Sen. Brian Schatz

Maddy summaryThe Terrorism Risk Insurance Program Reauthorization Act of 2026 extends the federal terrorism insurance program through 2034, ensuring continued government support for insurance companies facing large losses from terrorist attacks. The bill also updates the schedule for recouping federal funds, shifting the timeline for when insurers must repay taxpayer money to later dates ranging from 2029 to 2036. These changes directly affect insurance carriers and policyholders by maintaining the program's availability for a longer period and adjusting the financial obligations tied to it.

Maddy summaryThis bill authorizes the use of Emancipation Hall in the Capitol Visitor Center for a specific event on June 7, 2026, to celebrate the birthday of King Kamehameha I. The resolution directs the Architect of the Capitol to oversee the physical preparations for the event under established conditions. It does not create new laws or funding but simply permits the venue to be used for this commemorative gathering. The measure affects the Capitol Visitor Center staff and any organizers planning the celebration.

Maddy summaryThis resolution expresses the Senate's view that the President should prioritize securing the release of specific individuals detained by the People's Republic of China. It names Pastor Jin Mingri, Pastor Gao Quanfu and his wife Pang Yu, Dr. Gulshan Abbas, and Jimmy Lai, who are reportedly held for reasons related to peaceful expression or religion. The resolution calls for the President to raise these cases during future engagements with Chinese President Xi Jinping, including an anticipated May 2026 summit. It also urges the President to seek verifiable proof of life, access to legal counsel, family communication, and medical care for these detainees.

Maddy summaryThe Ending the Carried Interest Loophole Act changes how the IRS treats partnership interests given to employees for their work, specifically targeting financial managers and investment professionals. Under the new rules, these individuals must pay ordinary income tax on the value of their partnership shares at the time they receive them, rather than waiting until they sell the shares to pay lower capital gains taxes. The law also establishes a 10-year window during which any future profits earned from these shares are taxed as ordinary income instead of capital gains. Additionally, the bill repeals an existing tax provision that previously allowed certain carried interest payments to be classified as capital gains.

Maddy summaryThis Senate resolution (SRES 670) expresses support for the goals of the 2026 Day of Silence, an event designed to highlight anti-LGBTQI+ bullying, harassment, and discrimination faced by individuals in K-12 schools. It focuses on improving the educational environment for all students, particularly LGBTQI+ young people, by drawing attention to issues like unequal educational opportunity and a lack of civil rights protections. The resolution encourages states, cities, and local school districts to adopt laws and policies that explicitly prohibit bullying and discrimination against students, teachers, and other school staff based on their sexual orientation, gender identity, or sex characteristics.

Maddy summaryThe Stop CHEATERS Act directs the Internal Revenue Service to increase its enforcement efforts against high-income individuals and large corporations while also expanding taxpayer support services. To achieve this, the bill appropriates billions of dollars over several years to fund IRS investigations, hire additional staff, purchase vehicles, and modernize outdated technology systems. Additionally, the legislation requires the IRS Commissioner to submit regular reports to Congress detailing plans to shift auditing resources toward wealthy taxpayers and analyzing collection gaps across different income levels.

Maddy summaryThis bill, titled the "Keep Public Funds in Public Schools Act," repeals two sections of the Internal Revenue Code. It eliminates Section 25F, which provides a tax credit for contributions made to scholarship granting organizations. Additionally, the bill repeals Section 139K, which allows certain educational assistance to be excluded from an individual's gross income. These changes primarily affect taxpayers who currently claim these credits or exclusions, and organizations involved in scholarship grants or providing educational assistance. The amendments generally take effect for taxable years ending after December 31, 2026.

Maddy summaryThis concurrent resolution expresses support for International Transgender Day of Visibility, a day established to honor the transgender community and raise awareness about the discrimination and violence they face. It encourages Americans to observe the day with ceremonies and programs while celebrating the accomplishments and leadership of transgender individuals in politics, media, and society. The resolution acknowledges historical contributions of Indigenous Two-Spirit people and notes recent legislative efforts targeting transgender rights in areas like education, healthcare, and public accommodations. This non-binding measure does not create new laws or funding but serves as an official statement of congressional recognition and encouragement.

Maddy summaryThis bill establishes a new annual wealth tax on individuals with net assets exceeding $50 million, effective in 2027, targeting ultra-wealthy taxpayers by taxing the total value of their taxable assets rather than income. The tax uses a tiered structure with a 0% bracket up to $50 million, a 2% rate between $50 million and $1 billion, and a 3% or 6% rate on assets above $1 billion, with the higher rate applying if a universal health insurance program is enacted. It includes special rules for married couples filing jointly, trusts, and non-resident aliens, while also adding stricter information reporting requirements and increased IRS funding for enforcement.

Maddy summaryThe Native American Housing Assistance and Self-Determination Modernization Act of 2026 aims to update and improve federal housing programs for Indian tribes, tribally designated housing entities, and Native Hawaiian communities. The bill streamlines environmental reviews, increases flexibility for these entities in managing housing funds, and raises income limits for certain homeownership assistance. It also establishes new pilot programs to address homelessness among Native Americans