HR 1382 · 118th Congress 2023–2025, ended

TABS Act of 2023

Introduced Mar 7, 2023 Originated House Sponsor Andy Barr R-KY

Fact sheet Spreadsheet

Latest action · Mar 7, 2023 Referred to the House Committee on Financial Services.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedMar 7, 2023
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

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.

Cosponsors 38

Members who signed on, in the order they did. Signatures ran from Mar 7, 2023 to Apr 11, 2024; 19 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
R-WVAlexander X. MooneyOriginalMar 7, 2023
R-MOAnn WagnerOriginalMar 7, 2023
R-GABarry LoudermilkOriginalMar 7, 2023
R-FLBill PoseyOriginalMar 7, 2023
R-MOBlaine LuetkemeyerOriginalMar 7, 2023
R-WIBryan SteilOriginalMar 7, 2023
R-FLByron DonaldsOriginalMar 7, 2023
R-PADaniel MeuserOriginalMar 7, 2023
R-INErin HouchinOriginalMar 7, 2023
R-ARJ. French HillOriginalMar 7, 2023
R-NYMichael LawlerOriginalMar 7, 2023
R-NEMike FloodOriginalMar 7, 2023
R-TXMonica De La CruzOriginalMar 7, 2023
R-TXRoger WilliamsOriginalMar 7, 2023
R-WIScott FitzgeraldOriginalMar 7, 2023
R-MNTom EmmerOriginalMar 7, 2023
R-OHWarren DavidsonOriginalMar 7, 2023
R-SCWilliam R. Timmons IVOriginalMar 7, 2023
R-CAYoung KimOriginalMar 7, 2023
R-GAAndrew S. ClydeMar 8, 2023
R-TXBeth Van DuyneMar 8, 2023
R-TXBrian BabinMar 8, 2023
R-TNJohn W. RoseMar 8, 2023
R-SCRalph NormanMar 8, 2023
R-GARick W. AllenMar 8, 2023
R-KSRon EstesMar 8, 2023
R-NYAndrew R. GarbarinoMar 24, 2023
R-MNBrad FinstadApr 20, 2023
R-MOMark AlfordApr 20, 2023
R-WIMike GallagherApr 20, 2023
R-INRudy Yakym IIIApr 20, 2023
R-IAZachary NunnApr 20, 2023
R-VAH. Morgan GriffithMay 18, 2023
R-NYNick LaLotaJul 14, 2023
R-FLGus M. BilirakisSep 18, 2023
R-GAEarl L. "Buddy" CarterSep 21, 2023
R-ALMike RogersMar 20, 2024
R-KSTracey MannApr 11, 2024

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseFinancial Services Committee
Referred Mar 7, 2023

Actions 2

Everything that happened, newest first.

  1. Mar 7, 2023Introduced in House
  2. Mar 7, 2023Referred to the House Committee on Financial Services.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Article 1, Section 8 of the United States Constitution. The single subject of this legislation is: 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.

The sponsor’s statement, as printed in the Congressional Record, vol. 169, no. 43, March 7, 2023, page H1150.

CRS reports 1

Congressional Research Service work that CRS links to this bill or the law it became, newest first.

Cite it 1

Products on other subjects that cite it, usually among other measures.

Titles 3

Every title it has carried, official and short, at each stage.

Official Title as Introduced
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.
Short Title(s) as Introduced
TABS Act of 2023
Taking Account of Bureaucrats’ Spending Act of 2023

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 1

Each version as it was printed, newest first.

  1. Mar 7, 2023Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.