Inflation and prices

Poverty Line Act of 2025

This bill revises the methodology used to calculate the federal poverty guidelines. The federal poverty guidelines are used to determine eligibility for many federal and state public assistance programs, including the Supplemental Nutrition Assistance Program (SNAP), the Children’s Health Insurance Program (CHIP), and the National School Lunch Program. The poverty guidelines are currently calculated by adjusting the Census Bureau’s poverty thresholds to account for changes in the Consumer Price Index.

The bill requires the Department of Health and Human Services (HHS) to calculate regional poverty guidelines based on a combination of factors including average household expenditures on food, clothing, utilities, and transportation; the average cost of rental housing; and the average cost of health insurance. These factors must be calculated using regional data as applicable. HHS must make available to the public a tool for determining the poverty guideline applicable to a given household.

The new regional poverty guidelines established by HHS may not be lower than existing, corresponding poverty guidelines as of the date of enactment of the bill. HHS must review and evaluate the poverty guidelines at least every four years and propose changes to this methodology as appropriate.

The bill takes effect three years after its enactment.

Veterans' Compensation Cost-of-Living Adjustment Act of 2026

This bill requires the Department of Veterans Affairs (VA) to increase the amounts payable for wartime disability compensation, additional compensation for dependents, the clothing allowance for certain disabled veterans, and dependency and indemnity compensation for surviving spouses and children. Specifically, the VA must increase the amounts by the same percentage as the cost-of-living increase in benefits for Social Security recipients that is effective on December 1, 2026. The act requires the VA to publish the amounts payable, as increased, in the Federal Register.

The VA is authorized to make a similar adjustment to the rates of disability compensation payable to persons who have not received compensation for service-connected disability or death.

Veterans' Compensation Cost-of-Living Adjustment Act of 2025

This bill requires the Department of Veterans Affairs (VA) to increase the amounts payable for wartime disability compensation, additional compensation for dependents, the clothing allowance for certain disabled veterans, and dependency and indemnity compensation for surviving spouses and children. Specifically, the VA must increase the amounts by the same percentage as the cost-of-living increase in benefits for Social Security recipients that is effective on December 1, 2025. The bill requires the VA to publish the amounts payable, as increased, in the Federal Register.

The VA is authorized to make a similar adjustment to the rates of disability compensation payable to persons who have not received compensation for service-connected disability or death.

Social Security Expansion Act

This bill increases Social Security benefits, expands Social Security payroll taxes, and makes other changes to the Social Security program.

Specifically, the bill changes the way Social Security benefits are calculated by increasing the primary insurance amount applicable to average monthly earnings that fall below a specified amount, and increasing bend points for individuals who become eligible for Social Security after 2025. (Bend points are dollar amounts at which earnings are segmented for the purpose of calculating an individual’s primary insurance amount. The share of an individual’s earnings that are replaced by Social Security decreases at each escalating bend point.)

The bill also revises the method of calculating cost-of-living adjustments to account for the spending of individuals over the age of 62 and establishes a new minimum benefit for certain low earners. Further, the bill permits full-time students who are the children of deceased or disabled workers to collect Social Security or railroad retirement child’s benefits until they reach age 22.

With respect to taxes, the bill extends payroll taxes on wages, salaries, and self-employment earnings to income above $250,000. (In 2025, the maximum amount subject to Social Security payroll tax is $176,100.) The bill also increases the net investment income tax and subjects active trade or business income to this tax.

Finally, the bill combines the existing Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund into a single Social Security Trust Fund.

Responsible Borrower Protection Act of 2025

This bill prohibits the Federal Housing Finance Agency, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac) from implementing changes to the single-family home loan pricing framework for upfront fees on certain home loans, announced in January 2023. The changes revise the fee charts that provide percentage adjustments based on a borrower's credit score and other risk factors. Overall, these changes increase the percentage adjustments, with variations based on the particular risk profile of the loan.

Monetary Enhancement for Distinguished Active Legends Act of 2025 or the MEDAL Act of 2025

This bill increases the monthly special pension for living Medal of Honor recipients from $1,406.73 to $8,333.33 and establishes a rate of $1,406.73 for the monthly special pension for surviving spouses of Medal of Honor recipients. Both amounts must be adjusted annually for inflation.

Protecting Families from Inflation Act

This bill requires the Board of Governors of the Federal Reserve System to study and report to Congress on the collective impact of U.S. tariffs since 2017 on the cost of goods and services for consumers and small businesses in the United States.

Combating Rural Inflation Act

This bill requires the the Bureau of Labor Statistics of the Department of Labor to publish a monthly index of changes in consumer prices for individuals residing in rural communities.

