Sen. Joni Ernst

Maddy summaryThis bill repeals the federal estate tax and generation-skipping transfer tax for estates of people who die on or after the bill's enactment date, directly affecting heirs of large estates (typically valued over $13 million for 2025). It also modifies the gift tax by establishing a $10 million lifetime exemption (adjusted for inflation), replacing the current exemption amount. The bill sets new tax brackets for gifts exceeding this threshold and adjusts the calculation method for gift tax liability. These changes apply to gifts made or estates settled after the bill becomes law, with no impact on existing estate plans or transfers before enactment.

Maddy summaryThis bill amends the Clean Air Act to expand fuel options for retailers and support small refineries. It allows fuel blends containing 10-15% ethanol to meet vapor pressure requirements during high ozone seasons, replacing previous state-specific limits with a nationwide standard. Additionally, it enables small refineries to reclaim retired renewable fuel credits from 2016-2018 compliance years or apply them to future obligations under specific conditions. The changes directly affect fuel retailers selling ethanol-blended gasoline and small refineries participating in the renewable fuel program.

Maddy summaryS 533, the National Right-to-Work Act, eliminates requirements for workers to join a union or pay dues as a condition of employment in private-sector workplaces and railroads. It amends the National Labor Relations Act (NLRA) and Railway Labor Act by removing language that allowed "union security agreements," meaning employers and unions can no longer mandate union membership or financial dues for employees. This directly affects workers in unionized private companies and railroad jobs covered by collective bargaining agreements. The law applies to new or renewed contracts after its enactment, changing how labor agreements can structure financial obligations for employees.

Maddy summaryThe Presidential Allowance Modernization Act of 2025 increases annual financial benefits for former U.S. Presidents and their surviving spouses. It sets a $200,000 annual annuity and a $200,000 annual allowance for former Presidents (replacing prior rates), and raises the surviving spouse allowance from $20,000 to $100,000 per year. Both the annuity and allowance for former Presidents will adjust annually for inflation using Social Security's cost-of-living formula. The allowance for former Presidents may be reduced if their income exceeds $400,000, but the reduction is structured to ensure the allowance remains sufficient for security costs.

Maddy summaryS 538, the ELECT Act of 2025, ends taxpayer funding for presidential election campaigns after 2024. It terminates the existing system where income tax payments financed campaigns by amending the tax code to stop this practice starting in 2025. Any remaining funds in the Presidential election campaign fund will be transferred to the general Treasury to reduce the federal deficit. This bill directly affects future presidential campaigns and the federal budget by removing taxpayer subsidies for campaign expenses.

Maddy summaryThe ELITE Vehicles Act repeals three key tax credits for electric vehicles under the Internal Revenue Code: the clean vehicle credit (Section 30D), the credit for previously-owned clean vehicles (Section 25E), and the credit for qualified commercial clean vehicles (Section 45W). It also excludes electric vehicle recharging property from the alternative fuel vehicle refueling credit. These changes directly affect individuals and businesses purchasing new or used electric vehicles, as well as those installing EV charging infrastructure, by eliminating the associated tax benefits. The repeal applies to vehicles purchased or under binding contract after 30 days following the bill's enactment.

Maddy summaryThis bill, S 557, repeals Section 704B of the Equal Credit Opportunity Act, which required financial institutions to collect and report detailed data on small business loan applications. It directly affects banks and credit unions - especially smaller community institutions - that previously had to comply with these reporting rules. The key provision removes the data collection and reporting obligations, aiming to reduce administrative costs for lenders. This change would eliminate a specific regulatory requirement without altering how small business loans are issued or approved.

Maddy summarySRES 71 authorizes the Senate Committee on Small Business and Entrepreneurship to spend specific amounts from the Senate's operating fund for its operations during 2025-2027. It sets annual spending limits: $2.77 million for March 2025-September 2025, $4.75 million for fiscal year 2026, and $1.98 million for October 2026-February 2027, with caps of $50,000 for consultants and $10,000 for staff training in each period. The resolution covers personnel costs, consultant services, and committee expenses but does not create new policies or affect external entities. It is a procedural funding measure for the committee’s internal operations, not a substantive legislative change.

Maddy summaryS 511 requires federal labor organizations (like unions representing government employees) to pay quarterly fees for using agency resources and union time. Fees are calculated based on the agency's hourly pay rate for employees (including benefits) for union time, plus market rates for resources like office space, equipment, or parking. Non-payment triggers penalties: denial of union time after 90 days, termination of union allotments after 180 days, and loss of exclusive representation certification after 365 days. The bill aims to offset costs of federal resources used for union activities, with fees deposited into the Treasury general fund.

Credit Union Board Modernization Act This bill revises the required frequency of meetings held by a credit union's board of directors. Specifically, new credit unions and credit unions with a low soundness rating must meet monthly. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, all credit union boards must meet at least once a month.