Sen. Sherrod Brown

Adjustable Interest Rate (LIBOR) Act This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain payments or obligations. In the event a contract referencing LIBOR does not have a fallback or replacement rate provision in effect when LIBOR is retired, or a replacement rate is not selected by a determining person as defined by the bill, the bill provides for a transition to a replacement rate selected by the Board of Governors of the Federal Reserve System. The bill also provides for conforming changes to these contracts, the continuity and enforceability of these contracts, and protections against liability as a result of such a transition.

This resolution designates March 2022 as National Women's History Month. The resolution also recognizes the celebration of such month as a time to reflect on the contributions that women have made to the United States.

Susan Muffley Act of 2022 This bill restores the full vested monthly benefits for eligible participants of certain pension plans that were sponsored by Delphi Corporation and terminated as a result of General Motors' bankruptcy in 2009. The Pension Benefit Guaranty Corporation (PBGC) must recalculate and adjust each plan participant's monthly benefits payment. The PBGC must also apply the recalculation to previously-made monthly payments and make a lump-sum payment for any additional benefits based on the recalculation. The bill establishes and provides appropriations to a fund for the payment of these benefits and specifies how the lump-sum payments are treated for tax purposes.

This resolution condemns violence and threats of violence against historically Black colleges and universities (HBCUs) and reaffirms the federal government's commitment to combating violence against HBCU students, faculty, and staff.

Striking Workers Healthcare Protection Act This bill prohibits an employer from terminating or significantly altering the employer-provided health insurance coverage of an employee engaged in a lawful strike. An employer that violates this prohibition is subject to a maximum civil penalty of $50,000 for each violation.

Arbitration Fairness for Consumers Act This bill deems as invalid or unenforceable a predispute arbitration agreement or joint-action waiver related to a consumer financial product or service.

Treatment Family Care Services Act This bill requires the Department of Health and Human Services (HHS) to issue guidance for states about funding and establishing treatment family care services. Treatment family care services are structured daily services and interventions to address mental and behavioral health disorders, medically fragile conditions, or developmental disabilities that, among other criteria, are provided in a home-based setting to children who are less than 21 years old and enrolled in any Medicaid eligibility group. Specifically, HHS must issue guidance on (1) opportunities for states to fund treatment family care services through Medicaid, federal foster care and related programs, or other HHS programs; and (2) best practices for states to establish treatment family care services programs. The bill also requires the Government Accountability Office to assess and report on certain training provided to foster parents and other caregivers, including recommendations for improving state processes related to approval and oversight of the training.

Job Protection Act This bill reduces from 12 months to 90 days the employment period required for employees (including federal employees) to become eligible for family and medical leave. Additionally, the bill makes the family and medical leave requirements applicable to all employers (currently, the requirements apply to employers with 50 or more employees).

No Most Favored Nation Trading with Russia Act This bill withdraws normal trade relations treatment from Russia. Additionally, the bill requires the President to encourage U.S. allies and partners to (1) consider taking similar actions; and (2) condemn, at the World Trade Organization (WTO), Russia's aggression in Ukraine. Further, the President must direct the U.S. Permanent Representative to the WTO to seek suspension of Russia's membership in the WTO.

H-1B and L-1 Visa Reform Act of 2022 This bill modifies requirements related to H-1B (specialty occupation) and L-1 (intracompany transfers) nonimmigrant visas and contains related provisions. Provisions relating to H-1B visas include requiring the Department of Labor to review petitions for indicators of fraud or misrepresentation of material fact; requiring the Department of Homeland Security (DHS) to prioritize certain petitions, with top priority for workers with advanced degrees in science, technology, or engineering; requiring an H-1B worker to possess at minimum a bachelor's degree to meet specialty occupation requirements (currently, relevant experience may be used instead); and prohibiting an alien classifiable in certain H-1B categories from obtaining a B-1 (temporary business visitor) visa. Provisions relating to L-1 visas include requiring a waiver from Labor for an L-1 worker to be primarily stationed with an employer other than the petitioning employer; prohibiting an alien from receiving an L-1 visa to open or be employed in a new office if the alien has received two or more such visas in the last two years; and increasing the L-1 worker minimum wage to the highest of certain amounts, such as the median wage for the worker's occupational classification in the area of employment (currently, an L-1 worker must be paid at least the higher of the federal or state minimum wage). In regards to both visas, the bill (1) expands the authority of DHS and Labor to take various enforcement actions, and (2) directs DHS to conduct annual audits of a certain percentage of employers.