Sen. David McCormick

Maddy summaryThis bill amends SEC reporting rules for investment companies (like mutual funds) by allowing them to exclude fees related to investments in business development companies (BDCs) from their "acquired fund fees and expenses" calculations. It directly affects investment companies filing registration statements with the SEC, simplifying their fee disclosures. BDCs are a specific type of investment vehicle that often supports small businesses, but this bill does not change BDC operations or directly provide new capital access for small businesses. The change only modifies how investment companies report certain fees in their registration documents.

Maddy summaryS 1822 (SAFE FOOD Act of 2025) is a study bill requiring the Secretary of Agriculture to examine consolidating U.S. food safety agencies (including the Food Safety and Inspection Service, FDA, and CDC) into a single agency. The bill mandates a 60-day study and a one-year report to Congress with findings and recommendations, but it does not create new regulations or change current oversight. This bill directly affects federal agencies responsible for food safety but has no immediate policy impact. It is purely procedural, focusing on gathering information rather than implementing new laws.

Maddy summaryThis bill requires Medicare Advantage plans to implement electronic prior authorization systems by 2028 and report detailed transparency data starting in 2027. Plans must publicly disclose approval/denial rates, average processing times (including for appeals), technology use, and other metrics for covered medical services. It mandates 24-hour response standards for expedited requests and routinely approved services, with data collection to analyze access patterns and potential disparities in rural/low-income communities. These changes directly affect Medicare Advantage plans, providers, and seniors enrolled in these plans by standardizing and increasing visibility into prior authorization processes.

Maddy summaryThis bill expands benefits for public safety officers (like police and firefighters) who develop certain cancers linked to their work. It creates a presumption that specific cancers - such as lung, bladder, or mesothelioma - were caused by job-related exposure to carcinogens, if the officer served at least 5 years, was diagnosed within 15 years of leaving active duty, and the cancer caused death or permanent disability. The list of covered cancers will be updated every 3 years based on medical evidence from agencies like the National Institute for Occupational Safety and Health. Claims must be filed within 3 years of the bill’s enactment, applying to cases involving deaths or disabilities occurring after January 1, 2020.

Maddy summaryS 1806, the Business Owners Protection Act of 2025, terminates certain discretionary powers held by the Securities and Exchange Commission (SEC) that were created under the Dodd-Frank Act but never implemented. Specifically, it ends SEC authority to impose new requirements on private businesses if the Commission hadn’t proposed rules or issued guidance on those requirements by January 1, 2025. This affects businesses that might have faced new SEC rules but avoids future regulatory burdens from unused authority. The SEC must publicly list all terminated authorities within 180 days of the bill’s enactment.

Maddy summaryThe CARGO Act of 2025 prohibits the National Institutes of Health (NIH) from funding any research involving live animals conducted outside the United States. It amends the Public Health Service Act to ban NIH grants, contracts, or other support for such research, affecting foreign organizations currently receiving NIH funding for animal studies. The bill directly impacts NIH grantees operating internationally, requiring all animal research funded by the U.S. government to occur within U.S. borders, including states and territories. This policy change aims to address concerns about inadequate oversight of animal welfare in foreign labs, where NIH previously provided about $2.2 billion for such research from 2011-2021.

Maddy summaryThis bill requires the U.S. Commerce Department to add China's Ministry of Public Security's Institute of Forensic Science (including its aliases) to the entity list within 60 days of enactment, restricting U.S. exports to it. The measure directly affects this Chinese government entity, which is alleged to be involved in human rights abuses against Uyghurs and other Muslim minorities in Xinjiang. The law includes a waiver provision allowing the President to exempt the entity if certified it isn't engaging in activities contrary to U.S. foreign policy or contributing to repression, forced labor, or surveillance in Xinjiang. The entity list is a Commerce Department sanctions tool that blocks U.S. technology and materials from being supplied to designated organizations.

Maddy summaryS 1778, the Countering Chinese Espionage Reporting Act, requires the U.S. Department of Justice (DOJ) to submit annual reports to Congress and publish them publicly for seven years. These reports must detail DOJ efforts to counter Chinese espionage threats - including intellectual property theft and risks from researchers at universities or defense facilities - and track resources dedicated to these programs. The reports must also describe how civil rights, liberties, and privacy protections are maintained during these activities. This bill does not change existing laws but mandates transparency about current DOJ counter-espionage operations.

Maddy summaryThis bill (S 1779, the LOCOMOTIVES Act) amends the Clean Air Act to prevent states from setting their own emissions standards for locomotives and engines used in locomotives. It specifically removes exemptions for smaller nonroad engines and clarifies that all locomotives engaged in commercial railroad transportation (as defined by federal law) fall under federal emissions regulations, not state rules. The key provision eliminates state authority over emissions standards for locomotives used in commerce, making federal EPA regulations the exclusive standard. This directly affects railroad companies operating locomotives and the Environmental Protection Agency, which would enforce the uniform federal standards.

Maddy summaryThis bill directs the USDA to build modular facilities for rearing sterile New World screwworm flies within 180 days of enactment. It requires these facilities to disperse sterile flies into areas at risk of infestation due to migratory patterns, primarily protecting livestock producers in vulnerable agricultural regions. The bill authorizes $300 million for construction and operation, with annual reports to Congress on threat assessments and program effectiveness. The law targets a specific pest threat to U.S. agriculture, focusing on proactive prevention rather than reactive measures.