H.R. 2501, the Free Speech Fairness Act (Rep. Mark Harris)
- The Johnson Amendment is a provision in the U.S. tax code that prohibits all 501(c)(3) non-profit organizations from endorsing or opposing political candidates. In the context of this legislation, this includes religious organizations and individuals that are affiliated with those institutions, preventing them from making political statements in order to retain their tax-exempt status.
- This is an infringement on citizens’ 1st amendment rights, and this bill would restore that right to church and other nonprofits by allowing them to make political statements so long as they are made at an appropriate/natural time, such as a sermon, and any expenditure related to this are de minimis.
- It is important to note that this bill does not allow non-profit organizations or churches to engage in political activities outside the normal scope of their tax-exempt work or contribute to political campaigns or candidates.
H.R. 4936, the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act, sponsored by Rep. Zach Nunn (R-IA)
- Establishes a task force chaired by the Department of Treasury and comprised of the prudential regulators, the CFPB, FCC, FTC, Department of Justice and representatives of industry to set best practices for preventing scams and fraud.
- Directs the task force to examine the payments landscape and compile a report recommending legislative and regulatory changes, including best practices to coordinate state, local, and federal efforts
H.R. 425, the Repealing Big Brother Overreach Act, sponsored by Rep. Warren Davidson (R-OH)
- Repeals the Corporate Transparency Act and relieves small business owners from burdensome reporting requirements. It would give rights back to small businesses by protecting their privacy and freedom.
- On March 2, 2025, Treasury announced that it was suspending all enforcement of the Corporate Transparency Act, and litigation is ongoing
- On September 10, 2025, FinCEN announced that they will destroy the data previously submitted by U.S. small business owners who were forced to comply with the Corporate Transparency Act’s - Beneficial Ownership Information (BOI) reporting rule, and that FinCEN will issue a final rule by the end of the year
H.R. 3445, the Bureau of Consumer Financial Protection Commission Act, sponsored by Rep. Bill Huizenga (R-MI)
- Changes the Consumer Financial Protection Bureau (CFPB) from an agency led by a single director into an independent commission made up of five members.
Commissioners would be appointed by the president subject to Senate confirmation and serving staggered five-year terms.
- There would be a limit of three commissioners permitted from the same political party. At least two members must have private sector experience in consumer financial products and services, and one member must have previously served as a state bank supervisor.
- The Chair of the commission, designated by the president, would also serve as the principal executive officer over the CFPB with executive authority over personnel, business distribution, and fund expenditure
H.R. 3682, the Financial Stability Oversight Council Improvement Act, sponsored by Rep. Bill Foster (D-IL)
- Proposes reforms to the Financial Stability Oversight Council’s process for designating non-bank financial companies as systemically important. This designation comes with numerous additional regulations for the company.
- Requires FSOC, before voting on a proposed designation of a non-bank, to consult with the company and its primary financial regulator and examine whether a different action by the FSOC or the primary regulator would be sufficient to mitigate the threat that the company could pose to the financial stability to the United States.
- Congressman Loudermilk has cosponsored this bill for the past several Congresses
Letter led by RSC Chairman Pfluger to Senate Minority Leader Chuck Schumer, urging Senator Schumer and the Democratic Caucus to vote to reopen the government in order to restore military readiness and financial stability for the countless servicemembers impacted by the Democrat Shutdown
