Search Results for keywords:"secretary of the treasury"

Search Results: keywords:"secretary of the treasury"

S. 3527 — To prohibit the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Islamic Republic of Iran, and for other purposes.
December 14, 2023
Status:Introduced in Senate
Congress:118
Words:332
S. 3527 aims to stop the U.S. Secretary of the Treasury from engaging in any transactions that involve exchanging Special Drawing Rights (SDRs) issued by the International Monetary Fund which are held by Iran. The bill also requires the U.S. to advocate for other countries to...
Simple Explanation
The bill wants to stop the U.S. money boss from swapping a special kind of money, called Special Drawing Rights, with Iran. It also asks the U.S. to encourage other countries to do the same and to say "no" to giving more of this special money to Iran.
H. R. 3244 — To provide authority to the Secretary of the Treasury to take special measures against certain entities outside of the United States of primary money laundering concern in connection with illicit fentanyl and narcotics financing, and for other purposes.
December 19, 2024
Status:Reported in House
Congress:118
Words:1,397
The bill, H.R. 3244, proposes to give the U.S. Secretary of the Treasury the authority to impose special regulations on certain foreign financial entities that are deemed to be involved in illicit fentanyl and drug-related money laundering. It sets forth measures for U.S. financial...
Simple Explanation
The bill lets the U.S. Secretary of the Treasury make special rules to watch and stop certain foreign banks from being sneaky about money connected to illegal drugs, like fentanyl. It also tells American banks to be extra careful and report when they think bad guys are moving drug money.
S. 5096 — To require the Secretary of the Treasury to instruct the United States Executive Directors at the international financial institutions to advocate opposition to projects that make use of forced labor.
September 18, 2024
Status:Introduced in Senate
Congress:118
Words:985
S. 5096 seeks to stop international projects funded by global financial institutions that use or are at risk of using forced labor, particularly in the Xinjiang Uyghur Autonomous Region of China. The bill directs the Secretary of the Treasury to oppose loans for these...
Simple Explanation
This bill wants to make sure that projects around the world don't use workers who are forced to work, like in some places in China. It tells the US government to say "no" to giving money to these projects and to work with other countries to stop forced work everywhere.
H. R. 9758 — To require the Securities and Exchange Commission, Commodity Futures Trading Commission, and the Secretary of the Treasury to jointly carry out a study on decentralized finance.
September 23, 2024
Status:Introduced in House
Congress:118
Words:922
The Evaluating DeFi Opportunities Act proposes that the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Secretary of the Treasury collaborate to conduct a study on decentralized finance, also known as DeFi. The study will examine aspects...
Simple Explanation
The Evaluating DeFi Opportunities Act wants some important people in finance to work together and learn about DeFi, which is like a cool new way to do money stuff online, and then tell the grown-ups in Congress what they found out.
H. R. 8231 — To award a congressional gold medal to James Earl Jones, an American icon, in recognition of a remarkable life in reshaping perceptions, dismantling racial barriers, and advocating for equal opportunities for people of all backgrounds in film and theatre.
May 02, 2024
Status:Introduced in House
Congress:118
Words:1,282
H.R. 8231 proposes awarding a Congressional Gold Medal to James Earl Jones, a celebrated American actor, for his significant contributions to film and theater. The bill highlights Jones's achievements in breaking racial barriers and promoting equality in the entertainment...
Simple Explanation
James Earl Jones, a famous actor, might get a special gold medal from Congress because he helped make movies fairer for people of all races. This bill talks about making the medal and also selling some copies to help pay for it.
H. R. 7438 — An Act To require the Secretary of the Treasury to mint coins in commemoration of the FIFA World Cup 2026, and for other purposes.
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September 17, 2024
Status:Engrossed in House
Congress:118
Words:1,741
H.R. 7438 directs the Secretary of the Treasury to mint commemorative coins for the FIFA World Cup 2026. The bill specifies the creation of $5 gold coins, $1 silver coins, and half-dollar clad coins, and details their design and sale. The proceeds from selling these coins...
Simple Explanation
The bill tells a story about making special coins to celebrate a big soccer tournament happening in 2026. These fancy coins will help raise money to make soccer even more fun for kids and communities who don't have as much.
H. R. 7874 — To terminate the United States-People’s Republic of China Income Tax Convention if the People’s Liberation Army initiates an armed attack against Taiwan.
