This bill expands tax exclusions for homeowners by adding water conservation, storm water management, and wastewater management rebates to the existing tax-free treatment for energy efficiency subsidies. It directly affects residents receiving rebates from public utilities, local governments, or storm water providers for qualifying installations like low-flow fixtures, rain barrels, or septic system upgrades (with wastewater rebates limited to principal residences). Key provisions redefine "water conservation measure" and "storm water management measure" to clarify eligible upgrades and explicitly include water utilities and storm water providers under tax-exclusion rules. The changes apply to rebates received after December 31, 2021, without altering tax treatment for prior rebates.
This bill, S 869 (Federal Reserve Board Abolition Act), would abolish the Federal Reserve Board and all Federal Reserve banks one year after enactment, repealing the Federal Reserve Act. It directs the Federal Reserve Chairman to manage employee payments and assets during a one-year winding-down period, after which the Office of Management and Budget would sell off assets and transfer net proceeds to the Treasury. The Secretary of the Treasury would assume all remaining Federal Reserve liabilities, including employee benefits, using funds from the asset sales. The bill directly affects the Federal Reserve System, its employees, and the Treasury Department, with no new policy mechanisms beyond the transition process.
This bill amends the Navajo-Gallup Water Supply Project to expand water delivery to additional Navajo Nation communities in New Mexico and Arizona, and to the Jicarilla Apache Nation. It establishes a Deferred Construction Fund to manage costs for project facilities that may be deferred, with specific rules for how these funds can be used. The bill increases authorized funding to $2.175 billion through fiscal year 2029 and updates tax rules for project facilities, clarifying that construction, operation, and maintenance on trust land will be subject to Navajo Nation taxation. It also modifies trust funds related to water rights and operations, including a new deadline for funding deposits. The primary beneficiaries are Navajo Nation and Jicarilla Apache Nation communities that will gain access to the expanded water supply.
HR 1871, the Water Conservation Rebate Tax Parity Act, changes federal tax rules to allow homeowners to exclude certain water-related rebates from taxable income. It expands the existing tax exclusion to cover rebates for water conservation measures (like efficient fixtures), storm water management (such as rain gardens), and wastewater management (like septic system upgrades), but only for the homeowner's principal residence. These rebates must come from public utilities, storm water providers, or state/local governments. The changes apply to rebates received after December 31, 2021, and do not affect tax treatment for rebates received before 2022.
This bill modifies tax reporting rules for gig economy platforms (like Uber or DoorDash) by reinstating a pre-American Rescue Plan threshold. It requires third-party payment platforms to report income to the IRS only if a gig worker earns over $20,000 in a year or completes more than 200 transactions. This directly affects low-earning gig workers who would no longer receive tax forms for smaller earnings. The change simplifies reporting for platforms and reduces administrative burden on workers with minimal income from these platforms.
This joint resolution nullifies the final rule issued by the National Park Service titled Glen Canyon National Recreation Area; Motor Vehicles and published on January 13, 2025. The rule modified regulations concerning the Glen Canyon National Recreation Area, which is located in northern Arizona and southeastern Utah. For example, the rule limited the use of off-road vehicles, such as off-highway vehicles and all-terrain vehicles, in certain areas.
The EPIC Act of 2025 extends the required time period for negotiating drug prices under the federal program for biologic drugs. It changes the rule so that biologic drug manufacturers must wait at least 11 years after FDA approval before their drug can be included in price negotiations, starting with the 2028 initial price applicability year. This specifically affects biologic drug manufacturers, as the change applies only to biologics (not small-molecule drugs, which already have different rules). The bill modifies Section 1192(e)(1)(A)(ii) of the Social Security Act to implement this longer waiting period. This is a concrete policy change to the timing of drug price negotiations, not a new program or broader policy shift.
This bill directs the U.S. Ambassador to the United Nations to negotiate a supplemental agreement to the existing UN Headquarters Agreement. The goal is to prohibit the United Nations from hosting, leasing, or allowing the use of its U.S. facilities (specifically in New York City) for the International Criminal Court (ICC). The bill does not alter U.S. law or ICC jurisdiction but targets the ICC's current physical presence at UN headquarters. It would require the U.S. to seek this change within 30 days after the 80th UN General Assembly session begins.
This bill increases tax benefits for working families by expanding child care tax credits. It raises the employer-provided child care credit from 25% to 50% of qualified expenses (with the maximum credit increasing from $150,000 to $500,000), and adds a new refundable household care credit allowing up to 50% of eligible expenses (capped at $5,000 for one child or $8,000 for two+ children). Small businesses receive enhanced benefits, with a 60% credit rate and higher maximum ($600,000) for qualifying employers. The changes directly affect working parents, caregivers, and small businesses that provide or support child care.
This bill adds a new tax provision (Section 139J) to the Internal Revenue Code, excluding interest income from certain rural and agricultural loans from taxable income for qualifying lenders. It directly affects banks, insurance companies, and farm credit entities that provide loans secured by rural or agricultural property (including qualifying single-family homes in rural areas), while excluding loans to foreign adversary entities (like those linked to China, Russia, or Iran). The law requires lenders to report on how this tax exclusion impacts loan interest rates, with a Treasury report due to Congress within five years. The policy change aims to reduce lenders' tax burden on these specific loans, potentially lowering costs for borrowers in rural communities.
The GOOD Act requires federal agencies to publish all non-binding guidance documents - such as memos, notices, and blog posts - in a single, centralized online location. Agencies must post existing guidance within 180 days of the law's enactment and new guidance on the day it is issued, with rescinded documents kept online and clearly marked as such. Documents exempt from public disclosure under the Freedom of Information Act are excluded from this requirement. This aims to improve public access to agency guidance while maintaining transparency for non-binding communications.
HRES 153 is a ceremonial resolution expressing condolences to the families and loved ones of the 67 victims who died in two aviation incidents: American Eagle Flight 5342 and U.S. Army flight PAT 25, which crashed near Washington, D.C.'s Reagan National Airport on January 29, 2025. It specifically honors the victims - many connected to Wichita, Kansas (known as the "Air Capital of the World") - and extends sympathies to affected communities including Wichita, Kansas, and the National Capital Region. The resolution also commends first responders who aided in the recovery efforts. As a non-binding expression of sympathy with no policy changes, it does not affect laws or regulations.
