This bill authorizes $74 million annually for fiscal years 2026 and 2027 to restore U.S. funding for the United Nations Population Fund (UNFPA), directly supporting its global reproductive health programs. It specifically funds UNFPA's work to end preventable maternal deaths, address unmet contraceptive needs, prevent gender-based violence, and combat harmful practices like female genital mutilation and child marriage across 150+ countries. The funding applies to UNFPA's core operations in humanitarian crises (e.g., Yemen, Afghanistan, Sudan) and excludes programs in China. This would reverse the 2025 funding halt that already caused health center closures and service disruptions for millions of women and girls.
This bill permanently extends the New Markets Tax Credit (NMTC) program, which incentivizes private investment in low-income communities. It modifies the tax code to keep the credit available beyond 2025 (replacing "2020 through 2025" with "2020 and each calendar year thereafter") and adds automatic annual inflation adjustments to the credit amount starting in 2026. The bill also provides tax relief by allowing NMTC credits to offset the alternative minimum tax, specifically for investments made after December 2024. This directly affects community development financial institutions (CDFIs) and investors who fund projects in designated low-income areas.
This bill reinstates $200 transfer and manufacturing taxes on most firearms (replacing reduced rates from prior law) and maintains a $5 tax for "other weapons," affecting firearm manufacturers and dealers. It also adds $1.7 billion to the Medicare Part A trust fund for fiscal year 2026 to support hospital insurance costs. The tax changes apply 90 days after enactment, while the Medicare funding is available until expended. The bill directly impacts firearms industry costs and provides dedicated funding for Medicare's hospital insurance program.
This bill reauthorizes the State and Local Cybersecurity Grant Program through fiscal year 2026. It sets federal cost-sharing rates at 60% for state governments and 70% for local governments in 2026, and authorizes $300 million in funding for that fiscal year. The program provides grants to state and local governments to improve cybersecurity infrastructure, directly supporting their efforts to protect public systems and data. The bill extends the program’s expiration date from September 30, 2025, to September 30, 2026.
S 2664, the Skilled Workforce Act, creates a 30% federal tax credit for businesses investing in training facilities that address workforce shortages in high-demand industries like high-tech manufacturing, clean energy, construction, and advanced transportation. The credit applies to eligible institutions (such as community colleges, career schools, and public secondary schools) partnering with businesses to build or upgrade facilities for skills-based training programs. Projects must be certified by Treasury and Commerce, with a total funding cap of $500 million, prioritizing rural schools and those serving underserved communities. The credit cannot be combined with other tax benefits for the same investment and applies to property placed in service after the bill's enactment.
HRES 36 creates a new House committee, the Committee on the Elimination of Nonessential Federal Programs, to review and recommend cutting underperforming or unnecessary federal programs. The committee, composed of 14 members (including four from key committees and a bipartisan chair/vice chair), must annually report findings and propose specific legislation to eliminate targeted programs. It establishes expedited rules for such legislation, including a 10-hour debate limit and no amendments, while dissolving after the 120th Congress. This resolution directly affects House procedures and future budget decisions by streamlining program-cutting efforts.
HR 2655 would end the federal income tax on unemployment compensation for most recipients starting in 2025. It amends the tax code to remove the requirement that unemployment benefits be included in taxable income after December 31, 2024. This means individuals receiving unemployment benefits in 2025 or later would not owe federal income tax on those payments. The change applies to all eligible unemployment benefits received after the 2024 deadline, effectively sunsetting the existing tax treatment.
This bill increases the tax exclusion for capital gains when selling a primary residence. It doubles the exclusion amount from $250,000 (for single filers) to $500,000 and from $500,000 (for married couples) to $1,000,000. The bill also adds an inflation adjustment for amounts after 2025, tying future increases to the cost-of-living adjustment. It directly affects homeowners who sell their primary residence and would otherwise owe tax on profits exceeding the previous limits. The changes apply to sales after the bill's enactment date.
The Social Security Emergency Inflation Relief Act (S 3078) would provide an additional $200 monthly payment to Social Security beneficiaries, Supplemental Security Income (SSI) recipients, railroad retirement beneficiaries, and veterans receiving disability compensation or pension payments during the six-month period from January 1 to June 30, 2026. These payments would be delivered automatically through existing benefit channels and would not count as income for tax purposes or affect eligibility for other government assistance programs. The bill allocates $11 million for Treasury administrative costs and $83 million for the Social Security Administration to manage the payments, with funding covering the entire implementation period. This temporary measure aims to provide direct financial relief to vulnerable groups during a specified inflationary period.
This bill provides tax relief for small businesses by creating a graduated corporate tax rate, where businesses with taxable income under $5 million would pay 18% on the first $400,000 of income and 21% on the remainder. It establishes special tax treatment for investment management services provided through partnership structures, reclassifying certain capital gains and losses as ordinary income or loss for these specific partnerships. The bill also includes an enhanced deduction for lower-income self-employed individuals with adjusted gross income under $400,000 and increases the excise tax on corporate stock repurchases from 1% to 1.5%. These provisions primarily affect small businesses, small business owners, and investment management professionals operating through partnership structures.
