TIER Act of 2025 Tailoring and Indexing Enhanced Regulations Act of 2025
Article I Regulatory Budget Act This bill requires the establishment of a federal regulatory budget to limit the costs of federal regulations. It also establishes requirements for disclosing the projected costs of federal regulations and procedures for enforcing the regulatory budget.
Federal Reserve Transparency Act of 2023 This bill establishes requirements regarding audits of certain financial agencies performed by the Government Accountability Office (GAO). Specifically, the bill directs the GAO to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.
FairTax Act of 2023 This bill imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income taxes, payroll taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2025, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property; for property or services purchased for business, export, or investment purposes; and for state government functions. Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines. The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury. Tax revenues are to be allocated among (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund. No funding is authorized for the operations of the Internal Revenue Service after FY2027. Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this bill.
All Economic Regulations are Transparent Act of 2023 or the ALERT Act of 2023 This bill establishes various reporting requirements with respect to federal agency rulemaking. Specifically, each agency must submit a monthly report to the Office of Information and Regulatory Affairs (OIRA) for each rule the agency expects to propose or finalize during the following year, including information about the objectives and legal basis for the rule as well as whether the rule is subject to periodic review based on its significant economic impact. Additionally, each agency must submit a monthly report for any rule expected to be finalized during the following year for which the agency has issued a general notice of proposed rulemaking, including an approximate schedule for completing action on the rule and an estimate of its cost and economic effects. OIRA must publish this information online and, subject to certain exceptions, a rule may not take effect until the information has been published for at least six months. The bill also requires OIRA to annually publish in the Federal Register specified information it receives from agencies under this bill, including a list of each rule an agency has proposed and the total cost of all rules proposed or finalized. OIRA must further publish online (1) any analysis of the costs or benefits of rules that were proposed or finalized during the previous year, and (2) a list of rules that were subjected to various forms of review during the previous year.
Cover Outstanding Vulnerable Expansion-eligible Residents Now Act or the COVER Now Act This bill establishes a demonstration program to allow local governments to provide health benefits to the Medicaid expansion population in states that have not expanded Medicaid. Under the program, local governments may provide coverage for individuals who are newly eligible for Medicaid under the Patient Protection and Affordable Care Act (i.e., the Medicaid expansion population) for a maximum of 10 years, or until their respective states expand Medicaid. The bill provides a 100% federal matching rate for the first three years of program participation. The bill prohibits states from taking certain actions against participating localities, such as withholding funding, increasing taxes, or restricting provider participation. States that violate these requirements are subject to certain funding penalties.
Private Student Loan Bankruptcy Fairness Act of 2023 This bill modifies the treatment of certain student loans in bankruptcy. Specifically, it allows private student loans to be discharged in bankruptcy regardless of whether a debtor demonstrates undue hardship. Under current law, student loans may be discharged in bankruptcy only if the loans impose an undue hardship on the debtor.
Post-Disaster Assistance Online Accountability Act This bill establishes a centralized location to publish information on disaster assistance provided by federal agencies. The Small Business Administration, the Department of Housing and Urban Development, and any agencies providing disaster assistance must make available to the public on a quarterly basis information regarding (1) the total amount of assistance provided by the agency; (2) the amount provided that was expended or obligated; and (3) all projects or activities for which assistance was expended, obligated, or used.
Washington, D.C. Admission Act This bill provides for the admission of the state of Washington, Douglass Commonwealth into the United States. The commonwealth consists of all the territory of the District of Columbia (DC), excluding certain federal property. The excluded property shall be known as the Capital and serve as the seat of federal government; it includes the principal federal monuments, the White House, the Capitol Building, the Supreme Court Building, and the federal office buildings located adjacent to the Mall and Capitol Building. In addition, the bill maintains the federal government's authority over military lands and specified other property and prohibits the commonwealth from taxing federal property except as permitted by Congress. Within 30 days of this bill's enactment, the DC mayor must call for the election of two Senators and one Representative for the commonwealth. The commonwealth shall be admitted into the United States upon a presidential proclamation announcing the results of that election. The bill applies current DC laws to the commonwealth and continues pending judicial proceedings. It also continues certain federal authorities and responsibilities, including regarding employee benefits, agencies, and courts, until the commonwealth certifies that it is prepared to take over those authorities and responsibilities. Further, the bill provides for expedited consideration of a joint resolution to repeal the Twenty-third Amendment to the Constitution (which allows DC citizens to vote in presidential elections). The bill also establishes a commission to advise the President, Congress, and DC and commonwealth leaders on the transition.
Working to Advance Tangible and Effective Reforms for California Act or the WATER for California Act This bill addresses the operation of the Central Valley Project (CVP), a federal water project in California owned and operated by the Bureau of Reclamation, and the California State Water Project (SWP), which is operated jointly with the CVP. Specifically, the bill requires that Reclamation operate the CVP and SWP pursuant to a specified alternative to a proposed action in a final environmental impact statement and 2019 agency published Biological Opinions (BiOps). The bill also requires Reclamation and the Department of Commerce to submit a justification to Congress that meets certain requirements prior to requesting or completing a reinitiation of consultation that will result in new BiOps. This bill also requires Reclamation to allocate water to existing agricultural water service contractors within the CVP's Sacramento River Watershed based on the water year type (e.g., dry, wet). These allocations must not affect the United States' ability or obligations to deliver water under other designated contracts. Further, the bill repeals certain eligibility requirements for water infrastructure construction funding under the Infrastructure Investment and Jobs Act to make the Shasta Dam and Reservoir Enlargement Project in California eligible for funding. The bill also requires that Reclamation funds made available but not used for this project in previous appropriations years be made available to the project. Finally, the bill reauthorizes Reclamation's support for the construction or expansion of water storage projects.