Sen. Raphael G. Warnock

Maddy summaryThis bill requires the Federal Trade Commission (FTC) to study how pharmacy benefit managers (PBMs) and other intermediaries affect prescription drug prices and competition. Specifically, the FTC must report within one year on whether PBMs charge different prices to pharmacies, steer patients toward pharmacies they own, use pharmacy data for profit, or design formularies to favor expensive drugs. The bill also mandates an interim report within six months and a separate study on sole-source drug manufacturers and enforcement challenges. It does not directly change drug prices or create new regulations, but instead seeks to gather data to inform potential future policy actions. The study focuses on transparency and competition in the pharmaceutical supply chain, with no immediate price-reducing mechanisms.

Maddy summaryThis bill, the Tax Cut for Workers Act of 2025, expands the Earned Income Credit (EIC) to make it more accessible and generous for low-income workers without children. It lowers the minimum age for the credit from 25 to 19 (with exceptions for students, former foster youth, and homeless youth), removes the maximum age limit, and increases the credit amount and income thresholds. The bill also adjusts these amounts for inflation and allows taxpayers to use their prior year’s earned income if it was higher, applying to taxable years starting after 2025. These changes extend the credit to U.S. territories like Puerto Rico and American Samoa without prior time limits.

Maddy summaryThe American Family Act creates a new monthly child tax credit that would provide $300 per month for each child under age 6 and $300 per month for each child age 6 and older, with income-based eligibility limits. The credit would be refundable, meaning it could be paid even if a family owes no income tax, and would replace the current annual child tax credit. The bill establishes income thresholds ($150,000 for joint filers) above which the credit begins to phase out, with full phase-out at $400,000 for joint filers. It also includes provisions for "presumptive eligibility" to allow for advance payments based on previous tax returns or government program data. The bill would terminate the existing annual child tax credit after 2024, replacing it with this monthly payment system.

Maddy summaryThe Raise the Wage Act of 2025 gradually increases the federal minimum wage from $9.50 to $17.00 per hour over six years, with future annual increases tied to median wage growth. It eliminates the separate lower minimum wage for tipped workers (currently $2.13/hour base), requiring employers to pay the full minimum wage to all tipped employees starting in 2031. The bill also ends the special $4.25/hour starting wage for workers under 20, phasing it out by 2030. Additionally, it prohibits new special wage certificates for disabled workers under Section 14(c) and requires their phaseout by 2030, while providing transition support for affected employers and workers.

Maddy summaryThis bill increases the maximum percentage of a Real Estate Investment Trust's (REIT) assets that can be held in taxable subsidiary companies from 20% to 25%. It directly affects REITs by allowing them to allocate a larger portion of their investments to these subsidiary entities, which operate under different tax rules. The key provision amends the Internal Revenue Code to change the asset limit percentage, effective for taxable years starting after December 31, 2025. This adjustment provides REITs with slightly more flexibility in structuring their investments.

Maddy summaryThis bill, titled misleadingly as the "Secure Family Futures Act of 2025," actually modifies tax rules for specific insurance companies, not family-related policies. It directly affects "applicable insurance companies" (defined as most domestic insurers not using special tax elections or foreign entities) by: (1) excluding their debt holdings (like bonds) from being counted as capital assets for tax purposes, and (2) allowing capital losses incurred by these companies to be carried forward over 10 years instead of the standard period. These changes apply to debt acquired and losses arising after December 31, 2025. The bill contains no provisions related to families, child welfare, or social programs.

Maddy summaryThis resolution (SRES 159) is a ceremonial Senate measure honoring the late Senator John Bennett Johnston, Jr. (1932-2024), who represented Louisiana in the U.S. Senate from 1972 to 1997. It commemorates his career, including his work on energy policy, flood control, and Louisiana conservation efforts, and requests the Senate adjourn in his memory while sending condolences to his family. As a non-binding resolution, it has no policy impact or direct effect on any individuals or laws.

Maddy summaryThe IDEA Full Funding Act (S 1277) mandates specific annual funding levels for the Individuals with Disabilities Education Act (IDEA) starting in fiscal year 2026. It sets fixed dollar amounts or percentage-based funding (ranging from 11.6% to 40% of a calculated base) for states providing special education services to children with disabilities aged 3-21. Funding becomes available on July 1 each year and remains accessible through September 30 of the following year, with amounts increasing annually through 2035. This directly affects all states receiving IDEA grants by guaranteeing minimum federal funding tied to the number of eligible students and national per-pupil spending averages.

Maddy summaryS 1289 authorizes the U.S. Mint to produce and sell commemorative $5 gold and $1 silver coins to mark the 25th anniversary of the September 11, 2001, terrorist attacks. The bill specifies coin specifications (e.g., 90% gold/silver content, design requirements including "Never Forget"), sets a one-year issuance window (January 1, 2027-2028), and requires surcharges of $35 per gold coin and $10 per silver coin. These surcharges will be paid directly to the National September 11 Memorial and Museum to support its operations and maintenance, with coins sold at a price covering face value, surcharge, and production costs. The legislation does not impose new regulations or affect public policy but focuses on commemoration and funding for the museum.

Maddy summaryThis bill would allow workers to deduct union dues directly from their taxable income (an "above-the-line" deduction) and restore deductions for other work-related expenses like uniforms or tools that were disallowed after 2017. It affects employees who pay union dues or incur job-specific costs, particularly those in unionized workplaces or professions requiring specialized equipment. The key mechanism creates a new deduction for union dues under existing tax code sections and revives the ability to itemize other work expenses, excluding them from the 2% floor on miscellaneous deductions. These changes would apply to tax returns filed for years beginning after December 31, 2024.