The Great American Healthcare Plan is a comprehensive bill that modifies tax rules for Health Savings Accounts, expands access to health insurance through new marketplace pools, and strengthens price transparency for hospitals and medical providers. It allows individuals to use HSAs for wellness expenses like healthy food and gym memberships, lets parents and children access each other's HSA funds, and requires hospitals to publicly list their standard charges and negotiated rates. The legislation also mandates that administrative service providers share detailed pricing data with health plans and creates a mechanism for pharmacists and nurses to dispense certain low-risk prescription drugs under expanded access.
The Legacy IT Reduction Act of 2026 requires federal agencies to create and maintain an inventory of their outdated information technology systems, including details about costs, vendors, and planned updates. Under this bill, agency heads must develop five-year modernization plans every two years that outline how they will update, retire, or replace these legacy systems, with submissions to congressional oversight committees. The Office of Management and Budget will issue guidance on what qualifies as a legacy system and provide templates for inventory and planning, while the Comptroller General will review implementation three years after enactment. The law does not authorize new funding and will expire six years after enactment, with specific exemptions for national security systems and protections against transferring systems to foreign entities.
The Relief for Families of the Fallen Act provides tax relief for the families of public safety officers who die as a direct result of injuries sustained while on duty. This legislation removes income taxes for the year of death and any prior tax years since the injury occurred, applying to officers such as police, firefighters, and paramedics. To process these claims, the law requires the tax authority to use existing criteria for determining line-of-duty deaths and to handle requests quickly with minimal administrative burden on grieving families. The benefits become effective for officers who die on or after January 1, 2025.
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This bill creates an online portal to help surviving spouses and estate executors prepare and file their taxes after a death. The portal will offer tools like checklists, pre-filled forms, and secure document uploads while automatically connecting with Social Security death records. To support this system, the bill also establishes a grant program to help states improve how they record and report death information to the Social Security Administration.
This bill amends the Federal Crop Insurance Act to expand education and risk management assistance for agricultural producers, crop insurance providers, and other stakeholders. It requires the USDA to offer language translation services and update training programs to include diverse conservation practices like soil health improvements, sustainable water management, and agroforestry systems. The legislation increases funding limits, allowing producers to receive up to $200,000 over five years for these activities, while also authorizing $20 million annually in new appropriations. Additionally, it clarifies that payments for these programs do not count toward existing federal fund limits, ensuring producers can access multiple sources of support.
The Jersey Pride Tax Credit Act of 2026 creates a new tax incentive for businesses that sell products promoting the state of New Jersey. Under this bill, eligible businesses can claim a tax credit equal to 25 percent of the sales revenue from these specific products. Additionally, the legislation requires Port Authorities to give preference when renting commercial space to businesses selling such promotional items. These changes apply to products sold after December 31, 2025.
The Make Billionaires Pay Their Fair Share Act introduces a 5% annual wealth tax on individuals and trusts with net assets exceeding $1 billion, which is adjusted for inflation after 2026. The bill also expands Medicare coverage to include dental, hearing, and vision services, establishes a $60,000 minimum annual salary for public school teachers, and creates a birth-through-five child care entitlement program for working families. Additional provisions include increased eligibility for health insurance premium tax credits, expanded home and community-based services under Medicaid, and funding for various education and healthcare initiatives.
The Small Business Tax Cut Act increases the qualified business income deduction from 20 percent to 23 percent for eligible taxpayers, directly affecting small business owners and investors. The bill modifies income thresholds that limit this deduction for higher earners and extends the phase-in rules for taxable income above certain limits. Additionally, it allows dividends from qualified business development companies to be treated similarly to qualified REIT dividends for deduction purposes. These changes apply to taxable years beginning after December 31, 2026.
HR 8800, titled the National Defense Authorization Act for Fiscal Year 2027, authorizes funding for the U.S. Department of Defense for the upcoming fiscal year. The bill allocates specific amounts for procuring equipment and supplies across all military branches, including the Army, Navy, Marine Corps, Air Force, and Space Force. It also provides funds for research, development, testing, and evaluation activities, as well as money for the day-to-day operation and maintenance of military forces. These financial authorizations are detailed in funding tables within the legislation and apply to the fiscal year 2027 budget cycle.
Financial Services and General Government Appropriations Act, 2027 This bill provides FY2027 appropriations for several federal departments and agencies, including the Department of the Treasury, the Executive Office of the President, the judiciary, the District of Columbia, and several independent agencies. The independent agencies funded in the bill include the Administrative Conference of the United States, the Consumer Product Safety Commission, the Council of the Inspectors General on Integrity and Efficiency, the Election Assistance Commission, the Federal Communications Commission, the Federal Deposit Insurance Corporation Office of the Inspector General, the Federal Election Commission, the Federal Labor Relations Authority, the Federal Trade Commission, the General Services Administration, the Harry S. Truman Scholarship Foundation, the Merit Systems Protection Board, the Morris K. Udall and Stewart L. Udall Foundation, the National Archives and Records Administration, the National Credit Union Administration, the Office of Government Ethics, the Office of Personnel Management, the Office of Special Counsel, the Privacy and Civil Liberties Oversight Board, the Public Buildings Reform Board, the Securities and Exchange Commission, the Selective Service System, the Small Business Administration, the U.S. Postal Service, and the U.S. Tax Court. The bill also sets forth requirements and restrictions for using funds provided by this and other appropriations acts.