April 05, 2024
Status:Introduced in House
Congress:118
Words:352
H.R. 7874 proposes that the United States would end the Income Tax Convention with the People’s Republic of China if the Chinese military attacks Taiwan. The Secretary of the Treasury is required to notify China within 30 days after the President informs them about such an...
Simple Explanation
If the Chinese military starts a fight with Taiwan, this bill says the United States would stop an agreement they have with China about sharing tax information. The President and special government people have to quickly tell China and some important groups about it.
H. R. 6944 — To require the Secretary of the Treasury to establish a catastrophic property loss reinsurance program, and for other purposes.
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January 10, 2024
Status:Introduced in House
Congress:118
Words:3,981
H.R. 6944, also known as the "INSURE Act," requires the Secretary of the Treasury to establish a reinsurance program for catastrophic property losses. This program will provide reinsurance to insurance companies offering all-perils property insurance policies, including for...
Simple Explanation
The INSURE Act is a plan to help protect people’s homes from really big disasters like floods and wildfires by having the government help insurance companies cover these events and also assist people who can’t afford the insurance.
H. R. 9315 — To direct the Secretary of the Treasury to submit a report on coordination in the public and private sectors in responding to ransomware attacks on financial institutions, and for other purposes.
August 06, 2024
Status:Introduced in House
Congress:118
Words:850
H.R. 9315, also known as the "Public and Private Sector Ransomware Response Coordination Act of 2024," requires the Secretary of the Treasury to submit a report to Congress on how the public and private sectors are working together to tackle ransomware attacks on financial...
Simple Explanation
In H.R. 9315, the government wants to make sure that banks and other money places are working well with each other and with secret agents to stop bad computer people from taking their money. They are going to write a big paper about how they're doing and see if they need new rules to do a better job.
S. 4141 — To require the Secretary of the Treasury to mint coins in commemoration of the FIFA World Cup 2026, and for other purposes.
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April 17, 2024
Status:Introduced in Senate
Congress:118
Words:1,755
S. 4141 proposes that the Secretary of the Treasury mint special coins to commemorate the FIFA World Cup 2026. These coins will be made in gold, silver, and half-dollar clads, featuring designs representing soccer and the World Cup. The sales would include a surcharge that...
Simple Explanation
The bill is about making special coins to celebrate the 2026 FIFA World Cup, with the money earned helping kids play soccer in the U.S. without costing the country any extra money.
S. 5012 — To establish an interest-bearing account for the non-Federal contributions to the Lower Colorado River Multi-Species Conservation Program, and for other purposes.
November 21, 2024
Status:Reported to Senate
Congress:118
Words:1,089
The bill, titled the “Lower Colorado River Multi-Species Conservation Program Amendment Act of 2024,” aims to create an interest-bearing account in the U.S. Treasury for non-Federal contributions to a conservation program. It modifies a section of the Omnibus Public Land Management Act of...
Simple Explanation
This bill is about creating a special account where people can put money to help protect plants and animals near the Lower Colorado River. The money in this account will earn interest, which means it can grow over time, and the person in charge will make sure the money is safe and used for good purposes.
H. R. 1568 — An Act To amend the Tariff Act of 1930 to protect personally identifiable information, and for other purposes.
January 22, 2024
Status:Received in Senate
Congress:118
Words:313
H. R. 1568, known as the “Moving Americans Privacy Protection Act,” aims to update the Tariff Act of 1930 to safeguard personally identifiable information. The bill prohibits public disclosure of certain information when it might pose a risk of personal injury or property...
Simple Explanation
H. R. 1568 wants to keep personal information like Social Security numbers safe when shipping things so that bad people can't see it and cause harm. It says that the people in charge need to make sure to take out this private stuff before showing it to everyone.
S. 5435 — To prohibit certain entities from entering articles under the administrative exemption from duties for de minimis entries of articles.
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December 05, 2024
Status:Introduced in Senate
Congress:118
Words:1,858
The bill S. 5435, also known as the "Detection and Exclusion of Negligent, Illicit, and Extralegal Deliveries Act" or the "DENIED Act," proposes to prevent certain entities from using the administrative exemption that allows articles to enter the U.S. without duties for de...
Simple Explanation
The bill wants to stop some companies from getting out of paying duties (taxes) on small shipments to the U.S. if those companies have done bad things like using forced labor or selling fake stuff. It also wants to make sure there are rules to catch and punish these companies if they try to cheat.
