Sen. Pete Ricketts

Maddy summaryThis bill proposes a constitutional amendment that would limit Members of Congress to a maximum of three terms in the House of Representatives and two terms in the Senate. It specifies that filling a vacancy for more than one year in the House or more than three years in the Senate counts toward these term limits. The amendment would not apply to terms served before its ratification. If approved by three-fourths of state legislatures within seven years, it would change how long representatives and senators could serve. This is a proposed constitutional change, not current law.

Maddy summaryThis bill raises the reporting threshold for payment platforms like PayPal or Venmo. It requires these platforms to report transaction data only if a business receives over $20,000 in payments across more than 200 transactions in a year. This change directly affects payment processors and their business users by reducing the volume of transactions they must report to the IRS.