John Neely Kennedy

This bill would require the Consumer Financial Protection Bureau (CFPB) to include much more detailed analysis in its proposed rules before implementation. Specifically, when the agency issues new regulations, it must publish comprehensive cost-benefit analyses that examine compliance costs for businesses and consumers, effects on competition and economic activity, and whether the regulation duplicates or conflicts with existing rules. The bill also requires the CFPB to identify alternative approaches to each regulation and explain why the chosen approach is better, and to consult with the Small Business Administration if a rule would increase costs for small businesses. Additionally, the agency must justify any regulation where the measured benefits do not outweigh the costs or where alternative approaches would produce better outcomes. These transparency requirements apply to all CFPB rulemakings going forward, affecting financial companies, small businesses, and consumers by potentially slowing the regulatory process and making it easier to challenge new rules.

The TWICE Act requires the Transportation Security Administration to develop guidelines within one year to improve access to the Transportation Worker Identification Credential program, commonly known as TWIC. The bill specifically directs the TSA to create guidelines that help returning citizens who have been incarcerated access the program, assist currently incarcerated individuals in preparing applications, and help people appeal or request waivers if they've been initially deemed ineligible. The legislation does not authorize specific funding but requires the TSA to brief Congress within 180 days after the guidelines are developed to explain how they are being implemented. The bill affects formerly and currently incarcerated workers seeking credentials needed for transportation security positions, as well as port and transportation facility workers in general who rely on the TWIC program.

The Support Our Educators Act of 2026 increases the tax deduction that public and private school teachers can claim for out-of-pocket classroom expenses from $250 to $600 per year. The bill also creates a new tax deduction for parents who homeschool their children, allowing them to claim up to $600 annually for expenses such as curriculum courses, books, supplies, and computer equipment used in home instruction. Both deductions would apply to expenses incurred starting in 2026 and beyond. The legislation does not include specific federal funding allocations but instead provides tax relief by allowing educators and homeschooling parents to reduce their taxable income. By expanding these deductions, the bill aims to help offset the significant personal expenses that teachers and homeschooling families typically bear when educating students.

The AI Emergency Button Act would require all companies that develop or operate advanced artificial intelligence systems in the United States to include a human-controlled shutdown mechanism in those systems. The legislation applies to any entity building or running these AI systems, known as "covered entities." The Secretary of Homeland Security would have 90 days from the bill's enactment to write regulations establishing how companies must comply with this shutdown requirement. The bill does not specify funding amounts or detailed implementation timelines beyond the 90-day regulatory deadline. The underlying goal is to ensure humans retain the ability to immediately shut down AI systems if needed, serving as a safety measure over automated AI operations.

The Display America's Art Act establishes a Congressional Art Loan Program that allows members of Congress to borrow artwork from federal institutions for display in their personal and leadership offices. The program would be managed by the Architect of the Capitol working with eligible institutions, primarily the Smithsonian Institution and its associated museums like the National Gallery of Art and National Portrait Gallery. The artwork available for loan would be limited to pieces currently held in storage and not publicly displayed. The bill does not include specific funding amounts or implementation timelines, leaving those details to be determined by the Architect of the Capitol in coordination with the participating institutions. This legislation aims to put underutilized artwork in federal collections on display while keeping it within government facilities.

This bill would apply automatic inflation adjustments to the tax thresholds used to determine how much of Social Security benefits are subject to federal income tax. Currently, these dollar amount thresholds remain fixed, meaning more retirees pay taxes on their benefits as inflation erodes the real value of the thresholds. The legislation would adjust these thresholds annually starting in 2027 based on the cost-of-living index, similar to how Social Security benefits themselves are adjusted for inflation. This change would affect millions of Social Security recipients, particularly those with moderate incomes who receive partial taxation of their benefits. The bill does not include direct spending or new funding mechanisms, as it operates through the existing tax code structure.

This bill would adjust the income thresholds for the additional Medicare hospital insurance tax to account for inflation starting in 2027. Currently, high-income earners pay an extra 0.9 percent Medicare tax on wages and self-employment income above certain dollar amounts, but those thresholds have remained fixed since the tax was created. The legislation would automatically increase these thresholds each year based on the cost-of-living adjustment, with amounts rounded to the nearest thousand dollars. This change would affect wealthy individuals and self-employed people whose income exceeds the threshold amounts, potentially reducing the number of taxpayers subject to the additional tax over time as thresholds rise. The bill includes no specific funding or implementation costs since it modifies an existing tax structure rather than creating new spending.