Bills of The Day:

Bank Resilience and Regulatory Improvement Act
House of Congress: House of Representatives
Bill Code: H.R. 8337
Date Introduced: May 10, 2024
Sponsor: Mr. Barr
Co-Sponsor(s): N/A

Summary: This bill amends various sections of federal banking laws to enhance the safety and soundness of the U.S. banking system. Key changes include increasing asset thresholds from $10 billion to $50 billion for regulatory supervision, Durbin Amendment requirements, Volker Rule requirements, and Qualified Mortgage requirements. It also introduces measures to improve the process and timeliness for bank failure prevention, stress capital buffer requirements, and stress testing. Additionally, the bill mandates a comprehensive review and update of bank supervision appeals processes and a review of resolution actions causing material losses. The bill further requires an in-depth review of discount window operations and provides relief for small bank holding companies by raising the consolidated asset threshold to $10 billion.

Next Action: The bill was referred to the Committee on Financial Services.

Think Differently Database Act
House of Congress: Senate
Bill Code: S. 4174
Date Introduced: April 18, 2024
Sponsor: Mr. Schmitt
Co-Sponsor(s): Mr. Ossoff

Summary: This bill directs the Secretary of Health and Human Services, in consultation with the Directors of NIH and the Institute, to establish a clearinghouse for information and resources for individuals with intellectual disabilities, their caregivers, and families. The clearinghouse will include data on community-based services and long-term support services available to Medicaid recipients, information on obtaining health and mental health care, and a searchable database of resources by postal ZIP Code. Additionally, the bill mandates the promotion of these resources to improve awareness among individuals with intellectual disabilities and their caregivers. The clearinghouse may model its design on the website thinkdifferently.net.

Next Action: The bill was referred to the Committee on Health, Education, Labor, and Pensions.

Restoring American Deterrence Act of 2024
House of Congress: Senate
Bill Code: S. 4177
Date Introduced: April 18, 2024
Sponsor: Mrs. Fischer
Co-Sponsor(s): Mr. Wicker, Mr. King

Summary: This bill implements recommendations from the Congressional Commission on the Strategic Posture of the United States to address emerging global strategic threats. It highlights the rapid growth of nuclear capabilities by China and the ongoing threats from Russia, North Korea, and Iran. The bill mandates the development of updated force sizing requirements, modernization of the tactical warning and attack assessment system, and a national workforce development strategy. It also calls for the establishment of a comprehensive national integrated air and missile defense architecture and the preparation for deploying additional intercontinental ballistic missiles. The bill creates the position of Assistant Secretary of Defense for Nuclear Deterrence Policy and Programs and includes provisions for improving management and processes within the National Nuclear Security Administration. Additionally, it addresses the restoration of domestic uranium enrichment capability and amends the Defense Production Act to increase funding for strategic materials.

Next Action: The bill was referred to the Committee on Armed Services.

Bipartisan BRIDGE to DRC Act of 2024
House of Congress: House of Representatives
Bill Code: H.R. 8310
Date Introduced: May 8, 2024
Sponsor: Mr. James
Co-Sponsor(s): Mr. Jackson of Illinois

Summary: This bill requires the development of strategies to enhance U.S. policy towards the Democratic Republic of the Congo (DRC). It highlights the importance of the DRC's political stability for economic growth and regional security, acknowledging the challenges posed by armed conflicts, corruption, and human rights abuses. The bill mandates a strategy to promote democracy, peace, and stability in the DRC, addressing electoral issues, government reforms, and conflict resolution in eastern DRC. Additionally, it calls for a national strategy to ensure the ethical and sustainable production of critical minerals, emphasizing human rights and labor standards and reducing Chinese influence in the sector. The bill also includes provisions for regular updates on these strategies to Congress.

Next Action: The bill was referred to the Committee on Foreign Affairs and the Committee on the Judiciary.

Economic Espionage Prevention Act
House of Congress: House of Representatives
Bill Code: H.R. 8361
Date Introduced: May 10, 2024
Sponsor: Mr. McCormick
Co-Sponsor(s): N/A

Summary: This bill, if passed, would impose sanctions on foreign adversarial entities involved in economic or industrial espionage against the U.S. The legislation mandates a report from the Secretary of State on the involvement of Chinese entities in supplying critical components to Russia’s defense industry. It authorizes the President to impose sanctions on foreign entities that engage in espionage, including property blocking and visa revocation, provide material support to adversarial military or intelligence sectors, or violate U.S. export control laws. Exceptions include activities related to intelligence, international obligations, and law enforcement. The bill clarifies definitions and amends the International Emergency Economic Powers Act to enhance enforcement against espionage-related activities.

Next Action: The bill was referred to the Committee on Foreign Affairs and the Committee on the Judiciary.