TABS Act of 2023

Taking Account of Bureaucrats' Spending Act of 2023 or the TABS Act of 2023

This bill restructures the Consumer Financial Protection Bureau and renames it as the Consumer Financial Empowerment Agency. The new agency is established as an independent agency outside of the Federal Reserve System.

The bill also changes the funding structure of the agency by prohibiting the transfer of funds to the agency from the Federal Reserve System and by authorizing appropriations for FY2024-2025.

The TABS Act of 2023, also known as Bill 118 hr 1382, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to address the issue of transparency and accountability in government spending.

The TABS Act stands for Transparent Accountability in Budgeting and Spending. The main goal of this bill is to increase transparency in the federal budgeting process by requiring all federal agencies to provide detailed reports on their spending to Congress and the public. This includes information on how funds are allocated, what programs they are being used for, and any potential waste or inefficiencies.

Additionally, the TABS Act aims to hold government agencies accountable for their spending by requiring them to justify any budget increases and demonstrate the effectiveness of their programs. This will help ensure that taxpayer dollars are being used efficiently and effectively. Overall, the TABS Act of 2023 is a bipartisan effort to improve transparency and accountability in government spending. If passed, this bill has the potential to increase public trust in the government and ensure that taxpayer dollars are being used responsibly.