TABS Act of 2023

Hozzl · 2024-01-08T23:56:17Z

Explore the details of House Bill 1382 TABS Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

1/8/2024, 11:56 PM

Summary of Bill HR 1382

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.

Congressional Summary of HR 1382

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.

Read the Full Bill

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Current Status of Bill HR 1382

Bill HR 1382 is currently in the status of Bill Introduced since March 7, 2023. Bill HR 1382 was introduced during Congress 118 and was introduced to the House on March 7, 2023. Bill HR 1382's most recent activity was Referred to the House Committee on Financial Services. as of March 7, 2023

Bipartisan Support of Bill HR 1382

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 1382

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 1382

TABS Act of 2023

Taking Account of Bureaucrats’ Spending Act of 2023

To change the Bureau of Consumer Financial Protection into an independent agency named the Consumer Financial Empowerment Agency, to transition the Agency to the regular appropriations process, and for other purposes.