Tagged: government trust funds

Hershel "Woody" Williams National Medal of Honor Monument Location ActThis bill requires the authorized monument honoring Medal of Honor recipients to be located within the Reserve (the great cross-axis of the National Mall, which generally extends from the Capitol to the Lincoln Memorial and from the White House to the Jefferson Memorial).

FairTax Act of 2025This bill replaces federal income, payroll, estate, and gift taxes with a federal sales tax beginning in 2027 and eliminates the Internal Revenue Service.The bill establishes a 23% tax-inclusive (30% tax-exclusive) federal sales tax rate on taxable property and services to be administered primarily by each state. The federal sales tax rate is adjusted annually beginning in 2028 so that it is the sum of the general revenue rate (14.91%);old-age, survivors and disability insurance rate; andhospital insurance rate. The bill includes exemptions for property or services purchased for business, investment, and certain state government functions.Registered, qualified families may receive a monthly sales tax rebate in the amount of the monthly federal poverty level (or twice such amount for married individuals) multiplied by the federal sales tax rate. Each family member must have a Social Security number and be a lawful resident of the United States. Federal sales tax revenues are allocated to general revenue, the Social Security trust funds, and the Medicare trust funds. (Special allocation rules apply for 2027.)The bill eliminates appropriations for the Internal Revenue Service after FY2029 and establishes an Excise Tax Bureau and a Sales Tax Bureau within the Department of the Treasury. Finally, the bill terminates the federal sales tax if the Sixteenth Amendment to the Constitution (authorizing a federal income tax) is not repealed within seven years from the date the bill is enacted.

Land And Social Security Optimization Act or the LASSO ActThis bill requires 10% of revenue generated by public lands, including submerged lands on the Outer Continental Shelf, under the jurisdiction of the Department of the Interior and the Forest Service to be deposited into the Federal Old-Age and Survivors Insurance Trust Fund, which is used to pay Social Security benefits to retirees and their families and to survivors of deceased workers.

Original Honoring Our WWII Merchant Mariners Act of 2025This bill requires the Department of Veterans Affairs to distribute a payment of $25,000 to U.S. merchant marines who engaged in qualified service during World War II. To be eligible, an individual must apply for the benefit and must not have received benefits under the Servicemen's Readjustment Act of 1944. The bill sets forth what constitutes qualified service, including time frame of service and licensing requirements.

Rural Broadband Window of Opportunity ActThis bill requires the Federal Communications Commission (FCC) to prioritize the processing of applications for certain rural broadband expansion projects that are located in areas with the shortest construction seasons (e.g., areas with long winters and heavy snowfall).Specifically, the FCC must prioritize processing such applications for the Rural Digital Opportunity Fund (RDOF) Phase II auction, which aims to facilitate the provision of broadband service to areas that are partially served. (The RDOF program's first phase, which is focused on broadband service for wholly unserved areas, is underway.)

Fund and Complete the Border Wall ActThis bill establishes funding for a U.S.-Mexico border barrier and revises how border patrol agents are compensated for overtime.The Department of the Treasury shall set up an account for funding the design, construction, and maintenance of the barrier. The funds in the account are appropriated only for that purpose and for vehicles and equipment for border patrol agents.For each fiscal year, financial assistance to a country shall be reduced by $2,000 for each citizen or national of that country apprehended for illegally entering the United States through its southern border. The reduced amount shall be transferred to the border barrier account. The Department of State may opt not to reduce amounts appropriated to Mexico for various military and law enforcement-related activities.This bill establishes a 5% fee on foreign remittance transfers and increases the fee for the arrival/departure I-94 form for various aliens entering the United States, with part of the fees going to the border barrier account.By December 31, 2025, the Department of Homeland Security shall (1) take all actions necessary, including constructing barriers, to prevent illegal crossings along the U.S.-Mexico barrier; and (2) achieve operational control over all U.S. international borders.The bill changes how border patrol agents receive overtime pay when working up to 100 hours in a two-week period. For hours worked above 80, an agent shall receive at least 150% of the agent's regular hourly rate.