Sen. Tim Scott

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 summaryS 505, the "Protect Small Businesses from Excessive Paperwork Act of 2025," extends the filing deadline for certain small businesses already subject to federal reporting requirements. It modifies a provision in 31 U.S. Code by changing the deadline from "before January 1, 2024" to "not later than January 1, 2026." This directly affects small businesses that must submit specific reports under existing law, giving them an additional two years to comply. The bill aims to reduce administrative burden by delaying the filing obligation.

Maddy summarySRES 64 is a Senate resolution honoring the 67 victims of a mid-air collision between American Airlines Flight 5342 and a U.S. Army aircraft near Washington, D.C., on January 29, 2025. It directly affects the families, friends, and communities of the victims, who were from multiple U.S. states and several countries. The resolution formally commemorates the lives lost, offers condolences to grieving families, and expresses gratitude to the 42 emergency response agencies that assisted in rescue and recovery efforts. As a commemorative resolution, it has no policy or legal effect beyond expressing collective mourning and recognition.

Maddy summaryThis bill permanently extends the New Markets Tax Credit (NMTC) program, which incentivizes private investment in low-income communities. It modifies the tax code to keep the credit available beyond 2025 (replacing "2020 through 2025" with "2020 and each calendar year thereafter") and adds automatic annual inflation adjustments to the credit amount starting in 2026. The bill also provides tax relief by allowing NMTC credits to offset the alternative minimum tax, specifically for investments made after December 2024. This directly affects community development financial institutions (CDFIs) and investors who fund projects in designated low-income areas.

Maddy summaryS 481, the "Securing our Border Act," directs funding to enhance border security by requiring 100% scanning of vehicles at all southern border ports by 2034 using nonintrusive inspection systems, and allocates funds for constructing a border wall along the southwest U.S. border. It also creates new bonus programs for U.S. Customs and Border Protection agents, including up to $15,000 for recruitment, retention bonuses up to 15% of pay, and relocation bonuses up to 15% of annual pay. The bill amends immigration procedures to require returning migrants from neighboring countries to contiguous territory or processing asylum claims, rather than immediate release. These provisions directly affect CBP operations, border patrol staffing, and migrants crossing the southern border, with specific deadlines and reporting requirements for funding use.

Maddy summaryThe CHOICE Act creates three education choice programs. It expands DC's scholarship program to allow low-income students to use funds for public or private schools, with specific enrollment requirements. It establishes a parent option program under IDEA, permitting parents of children with disabilities to use public funds for private school education while requiring schools to meet accreditation standards and prohibiting discrimination (with religious exemptions). It also creates a 5-year military scholarship pilot program providing up to $8,000 annually for elementary students and $12,000 for secondary students to attend schools of their parents' choice, with specific eligibility requirements for military dependents living on installations that don't already offer full school options.

Maddy summarySRES 58 authorizes the Senate Committee on Banking, Housing, and Urban Affairs to spend up to $5.1 million (March-September 2025), $8.8 million (October 2025-September 2026), and $3.7 million (October 2026-February 2027) from the Senate's operating funds for its operations. The funds cover committee staff salaries, consultant services (with annual caps of $11,666, $20,000, and $8,334), and staff training (with caps of $875, $1,500, and $625). The resolution also streamlines payments for routine expenses like telecommunications and stationery without requiring formal vouchers. This procedural resolution solely affects the committee's internal budgeting and does not create new laws or impact the public.

Maddy summaryThis bill amends federal securities laws to expand regulatory exemptions for retirement plans used by charities and educational institutions. It specifically updates definitions to include 403(b) plans (common for nonprofit employees) under exemptions from certain registration and oversight rules, provided they meet three conditions: (1) they follow federal retirement law (ERISA), (2) the employer acts as a fiduciary for investment choices, or (3) they are governmental plans. This change directly affects employees of qualifying charities and educational institutions who participate in these 403(b) plans, reducing compliance burdens for their retirement plans. The policy change streamlines regulatory requirements without altering retirement benefits or funding.

Maddy summaryThe GENIUS Act of 2025 establishes a regulatory framework for payment stablecoins in the United States, requiring that only "permitted payment stablecoin issuers" (including bank subsidiaries, federally approved nonbank entities, and state-approved issuers) may issue stablecoins. The bill mandates that these issuers maintain 1:1 reserves backed by specific assets like U.S. currency, Treasury securities, or money market funds, and requires monthly public disclosure of reserve composition. It creates federal oversight by the Comptroller, Federal Reserve, FDIC, and NCUA, while allowing states to regulate smaller stablecoin issuers (under $10 billion market cap) if their rules are substantially similar to federal standards. The act also clarifies that payment stablecoins are not securities or commodities and gives holders priority in insolvency proceedings.

Maddy summaryThe Fair Access to Banking Act (S 401) prohibits large financial institutions ($10 billion+ in assets) and payment networks from denying services to lawful businesses based on political or reputational factors, such as the type of legal business they operate. It requires banks to justify denials using objective, risk-based standards instead of category-based decisions, and mandates written explanations for denials. The law enables lawsuits against violators with treble damages and civil penalties up to 10% of service value (capped at $10,000 per violation). It directly affects major banks, payment processors, and credit unions that serve large-scale customers, ensuring fair access for businesses operating within federal law.