H. R. 8047 — To support communities that host transmission lines and to promote conservation and recreation, and for other purposes.
April 17, 2024
Status:Introduced in House
Congress:118
Words:2,195
H.R. 8047, known as the “Energizing Our Communities Act,” aims to support communities that host electric transmission lines by establishing a Community Economic Development Transmission Fund. This bill allows funds from interest on certain energy loans to be directed towards host communities...
Simple Explanation
H.R. 8047, the "Energizing Our Communities Act," is a plan to help places where big electric wires are built by giving them money from special energy loans to make their towns nicer and protect nature, like fixing parks or making schools better.
S. 5347 — To require the Secretary of the Treasury to conduct a study and prepare a report on the exposure of the United States to the financial sector of the People’s Republic of China, and for other purposes.
November 19, 2024
Status:Introduced in Senate
Congress:118
Words:633
S. 5347, also known as the "China Financial Threat Mitigation Act of 2024," directs the Secretary of the Treasury to study and report on how the United States is exposed to the financial sector of China. The study should evaluate the impact of changes in China’s financial...
Simple Explanation
The bill wants someone in charge to check how much money stuff in China can affect money stuff in the U.S., and then write a report about it so everyone knows what's going on.
H. R. 1568 — An Act To amend the Tariff Act of 1930 to protect personally identifiable information, and for other purposes.
February 06, 2024
Status:Enrolled Bill
Congress:118
Words:316
H.R. 1568, titled the “Moving Americans Privacy Protection Act,” aims to protect personally identifiable information by amending the Tariff Act of 1930. The bill outlines conditions under which certain shipping information cannot be disclosed to the public, especially if it...
Simple Explanation
H.R. 1568 is a plan to make sure that people's personal information, like their Social Security numbers, isn’t shown in shipping details that can be seen by everyone. This is to keep people safe and protect their private info when things are being shipped.
H. R. 10170 — To require the Secretary of the Treasury to mint coins in commemoration of the semiquincentennial anniversary of the establishment of the United States.
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November 19, 2024
Status:Introduced in House
Congress:118
Words:1,521
H.R. 10170 is a bill that proposes the minting of special coins to commemorate the 250th anniversary of the United States' independence, which will be celebrated in 2026. The bill outlines the creation of gold, silver, and clad coins with specific designs and inscriptions to...
Simple Explanation
H.R. 10170 is a plan for the U.S. to make special coins to celebrate its 250th birthday in 2026. These coins will help raise money to take care of national parks, like fun birthday presents for the country's big day.
H. R. 7770 — To require the Secretary of the Treasury to mint coins in commemoration of the women who contributed to the Home Front during World War II, and for other purposes.
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March 21, 2024
Status:Introduced in House
Congress:118
Words:1,923
H.R. 7770 directs the Secretary of the Treasury to create coins honoring the women who supported the U.S. Home Front during World War II. It highlights the extensive contributions of over six million women, symbolized by "Rosie the Riveter," who filled roles in factories and...
Simple Explanation
This bill wants to make special coins to say thank you to the women who worked hard at home during World War II, like the famous "Rosie the Riveter." The money made from selling these coins will help take care of a special park that remembers these women.
S. 5408 — To require the Secretary of the Treasury to mint commemorative coins in recognition of the life and legacy of Roberto Clemente.
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December 02, 2024
Status:Introduced in Senate
Congress:118
Words:2,180
S. 5408 directs the Secretary of the Treasury to produce commemorative coins honoring Roberto Clemente's life and legacy. The coins, which include gold, silver, and half-dollar clad options, will highlight Clemente's contributions as a baseball legend and human rights...
Simple Explanation
This bill wants to make special coins to honor a famous baseball player, Roberto Clemente, and give the extra money from selling these coins to help kids and people in need. It also makes sure that making these coins doesn't cost the government any money.
S. 4528 — To award posthumously a Congressional Gold Medal to Marshall Walter Major Taylor in recognition of his significance to the nation as an athlete, trailblazer, role model, and equal rights advocate.
June 12, 2024
Status:Introduced in Senate
Congress:118
Words:1,525
S. 4528 proposes to award a Congressional Gold Medal posthumously to Marshall Walter "Major" Taylor for his contributions as an athlete, trailblazer, role model, and equal rights advocate. Taylor, a pioneering Black cyclist, overcame significant racial barriers to achieve...
