Raising Expectations with Child Opportunity Vouchers for Educational Recovery Act or the RECOVER Act This bill directs local educational agencies to use certain federal COVID-19 relief funds to address student learning loss by distributing direct financial assistance (i.e., Child Opportunity Scholarships) to the parent or guardian of an eligible student for certain qualified educational expenses (e.g., educational materials, tutoring, or private school tuition). Eligible student refers to a child who is a member of a household with an income that is not more than 300% of the federal poverty level.
This bill excludes certain persons from being considered a broker for tax reporting purposes. Under current law, the transfer of digital assets from a broker to a nonbroker requires the broker to file a return beginning on January 1, 2024. The bill provides that a broker does not include any person solely engaged in the business of (1) validating distributed ledger transactions, or (2) selling hardware or software for which the sole function is to permit access to digital assets on a distributed ledger.
Modernizing Aerial Fire Fighting Support (MAFFS) for the National Guard Act This bill requires the Department of the Air Force to include the Modular Airborne Fire Fighting System mission as part of its basing criteria for C-130J aircraft for the Air National Guard.
Defense Production Oversight Act of 2022 This bill authorizes Congress to nullify the President's invocation of authorities under the Defense Production Act of 1950 by enacting a joint resolution disapproving of the invocation. It also outlines procedures for the consideration of the joint resolution. (The Defense Production Act of 1950 confers upon the President a broad set of authorities to influence domestic industry in order to provide essential materials and goods needed for the national defense.)
Fueling Our Nuclear Future Act of 2022 This bill modifies provisions under the Energy Act of 2020 concerning high-assay, low-enriched uranium (HALEU), including by directing the Department of Energy (DOE) to (1) establish a program to accelerate the availability of commercially produced HALEU in the United States, and (2) accelerate or initiate activities to make HALEU available from DOE's inventories for use by advanced nuclear reactors.
Renewable Diesel and Sustainable Aviation Fuel Parity Act of 2022 This bill addresses renewable diesel and sustainable aviation fuel, including by (1) allowing such fuels to qualify for loan guarantees under the Energy Policy Act, and (2) requiring the Energy Information Administration within the Department of Energy to report on certain information related to U.S. production and foreign imports of renewable diesel and sustainable aviation fuel.
This bill prohibits U.S. imports of specific uranium products from Russia, directly affecting companies and importers currently bringing Russian uranium into the United States. It bans articles classified under Harmonized Tariff Schedule codes 2612.10, 2844.10, 2844.20, and 2844.30. The prohibition takes effect 45 days after the bill becomes law, applying to uranium entered into the U.S. or withdrawn from warehouse for consumption after that date. The law overrides existing provisions allowing such imports under the USEC Privatization Act.
Empowering States to Protect Seniors from Bad Actors Act This bill reauthorizes through FY2028 and otherwise revises the Senior Investor Protection Grant Program. The bill moves the program from the Consumer Financial Protection Bureau to the Securities and Exchange Commission, establishes a task force to oversee the program, and eliminates certain grant eligibility requirements.
SRES 724 is a non-binding Senate resolution stating that the Federal Government should continue using the historic definition of a recession - two consecutive quarters of negative gross domestic product (GDP) growth - for economic analysis and policy decisions. The resolution cites that this definition has been consistently applied by the National Bureau of Economic Research to identify U.S. recessions over the past decade, including in all 10 instances of two or more consecutive negative GDP quarters. It does not change any law or require government action, but formally expresses the Senate's view on economic terminology. This resolution directly addresses federal economic reporting standards, not specific groups or policies.
This bill requires the Department of Energy to administer polygraphs to foreign nationals of countries of particular concern (as designated by the State Department based on the country's violations of religious freedom) as a condition of their employment at or internal access to the department's national laboratories.
Maximize Americans' Retirement Security Act This bill revises the fiduciary duties for a retirement or employee benefit plan that is regulated under the Employee Retirement Income Security Act of 1974. The bill generally requires a fiduciary to select and maintain investments for a plan based solely on pecuniary factors. Under the bill, a pecuniary factor is a factor that is expected to have a material effect on the risk or return of an investment based on appropriate investment horizons that are consistent with the plan's investment objectives and funding policy. A fiduciary may only use nonpecuniary factors if the fiduciary is unable to distinguish between investment alternatives on the basis of pecuniary factors alone. In such a case, the fiduciary must provide specified documentation to the plan's participants and beneficiaries, including an explanation of how the chosen nonpecuniary factors are consistent with their interests.
Food and Energy Security Act This bill provides requirements for specified federal financial agencies when regulating activity that could impact the extension of capital or investments to agricultural- or energy-related businesses. Specifically, an agency must analyze the economic impact of any such regulation. If the analysis estimates that the regulation would increase prices, and if the consumer price index exceeds a certain level, the agency is prohibited from implementing the regulation.