Veterans' Compensation Cost-of-Living Adjustment Act of 2026

This bill requires the Department of Veterans Affairs (VA) to increase the amounts payable for wartime disability compensation, additional compensation for dependents, the clothing allowance for certain disabled veterans, and dependency and indemnity compensation for surviving spouses and children. Specifically, the VA must increase the amounts by the same percentage as the cost-of-living increase in benefits for Social Security recipients that is effective on December 1, 2026. The act requires the VA to publish the amounts payable, as increased, in the Federal Register.

The VA is authorized to make a similar adjustment to the rates of disability compensation payable to persons who have not received compensation for service-connected disability or death.

Lower Your Taxes Act

This bill increases the earned income tax credit (EITC), replaces the child tax credit with an allowance, establishes a new dependent tax credit, limits the capital gains tax rates, and increases taxes on corporations.

The bill

• increases the EITC amount,

• lowers the EITC eligibility age to 18 years (from 25 years) and eliminates the maximum age limit,

• increases the EITC phaseout amount for joint filers to twice that of single filers, and

• requires the Internal Revenue Service (IRS) to notify individuals of their EITC eligibility.

The bill requires the IRS to create a program for paying individuals certain amounts related to the nonrefundable portion of state EITC amounts.

The bill replaces the child tax credit with a monthly allowance of up to $350 per child depending on the child’s age (subject to income limitations and adjustments for inflation) and requires the IRS to send the allowance to individuals monthly.

The bill establishes a tax credit of $500 for each qualified dependent (subject to income limitations).

Further, the bill

• increases the corporate income tax rate to 28% (from 21%),

• increases the excise tax on corporate stock buybacks to 4% (from 1%), and

• creates a new 25% corporate alternative minimum tax bracket applicable to adjusted financial statement income exceeding $5 billion.

Finally, the bill precludes individuals with taxable income exceeding $1 million ($500,000 for married individuals filing separately) from applying the capital gains tax rates to net capital gains and requires the limits to be adjusted for inflation.

Restoring Trade Fairness Act

This bill establishes various trade measures related to China, including by revoking China's permanent normal trade relations (PNTR) status and increasing the rates of duty (i.e., tariffs) on Chinese imported goods. The bill prohibits imported goods originating from North Korea, China, Russia, or Iran from receiving de minimis treatment. (Current law allows for U.S. imports under a de minimis threshold of $800 per shipment to enter free of tariffs, fees, and taxes.)

Specifically, the bill revokes China's PNTR status. Currently, China's PNTR status allows for Chinese goods to have duty rates set forth in column 1 of the Harmonized Tariff Schedule of the United States (HTS). With the removal of China's PNTR status, the bill generally sets the applicable duty rates on imported Chinese goods at the higher rates listed in column 2 of the HTS, with exceptions.

The bill establishes a minimum duty rate of 35% for all Chinese goods, which requires column 2 rates to be at least 35%. However, the bill establishes a minimum duty rate of 100% for a list of specified goods (e.g., various minerals, certain vaccines and drugs, and certain defense-related articles). Duty rates are phased in over five years and adjusted annually for inflation.

The bill also

• authorizes the President to take additional actions related to trade with China,

• requires merchandise imported from China to be appraised based on U.S. value, and

• establishes a trust fund to compensate U.S. producers for lost revenue resulting from retaliatory actions by China.

Hotel Fees Transparency Act of 2025

This bill requires providers of short-term lodging (e.g., hotels, short-term rentals, and third-party online sellers) to include certain price information when displaying, advertising, or marketing reservations for lodging.

Specifically, such providers must (1) display the total services price, including the base price and any service fees, if a price is displayed in an advertisement. marketing material, or a price list; (2) disclose the total services price at the time the services are first displayed to an individual seeking to purchase such services and anytime thereafter during the purchasing process; and (3) disclose, prior to the final purchase, any tax, fee, or assessment imposed by any government entity (or quasi-government entity) on the sale of such services.

The bill provides for enforcement by the Federal Trade Commission and state attorneys general (or other authorized state officials).

No Corruption in Government Act

This bill lengthens the limitations on former Congress Members' contact with the legislative branch and restricts certain financial transactions by Members and their spouses.

Specifically, the bill lengthens the cooling off period that prohibits former Members from contacting Members, officers, or employees of the House or Senate on behalf of a third party. During this post-employment waiting period, a former Member may not communicate with the intent to influence the official actions of a Member, officer, or employee of the House of Representatives or Senate. The bill lengthens the waiting period from one to three years after a Member of the House leaves office and from two to six years after a Senator leaves office.

Next, the bill prohibits Members of Congress and their spouses from holding, buying, or selling financial instruments such as stocks, securities futures, and commodities while the Member holds office. However, covered financial instruments may be held in a qualified blind trust. A Member or spouse who violates this provision must disgorge any resulting profits, may not take a related financial loss as an income tax deduction, and may be fined up to $50,000. The supervising ethics office of each chamber must audit Members' compliance with these requirements every two years.

Additionally, the bill eliminates automatic annual increases to Members' pay beginning in the 120th Congress.