CONGRESS FOR VOTERS

RepublicanBill · H.R. 654· House(119-HR-654)

TABS Act of 2025

Rep. Barr
Age: 53 years
Kentucky
Introduced
1/23/2025
Last activity
1/23/2025 — Referred to the House Committee on Financial Services.
Sponsored by
Andy Barr
Cosponsors
Republican - 16Democrat - 0
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "Taking Account of Bureaucrats' Spending Act of 2025," proposes significant changes to the Consumer Financial Protection Bureau. It seeks to rename the Bureau to the Consumer Financial Empowerment Agency and reclassify it as an independent agency rather than an independent bureau within the Federal Reserve System. The legislation also changes the appointment process for the agency's leadership to be appointed by the President. Furthermore, it moves the agency into the regular congressional appropriations process for its funding. Finally, the bill includes numerous technical amendments to various existing laws to reflect these changes in name and status.

Yes

  • Does this make the government pay for what it commits to?+1

    The bill subjects the Agency's budget to the standard congressional appropriations process rather than allowing it to self-fund through regulatory fees.

  • Does this make what the government does easier for the public to see?+1

    Moving the agency into the regular appropriations process increases public and congressional transparency regarding its budget requests and levels.

The opposite· 3 of 5

  • Does this give people more protection from unfair business practices?-3

    The bill strikes specific examination provisions and removes the requirement for the agency to be located in cities with Federal Reserve banks, which may reduce oversight efficacy.

  • Does this reduce what the federal government spends?-2

    By transitioning the Agency to the regular congressional appropriations process, it subjects its funding to annual political and budgetary oversight.

  • Would households on low incomes be better off under this?-2

    The changes to the agency's funding and examination powers may reduce the protection of low-income consumers from predatory financial practices.