Supporting our Troops and Protecting America

This week, the House voted to pass H.R. 4016, the Department of Defense Appropriations Act.

This legislation provides funding for the Department of Defense's (DOD) budget for Fiscal Year 2026. As part of this package, the House allocated a total of $831.5 billion to support ammunition and weapons procurement, increase troop pay, fund DOD health programs, and protect America. 

These investments strengthen America military superiority, support our troops and their families, create a more efficient and effective DOD, combat international drug trafficking, stand with our allies, and counter adversaries like China and Iran.

The bill implements savings and streamlines DOD programs:

• Saving $6.5 billion in Workforce Acceleration and Recapitalization initiative benefits.
• Eliminating waste, fraud, and abuse by codifying streamlined functions and management improvements in the Pentagon.
• Requiring detailed reporting on DOD's expenditures.

This bill authorizes funding that supports our troops and protects America:

• $176 billion to fund a 3.8% pay increase for our armed service members.
• $174 billion for DOD vehicle and munitions procurement.
• $148 billion for research, testing, and evaluation of DOD materials and resources.
• $40.9 billion for DOD medical programs.
• $1.15 billion for counter drug programs.

Protecting Consumers and Advancing Digital Finance

This week, the House voted on three pieces of legislation addressing digital assets and cryptocurrencies. One of these bills, the GENIUS Act, was signed into law today. This bill marks the first major legislation to become law that specifically helps protect Wisconsin families and investors from fraud as this industry continues to take shape.

Under current law, there are few clear regulations governing the issuing, trading, and operation of digital assets and cryptocurrencies. This leaves consumers vulnerable to fraud and companies questioning how they can build and invest in the United States. Addressing these issues is critical to ensuring the U.S. can compete in this growing sector and that scammers are not able to take advantage of American families.

This week the House voted on three critical pieces of legislation to advance innovation and ensure regulatory clarity: CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act. These are important steps to protect consumers from fraud, modernize our financial system, and secure American leadership in digital finance.

As chairman of the Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, I'm proud to lead the House in advancing legislation that provides regulatory clarity, safeguards consumers, and fosters innovation in the United States. This week the House voted to pass:

• The CLARITY Act - Establishes clear rules for issuing and trading digital assets. This bill will provide legal certainty to foster innovation and protect consumers who want to engage in digital assets, like cryptocurrency.
  
  
• The Anti-CBDC Surveillance State Act - Prevents the issuance of a central bank digital currency (CBDC), a government issued digital dollar. This is a tool that nations like China have used to infringe on the privacy of their citizens.
  
  
• The GENIUS Act - Creates a framework for the issuance and operation of stablecoins. Stablecoins are digital assets directly tied to the U.S. dollar. This bill will ensure consumer safety is a priority and preserve U.S. dollar dominance.
  
  •     In March, I authored similar legislation (STABLE Act) to implement a clear regulatory structure for payment stablecoins.

Supporting Children and Families

This month, the House passed H.R. 1, transformative legislation that cuts taxes for working families, secures our border, invests in our armed services, lowers costs for families, and eliminates waste, fraud, and abuse in Medicaid.

Below are two important items that support children and families.

H.R. 1 creates the first ever federal tax credit for school choice scholarships.

Under the bill, an individual can qualify for a matching deduction up to $1,700 for every dollar they donate to a qualifying education scholarship. By creating this deduction, Congress is making it easier for Wisconsin families to support educational opportunities in their community. For more information on the program, click here.

This bill also provides a federally funded, $1,000 investment account for every newborn American born after January 1, 2025.

Under the proposal, the government will make a one time contribution of $1,000 into an investment account that will continue to grow in value until a child turns 18. Families can also contribute up to $5,000 annually to the account, but are not required to do so. The value of this fund will increase over time, helping set children up for future financial success. For more information, click here. This account builds on the $2,200 expanded child tax credit codified by Congress in H.R. 1.

On Wisconsin,

Bryan Steil
Member of Congress

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