Boozman, Cramer Introduce Bill to Protect Legal Industries from Debanking

WASHINGTON––U.S. Senator John Boozman (R-AR) joined Senator Kevin Cramer (R-ND) to introduce the Fair Access to Banking Act to protect access to financial services and ensure banks operate in a safe, sound manner. The legislation requires that lending and financial services decisions be based on impartial, risk-based analysis – not political or reputational favoritism.

“Financial services are vital to the success of all businesses and should be based on sound data and risk management –– not as a means to target certain industries or political issues,” said Boozman. I am proud to support legislation that curtails unfair efforts to block lawful businesses’ access to banking due to political beliefs or affiliations and instead restores reliance on proper analytical criteria. 

“When progressives failed at banning these entire industries, what they did instead is they turned to weaponizing banks as sort of a backdoor to carry out their activist goals,” said Cramer. “Financial institutions are backed by taxpayers, for crying out loud! They should be obligated to provide services in an unbiased, risk-based manner. The Fair Access to Banking Act ensures that banks provide fair access to services and enacts strict penalties for categorically discriminating against legal industries and individuals.”

Specifically, this legislation penalizes banks and credit unions with over $10 billion in total consolidated assets, or their subsidiaries, if they refuse to do business with any legally compliant, credit-worthy person. It also prevents payment card networks from discriminating against any qualified person because of political or reputational considerations. The bill requires qualified banks to provide written justification for why they are denying a person financial services. Further, the Fair Access to Banking Act would penalize providers who fail to comply with the law by disqualifying institutions from using discount window lending programs, terminating status as an insured depository institution or credit union, or imposing a civil penalty of up to $10,000 per violation. 

The bill is based on President Trump’s Fair Access Rule, which was introduced during his first administration and required financial institutions to make individual risk assessments rather than broad decisions regarding entire industries or categories of customers. The Biden administration paused the rule’s implementation in early 2021.

The Fair Access to Banking Act is endorsed by the National Shooting Sports Foundation, National Rifle Association, National Cattlemen’s Beef Association, The Digital Chamber, Blockchain Association, Independent Petroleum Association of America, Online Lenders Alliance, Day 1 Alliance, GEO Group, National Association of Wholesaler-Distributors and the National Mining Association.

The bill is cosponsored by U.S. Senators Jim Banks (R-IN), John Barrasso (R-WY), Marsha Blackburn (R-TN), Katie Britt (R-AL), Ted Budd (R-NC), Shelley Moore Capito (R-WV), Bill Cassidy, M.D. (R-LA), John Cornyn (R-TX), Tom Cotton (R-AR), Mike Crapo (R-ID), Ted Cruz (R-TX), John Curtis (R-UT), Steve Daines (R-MT), Joni Ernst (R-IA), Deb Fischer (R-NE), Lindsey Graham (R-SC), Bill Hagerty (R-TN), John Hoeven (R-ND), Cindy Hyde-Smith (R-MS), Ron Johnson (R-WI), Jim Justice (R-WV), John Kennedy (R-LA), James Lankford (R-OK), Cynthia Lummis (R-WY), Roger Marshall, M.D. (R-KS), Dave McCormick (R-PA), Jerry Moran (R-KS), Bernie Moreno (R-OH), Markwayne Mullin (R-OK), Pete Ricketts (R-NE), Jim Risch (R-ID), Eric Schmitt (R-MO), Rick Scott (R-FL), Tim Scott (R-SC), Tim Sheehy (R-MT), Dan Sullivan (R-AK), Thom Tillis (R-NC), Tommy Tuberville (R-AL) and Roger Wicker (R-MS).

Click here for full text of the legislation.

Boozman, Tillis, Murray Introduce Bipartisan, Bicameral Legislation to Support Purple Heart Families

WASHINGTON––U.S. Senator John Boozman (R-AR) joined Senators Patty Murray (D-WA) and Thom Tillis (R-NC) to introduce the Purple Heart Veterans Education Act, legislation allowing veterans who received their Purple Heart after their service to transfer their educational benefits to one or more of their dependents

“I’m proud to support policies that honor the promises made to the brave men and women who have worn our nation’s uniform,” said Boozman. “Ensuring that veterans, and especially Purple Heart recipients, are able to access the benefits they have earned for themselves and their families is a duty that Congress should always prioritize.”

“Purple Heart veterans have made tremendous sacrifices to defend our freedoms, and we as a nation should do everything we can to support them and their families when they return—that includes ensuring all Purple Heart veterans have the full benefits they have earned,” said Murray. “As the daughter of a Purple Heart Veteran, this is personal to me—and I’m grateful to my colleagues on both sides of the aisle for joining me in this effort.”

