Sen. Adam B. Schiff

Maddy summaryThis bill establishes a new annual wealth tax on individuals with net assets exceeding $50 million, effective in 2027, targeting ultra-wealthy taxpayers by taxing the total value of their taxable assets rather than income. The tax uses a tiered structure with a 0% bracket up to $50 million, a 2% rate between $50 million and $1 billion, and a 3% or 6% rate on assets above $1 billion, with the higher rate applying if a universal health insurance program is enacted. It includes special rules for married couples filing jointly, trusts, and non-resident aliens, while also adding stricter information reporting requirements and increased IRS funding for enforcement.

Maddy summaryThis joint resolution seeks to overturn a rule from the Bureau of Consumer Financial Protection that would have removed certain ability-to-repay requirements for loans made to successors-in-interest, such as family members who inherit a home. The measure directly affects lenders and borrowers by restoring the previous regulations that required financial assessments for these specific loan situations. If enacted, the resolution would nullify the Bureau's proposed changes, keeping the existing regulatory framework in place. The bill is a procedural action that uses Congress's authority to disapprove federal agency rules without creating new policy itself.

Maddy summaryThis bill prohibits federal government officials, including the President, Vice President, Members of Congress, and their employees, from using their official positions to profit from trading prediction market contracts based on material nonpublic information. It requires these covered individuals to report any prediction market transactions exceeding $250 to their supervising ethics office within 30 days, detailing the contract value, timing, platform, and profit or loss. The legislation establishes penalties of up to $500 or double the profit made for violations and mandates ethics offices to create implementation rules and publish procedures within 180 days of enactment.

Maddy summarySJRES 103 is a congressional disapproval resolution targeting a Department of Veterans Affairs (VA) rule on reproductive health services for veterans. The resolution, if passed, would block the VA rule from taking effect by invoking the Congressional Review Act (Chapter 8 of Title 5, U.S. Code), meaning the rule published in the Federal Register (December 31, 2025) would have no legal force. This directly affects the VA’s ability to implement new guidelines for reproductive health services at its facilities, preserving existing policies instead. The resolution does not create new policy but halts a specific administrative rule.

Maddy summaryThe FARM Home Loans Act of 2026 modifies the Farm Credit Act of 1971 to expand financing options for rural homeowners. It allows Farm Credit institutions to provide loans for accessory dwelling units in addition to traditional home improvements. The bill also increases the maximum loan amount for these rural housing projects from $2,500 to $10,000. These changes directly affect rural property owners seeking financing for secondary living spaces on their land. The legislation aims to increase access to home improvement funding in rural markets through existing Farm Credit programs.

Maddy summarySJRES 116 requires the President to remove U.S. military forces from hostilities against Iran that lack a congressional declaration of war or specific statutory authorization. It specifically cites the Trump administration's Operation Epic Fury as an example of unapproved military action, referencing statements from officials calling it a "war." The resolution allows for continued defense of U.S. personnel, intelligence sharing, and support for allies attacked by Iran, but mandates withdrawal of forces engaged in unapproved hostilities. This policy change enforces the constitutional principle that Congress, not the executive, must authorize military conflict.

Maddy summaryThis Senate resolution commemorates Taiwan's 30th anniversary of its first direct presidential election in 1996 and expresses support for Taiwan's democratic institutions. The bill formally acknowledges Taiwan's democratic milestones, including peaceful transfers of power and the protection of civil liberties, while referencing existing U.S. policy frameworks like the Taiwan Relations Act. It states that the Senate regards Taiwan's democracy as a strategic strength and commits to supporting Taiwan's self-defense and the liberty of its people. The resolution clarifies that it does not authorize the use of military force.

Maddy summaryThis bill, titled the Prediction Markets Are Gambling Act, prohibits the listing or trading of contracts related to sports events or casino-style games on regulated financial exchanges. It directly affects companies that operate prediction markets or trading platforms by banning them from offering agreements tied to athletic competitions or traditional casino games like blackjack, roulette, and slot machines. The law defines these prohibited activities clearly and ensures it does not override existing state regulations on gambling. Contracts entered into after the bill becomes effective will fall under this new restriction, while the legislation maintains a neutral stance on the policy change itself.

Maddy summaryThis bill, known as the SHIELD Act, authorizes the Attorney General to provide grants to states, local governments, and organizations to help recruit, train, and retain staff needed to support legal representation for individuals facing immigration removal proceedings. The program would fund workforce development initiatives such as hiring new lawyers and accredited representatives, providing technical training, improving language services, and building administrative infrastructure in areas with high unmet legal needs. Eligible recipients must use funds to supplement existing resources rather than replace them, and they would be required to submit regular reports on how the grants improve access to legal services. The legislation allocates $100 million for fiscal years 2026 and 2027 to support these efforts while maintaining oversight through audits and compliance requirements.

Maddy summaryS 3812, the WORK to Save Lives Act, requires the Occupational Safety and Health Administration (OSHA) to issue guidance for most private employers on acquiring opioid overdose reversal medication and training employees annually, while mandating that all federal agencies (including the Veterans Health Administration) must acquire such medication and provide annual employee training. The bill directly affects federal agencies as mandatory participants and private employers (excluding the U.S. Postal Service) as recipients of non-mandatory guidance. Key provisions include a 270-day deadline for OSHA to issue these rules after the bill’s enactment. The law aims to improve workplace safety by making overdose reversal tools more accessible without imposing direct penalties on private businesses.