Sen. Eric Schmitt

Maddy summaryThis joint resolution seeks congressional disapproval of a Department of Labor rule published in the Federal Register on December 1, 2022 (87 Fed. Reg. 73822), which addressed "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights." If enacted, it would block the rule from taking effect, directly affecting retirement plan fiduciaries (such as those managing 401(k) plans) who must follow these standards. The resolution uses a specific disapproval process under Chapter 8 of Title 5, U.S. Code, to nullify the rule without altering its content. This is a procedural action targeting the rule's implementation, not a new policy.

Maddy summaryS 293, the Fair Access to Banking Act, prohibits large financial institutions (with $10 billion+ in assets) from denying banking services to lawful businesses based on political reasons, bias, or industry category. It requires these "covered banks" to justify service denials using documented, objective risk assessments - not subjective political judgments - and to provide written explanations for denials. The bill directly affects businesses operating legally in industries often targeted by banks (like cannabis or firearms), ensuring equal access to services like loans, credit cards, or payment processing. Violations allow affected businesses to sue for treble damages and attorney fees, with payment networks and credit unions also barred from blocking access based on "reputational risk."

Maddy summaryThe No Budget, No Pay Act requires Congress to pass a budget resolution and all regular spending bills by October 1 each fiscal year. If Congress misses this deadline, Members of Congress (including Senators and Representatives) will not receive pay for the period after October 1 until the budget is approved, and they will not receive retroactive pay for that time. The chairs of the budget and appropriations committees in each chamber will determine compliance and certify the pay suspension period. The law takes effect on September 29, 2025.

Maddy summaryThis bill would allow individuals with valid concealed carry permits from their home state to carry concealed handguns in other states that either permit concealed carry for residents or don't ban it. It requires permit holders to have a government-issued ID, meet federal firearm possession rules, and carry only handguns (excluding machineguns or destructive devices). Carrying would still follow local restrictions in the destination state, such as bans in schools or government buildings. The bill does not change how states issue permits but creates automatic recognition of valid permits across participating states.

Maddy summaryThis bill requires healthcare providers performing abortions to provide the same immediate medical care and hospital admission to any infant born alive during or after the procedure, as they would for any newborn. It mandates reporting of any failure to provide this care to law enforcement and imposes penalties including fines or up to 5 years in prison for violations. Women who undergo abortions may pursue civil lawsuits for damages, including compensation for physical/psychological harm and three times the abortion cost, if providers fail to comply. The law directly affects abortion providers, hospitals, and the women receiving abortion services.

Maddy summaryThe Regulations from the Executive in Need of Scrutiny Act of 2023 would require Congress to approve most major federal regulations before they take effect. Major rules, defined as those with significant economic impact (estimated at $100 million or more annually), would need a joint resolution of approval from both chambers within 70 days. Agencies would be required to submit detailed reports to Congress before rules take effect, including cost-benefit analyses, economic effects, and other relevant information. This would increase congressional oversight of the regulatory process, though it includes exceptions for national security, emergencies, and monetary policy rules.

Maddy summaryThe SHORT Act revises federal firearm regulations to eliminate separate restrictions on short-barreled rifles and shotguns. It redefines shotguns used for sporting purposes to avoid being classified as destructive devices and removes language that previously treated these weapons differently from other firearms. The bill also requires states to recognize federal compliance as meeting state registration requirements for these weapons and preempts state taxes or registration rules on them in interstate commerce. Finally, it mandates the federal government to destroy related ownership records within 365 days of enactment.

Maddy summaryThe PART Act (S 154) requires all new vehicles to have catalytic converters marked with unique VINs using durable, high-visibility stamping (via die/pin stamping and theft-deterrent paint) within 180 days of enactment. It creates a $7 million federal grant program to help dealers, repair shops, law enforcement, and nonprofits mark converters at no cost to vehicle owners, prioritizing high-theft areas. The bill also mandates sellers of catalytic converters to retain buyer identification and vehicle details for two years and adds criminal penalties (up to 5 years in prison) for stealing or trafficking in converters. Directly affecting manufacturers, dealers, repair shops, and sellers, the law targets converter theft through standardized marking, record-keeping, and new criminal offenses.

Maddy summaryThe Educational Choice for Children Act creates tax credits for individuals and corporations that contribute to scholarship organizations providing educational scholarships. Individuals can claim a credit up to 10% of their adjusted gross income or $5,000, while corporations can claim up to 5% of taxable income. Scholarships are available to students in households earning no more than 300% of the area median income and can be used for public or private school expenses, including religious schools. The bill establishes a $10 billion annual cap on total contributions with funds allocated on a first-come, first-served basis, and requires scholarship organizations to verify student income and distribute scholarships to multiple students. It also prohibits government control over scholarship organizations and schools, ensuring maximum freedom for these organizations.

Maddy summaryThis bill prohibits U.S. federal funding for gain-of-function research on certain viruses. It directly affects universities and research institutions that conduct such research, banning new federal grants for them. The law defines gain-of-function research as work that could make influenza, MERS, or SARS viruses more dangerous or contagious in any organism. Federal agencies must stop awarding new grants to institutions performing this specific type of research.