Disaster Reforestation Act This bill sets forth a special rule for the tax deduction for casualty losses of uncut timber (including pre-merchantable timber). It provides that in losses of any uncut timber from fire, storm, insects, invasive species, drought, or other casualty, or from theft, the basis for determining the amount of the deduction for such loss shall not be less than the excess of the value of such timber determined immediately before such loss was sustained, over the salvage value of such timber. To be eligible for the casualty loss deduction, the uncut timber subject to the loss must be reforested not later than the close of the five-year period beginning on the date of the loss.
Sponsored bills
Maddy summaryHR 582, the Credit Union Board Modernization Act, changes the required meeting frequency for boards of directors at federal credit unions. It replaces a simple "monthly" requirement with tiered schedules based on each credit union's performance rating under the Uniform Financial Institutions Rating System. Top-rated credit unions (ratings 1 or 2) must meet at least six times yearly, with one meeting per fiscal quarter. Lower-rated credit unions (ratings 3, 4, or 5) must meet monthly, and new credit unions must meet monthly for their first five years. This directly affects all federal credit unions by adjusting their board meeting obligations based on their regulatory rating.
Maddy summaryThis symbolic House resolution (HRES 72) recognizes independent workers, contractors, and freelancers for their economic contributions to the U.S. It highlights their role in the growing flexible work economy and acknowledges the benefits of flexible work arrangements, such as freedom in hours and locations. The resolution does not create new laws or alter existing policies - it solely serves as a formal acknowledgment of these workers' significance to the economy. It references their $1.35 trillion economic contribution in 2022 and their growing share of the workforce (39% of U.S. workers).
This resolution recognizes and appreciates the dedication and devotion demonstrated by the men and women of law enforcement. It also condemns calls to defund, disband, dismantle, or abolish the police.
Maddy summaryThis bill requires manufacturers of internet-connected toys (targeted at children) to clearly label packaging and include simple explanations in privacy terms about how personal data is collected, stored, and shared. Specifically, labels must state if the toy connects to the internet and collects children's information (like voice recordings or location), and privacy terms must detail what data is gathered, how it's used, and whether parents can disable data collection. It directly affects toy companies selling such products in the U.S. and is enforced by the FTC under existing laws for deceptive practices. The goal is to give parents clear, upfront information about data handling without restricting toy functionality.
Maddy summaryThis bill would prohibit the FDA from approving new abortion medications or investigational uses of existing ones. It would restrict currently approved abortion drugs to in-person administration only in clinics, hospitals, or medical offices by certified providers who can handle complications like ectopic pregnancy or severe bleeding. The law requires detailed adverse event reporting (excluding patient identifiers) to the FDA by both manufacturers and prescribers, and mandates provider certification covering pregnancy assessment, surgical intervention capabilities, and patient safety documentation. These provisions apply directly to healthcare providers, patients seeking medication abortions, and manufacturers of abortion drugs.
Maddy summaryHR 556, the 21st Century Dollar Act, requires the U.S. Treasury Secretary to develop and report to Congress on a strategy to maintain the dollar's role as the primary global reserve currency. The bill mandates a detailed report within 180 days of enactment, covering implementation measures, legislative recommendations, assessments of foreign digital currencies (especially China's renminbi), and risks to U.S. interests from international currency trends. The Treasury must also submit annual updates on this strategy and provide an assessment of China's currency policies and cross-border payment systems. The requirement expires 7 years after the bill becomes law. This bill directly affects the Treasury Department and Congress, focusing on concrete reporting obligations rather than new spending or regulations.
Maddy summaryThe Educational Choice for Children Act creates tax credits for individuals and corporations that contribute to scholarship granting organizations providing education scholarships. Individuals can claim a credit up to $5,000 or 10% of their income, while corporations can claim up to 5% of taxable income. The scholarships are available to students from households with income up to 300% of the area median income, and can be used for private school tuition, tutoring, and other educational expenses at elementary and secondary schools. The bill includes strict requirements for scholarship organizations to verify income, conduct audits, and prevent misuse of funds, while also prohibiting government control over these organizations and protecting private and religious schools from discrimination in the program. It establishes a $10 billion annual cap on the total tax credits available.
This concurrent resolution calls on the President to abandon the One China policy in favor of one that recognizes Taiwan as an independent country that is not a part of China. The resolution also urges the President to bolster diplomatic and economic relations between the United States and Taiwan through specified means.
ATF Accountability Act of 2023 This bill establishes a federal statutory process for licensed gun dealers, importers, or manufacturers to appeal a ruling or determination by the Bureau of Alcohol, Tobacco, Firearms and Explosives.