The Charitable Deductions for Digital Asset Donations Act allows taxpayers to deduct the fair market value of widely traded digital assets when donated to qualified charities, removing the current requirement to obtain a formal appraisal for these contributions. To qualify, a digital asset must be fungible, have readily available market quotations, a market capitalization exceeding $500 million, and not be owned by more than 10% of the taxpayer or related parties. The bill also establishes specific definitions for wrapped and tokenized assets while giving the IRS authority to exclude assets lacking reliable price discovery or at risk of manipulation. These changes will take effect for taxable years beginning after December 31, 2026, with the $500 million threshold subject to inflation adjustments in subsequent years.
This bill provides funding for the Departments of Transportation, Housing and Urban Development, and related agencies for fiscal year 2027. It allocates money to support transportation infrastructure projects, including grants for highways, airports, rail systems, and transit, as well as funding for aviation safety and maritime security. The legislation also directs resources to housing programs such as tenant-based rental assistance, public housing operations, and grants for community development and homeless assistance. Additionally, the bill includes provisions for administrative expenses, cybersecurity initiatives, and specific restrictions on how funds can be used across these departments.
This resolution is a procedural measure that sets the rules for debating and voting on four separate pieces of legislation related to government oversight and budgeting. It allows the House to consider bills that would create new fraud prevention units within the Treasury, establish a permanent inspector general for fraud, and authorize pausing government payments to verify eligibility. Additionally, it facilitates the consideration of a resolution condemning fraud and a bill to enable budget reconciliation. By waiving certain procedural objections, the resolution streamlines the legislative process for these specific items.
The Digital Opportunity Foundation Act of 2026 establishes a new nonprofit organization called the Foundation for Digital Opportunity to help communities with low broadband adoption rates gain access to technology and digital skills training. The bill directs the Department of Commerce to create a temporary committee that will set up the foundation's leadership board and ensure it qualifies for tax-exempt status. Once established, the foundation will raise funds from private and public sources to award grants for projects that promote digital literacy, support emerging technologies like artificial intelligence, and improve internet access for underserved populations. The foundation is governed by a diverse board of directors and an executive director, and it must submit regular reports to Congress while operating independently from the federal government.
The Federal Fraud Prevention Workforce Training Act establishes a government-wide training program for federal employees to prevent fraud and improper payments in federal programs. This program mandates that federal employees in key oversight roles, such as program administrators, financial managers, and grants managers, complete the training within 180 days of their appointment and every two years thereafter. The curriculum will cover identifying fraud risks, using various antifraud resources and systems, and implementing internal controls to safeguard federal funds. Additionally, the training will be made available to State, local, and Tribal government employees who manage federally funded programs, with agencies having the option to require completion as a grant condition.
This bill proposes to temporarily increase the tax-free profit limit when seniors sell their primary homes between 2027 and 2030. Under the new rules, unmarried seniors aged 65 or older could exclude up to $1 million of gains, while married couples filing jointly could exclude up to $2 million if at least one spouse is 65 or older. To qualify for this benefit, the home must have been owned and used as a principal residence for at least 25 years prior to the sale.
This bill, known as the PAR Act, updates the Internal Revenue Code to provide clearer tax rules for digital assets, specifically targeting lenders, dealers, traders, and investors. It primarily affects individuals and businesses involved in lending traded digital assets, dealers and traders of widely traded digital assets, and taxpayers engaging in digital asset trading activities. A key provision requires lenders to report transfers of traded digital assets similarly to how they report securities, while also allowing dealers and traders to elect a "mark-to-market" accounting method to calculate gains and losses on these assets. The legislation further establishes a safe harbor for digital asset trading and defines specific terms such as "widely traded digital asset" based on market capitalization and liquidity thresholds. Finally, the bill includes definitions for various digital asset types, including stablecoins, and clarifies that these rules do not determine whether a digital asset is legally classified as a security or commodity.
This bill, titled the Medicaid Financing Clarification Act of 2026, aims to clarify federal rules regarding how states and local governments can fund their Medicaid programs. It directly affects state and local officials by explicitly defining "public funds" to include various local revenue sources such as taxes, fees, and tobacco settlement money. The legislation amends the Social Security Act to ensure that money held by local entities like counties or cities counts as eligible public funding for Medicaid matching purposes. Additionally, it provides clear definitions for terms like "political subdivision" and "public agency" to remove ambiguity in existing laws. By updating these definitions, the bill seeks to establish a clearer legal framework for how local governments contribute to Medicaid financing.
HR 9141, titled the SAVE America Through REAL ID Act, establishes a federal grant program to help states eliminate fees for low-income individuals seeking REAL ID-compliant driver's licenses or identification cards. The legislation defines low-income individuals as those earning at or below 200 percent of the federal poverty level or participating in means-tested assistance programs. Funds allocated to states can be used to waive application fees, cover administrative costs, conduct public outreach, and provide mobile services in underserved areas. To receive these funds, states must submit detailed plans outlining how they will identify eligible applicants and ensure privacy compliance, while the Department of Homeland Security will distribute money based on population need and require annual reporting on program usage. The bill authorizes $50 million annually for fiscal years 2027 through 2031 to support these efforts.
The Gig Is Up Act requires large companies with over $100 million in annual revenue and at least 10,000 independent contractors to withhold taxes from payments made to these workers. This provision treats the earnings of these specific contractors as wages for Social Security purposes, effectively doubling the employer's portion of the tax on their behalf. The law applies to payments made after December 31, 2026, and includes rules for grouping related businesses together to determine if they meet the size thresholds.