“Purple Heart recipients are heroes who honorably served our country at great costs, and this oversight that prevents servicemembers who received this distinguished award after their service from transferring their GI bill benefits to their dependents needs to be corrected immediately,” said Tillis. “I am proud to co-introduce this commonsense legislation to close this loophole and ensure every Purple Heart recipient and dependents are able to further their education.”

 Specifically, the Purple Heart Veterans Education Act would:

• Permit an individual awarded the Purple Heart after their service in the Armed Forces to transfer their post-9/11 educational benefits to one or more of their dependents.

• Allow flexibility by permitting the veteran to allocate different amounts, totaling 36 months of benefits, to their dependents. For example, one dependent may be designated 20 months and the other 16 months. 

• Protect the veteran’s right to their benefits by prohibiting the use of their educational benefits to be treated as marital property or the asset of a marital estate. 

• Honor the veteran’s legacy by allowing their dependents to continue using the unused benefits after their death. 

The legislation is also cosponsored by Senators Rick Scott (R-FL), Angus King (I-ME), Jacky Rosen (D-NV), Steve Daines (R-MT), Ron Wyden (D-OR), John Cornyn (R-TX), Mark Kelly (D-AZ), Kevin Cramer (R-ND) and Michael Bennet (D-CO).

Congressmen Mike Levin (D-CA-49) and Greg Murphy (R-NC-03) introduced companion legislation in the U.S. House of Representatives.

The Purple Heart Veterans Education Act is endorsed by Disabled American Veterans (DAV), Iraq and Afghanistan Veterans of America (IAVA) and Veterans of Foreign Wars (VFW).

Click here for full text of the legislation.

Boozman, Cramer, Capito and colleagues file bicameral amicus brief to overturn FHWA’s unlawful rmissions rule

WASHINGTON – U.S. Senators John Boozman (R-AR), Kevin Cramer (R-ND) and Committee on Environment and Public Works Ranking Member Shelley Moore Capito (R-WV) led 27 of their colleagues in filing a bicameral amicus brief in the U.S. Court of Appeals for the Sixth Circuit opposing a final rule from the Federal Highway Administration (FHWA) that requires state departments of transportation and metropolitan planning organizations to measure greenhouse gas (GHG) emissions on the highway system and set declining targets for those GHG emissions. The brief requests that the Court uphold the April 2024, U.S. District Court decision finding that Congress did not grant the FHWA the authority to issue the rule.

The brief argues Congress explicitly debated providing the FHWA the necessary authority to issue this rule, but decided against doing so in the Infrastructure Investment and Jobs Act. The FHWA then intentionally misconstrued congressional intent and used unrelated statutory authorities to attempt to justify issuing its GHG performance measure rule. The lawmakers also contend the rulemaking is inconsistent with recent Supreme Court decisions paring back executive branch overreach, and that FHWA is ignoring principles of federalism at the expense of state governments to further its own policy agenda.

“Congress considered, and ultimately rejected, providing [FHWA] with the authority to issue a GHG performance measure regulation, but [FHWA] contorted ancillary existing authorities to impose one anyway,” the members argued. “In doing so, [FHWA] impermissibly usurped the Legislative Branch’s authority and promulgated the GHG performance measure without statutory authority delegated by Congress.” 

“Put simply, when [FHWA] established a GHG performance measure regulation, it exceeded the powers Congress authorized. And it did so both at the expense of separation of powers and in violation of the Administrative Procedure Act,” the members continued. 

Senate Republican Leader Mitch McConnell (R-KY) and Senators John Barrasso (R-WY), Mike Braun (R-IN), Katie Britt (R-AL), Ted Cruz (R-TX), Mike Crapo (R-ID), Steve Daines (R-MT), Joni Ernst (R-IA), Deb Fischer (R-NE), Lindsey Graham (R-SC), John Hoeven (R-ND), Cindy Hyde-Smith (R-MS), Cynthia Lummis (R-WY), Roger Marshall, M.D. (R-KS), Markwayne Mullin (R-OK), Pete Ricketts (R-NE), Jim Risch (R-ID), Mike Rounds (R-SD), Marco Rubio (R-FL), Rick Scott (R-FL), Tim Scott (R-SC), Dan Sullivan (R-AK), John Thune (R-SD), Tommy Tuberville (R-AL) and Roger Wicker (R-MS) – as well as U.S. Representatives Sam Graves (R-MO-06), Chairman of the Transportation and Infrastructure Committee, and Rick Crawford (R-AR-01), Chairman of the Highways and Transit Subcommittee – also cosigned the brief. 

Full text of the amicus brief is available here.

