Rep. Thomas R. Suozzi

Maddy summaryThe Small Business and Consumer Credit Act of 2026 changes how certain financial institutions can use tax losses to offset future profits. It allows these banks to carry forward net operating losses for up to 20 years, with additional rules allowing them to carry losses back to previous years starting in 2028. The law specifically applies to independent banks and certain affiliated groups, requiring them to make an irrevocable election on their tax returns to use these new provisions.

Maddy summaryThis joint resolution expresses Congress's disapproval of a specific federal rule issued by the Centers for Medicare & Medicaid Services regarding the Affordable Care Act and the Basic Health Program for 2027. If passed, the measure would legally nullify the rule, preventing it from taking effect. The bill directly impacts the administration of healthcare benefits and payment parameters for the upcoming year by rejecting the proposed guidelines.

Maddy summaryThis resolution honors the life, military service, and congressional career of the late Representative Charles Bernard Rangel, specifically recognizing his contributions to the alliance between the United States and South Korea. The measure formally acknowledges his bravery during the Korean War, noting his Purple Heart and Bronze Star Medal awards for leading soldiers out of an encirclement, and highlights his decades of work strengthening U.S.-South Korea ties through trade policy and veteran advocacy. Additionally, the text expresses gratitude for a similar resolution passed by the South Korean National Assembly and reaffirms the House's commitment to honoring Korean War veterans and the enduring bilateral relationship.

Maddy summaryThis bill establishes the Foreign Investment Review Authority (FIRA), a new independent agency tasked with monitoring and enforcing foreign investment commitments made by other countries to the United States. FIRA would be led by a board of directors and an ethics officer, with oversight from a public board appointed by congressional leaders, to review investments and ensure they provide specific economic benefits such as creating quality jobs and sourcing materials domestically. The legislation requires investors to submit detailed notices and quarterly updates, while FIRA has the power to mediate terms or prohibit investments that fail to meet strict criteria regarding economic impact and ethical compliance. Additionally, the bill mandates regular public and congressional reporting on investment progress and creates a formal process for appealing FIRA's decisions in federal court.

Maddy summaryThis bill establishes Temporary Protected Status for Iranian nationals currently in the United States who are unable to safely return home due to ongoing armed conflict and human rights abuses, while also addressing legal hardships caused by a government-imposed pause on processing their immigration applications. It defines eligible individuals as those lawfully present in the U.S. since December 2025 who have pending applications for status changes or work authorization that were delayed by this pause, excluding government officials or those with ties to the Iranian regime. Under the legislation, the Department of Homeland Security must grant these individuals temporary legal status and work authorization for an initial 18-month period, with automatic extensions if the processing delay continues, ensuring they do not accrue unlawful presence or face penalties for the government-caused backlog.

Maddy summaryHR 5408, the Faster Labor Contracts Act, requires employers to begin negotiating a first contract with a newly certified union within 10 days of written request. If no agreement is reached within 90 days, the parties must seek mediation, and if unresolved after 30 days of mediation, the dispute moves to binding arbitration by a three-member panel. The arbitration decision, based on factors like employer finances, industry standards, and cost of living, becomes binding for two years. This bill directly affects newly certified unions and their employers during initial contract negotiations, aiming to reduce delays that currently average 465 days.

Maddy summaryH.R. 1350 is a non-binding resolution that expresses the House of Representatives' support for creating a National Day of Honor and Respect alongside Constitution Day and Citizenship Day. The bill aims to honor immigrants and diverse backgrounds while encouraging positive interactions among citizens and reducing hate and discrimination. It also affirms the importance of promoting civic education and public service across the nation.

United States Commission on International Religious Freedom Reauthorization Act of 2026 This bill reauthorizes the U.S. Commission on International Religious Freedom through 2028. The commission is an independent federal commission tasked with monitoring international religious freedom conditions, reviewing U.S. government policy, and making policy recommendations. (Under current law, the commission is authorized through FY2026.)

Maddy summaryThis bill establishes a bipartisan Commission on Long-Term Social Security Solvency to study and propose solutions for ensuring the financial stability of Social Security for at least 75 years. The 13-member commission includes appointments from the President, congressional leaders, and committee chairs, with at least half of the congressional appointees required to be non-political experts. After holding public hearings and gathering data, the commission must submit a report with specific legislative recommendations, which Congress is then required to expedite and vote on without amendments. The commission is authorized up to $2 million in funding and will dissolve shortly after submitting its final report.

Maddy summaryThis bill directs the U.S. Secretary of State to determine within one year whether the Chinese government's actions against Tibetans constitute genocide or crimes against humanity. The assessment must evaluate specific factors such as forced displacement, cultural suppression, and the removal of children from their families, while consulting with human rights experts and advocacy groups. If the determination is positive, the report will include evidence and recommendations for potential U.S. policy responses, including sanctions. The findings will be submitted to the Senate Foreign Relations and House Foreign Affairs committees in an unclassified format.