Maddy summaryHR 5073, titled the "Promoting Domestic Energy Production Act," is a tax code amendment affecting oil and gas companies. It changes how businesses calculate adjusted financial statement income by removing specific deductions related to intangible drilling and development costs from their financial reports. The bill requires companies to disregard depreciation and depletion expenses taken into account on their financial statements for these costs when computing taxable income. This applies to tax years beginning after December 31, 2022, directly impacting oil and gas producers who use these accounting methods. The bill does not create new energy policies but alters tax accounting rules for the industry.
Rep. Troy Balderson
Sponsored bills
Maddy summaryThis bill directs the U.S. Treasury to mint commemorative coins marking the Marine Corps' 250th anniversary in 2025. It authorizes three coin types: $5 gold coins (max 50,000), $1 silver coins (max 400,000), and half-dollar coins (max 750,000), with surcharges of $35, $10, and $5 respectively. The surcharge proceeds will fund the Marine Corps Heritage Center's educational programs, with no net cost to taxpayers as the Treasury must recover all minting costs through the surcharges. The coins can only be issued during 2025, and the Treasury must ensure all costs are covered before distributing funds to the Heritage Foundation.
Maddy summaryThe Taiwan Tax Agreement Act of 2023 authorizes the President to negotiate a tax agreement with Taiwan through the American Institute in Taiwan (AIT), aiming to reduce double taxation and prevent tax evasion for U.S. and Taiwanese businesses and investors engaged in cross-border trade and investment. The agreement must follow standard U.S. tax treaty practices (like the 2016 Model Convention), exclude entities based in China or without a U.S. tax treaty, and include anti-evasion measures. Before taking effect, Congress must approve the agreement via a specific concurrent resolution that simply states approval without debate or amendments.
Maddy summaryHR 608 terminates the Department of Veterans Affairs' (VA) Electronic Health Record Modernization Program, ending the VA's effort to replace its existing health records system. It directly affects VA hospitals and clinics currently using the new electronic health record system, requiring them to revert to the older Veterans Health Information Systems and Technology Architecture (VHIS&T) and Computerized Patient Record System (CPRS) within 180 days of the bill's enactment. Key provisions include abolishing the Modernization Integration Office, transferring remaining program functions to the Veterans Health Administration or IT office, and prohibiting new implementation of the modernized system during the transition. The bill also blocks contract extensions under the program but does not force early termination of existing contracts.
Maddy summaryHR 592 requires the Department of Veterans Affairs (VA) to obtain specific certifications before expanding or continuing its electronic health record system at VA facilities. For existing facilities, the VA must certify the system achieves 99.9% monthly uptime for four consecutive months and completes all pre-enactment system improvements. For new facility implementations, the VA must certify the system build is accurate, staff/infrastructure are ready, and implementation won’t harm patient safety, wait times, or care quality. This bill directly affects VA hospitals and the Veterans Health Administration by setting concrete technical and operational requirements before system changes can proceed.
Maddy summaryHR 4721, the Main Street Tax Certainty Act, makes a permanent the 20% tax deduction for eligible small business owners under Section 199A of the tax code. This provision directly affects pass-through business owners (like S-corps, partnerships, and sole proprietorships) who qualify for the deduction. The bill achieves this by removing the temporary expiration language (subsection (i)) from the existing tax code provision. The key change is ending the need for annual congressional extensions of this deduction, providing long-term tax certainty for small businesses.
Maddy summaryHR 3952 limits the flags that can be flown over Department of Veterans Affairs (VA) facilities to just six specific flags: the U.S. flag, any state flag, any federally recognized tribal government flag, the VA department flag, any military branch flag, and the POW/MIA flag. This applies directly to all VA buildings and properties nationwide. The bill explicitly restricts all other flags, including political or commemorative flags, from being displayed on these facilities.
Maddy summaryThe EHR Program RESET Act of 2023 establishes a new program to modernize the Department of Veterans Affairs' electronic health record system, creating a dedicated program office within the Veterans Health Administration. The bill sets specific performance metrics that facilities must meet before continuing EHR deployment, requires termination of the current Oracle-Cerner contract for training and change management, and mandates new reporting requirements on system stability, staff satisfaction, and interoperability. It also creates an advisory subcommittee of health care experts to provide guidance on the EHR modernization strategy and requires detailed reports on contract savings, system performance, and alternatives to the current EHR technology. The legislation aims to improve veteran care quality, provider satisfaction, and system security while reducing costs and preventing vendor lock-in.
Maddy summaryThe Mountain Valley Pipeline Completion Act (HR 3500) requires federal agencies to expedite permits and approvals for the Mountain Valley Pipeline project within 21 days of enactment. It mandates the Army, Agriculture, and Interior secretaries to issue necessary permits for construction and operation, while blocking all legal challenges to these approvals through judicial review. The bill directly affects the pipeline project by overriding existing legal barriers and agency decisions related to its completion. Key provisions include ratifying prior approvals, expediting permits, and prohibiting lawsuits seeking to invalidate agency actions for this specific pipeline. This law aims to accelerate the pipeline's construction to meet regional natural gas demand, as stated in the bill.
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.