basis to ensure that only U.S. citizens are registered to vote, which shall include establishing a program to identify individuals who are not U.S. citizens using information supplied by certain sources. Additionally, states must remove noncitizens from their official lists of eligible voters. The bill allows for a private right of action against an election official who registers an applicant to vote in a federal election who fails to present documentary proof of U.S. citizenship. The bill establishes criminal penalties for certain offenses, including registering an applicant to vote in a federal election who fails to present documentary proof of U.S. citizenship.

Firearm Industry Non-Discrimination Act or the FIND Act This bill prohibits the federal government from entering into contracts with an entity that discriminates against firearm trade associations or businesses that deal in firearms, ammunition, or related products. Specifically, the bill requires a federal agency to include in each contract for the procurement of goods or services awarded by the agency a clause requiring the prime contractor to certify that it (1) has no policy, practice, guidance, or directive that discriminates against a firearm entity or firearm trade association; and (2) will not adopt a policy, practice, guidance, or directive that discriminates against a firearm entity or firearm trade association during the term of the contract. The bill establishes (1) a similar requirement with respect to subcontracts, and (2) penalties for violations. The bill makes such prohibition inapplicable to a contract for the procurement of goods or services that is a sole-source contract.

Maddy summaryThis bill, the VA Home Loan Awareness Act of 2025, requires lenders using the Uniform Residential Loan Application to add a specific disclaimer below the military service question. The disclaimer states: "If yes, you may qualify for a VA Home Loan. Consult your lender regarding eligibility." It directly affects lenders nationwide who use this standard loan form. The bill mandates this change within six months of enactment and includes a requirement for the GAO to study whether at least 80% of lenders comply within 18 months. The goal is to increase veteran homebuyers' awareness of VA loan programs.

Maddy summaryThis bill repeals Section 136 of the Clean Air Act, which established an incentive program for reducing methane emissions and waste in natural gas and petroleum systems. It directly affects natural gas and petroleum companies that previously participated in this program by eliminating their eligibility for related incentives. The bill also rescinds any unobligated funds allocated under that program before its repeal. This is a direct policy change removing a specific federal incentive mechanism, not a tax change.

Maddy summaryThe FAIR PREP Act of 2025 prohibits the IRS Secretary from preparing individual tax returns or refund claims directly, except through existing programs like the IRS Free File Partnership. It specifically exempts returns prepared via the IRS Free File Program (established in 2002) and qualified return preparation programs defined under existing law. The bill defines "tax return preparation" to exclude basic error corrections, fillable forms with automated calculations, and IRS-provided tools like the direct e-file system. This change applies to returns filed 30 days after the bill’s enactment, with no impact on the IRS’s authority to offer electronic filing options for tax years ending before enactment.

Maddy summaryThis bill (S 100) repeals the Corporate Transparency Act, which required businesses to disclose beneficial ownership information to the government. It directly affects businesses (especially small entities) that previously had to report who ultimately owns or controls them. The bill removes specific reporting requirements from Title 31 of the U.S. Code and eliminates related provisions in the Anti-Money Laundering Act of 2020. Key mechanisms include striking references to reporting sections (like 5336) and repealing sections of the 2021 National Defense Authorization Act that established the rules. This would end the federal mandate for businesses to disclose ownership details to the Financial Crimes Enforcement Network (FinCEN).

Maddy summaryS 94, the "Miracle on Ice Congressional Gold Medal Act," authorizes three congressional gold medals for the 1980 U.S. Olympic Men's Ice Hockey Team members. The bill directs the Secretary of the Treasury to strike the medals, with one medal displayed at each of three locations: the Lake Placid Olympic Center, the U.S. Hockey Hall of Fame Museum in Minnesota, and the U.S. Olympic & Paralympic Museum in Colorado Springs. The legislation also permits the sale of bronze duplicates to cover costs, with proceeds going to the U.S. Mint. This is a commemorative measure recognizing the team's 1980 Olympic victory, not a policy change affecting current legislation or constituents.