Simple Explanation
Marshall Walter "Major" Taylor, a famous cyclist who raced a long time ago, is being honored with a special medal because he was really good at what he did and helped make things better for everyone. His great-granddaughter will receive this medal, and people can get a copy of it too.
S. 3861 — To terminate the United States-People's Republic of China Income Tax Convention if the People's Liberation Army initiates an armed attack against Taiwan.
March 05, 2024
Status:Introduced in Senate
Congress:118
Words:319
S. 3861 proposes to end the income tax agreement between the United States and the People's Republic of China if China’s military attacks Taiwan. The Secretary of the Treasury is required to notify China within 30 days of the President's assessment that such an attack has...
Simple Explanation
If China's military attacks Taiwan, this bill says the United States will stop a special agreement with China about taxes. The President and the Treasury boss have to tell China and certain people in the U.S. government if this happens.
H. R. 6840 — To prohibit the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Islamic Republic of Iran, and for other purposes.
December 15, 2023
Status:Introduced in House
Congress:118
Words:326
H.R. 6840 is a bill that aims to stop the U.S. Secretary of the Treasury from participating in exchanges of Special Drawing Rights (SDRs) held by Iran and issued by the International Monetary Fund (IMF). Additionally, it requires the Secretary of the Treasury to encourage...
Simple Explanation
The bill says that the U.S. Treasury Secretary can't trade a special kind of international money that Iran has, and they must also encourage other countries not to trade it with Iran.
H. CON. RES. 88 — Expressing the sense of Congress that the Secretary of State in coordination with the Secretary of the Treasury should investigate the use of cryptocurrencies by Hamas (also known as Harakat al-Muqawama al-Islamiya), and whether any cryptocurrencies were exchanged between Hamas and the United Nations Relief and Works Agency.
February 06, 2024
Status:Introduced in House
Congress:118
Words:265
H. CON. RES. 88 expresses the opinion of Congress that the Secretary of State, in coordination with the Secretary of the Treasury, should conduct an investigation into the use of cryptocurrencies by Hamas, also known as Harakat al-Muqawama al-Islamiya. The resolution also seeks to determine...
Simple Explanation
Congress wants the Secretary of State and the Secretary of the Treasury to look into whether a group called Hamas is using digital money, like cryptocurrencies, and if they are trading it with a group that helps people, to make sure everything is happening above board.
H. R. 7438 — An Act To require the Secretary of the Treasury to mint coins in commemoration of the FIFA World Cup 2026, and for other purposes.
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September 18, 2024
Status:Referred in Senate
Congress:118
Words:1,733
H.R. 7438 mandates that the Secretary of the Treasury mint and sell commemorative coins to celebrate the FIFA World Cup 2026. These coins will be made in gold, silver, and clad materials, with specific designs emblematic of the event and the sport of soccer. The proceeds from...
Simple Explanation
In 2026, to celebrate a big soccer event called the FIFA World Cup, special shiny coins in gold, silver, and other materials will be made and sold. The extra money made from these coins will help kids and people in need play more soccer in the U.S., and it's important that this happens without costing the government any extra money.
H. R. 1568 — An Act To amend the Tariff Act of 1930 to protect personally identifiable information, and for other purposes.
January 18, 2024
Status:Engrossed in House
Congress:118
Words:331
H. R. 1568 aims to amend the Tariff Act of 1930 to enhance the protection of personally identifiable information (PII). Under this act, the U.S. Secretary of the Treasury is tasked with ensuring that personal data such as Social Security and passport numbers are removed from...
Simple Explanation
In simple terms, H. R. 1568 is a new rule that makes sure personal details like your Social Security number are not shared when shipping lists are made public, keeping your information safer. It also has rules to hide certain shipment details if they might cause harm or danger.
H. R. 8876 — To amend the Internal Revenue Code of 1986 to remove the limitation on the aggregate amount of grants made available to low-income taxpayer clinics and to adjust the matching fund requirements for such clinics.
June 27, 2024
Status:Introduced in House
Congress:118
Words:508
H.R. 8876, known as the "Low-Income Taxpayer Clinic Modernization Act of 2024," proposes changes to the Internal Revenue Code of 1986. The bill aims to remove the cap on the total grants that can be given to low-income taxpayer clinics, and also adjust the requirement for these clinics to...
