Rep. Bill Pascrell, Jr.

ABLE Age Adjustment Act This bill increases from 26 to 46 the age threshold for tax-favored ABLE (Achieving a Better Life Experience) accounts. (ABLE accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses. To establish an account, an individual must have a qualifying impairment that began before the individual attained the age threshold.)

Iran Hostages Congressional Gold Medal Act This bill requires the Speaker of the House of Representatives and the President pro tempore of the Senate to arrange for the award of a Congressional Gold Medal commemorating the bravery and endurance of the 53 hostages of the Iran Hostage Crisis. Following its award, the medal shall be given to the National Museum of American History of the Smithsonian Institution for display and research. The Department of the Treasury must strike duplicate medals in silver for presentation to a hostage (or the personal representative of a deceased hostage), and Treasury may also strike and sell duplicate medals in bronze.

Carried Interest Fairness Act of 2021 This bill modifies the tax treatment of carried interest, which is compensation that is typically received by a partner of a private equity or hedge fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) This bill includes provisions that set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's qualified capital interest, exempt income from investment services partnership interests from treatment as qualifying income of a publicly traded partnership, exempt certain family partnerships from the application of this bill, increase the penalty for underpayments of tax resulting from failure to treat income from an investment services partnership interest as ordinary income, and include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment and applicable self-employment taxes. The bill defines investment services partnership interest as any interest in a partnership held by a person who provides services to a partnership by (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.

This resolution impeaches President Donald John Trump for high crimes and misdemeanors. Specifically, the resolution sets forth an article of impeachment stating that President Trump incited an insurrection against the government of the United States. The article states that prior to the joint session of Congress held on January 6, 2021, to count the votes of the electoral college, President Trump repeatedly issued false statements asserting that the presidential election results were fraudulent and should not be accepted by the American people or certified by state or federal officials; shortly before the joint session commenced, President Trump reiterated false claims to a crowd near the White House and willfully made statements to the crowd that encouraged and foreseeably resulted in lawless action at the Capitol; members of the crowd, incited by President Trump, unlawfully breached and vandalized the Capitol and engaged in other violent, destructive, and seditious acts, including the killing of a law enforcement officer; President Trump's conduct on January 6, 2021, followed his prior efforts to subvert and obstruct the certification of the presidential election, which included a threatening phone call to the Secretary of State of Georgia on January 2, 2021; President Trump gravely endangered the security of the United States and its institutions of government, threatened the integrity of the democratic system, interfered with the peaceful transition of power, and imperiled a coequal branch of government; and by such conduct, President Trump warrants impeachment and trial, removal from office, and disqualification to hold U.S. office.

This resolution recognizes the cultural and historical significance of the Lunar New Year. The resolution expresses, in observance of this Lunar New Year, the Year of the Ox, the deepest respect of the House of Representatives for Asian Americans and all individuals throughout the world who celebrate this significant occasion. The resolution wishes Asian Americans and all individuals who observe this holiday a happy and prosperous new year.

Law Enforcement Officers Equity Act This bill expands the definition of law enforcement officer under provisions of the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS). Specifically, the bill expands the definition to include (1) federal employees whose duties encompass the investigation or apprehension of suspected or convicted criminals and who are authorized to carry a firearm; (2) Internal Revenue Service employees whose duties are primarily the collection of delinquent taxes and the securing of delinquent returns; (3) U.S. Postal Inspection Service employees; (4) Department of Veterans Affairs police officers; and (5) certain U.S. Customs and Border Protection employees who are seized-property specialists with duties relating to custody, management, and disposition of seized and forfeited property. The bill deems service performed by an incumbent law enforcement officer on or after the enactment date of this bill to be service performed as a law enforcement officer for retirement purposes. The past service of such incumbents shall be treated as service performed by a law enforcement officer for retirement purposes only if a written election is submitted to the Office of Personnel Management within five years after the enactment of this bill or before separation from government service, whichever is earlier. An incumbent who makes an election before the enactment of this bill may pay a deposit into the Civil Service Retirement and Disability Fund to cover prior service. A law enforcement officer shall not be subject to mandatory separation during the three-year period beginning on the enactment of this bill.

Small Business Succession Planning Act This bill requires the Small Business Administration (SBA) to establish a program to assist small businesses with developing and implementing business succession plans. The bill also provides a tax credit for a business that establishes a succession plan or that successfully carries out such a plan. A business succession plan identifies who will assume the ownership responsibilities of a small business upon the owner's death or retirement, and it includes an operational description of the small business to ensure the continuation of operations. To carry out the program, the SBA must develop and make publicly available a toolkit to assist small business with succession planning. Further, it must train resource partners on the toolkit, educate small businesses about the program, and ensure that each SBA district office and each resource partner employs someone to counsel small businesses on using the toolkit.

"Six Triple Eight" Congressional Gold Medal Act of 2021 This bill directs the Speaker of the House of Representatives and the President pro tempore of the Senate to arrange for the award of a Congressional Gold Medal in honor of the women of the 6888th Central Postal Directory Battalion (commonly known as the Six Triple Eight) in recognition of their pioneering military service, devotion to duty, and contributions to increase the morale of personnel stationed in the European theater of operations during World War II. The medal shall be given to the Smithsonian Institution and made available for display and research.

Stop the Attack on Local Taxpayers Act of 2021 or the SALT Act This bill repeals the limitation on the deductibility of state and local taxes during 2018-2025. It also increases from $250 to $1,000 the tax deduction for certain expenses of elementary and secondary school teachers and allows a deduction from gross income (above-the-line) for certain training and uniform expenses of first responders (i.e., individuals who are law enforcement officers, firefighters, paramedics, or emergency medical technicians for at least 1,000 hours during a taxable year). The bill expands individual income tax brackets and increases the top income tax rate for individual taxpayers to 39.6%.

American Family Act of 2021 This bill modifies the child tax credit to (1) make the credit fully refundable, (2) increase the amount of the credit and allow an additional credit for children who are under six years of age, (3) require the amount of the credit to be adjusted annually for inflation, and (4) require the Department of the Treasury to establish a program for making advance payments of the credit on a monthly basis.