The Disclosure of Tax Havens and Offshoring Act requires large multinational companies to publicly report their financial performance in every country where they operate. Specifically, it mandates that these firms submit detailed reports to the Securities and Exchange Commission showing revenues, profits, taxes paid, and employee counts for each jurisdiction. The law also requires this data to be provided in a machine-readable format and made available online for public access. Companies must follow specific rules for defining which entities and locations are included in these reports, with the Commission expected to issue final regulations within a year of the bill's enactment.
The Disaster Relief Fairness Act of 2026 would automatically approve major disaster declarations requested by state or tribal leaders between January 20, 2025, and January 20, 2029, provided the damage meets specific federal thresholds. Under this bill, the President must provide the requested assistance if the incident meets certain cost or per capita damage indicators, or if a regional Federal Emergency Management Agency official determines individual aid is warranted. Additionally, the legislation prevents the President from denying disaster aid solely because a state or tribe missed a submission deadline. This law directly affects state governors, tribal chiefs, and the federal government by streamlining the approval process for disaster relief during the specified five-year period.
The Curtailing Executive Overcompensation (CEO) Act imposes a new excise tax on large companies where the highest-paid CEO earns significantly more than the median worker. This tax applies to employers with over $100 million in annual revenue and over $10 million in wages, charging a fee equal to the lesser of 1% of the pay gap or 1% of the company's gross receipts. The law defines the pay gap as the difference between the CEO's average compensation and 50 times the median wage of all employees earning at least $5,000, with thresholds adjusted for inflation after 2027. Companies found to be manipulating their workforce to avoid the tax could face joint liability, and the IRS will issue regulations to prevent such avoidance.
This bill establishes a new independent council within the executive branch called the United States Interagency Council on Housing Affordability and Preservation to coordinate federal efforts on affordable housing. The council will be composed of heads from twenty-one different federal agencies, including HUD, the Department of Justice, and the Department of Labor, who will meet at least four times a year to develop a national strategic plan and review housing programs. Its main duties involve creating a unified strategy to increase affordable housing supply, providing technical assistance to states and local governments, and reporting annually to the President and Congress on housing needs and federal actions. The legislation also encourages states to form their own interagency councils and authorizes $4.8 million per year through 2031 to fund the council's operations.
The Work Without Worry Act of 2026 changes how the Social Security Administration evaluates disability for children who receive benefits based on a parent's work record. It allows these children to be considered disabled even if their condition started before age 22 but continued after that age, removing the requirement that they remain disabled continuously until they apply for benefits. Additionally, the bill treats a child's application for benefits as a simultaneous request for their own disability or retirement benefits if they meet specific age and insurance criteria, though they will only receive the higher payment amount. These changes apply to applications filed at least two years after the law is enacted.
The Water Resources Development Act of 2026 authorizes the Army Corps of Engineers to conduct numerous feasibility studies and modify existing projects focused on flood risk management, coastal storm protection, navigation improvements, and ecosystem restoration across the United States. It establishes new grant programs and funding authorizations for the Environmental Protection Agency to support drinking water and wastewater infrastructure, including specific provisions for small and disadvantaged communities, lead reduction, and cybersecurity resilience. The legislation also directs the EPA to create initiatives for water sector cybersecurity, combats plastic waste, and updates regulations regarding nonpotable aquifer use for industrial wells.
This bill requires Medicare Advantage plans to implement electronic pre-approval systems for medical services by 2028 and meet transparency reporting standards starting in 2027. Plans must publicly report data on approval/denial rates, appeal outcomes, response times, and technology use for pre-approval requests, including details on how denials relate to clinical criteria. It establishes a 24-hour response timeframe for certain requests and mandates annual reviews of pre-approval requirements based on data and input from seniors and providers. The law directly affects Medicare Advantage plans, seniors enrolled in these plans, and healthcare providers who submit pre-approval requests. These changes aim to make the pre-approval process faster, more transparent, and more accountable for seniors seeking covered medical services.
The Medical Bankruptcy Fairness Act of 2026 amends federal bankruptcy laws to create a new category called "medically distressed debtor" for individuals whose debt is primarily caused by medical issues, such as illness, injury, or a loss of income due to caring for a sick family member. Under this bill, people in this category would receive special protections, including an additional $250,000 exemption for their primary home or burial plots and a waiver of certain financial tests required to file for Chapter 7 or Chapter 13 bankruptcy. To qualify, a debtor must show that unpaid medical expenses exceeded a specific threshold relative to their income or that their financial situation was directly impacted by a health crisis or national emergency. The legislation also requires debtors to submit a sworn statement detailing their medical costs and ensures that bankruptcy records for these individuals are excluded from their consumer credit reports. These changes apply to bankruptcy cases filed after the law is enacted.
This resolution expresses support for designating July 10th as Journeyman Lineworkers Recognition Day to honor the workers who maintain the nation's electrical grid. The bill specifically recognizes the dangerous conditions these employees face, such as working at heights near live power lines and responding to disasters like hurricanes and wildfires. It also commemorates Henry Miller, the first president of the International Brotherhood of Electrical Workers, who died on July 10, 1896, while performing his duties. Ultimately, the measure encourages the public to observe this day with reflection on the contributions of lineworkers.
The Health and Location Data Protection Act of 2026 prohibits data brokers from buying, selling, or sharing personal location and health information, while allowing exceptions for authorized disclosures, HIPAA-compliant activities, and newsworthy public interest reporting. The Federal Trade Commission is tasked with defining specific data categories and enforcing these rules, with penalties including civil fines up to 15 percent of a company's revenue and the ability for the FTC, state attorneys general, and private individuals to sue for violations. This legislation applies to entities that trade data collected from others rather than directly from individuals, and it preempts only state laws that require the disclosure of data this bill forbids.
This bill prevents the National Science Foundation from stopping or dismantling the Ocean Observatories Initiative instruments located off the coasts of Oregon, Washington, Alaska, North Carolina, and in the Irminger Sea. It requires the agency to conduct a thorough review of the program with input from scientists and coastal communities before any such actions can occur. Until that review is finished, the bill mandates that the initiative continue operating normally in all areas where instruments were previously removed. The legislation directly affects the federal funding and operational status of this specific scientific research network.
The Sunshine for Our Kids Act of 2026 makes standard time permanent across the United States by repealing the requirement to observe daylight saving time. It allows individual states to choose whether to adopt standard time year-round or to continue observing daylight saving time, provided the entire state observes the same time. This change would eliminate the biannual clock shifts that currently occur in spring and fall.
