CONGRESS FOR VOTERS

RepublicanSecond Degree Amendment · S.Amdt. 3761· Senate(119-SAMDT-3761)

To prohibit earnings on balances maintained at a Federal Reserve bank by or on behalf of a depository institution.

Rep. Paul
Age: 63 years
Kentucky
Introduced
9/3/2025
Last activity
10/9/2025 — Amendment SA 3761, under the order of 10/9/2025, not having achieved 60 votes in the affirmative, not agreed to in Senate by Yea-Nay Vote. 14 - 83. Record Vote Number: 562.
Sponsored by
Rand Paul
Cosponsors
Republican - 0Democrat - 1
Changes amendment
119-SAMDT-3748
On the bill
119-S-2296 — National Defense Authorization Act for Fiscal Year 2026
  1. Introduced
  2. Failed

What this amendment would do

SA 3761, submitted by Mr. Paul, aims to add a section to bill S. 2296 that prohibits certain Federal Reserve activities.

The amendment intends to change the following:

  • Earnings: It amends the Federal Reserve Act to state that no Federal Reserve bank may pay earnings on balances held by or for a depository institution.

  • Overnight Reverse Repurchase Agreement Facilities: It amends the Federal Reserve Act to state that no Federal Reserve bank may enter into any reverse repurchase agreement or participate in any overnight reverse repurchase agreement facility.

The changes would take effect 180 days after the Act is enacted.

What Congress actually voted on

One recorded vote has been taken on this amendment.

  • The Senate: a vote on a proposed change to the billAmendment Rejected 14–83

    A vote on one change, not on the bill. A bill can collect dozens of these, and losing one does not stop it.

    10/09/2025 · Roll call 562 · recorded as “On the Amendment S.Amdt. 3761 to S.Amdt. 3748 to S. 2296 (No short title on file)”