There are two new bills in the U.S. Congress that, if passed and signed into law, will have a direct and beneficial impact on cycling in general (with specific measures aimed at mountain biking).
The first known informally as the "New Transportation Bill" or by it's formal name the Safe, Accountable, Flexible, Efficient Transportation Equity Act-Legacy for Users (SAFETEA-LU (pronounced safety-loo)) will increase funding for programs benefiting cycling by more than $2 billion through 2009.
The bill specifically benefits mountain biking through increased funding to the Recreation Trails Program which provides grants to organizations building multi-use singletrack trails among other types of trails. In addition, there are number of other provisions in the bill that will have an indirect effect on cycling. (AmericaBikes.org has much more information about this bill.)
The second bill (sponsored by two senators in NC) is a proposal to nationalize the International Mountain Bicycling Association's (IMBA) "Take a Kid Mountain Biking Day." For all intents and purposes, this is a feel-good measure that will likely sail through congress. Nonetheless, it legitimizes the efforts put forth by IMBA and will probably have some impact toward raising awareness of mountain biking in general (which is a good thing).
The fact that these types of measures are getting this much national attention and appear likely to be passed is in large part due to the increased efforts of IMBA, among other cycling organizations. In the past year or two IMBA has really become very focused with new leadership, a new look, and a direct and action-oriented advocacy campaign. It's great to see some tangible results connected to the $25 in annual dues I pay each year. I can't say that for most of the associations to which I belong.
Additional sources:
http://www.imba.com/news/news_releases/07_05/07_29_trans_bill.html
http://www.imba.com/news/news_releases/07_05/07_29_kid_biking.html