Simple Explanation
H.R. 8876 is a bill that wants to help places that assist people who don't make a lot of money with their taxes by giving them more money and changing how much of their own money these places have to use. They want to make it easier for the places to help more people by letting them use less of their own money.
H. R. 6015 — An Act To require the President to prevent the abuse of financial sanctions exemptions by Iran, and for other purposes.
April 17, 2024
Status:Referred in Senate
Congress:118
Words:595
H.R. 6015 is a bill that seeks to prevent the misuse of financial sanctions exemptions by Iran. It requires the President to issue regulations within 180 days to ensure transactions do not support international terrorism or the spread of weapons of mass destruction....
Simple Explanation
The bill wants to make sure Iran doesn't use special financial rules to do bad things like support terrorism or make dangerous weapons. It tells the President and other important people to watch carefully and report back on how well this is working.
S. 3476 — To monitor United States investments in entities that are controlled by foreign adversaries, and for other purposes.
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December 12, 2023
Status:Introduced in Senate
Congress:118
Words:2,064
S. 3476 is a bill aimed at monitoring investments by the United States in foreign entities controlled by adversarial countries. The bill requires the Secretary of Commerce, the Secretary of the Treasury, and the Securities and Exchange Commission to report regularly on these...
Simple Explanation
The bill is about keeping an eye on the money the United States might invest in businesses controlled by countries like China, Russia, and Iran to make sure everything is safe and fair. It asks certain leaders to check and tell important details about these investments regularly, so everyone knows what's happening.
S. 4136 — To amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations.
April 17, 2024
Status:Introduced in Senate
Congress:118
Words:1,211
The bill, S. 4136, aims to amend the Internal Revenue Code of 1986 to remove the tax-exempt status of organizations that support terrorism. It defines a "terrorist supporting organization" as any group designated by the Secretary of the Treasury that has provided substantial assistance to...
Simple Explanation
The bill is like a rule that says if a group is found helping bad guys (like those who do scary things), they can't get a special benefit anymore that lets them not pay certain taxes. It also makes sure the group can argue that they aren't helping the bad guys before losing this benefit.
H. R. 7965 — To include requirements relating to ransomware attack deterrence for a covered U.S. financial institution in the Consolidated Appropriations Act, 2021, and for other purposes.
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April 11, 2024
Status:Introduced in House
Congress:118
Words:2,001
H.R. 7965, known as the “Ransomware and Financial Stability Act of 2024,” amends the Consolidated Appropriations Act, 2021, to incorporate measures aimed at deterring ransomware attacks against U.S. financial institutions. The bill mandates that any affected financial institution cannot pay...
Simple Explanation
In the "Ransomware and Financial Stability Act of 2024," the law says that if a big bank or money place gets in trouble from bad guys on the internet asking for money (like a digital bully), they can't give more than $100,000 without asking a special boss first and telling the authorities. This rule is like a safety shield to make sure they follow good rules and don't get in trouble as long as they follow the guidelines.
H. R. 6245 — An Act To require the Secretary of the Treasury to report on financial institutions’ involvement with officials of the Iranian Government, and for other purposes.
April 16, 2024
Status:Engrossed in House
Congress:118
Words:2,418
The Holding Iranian Leaders Accountable Act of 2023 requires the U.S. Secretary of the Treasury to report on the involvement of financial institutions with Iranian officials. The Act mandates a report, due 180 days after enactment and every two years thereafter, detailing the...
Simple Explanation
The bill is like a rule saying that the U.S. needs to keep an eye on how banks are dealing with people who run Iran, making sure they're not hiding or doing anything sneaky with money. It also lets the President decide to keep some things secret about this if it helps the country.
H. R. 7438 — To require the Secretary of the Treasury to mint coins in commemoration of the FIFA World Cup 2026, and for other purposes.
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February 23, 2024
Status:Introduced in House
Congress:118
Words:1,768
H. R. 7438 requires the Secretary of the Treasury to produce special coins in honor of the FIFA World Cup 2026, which will be held in the United States, Mexico, and Canada. The bill outlines the creation of gold, silver, and half-dollar coins with specific designs reflecting...
Simple Explanation
The bill wants the U.S. to make special coins for the 2026 World Cup to celebrate soccer, with the money from selling these coins helping kids play soccer, especially in places where they might not have opportunities, but there's some worry about how the money is managed.