Background:

Shortly after the rule was finalized, 21 state attorneys general, including Arkansas, filed litigation challenging the regulation. The U.S. District Court found the Biden administration rule to be illegal, but FHWA appealed the decision to the Sixth Circuit Court of Appeals and it remains under further consideration. 

In April of this year, the U.S. Senate approved a Congressional Review Act (CRA) joint resolution of disapproval overturning the rule by a vote of 53-47. The bipartisan measure was led by Cramer and cosponsored by Boozman, Ranking Member Capito and dozens of their colleagues.

Cotton, Scott, Colleagues introduce bill to sanction Palestinian leadership and institutions that reward terrorism

Washington, D.C. — Senator Tom Cotton (R-Arkansas) and Senator Tim Scott (R-South Carolina) today introduced the PLO and PA Terror Payments Accountability Act, legislation that would impose sanctions on foreign persons and entities that provide payments to Palestinian terrorists and the families of terrorists as part of the Palestine Liberation Organization (PLO) and Palestinian Authority’s (PA) system of terror compensation. 

Senators Ted Cruz (R-Texas), Pete Ricketts (R-Nebraska), Ted Budd (R-North Carolina), Eric Schmitt (R-Missouri), Marco Rubio (R-Florida), Bill Hagerty (R-Tennessee), Kevin Cramer (R-North Dakota), Dan Sullivan (R-Alaska), Rick Scott (R-Florida), John Cornyn (R-Texas), and Lindsey Graham (R-South Carolina) are cosponsoring the legislation. Congressmen Mike Lawler (New York-17) and Doug Lamborn (Colorado-05) are introducing bipartisan companion legislation in the House with 27 cosponsors.

“The Palestinian Authority and the Palestine Liberation Organization continue to support terrorism against Israel by providing hundreds of millions of dollars per year in their reprehensible ‘pay-for-slay’ program. Anti-Semitic Palestinian terrorists know they can expect payment as a reward for killing Israelis and Americans–with thousands of Palestinian terrorists tied to October 7 eligible for these terror payments. Our bill will ensure that the PA, PLO and their institutions that reward acts of terrorism are punished,” said Senator Cotton.

“For years, the Palestinian Authority has incentivized brutal attacks against Israelis—and even American citizens—through its horrific 'pay for slay' policies. Strong words and failed negotiations aren’t enough to stop these acts of terror. We need to actually use the authorities at our disposal to impose real economic pain against those who support and facilitate so-called 'martyr payments,' and I am proud to partner with Senator Cotton and our Republican colleagues to do just that,” said Senator Scott.

Text of the bill may be found here.

The PLO and PA Terror Payments Accountability Act would impose sanctions on:

• Foreign persons who serve as an employee of the PLO and PA that has facilitated the payments, provided payments themselves, or knowingly provided significant financial, technological, or material support and resources as part of the PLO and PA’s system of compensation supporting acts of terrorism. 

• Entities that facilitate the PLO and PA system of compensation supporting acts of terrorism including the Commission of Prisoners and Released Prisoners, the Institute for the Care of the Families of the Martyrs and the Wounded, the Palestine National Fund, and National Association of the Families of the Martyrs of Palestine.

• Foreign financial institutions that participate in a financial transaction that is part of the PLO and PA’s system of compensation supporting acts of terrorism. 

Boozman, Moran, Lankford, Blackburn, Cramer & Braun urge VA to protect VA home loans from costly energy conservation standards

WASHINGTON –– U.S. Senator John Boozman (R-AR), a senior member of the Senate Veterans’ Affairs Committee, joined Ranking Member Jerry Moran (R-KS) and Senators James Lankford (R-OK), Marsha Blackburn (R-TN), Kevin Cramer (R-ND) and Mike Braun (R-IN) to raise concerns to Department of Veterans Affairs (VA) Secretary Denis McDonough about how recently adopted Department of Housing and Urban Development (HUD) and Department of Agriculture (USDA) energy conservation policies could impact the cost of VA home loans for veterans.

On April 26, HUD and USDA announced they would be implementing the 2021 version of the International Energy Conservation Code (IECC) as the minimum energy efficiency standards for the financing of new single and multifamily homes. 

“If adopted by the Department of Veterans Affairs, we are concerned that the revised standards could negatively affect the availability, affordability, and competitiveness of VA home loans for veterans,” wrote the senators. “Declining to finance any loans for new homes that do not meet these increased requirements, the agencies put accessible homeownership in jeopardy for thousands of veterans. Both rental and housing costs have risen at the fastest rates in decades, and any proposals that raise the cost of home building must be meticulously examined.”

