Sen. David McCormick

Maddy summaryS 3447 establishes the Advisory Committee on Economic Impacts of Military Escalation by the People's Republic of China toward Taiwan. This committee, composed of federal financial regulators and private sector experts, will study how potential Chinese military actions near Taiwan could affect U.S. markets, including estimated economic costs, market volatility risks, and impacts on securities listed in the U.S. The committee must conduct a comprehensive study within three years of the bill's enactment and submit recommendations to the Financial Stability Oversight Council, Congress, and the Secretary of State. It will hold public meetings to share findings, excluding sensitive national security details. The bill directly affects financial markets, regulators, and institutions participating in capital markets.

Maddy summaryS 3451, the Houthi Human Rights Accountability Act, requires the U.S. State Department to report on Houthi (Ansarallah) actions in Yemen that restrict humanitarian aid, promote extremist indoctrination, and commit human rights abuses like child soldier recruitment and torture. The bill mandates three specific reports within 180 days of enactment: on Houthi indoctrination efforts, obstacles to aid delivery, and human rights violations committed by the Houthis since 2015. It also directs annual determinations on whether Houthi members should face sanctions under existing laws like the Global Magnitsky Act for restricting aid or committing abuses. The bill directly targets Houthi leadership and members, with no immediate policy changes but setting a framework for potential future sanctions based on the reports. The law expires five years after enactment.

Maddy summaryThe Safeguarding U.S. Rulemaking Act restricts public participation in federal rulemaking to U.S. citizens and entities, excluding foreign governments and their nationals or entities designated as "foreign adversaries" by the Secretary of Commerce under 15 CFR §791.4(a). It amends Section 553 of Title 5, U.S. Code, to add a new provision (f) explicitly barring these foreign adversaries from commenting on or petitioning for agency rules. This change directly affects foreign governments, nationals, and entities meeting the "foreign adversary" definition, preventing them from influencing U.S. regulatory processes during public comment periods. The bill does not alter standard rulemaking procedures but limits who can submit input during agency rulemaking.

Maddy summaryThis bill requires federal agencies to report detailed payment information - including the purpose, funding source, and payment type - to the Treasury before disbursing funds. It mandates agencies to verify recipient bank account details and cross-check payment records to prevent errors or fraud. The Treasury gains access to databases like the National Directory of New Hires and tax/Social Security data (with privacy safeguards) to identify and recover improper payments. These requirements apply to all agencies using Treasury payment systems, aiming to improve transparency and reduce wasteful spending.

Maddy summaryThis bill (S 3405) requires the Securities and Exchange Commission (SEC) to study financial firms controlled by or organized under Chinese law that operate in the U.S. Specifically, it mandates a study of Chinese-controlled brokers/dealers registered with the SEC and Chinese-controlled investment advisers registered with the SEC, focusing on transparency and cooperation. The SEC must complete this study and submit a report to Congress within one year of the bill's enactment. The bill directly affects Chinese-controlled financial intermediaries operating under U.S. SEC registration, but does not impose new regulations or alter existing laws.

Maddy summaryThis bill specifies the location for a World War II Women's Memorial already authorized by law. It directs that the memorial, honoring over 18 million women who worked on the home front during WWII, be placed on federal land in Washington, D.C. Specifically, it allows the memorial to be situated either in "Area I" on the National Mall (as defined by a 2003 map) or within the National Mall's "Reserve" area. The bill does not create new policy or change memorial requirements - it only clarifies the physical location on federal land.

Maddy summarySRES 536 is a non-binding Senate resolution designating December 2, 2025, as "World Nuclear Energy Day." It commemorates nuclear energy's role in clean power generation, highlighting historical milestones like the first nuclear chain reaction (1942) and the first commercial nuclear plant (1957). The resolution celebrates nuclear energy's contributions to U.S. electricity (18% of generation, 43% carbon-free), job creation (over 70,000 direct jobs), and national security, without creating new laws or affecting any group. It serves as a symbolic recognition of the industry's achievements.

Maddy summaryThe PBM Price Transparency and Accountability Act requires pharmacy benefit managers (PBMs) to be more transparent about drug pricing and ensure accurate payments to pharmacies. It establishes national average drug acquisition cost benchmarks for Medicaid, prohibits PBMs from keeping excessive profits through "spread pricing," and mandates detailed reporting of drug pricing, rebates, and fees. The bill affects Medicaid programs, Medicare Part D plans, and the PBMs that negotiate drug prices on behalf of insurers. It includes enforcement mechanisms like civil penalties for non-compliance and requires PBMs to report detailed pricing information to the Secretary of Health and Human Services.

Maddy summaryThe SAFE Chips Act of 2025 requires U.S. exporters to obtain government licenses before sending advanced computer chips to "foreign adversary countries" (including China, Hong Kong, and Macau) or to entities owned by such countries. It defines "advanced integrated circuits" using specific technical standards, such as high processing power (e.g., 4,800+ performance points) or bandwidth (e.g., 4,100+ gigabytes per second), excluding chips designed for data centers. The bill mandates license denials for these exports and allows the Commerce Secretary to update technical definitions after 30 months, with required Congressional briefings on national security impacts. This directly affects chip manufacturers and companies exporting to specified regions, imposing strict controls on advanced semiconductor trade.

Maddy summaryThe Back the Blue Act of 2025 creates new federal criminal offenses for killing or assaulting law enforcement officers, judges, and certain public safety personnel (including firefighters and first responders) while they are on duty or because of their official status. It increases penalties for these crimes, including minimum 10-year prison terms for killing officers and longer sentences for assaults causing serious injury, with the death penalty possible for killings. The bill also adds a "flight to avoid prosecution" provision for those fleeing to evade charges for killing officers, expands law enforcement officers' rights to carry firearms in certain circumstances, and limits federal habeas corpus relief for individuals convicted of killing law enforcement officers. This legislation directly affects law enforcement officers, judges, and public safety personnel, as well as individuals who commit violence against them.