Sen. Todd Young

Middle-Class Savings and Investment Act This bill provides tax incentives for savings and investment for middle-income taxpayers. Specifically, it (1) increases the current tax bracket for capital gains and dividends; (2) allows an exclusion from gross income for up to $300 of interest income received by a taxpayer; (3) increases the threshold for the net investment tax for married couples filing jointly to $400,000, adjusted for inflation (thus eliminating the tax effect known as the marriage penalty); and (4) increases the maximum contribution amount and the rate of the saver's tax credit. As an offset to the cost of these incentives, the bill extends through 2028 the limitation on the deduction for state and local taxes.

Safe Schools Act This bill allows state and local educational agencies to use certain COVID-19 emergency relief funds to carry out school security measures (e.g., trainings and security assessments).

Stop Gun Criminals Act This bill increases the term of imprisonment for certain offenses involving firearms, particularly those that are committed by repeat offenders.

This resolution recognizes that increased tensions between the United States and China and the COVID-19 pandemic have exposed severe vulnerabilities attributable to overreliance by the United States and other countries on supply chains based solely or mainly in China. The resolution emphasizes that nearshoring in Latin America and the Caribbean, relative to relying on supply chains in other geographic regions, has the greatest potential to contribute to the economic prosperity and security of the United States while also advancing the post-pandemic economic recovery of countries in the Western Hemisphere. Nearshoring is the practice of transferring a business operation to a nearby country, especially in preference to a more distant one. The resolution encourages the U.S. Agency for International Development and the U.S. International Development Finance Corporation to strengthen programmatic support for initiatives likely to facilitate the relocation of global supply chains to the Western Hemisphere. The resolution also calls for governments in Latin America and the Caribbean to increase opportunities for nearshoring in the region. Finally, the resolution urges the Department of State to take a leading role in advancing nearshoring in Latin America and the Caribbean.

United States Army Rangers Veterans of World War II Congressional Gold Medal Act This bill provides for the award of a single Congressional Gold Medal to the U.S. Army Rangers Veterans of World War II in recognition of their dedicated service during World War II.

This resolution designates June 6, 2022, as National CASA/GAL Volunteers Day to commend the work of court-appointed special advocate (CASA) and guardian ad litem (GAL) volunteers.

This resolution expresses gratitude to Qatar for its support for Operation Allies Refuge, which evacuated U.S. citizens, U.S. permanent residents, allies, and partners from Afghanistan.

Strengthening Cybersecurity for Medical Devices Act This bill requires the Food and Drug Administration to regularly update its industry guidance and information for the public relating to the cybersecurity of medical devices. The Government Accountability Office must also report on cybersecurity challenges for medical devices, including older devices that may not support software updates.

Emergency Savings Act of 2022 This bill permits employer-sponsored retirement plans to offer participants a pension-linked emergency savings account (1) with a maximum account limit of $2,500, and (2) from which withdrawals are not subject to a tax penalty.

Maddy summarySRES 643 is a Senate resolution designating the week of May 15-21, 2022, as "National Police Week" to honor law enforcement officers who serve and sacrifice in their communities. The resolution recognizes the service of law enforcement officers, particularly those killed or injured in the line of duty, and acknowledges their sacrifices during the COVID-19 pandemic. It expresses support for officers' needs for proper equipment, training, and resources, and encourages the public to observe the week by honoring law enforcement personnel. This designation serves as a formal recognition of law enforcement service without creating new legal requirements or policy changes.