Maddy summaryThe ABLE Tomorrow Act expands and strengthens the ABLE program, which allows people with disabilities to save money in tax-advantaged accounts without risking their eligibility for essential government benefits like Medicaid and Supplemental Security Income. Key changes include removing limits on transferring funds from 529 college savings plans into ABLE accounts and creating exceptions to annual contribution caps for specific lump-sum payments. The bill also permits employers to contribute directly to an employee's ABLE account as part of a retirement plan and requires various federal agencies to inform beneficiaries about these savings opportunities. Additionally, the legislation authorizes $50 million in grants over five years to help states and tribes promote ABLE accounts and increase participation among eligible individuals.
Sponsored bills
American Cures Act This bill permanently funds several federal agencies and programs that perform biomedical research. The bill provides specified funding for the National Institutes of Health, the Centers for Disease Control and Prevention, the Department of Defense health program, and the Department of Veterans Affairs medical and prosthetics research program. The bill exempts the funding from sequestration, which is a process of automatic, usually across-the-board spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals. It also exempts the budgetary effects of the funding from the Statutory Pay-As-You-Go (PAYGO) Act of 2010 and the Senate PAYGO rule.
Maddy summaryThis bill clarifies that individuals are legally permitted to use direct deposit to make contributions to ABLE accounts, which are savings plans designed to help people with disabilities save for qualified expenses. By explicitly stating that no existing law prohibits this method of payment, the legislation removes potential confusion or barriers for donors and financial institutions. The change does not alter the core rules of ABLE programs but simply confirms a practical way for people to fund these accounts.
Maddy summaryThis bill creates a new federal tax credit that matches contributions to ABLE savings accounts, which are designed to help people with disabilities save for qualified expenses. The government will contribute up to 100% of an individual's annual contributions, capped at $2,000, provided the taxpayer's income falls below specific thresholds that phase out the benefit. To receive the match, individuals must file a tax return claiming the credit, and the funds are typically deposited directly into their ABLE account. The legislation also requires state programs to report demographic data about account holders and authorizes $5 million in annual grants to help states promote these savings accounts.
Maddy summaryThis bill introduces a new annual tax on the total value of assets held in certain trusts, requiring owners to file detailed reports of trust holdings and beneficiary interests. The tax is calculated using a progressive rate structure that ranges from 1% to 3%, with specific thresholds that are adjusted for inflation starting in 2027. To offset this new liability, the legislation creates a "trust withholding credit account" that allows beneficiaries to claim credits against future estate and generation-skipping transfer taxes based on the taxes paid by the trust. Additionally, the bill modifies rules for grantor trusts by treating payments made by grantors to cover trust taxes as taxable gifts, while simultaneously denying any tax deductions for those payments.
Maddy summaryThis Senate resolution formally acknowledges the contributions of teachers to the United States and thanks them for their dedication. It encourages students, parents, and public officials to recognize National Teacher Appreciation Week.
Maddy summaryThis resolution honors the life and legacy of Dirk Kempthorne, a former U.S. Senator, Governor of Idaho, and Secretary of the Interior. It formally acknowledges his public service across various roles, including his work on environmental conservation, veterans' support, and economic development in Idaho. The Senate expresses its sorrow over his death and directs that a copy of the resolution be sent to his family. Additionally, the Senate stands in adjournment as a final mark of respect to his memory.
Maddy summaryThis joint resolution directs the President to remove U.S. military forces from hostilities in Iran that lack explicit congressional authorization. The bill relies on the War Powers Resolution, asserting that the 60-day period for these unauthorized operations has expired and that no war declaration or specific statutory approval exists for the conflict. While ordering a troop withdrawal, the measure allows the United States to continue defending against attacks on its personnel, sharing intelligence, assisting allied nations, and evacuating American citizens. It is a legislative action intended to enforce constitutional limits on the use of military force without a formal declaration of war.
Maddy summaryThis Senate resolution formally recognizes May as Asian American, Native Hawaiian, and Pacific Islander Heritage Month to honor the contributions of these communities to United States history. The document highlights the diversity of the population, cites historical milestones such as the completion of the transcontinental railroad and the passage of immigration laws, and acknowledges specific achievements of individuals like Daniel K. Inouye and Patsy Mink. It also notes the ongoing challenges faced by these groups, including a rise in hate crimes, while celebrating their growing presence in government and society. Ultimately, the bill serves as a symbolic statement of appreciation rather than establishing new legal requirements or funding.
Maddy summaryThis Senate resolution commemorates World Press Freedom Day by formally recognizing the growing global dangers journalists face, including attacks in conflict zones and under repressive regimes. The bill highlights the essential role of a free press in supporting democracy and human rights while citing specific instances where American and international reporters have been killed, detained, or injured. It calls on the President and Secretary of State to investigate attacks against journalists, ensure the release of wrongfully detained media workers, and maintain U.S. leadership in protecting press freedom worldwide.