Rep. Patrick T. McHenry

Maddy summaryHR 1435, the Preserving Choice in Vehicle Purchases Act, amends the Clean Air Act to restrict states from implementing vehicle emissions rules that limit the sale or use of new gasoline-powered cars. It directly affects states with stricter emissions standards (like California) by adding a new definition that blocks state rules "directly or indirectly" limiting internal combustion engine vehicles as defined in federal regulations as of January 1, 2023. The bill requires the EPA to revoke existing state emissions waivers granted between January 2022 and the bill’s enactment if they don’t comply with this new definition. This creates a concrete federal standard preventing states from advancing policies that could reduce demand for conventional vehicles.

Maddy summaryHR 3152, the "Fight CRIME Act," aims to maintain international restrictions on Iran's missile-related activities by requiring diplomatic efforts to extend these restrictions before they expire in October 2023. The bill mandates annual reports detailing U.S. diplomatic strategies, potential impacts of expiration, and measures to deter missile technology transfers to Iran. It establishes sanctions against foreign individuals or entities that knowingly support Iran's missile or drone programs, including asset freezes and visa restrictions. These sanctions apply regardless of whether UN restrictions remain in effect after their expiration, directly affecting foreign entities involved in these activities.

Maddy summaryHCONRES 18 sets strict 30-day deadlines for the Joint Committee on the Library to review and act on North Carolina's submission for a statue of Reverend Billy Graham in the National Statuary Hall. It requires the Committee to approve or deny the clay model design within 30 days of receiving detailed submissions (including photos, dimensions, and engineering data), then approve the final statue within another 30 days of receiving final documentation. If approved, the Committee must also select a Capitol location within 30 days. This procedural bill directly affects North Carolina (as the submitting state) and the Joint Committee, streamlining an existing approval process without altering substantive policy.

Maddy summaryHR 5241 amends tax code provisions to allow governmental pension plans to include firefighters, emergency medical technicians (EMTs), and paramedics who work full-time in firefighting or out-of-hospital emergency medical services for public safety agencies under local government contracts. The bill prevents these pension plans from being disqualified as "governmental plans" solely because they cover these specific public safety workers, as defined by the Homeland Security Act. This change directly affects state and local government pension systems that serve emergency response personnel. The policy update applies to plan years starting after the bill's enactment.

Maddy summaryHJRES 44 is a congressional resolution seeking to block a 2021 rule by the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF). The rule classified firearms with stabilizing braces as "short-barreled rifles," which would have required additional licensing and regulation. This resolution uses a specific legal process (under Title 5, U.S. Code) to formally disapprove the ATF rule, meaning the rule would no longer be in effect. It directly affects firearm owners, manufacturers, and dealers who would have been subject to the rule’s requirements.

Maddy summaryHR 277 would require Congress to approve major federal regulations before they take effect. Major rules are defined as those with significant economic impact ($100 million+ annually), major cost increases for consumers or industries, or significant adverse effects on competition, employment, or innovation. Agencies must submit detailed information about these rules to Congress, including cost-benefit analyses, before they can take effect. Congress would have 70 session days to approve the rule with a joint resolution; if they don't act within that timeframe, the rule would not take effect. This would increase congressional oversight of federal regulations and require more detailed information about proposed rules before they become law.

Maddy summaryHR 4035, the Protecting Small Business Information Act of 2023, requires the Treasury Secretary to coordinate the effective dates of all rules under the Corporate Transparency Act. It mandates that all final rules related to beneficial ownership reporting must take effect on the same date, delaying implementation until the Secretary certifies to Congress that all rules are issued and will align on a single effective date. This directly affects small businesses required to report beneficial ownership information under the Corporate Transparency Act. The bill’s key mechanism is creating a unified implementation timeline, preventing staggered rule deadlines that could complicate compliance for small entities. It does not change reporting requirements but ensures a synchronized rollout of the regulations.

Maddy summaryHR 4036, the Accountability through Confirmation Act, changes the appointment process for the Director of the Financial Crimes Enforcement Network (FinCEN). It requires the President to appoint the Director with Senate confirmation (instead of the Treasury Secretary), sets the Director's pay at Executive Schedule Level IV, and provides a transition period for the current Director until the new appointee is confirmed. This bill directly affects FinCEN leadership by shifting appointment authority to the President and Senate. The key change is the requirement for Senate confirmation of the FinCEN Director, altering the current process.

Maddy summaryHR 2610 amends the Securities Exchange Act to help emerging growth companies (those with under $1 billion in annual revenue) by shortening the required financial history in stock offering documents from three years to two years. It also creates a new process allowing these companies to submit draft registration statements to the SEC for confidential, nonpublic review by staff before making them public. Drafts must be publicly filed 10 days before the requested effective date, and the SEC cannot disclose any information shared under this process, treating it as confidential under federal law. This bill directly affects early-stage companies seeking to go public by reducing disclosure burdens and providing early feedback.

Maddy summaryHR 2608 simplifies financial reporting requirements for emerging growth companies (EGCs) under federal securities laws. It removes the need for EGCs to provide financial statements or acquired company data for periods before their initial public offering (IPO), even after they no longer qualify as EGCs. The bill amends the Securities Act of 1933 and Securities Exchange Act of 1934 to specify that EGCs only need to present financials starting from the earliest audited period shown in their IPO filing. This directly affects newer public companies with less than $1 billion in annual revenue, reducing their historical reporting burden.