S. 3945 — To restrict the Chinese Government from accessing United States capital markets and exchanges if it fails to comply with international laws relating to finance, trade, and commerce.
March 14, 2024
Status:Introduced in Senate
Congress:118
Words:847
S. 3945 is a bill designed to prevent the Chinese Government from using the United States' capital markets and exchanges if it doesn't follow international laws related to finance, trade, and commerce. The bill outlines specific laws that the Chinese Government must comply...
Simple Explanation
The bill S. 3945 wants to stop China from using American money places, like stock exchanges, if China doesn't play fair with money and trading rules everyone agreed on. If China breaks these rules, the U.S. can say "no" to new deals with Chinese government businesses.
H. R. 9356 — To require the Secretary of the Treasury to establish a pilot program to provide grants to eligible grantees to use for the purpose of providing low-interest construction loans to eligible entities.
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August 13, 2024
Status:Introduced in House
Congress:118
Words:945
H.R. 9356, known as the “Lasting Home Affordability Act of 2024,” requires the Secretary of the Treasury to set up a pilot program giving grants for low-interest construction loans. These loans are for eligible state agencies and nonprofit organizations, which will use the funds to create...
Simple Explanation
The bill wants to help build or fix homes that people can afford to buy by giving out special loans to groups that can build these homes. It plans to give $100 million to help make this happen, starting in 2025, so that more families can have a nice place to live.
H. R. 7927 — To require a study on the manner and extent to which the tariff rates assessed by the United States on imports are regressive or demonstrate a gender bias, and for other purposes.
April 10, 2024
Status:Introduced in House
Congress:118
Words:483
H.R. 7927, also known as the "Pink Tariffs Study Act," is a bill that calls for a study to be conducted on U.S. tariffs. The study aims to determine if tariff rates are regressive, meaning they disproportionately affect lower-income consumers, or if they show a gender bias,...
Simple Explanation
H.R. 7927 wants to check if the taxes on things the U.S. buys from other countries are fair, especially to see if they are harder on people with less money or if they make things for women cost more than for men. People in charge will write a report about this to share with everyone.
H. R. 8620 — To amend the Federal Reserve Act to require the Secretary of the Treasury to print $500 Federal reserve notes featuring a portrait of the 45th President of the United States.
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June 05, 2024
Status:Introduced in House
Congress:118
Words:252
H.R. 8620, also known as the “Treasury Reserve Unveiling Memorable Portrait Act of 2024” or the “TRUMP Act of 2024,” proposes an amendment to the Federal Reserve Act. The bill mandates the Secretary of the Treasury to produce $500 Federal reserve notes that feature a portrait...
Simple Explanation
The bill wants to make new $500 bills with a picture of the 45th President of the United States on them, but some people think doing this might be unnecessary and could make some folks upset because it seems political.
H. R. 8895 — To amend the Internal Revenue Code of 1986 to provide that certain payments to foreign related parties subject to sufficient foreign tax are not treated as base erosion payments.
June 28, 2024
Status:Introduced in House
Congress:118
Words:639
H.R. 8895 proposes an amendment to the Internal Revenue Code of 1986, which would change how certain payments to foreign related parties are treated. Specifically, the bill states that if the payments to these foreign parties are subject to a foreign income tax rate of at least 15%, they will...
Simple Explanation
H.R. 8895 is about a rule that says when companies pay money to their related companies in another country, and if that money gets taxed at least 15% in the other country, it won't be counted against them for certain tax calculations in the U.S. They want to make sure companies and the people who collect taxes understand exactly what they need to do, but it might be a bit tricky to figure out.
S. 4011 — To amend the Internal Revenue Code of 1986 to end the tax-free treatment of certain corporate reorganizations that involve large corporations.
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March 21, 2024
Status:Introduced in Senate
Congress:118
Words:1,348
The bill S. 4011, titled the “Stop Subsidizing Giant Mergers Act,” aims to modify the Internal Revenue Code of 1986 to end tax-free treatment for certain types of corporate reorganizations involving large corporations. Specifically, it intends to prevent mergers,...
Simple Explanation
The "Stop Subsidizing Giant Mergers Act" is a plan to change the rules so that really big companies, making over $500 million, have to pay taxes when they merge or join together, instead of getting a free pass. This means that super-rich companies can't avoid paying taxes when they get even bigger.

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