Sen. Tom Cotton

Maddy summaryThe ACRE Act of 2023 excludes interest income from certain loans from taxation for qualified lenders. It applies to loans secured by rural or agricultural real estate (including single-family homes in designated rural areas with a $750,000 principal limit) or aquaculture facilities. Qualified lenders include insured banks and certain entities owned by bank holding companies. The bill aims to reduce tax burdens on lenders providing rural credit, making such financing more financially viable. It takes effect for taxable years after enactment.

Maddy summaryThis bill (S 2394, GUARD Act) amends federal child welfare funding rules to require states to avoid taking adverse actions against parents who oppose medical treatments, social changes (like name/pronoun use), or gender-affirming care for minors. It directly affects parents, guardians, or legal representatives who object to such interventions for minors whose gender identity they believe conflicts with their biological sex (determined at birth). The key mechanism blocks federal funding for any state that discriminates against these parents, and allows affected parents to sue to stop funding and recover money paid to violating states. The bill focuses on altering state eligibility for federal child welfare funds based on parental objections to gender-related care for minors.

Maddy summaryThis bill establishes a pathway to conditional permanent resident status for Afghan nationals who supported U.S. missions in Afghanistan between 2001 and 2021, including those who served in Afghan security forces or provided direct support to U.S. operations. It creates an Interagency Task Force to develop a resettlement strategy for Afghan allies, including processing applications for those still in Afghanistan. The bill also creates special visa categories for certain relatives of military members and streamlines the process for Afghans already in the U.S. who were paroled or admitted after July 2021. It includes provisions to ensure Afghans can access benefits equivalent to refugees and establishes requirements for security assessments and periodic meetings. The bill authorizes $20 million annually for implementation and requires regular reporting to Congress on the resettlement strategy.

Maddy summaryThis bill requires the Federal Housing Finance Agency (FHFA) to immediately revert to the previous mortgage pricing structure (effective April 30, 2023) by eliminating the "recalibrated" fee system for single-family mortgages. It directly affects lenders and borrowers by banning fees based on debt-to-income ratios and mandating that future fee adjustments must align with risk-based pricing principles. The bill also mandates a 14-month GAO study to analyze the previous pricing changes' methodology, economic impacts on borrowers and lenders, and effects on affordable housing. This reverses recent FHFA policy changes without altering the underlying regulatory framework for mortgage enterprises.

Maddy summaryThe Ensuring Sound Guidance Act requires investment advisors and retirement plan fiduciaries to prioritize financial factors (like risk and return) in investment decisions, unless clients or participants provide written consent to consider non-financial goals such as environmental or social objectives. If non-financial factors are used, advisors must disclose expected and actual financial impacts over a three-year period. The bill also mandates three studies: one on state/local pension plans potentially subordinating financial interests to non-financial goals, one on climate change disclosures in municipal bonds, and one on rules preventing payments to officials for municipal securities business. These studies aim to assess financial risks and regulatory effectiveness without advocating for specific outcomes.

Maddy summaryS 2230, the Protecting Investors’ Personally Identifiable Information Act, prevents the Securities and Exchange Commission (SEC) from requiring financial exchanges and their members to report investors' personal details like names, addresses, or Social Security numbers under routine data reporting rules. The SEC may only request such information during an investigation into suspected securities law violations, and must destroy it within 24 hours after the investigation concludes. This directly affects national securities exchanges, associations, and their members who handle market participant data. The bill aims to limit unnecessary collection and retention of sensitive investor information while maintaining enforcement capabilities.

Maddy summaryThis bill establishes a federal compensation program for poultry farmers whose operations are restricted in "control areas" designated by the Animal and Plant Health Inspection Service (APHIS) due to animal health threats. It requires the Secretary of Agriculture to pay affected farmers an amount calculated as their average income from the five most recent flocks multiplied by the number of flocks they were prohibited from raising during the control period. Compensation is capped to avoid double payments - covering only the difference between the calculated amount and any existing state or other compensation received. Payments must be issued within 60 days of a farmer’s request, and farmers who already received compensation for destroyed animals under existing law are excluded.

Maddy summaryThis joint resolution (SJRES 36) seeks congressional disapproval of a Department of Labor rule (88 Fed. Reg. 12842, March 1, 2023) that would have removed religious exemption provisions from the Equal Opportunity Clause requirements for federal contractors. If approved, it would prevent the rule from taking effect, meaning federal contractors would continue to be required to comply with the Equal Opportunity Clause without the religious exemption previously allowed. The bill directly affects federal contractors subject to the Office of Federal Contract Compliance Programs' (OFCCP) regulations. It is a procedural disapproval measure under Title 5, U.S. Code, not a new policy change.

Maddy summarySJRES 11 is a joint resolution seeking to cancel an Environmental Protection Agency (EPA) rule that set new emissions standards for heavy-duty vehicles, including trucks and buses. The rule, published in the Federal Register on January 24, 2023, would have required manufacturers to meet specific pollution control measures for new vehicles. This resolution uses a congressional disapproval process under the Congressional Review Act to nullify the EPA rule, meaning it would have no legal effect if enacted. If passed, the EPA's emissions standards for heavy-duty vehicles would be voided, removing requirements for manufacturers to comply with those specific pollution controls.

Maddy summaryS 2210, the Iran Sanctions Relief Review Act, requires the President to submit a detailed report to Congress before terminating, waiving, or significantly altering U.S. sanctions on Iran. Congress then has 30 days (or 60 days during summer months) to review the proposal through committee hearings and decide whether to approve or disapprove it via joint resolution. During this review period, the President cannot implement the sanction change without Congressional approval. The bill directly affects the executive branch's ability to modify Iran sanctions policy and gives Congress formal oversight authority over major foreign policy shifts related to Iran.