FDA Regulation of Over-the-Counter (OTC) Drugs: Overview and Issues for Congress
The Food and Drug Administration (FDA), under the Federal Food, Drug, and Cosmetic Act (FFDCA), regulates the safety and effectiveness of nonprescription (over-the-counter, or OTC) drugs sold in the U...
Bank Custody, Trust Banks, and Cryptocurrency
Congress, the White House, and several financial regulators have demonstrated a recent interest in the intersection of banking regulation and cryptocurrency. This interest is underpinned by the trend ...
Build Back Better Act: Universal Comprehensive Paid Leave
The Build Back Better Act (BBBA; H.R. 5376), passed by the House on November 19, 2021, proposes a new federal cash benefit for eligible individuals engaged in certain types of family and medical careg...
Infrastructure Investment and Jobs Act (IIJA): Funding for USDA Broadband, Watershed, and Bioproduct Programs
On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act (IIJA; P.L. 117-58). The act provides funding for the nation’s infrastructure, including roads, highway...
FY2022 Reconciliation: Title IV, House Financial Services Committee Provisions
On November 19, 2021, the House approved the Build Back Better Act (H.R. 5376), a FY2022 reconciliation measure. Title IV of the bill includes a modified version of the provisions approved by the Hous...
The Global Magnitsky Human Rights Accountability Act: Scope, Implementation, and Considerations for Congress
The Global Magnitsky Human Rights Accountability Act, enacted in December 2016, authorizes the President to impose economic sanctions on, and deny entry into the United States to, foreign individuals ...
Corporate Tax Reform: Issues for Congress
In 2017, the corporate tax rate was cut from 35% to 21%, major changes were made in the international tax system, and changes were made in other corporate provisions, including allowing expensing (an ...
Bank Use of Cloud Technology
The banking industry has been a prominent, if sometimes skeptical, adopter of cloud technology. Proponents promise scalability, flexibility, and cost savings, among other benefits. However, the techno...
U.S. Forest Ownership and Management: Background and Issues for Congress
The 765 million acres of forests across the United States provide many social, economic, and ecological resources and uses. A forest’s health—generally, the status of its ecological integrity and func...
Infrastructure Investment and Jobs Act: Funding for USDA Rural Broadband Programs
On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act into law (P.L. 117-58). The act invests $1.2 trillion in the nation’s infrastructure, including roads, highways,...
U.S. Agency for Global Media: Background, Governance, and Issues for Congress
Since the beginning of modern U.S. international broadcasting during World War II, debates over the effectiveness, strategic direction, and necessity of broadcasting activities have persisted. Long-st...
Social Security: Special Minimum Benefit and Windfall Elimination Provision
Background
Social Security is a work-related, federal insurance program that provides cash benefits to workers and their eligible family members in the event of the worker’s retirement, disability, or...
The Build Back Better Act, Universal Comprehensive Paid Leave Benefit Formula (as in November 3 Text), and State-Level Distribution of Workers: In Brief
On November 3, 2021, the House Rules Committee released text of a modified version of H.R. 5376, commonly referred to as the Build Back Better Act (BBBA). Title XIII, Subtitle A, of the act (titled “U...
Clearing the Air on the Debt Limit: Platinum Coins, the Fourteenth Amendment, and More
As Congress considers how to reconcile rising federal debt levels and the debt limit, discussions about the role of the debt limit among Members of Congress, researchers, and the media promise to beco...
Federal Support for the Municipal Bond Markets
Introduction
Municipal bonds are debt securities issued by state, city, county, and other nonfederal government agencies to pay for capital projects, such as highways, airports, sewers, bridges, schoo...