“NAHB commends Sen. Moran for urging the VA Secretary to produce the department’s own analysis on how the 2021 IECC would affect housing affordability and the ability of veterans to obtain VA home loans,” said National Association of Home Builders Chairman Carl Harris. “Studies have shown that requiring new construction to adopt to the 2021 IECC can add as much as $31,000 to the price of a new home and that it would require up to 90 years for a home buyer to realize a payback on the added upfront cost of the home. Sen. Moran and the nation’s home builders are concerned that if VA were to adopt the 2021 IECC, it would prevent many of our nation’s veterans from purchasing a new home using a VA home loan.” 

The full text of the letter can be found below.

Dear Secretary McDonough,

We write to raise significant concerns about the Department of Housing and Urban Development’s (HUD) and Department of Agriculture’s (USDA) recently adopted revised energy standards for newly constructed homes insured or guaranteed by their respective Departments.

We are particularly concerned with the impact of the agencies’ final determination, implementing the 2021 version of the International Energy Conservation Code (IECC), on veteran homebuyers. By only financing new homes if they are built to the 2021 IECC standards, HUD and USDA describe the potential for a market where “new construction for Federal Housing Administration borrowers would decline.”  If adopted by the Department of Veterans Affairs (VA), we are concerned that the revised standards could negatively affect the availability, affordability, and competitiveness of VA home loans for veterans.

Recent estimates indicate that even a one thousand dollar increase in home prices would price over one hundred thousand Americans out of the housing market.  As mortgage rates hover around seven percent, the revised standards could lead prospective homeowners to pay tens of thousands of dollars more over the course of a 30-year mortgage. Included in the Regulatory Impact Analysis, HUD and USDA rightly recognize that “lower-income households are less willing than higher-income ones to accept longer payback periods for energy-efficient investments.” Declining to finance any loans for new homes that do not meet these increased requirements, the agencies put accessible homeownership in jeopardy for thousands of veterans.

Both rental and housing costs have risen at the fastest rates in decades, and any proposals that raise the cost of home building must be meticulously examined. Additionally, it is our duty to ensure that veterans have robust access to VA-financed home loans. In turn, we respectfully call your attention to a directive included in the Senate’s Fiscal Year 2025 Military Construction and Veterans Affairs Appropriations Committee Report on the revised energy standards and look forward to VA’s evaluation of how adoption would impact costs for veteran homebuyers, including the availability, affordability, and competitiveness of VA home loans.

Cotton, Colleagues introduce bill to repeal tax on certain firearm purchases

Washington, D.C. — Senator Tom Cotton (R-Arkansas) today introduced the Repealing Illegal Freedom and Liberty Excises (RIFLE) Act, legislation that would remove a burdensome tax imposed on firearms regulated under the National Firearms Act.

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Senators John Barrasso (R-Wyoming), Marsha Blackburn (R-Tennessee), John Cornyn (R-Texas), Kevin Cramer (R-North Dakota), Steve Daines (R-Montana), Deb Fischer (R-Nebraska), Cynthia Lummis (R-Wyoming), Roger Marshall (R-Kansas), Markwayne Mullin (R-Oklahoma), Pete Ricketts (R-Nebraska), Marco Rubio (R-Florida), and Rick Scott (R-Florida) are co-sponsors of the legislation. Congresswoman Ashley Hinson (Iowa-02) introduced companion legislation in the House.

“Law-abiding Americans who exercise their Second Amendment rights should not be subject to unnecessary taxes and restrictions preventing them from doing so. Passed into law in 1934, the National Firearms Act needs to be amended. Our legislation will remove the red tape that places an undue financial burden on would-be gun owners,” said Senator Cotton.

“The federal government should not be placing financial barriers on the inalienable rights of Americans. This unconstitutional tax on certain firearm purchases is a direct violation of the Second Amendment and must be repealed. As the Biden Administration and Democrats push proposals that unfairly target law-abiding gun owners, I will continue to stand up for Iowans’ right to keep and bear arms,” said Congresswoman Hinson.

Text of the legislation may be found here.

Background:

• The 1934 National Firearms Act (NFA) regulates short-barreled shotguns and rifles, fully automatic firearms, suppressors, and a catchall category of explosives. In addition to background checks and registration, NFA regulated items have a $200 tax.

• The ATF has acknowledged the tax was intended “to curtail, if not prohibit, transactions” of firearms. The $200 tax, unchanged since 1934, is equivalent to $4,648 in today’s dollars.

• Since 2018, ownership of NFA regulated items have grown by more than 250% as more sportsmen, shooters and firearm enthusiasts exercise their Second Amendment right.

• The RIFLE Act does not modify the current checks and registration; it solely removes the federally mandated financial burden on law-abiding gun owners.

• The legislation is endorsed by the National Rifle Association and the National Shooting Sports Foundation.