Rep. Mike Carey

Maddy summaryThis bill redesignates the existing National Parks and Public Land Legacy Restoration Fund as the America's Legacy Restoration Fund to address deferred maintenance on federal lands. It directs revenue from recreation fees and a portion of energy development income into the fund, which must be used primarily for repairing critical infrastructure like roads, trails, and buildings managed by agencies such as the National Park Service and the Forest Service. The legislation establishes strict rules requiring that most funds go toward non-transportation projects, mandates transparency through public dashboards tracking project status, and sets aside a small percentage for matching private donations. Additionally, the bill increases entrance fees for foreign visitors to ensure they contribute to the fund, while prohibiting the use of these specific funds for land acquisition or employee bonuses.

Maddy summaryThe Historic Preservation and Land Conservation Certainty Act provides a mechanism for partnerships to settle open tax disputes regarding donations of conservation easements by agreeing to limit their tax deductions and paying a calculated settlement amount. This process allows partners to resolve uncertainties about whether their claimed deductions were too large, effectively closing the issue and waiving the right to contest the settlement in court. Additionally, the bill clarifies tax rules for historic preservation by updating the definition of a "contributing building" to include structures identified as significant in National Register nominations, ensuring consistency in how these properties qualify for tax benefits.

Maddy summaryThe Small Business and Consumer Credit Act of 2026 changes how certain financial institutions can use tax losses to offset future profits. It allows these banks to carry forward net operating losses for up to 20 years, with additional rules allowing them to carry losses back to previous years starting in 2028. The law specifically applies to independent banks and certain affiliated groups, requiring them to make an irrevocable election on their tax returns to use these new provisions.

Repealing Big Brother Overreach Act This bill repeals the Corporate Transparency Act. The act requires existing companies and newly created companies to report beneficial ownership information to the Department of the Treasury’s Financial Crimes Enforcement Network for purposes of addressing the financing of terrorism and money laundering.

Maddy summaryHR 5408, the Faster Labor Contracts Act, requires employers to begin negotiating a first contract with a newly certified union within 10 days of written request. If no agreement is reached within 90 days, the parties must seek mediation, and if unresolved after 30 days of mediation, the dispute moves to binding arbitration by a three-member panel. The arbitration decision, based on factors like employer finances, industry standards, and cost of living, becomes binding for two years. This bill directly affects newly certified unions and their employers during initial contract negotiations, aiming to reduce delays that currently average 465 days.

Legislative Branch Agencies Clarification Act This bill revises the procedures for appointing and removing the Librarian of Congress, the Director of the Government Publishing Office (GPO), and the Register of Copyrights. The bill also establishes an Office of Inspector General within the Copyright Office and requires GPO to establish a human management system. Specifically, the bill requires the Librarian of Congress and the Director of GPO to be appointed by a bipartisan congressional commission, based on procedures outlined by the bill and without regard to political affiliation. (Currently, these positions are appointed by the President with the advice and consent of the Senate.) The Librarian of Congress and the Director of GPO may only be removed from office by a majority vote of the majority and minority leaders of the House of Representatives and the Senate. Additionally, the bill requires the Librarian of Congress and the Director of GPO to each appoint a deputy within a set time frame and outlines related procedures. The bill removes the Library of Congress's (LOC's) supervisory authority over the Copyright Office and instead transfers those powers directly to the Register of Copyrights. LOC and other legislative agencies may provide support services to the Copyright Office. The bill requires the Register of Copyrights to be (1) a U.S. citizen with a background and experience in copyright law, and (2) appointed by the President with the advice and consent of the Senate. (Currently, the Register is appointed by the Librarian.) Before the President makes the appointment, the chair and ranking minority member of each specified committee must jointly recommend three individuals whom the President may consider in making the appointment. The bill limits the term of office for the Register to 10 years, but the individual may be reappointed. The bill requires subordinate officers and employees of the Copyright Office to be appointed by the Register. Further, the bill requires the Register (instead of the Librarian) to appoint the three administrative judges of the Copyright Royalty Board. The bill also establishes an Office of Inspector General within the Copyright Office to, among other duties, conduct and supervise audits and investigations (excluding incidents involving violence and personal property) relating to the Copyright Office. The Register must appoint an Inspector General to head this office without regard to political affiliation. The Register may remove or transfer the Inspector General with prior congressional notification. The bill also requires GPO to establish and maintain a human capital management system and outlines the requirements for the system.

Maddy summaryThe Tax Clarity for Mining and Staking Act updates federal tax rules for individuals and entities that earn newly created digital assets, such as cryptocurrency, through mining or staking activities. The bill primarily affects taxpayers who validate digital asset transactions by requiring them to report the fair market value of these newly minted assets as ordinary income at the time they are received, while also allowing an optional election to defer this income recognition and capitalize associated costs. To support these changes, the legislation provides new definitions for terms like 'staking' and 'mining,' clarifies how income from these activities is sourced for international tax purposes, and ensures that investment trusts engaging in staking are still treated as trusts for tax compliance.

Maddy summaryThis bill aims to improve the integrity of the Temporary Assistance for Needy Families (TANF) program by tightening rules on how federal funds are used and reported. It requires states to apply existing federal payment integrity standards to their programs and mandates a report outlining a plan to reduce improper payments within a decade. Additionally, the legislation restricts grants to families with income below twice the poverty line and sets strict deadlines for states to spend their allocated funds, allowing only a limited reserve for future use. The bill also prohibits states from using federal money to replace their own spending and requires official certification that funds will supplement, not supplant, existing state resources. These changes are scheduled to take effect on October 1, 2027.

Maddy summaryThe HOME for Foster Youth Act expands housing assistance eligibility for former foster youth by increasing the time limit to receive support from 90 days to 180 days after leaving care. It also clarifies that funds from Education and Training Vouchers are not counted as income when determining eligibility for rental assistance. Additionally, the bill requires the Department of Housing and Urban Development and the Department of Health and Human Services to coordinate efforts to modernize programs and improve access to housing and supportive services for this population.

Maddy summaryThe Affordable Housing Credit Carryback Act allows developers of low-income housing projects to apply their tax credits to tax years up to five years prior to the current year. This change directly affects developers who may have incurred losses in earlier years and are unable to fully utilize the tax benefits generated by their projects. By amending the Internal Revenue Code, the bill enables these developers to carry back the low-income housing tax credit to offset taxes owed in those past years. This provision aims to improve the immediate financial viability of affordable housing developments without altering the total amount of tax credit available.