HR 3712 · 118th Congress 2023–2025, ended

Digital Dollar Pilot Prevention Act

Introduced May 25, 2023 Originated House Sponsor Alexander X. Mooney R-WV

Fact sheet Spreadsheet

Latest action · May 25, 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. IntroducedMay 25, 2023
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Digital Dollar Pilot Prevention Act

This bill prohibits the Board of Governors of the Federal Reserve System and the Federal Reserve banks from establishing, carrying out, or approving a program to test the feasibility of issuing a central bank digital currency.

Cosponsors 20

Members who signed on, in the order they did. Signatures ran from May 25, 2023 to Nov 13, 2023; 14 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
R-TNAndrew OglesOriginalMay 25, 2023
R-FLBill PoseyOriginalMay 25, 2023
R-VABob GoodOriginalMay 25, 2023
R-FLByron DonaldsOriginalMay 25, 2023
R-WIGlenn GrothmanOriginalMay 25, 2023
R-WYHarriet M. HagemanOriginalMay 25, 2023
R-SCJeff DuncanOriginalMay 25, 2023
R-TNJohn W. RoseOriginalMay 25, 2023
R-TXPete SessionsOriginalMay 25, 2023
R-SCRalph NormanOriginalMay 25, 2023
R-TXRandy K. Weber, Sr.OriginalMay 25, 2023
R-TXRonny JacksonOriginalMay 25, 2023
R-INVictoria SpartzOriginalMay 25, 2023
R-FLW. Gregory SteubeOriginalMay 25, 2023
R-OKJosh BrecheenMay 26, 2023
R-NYNicholas A. LangworthyMay 30, 2023
R-TXKeith SelfJun 9, 2023
R-KYThomas MassieJun 15, 2023
R-NYMichael LawlerAug 22, 2023
R-OHWarren DavidsonNov 13, 2023

Committees 1

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

ChamberCommitteeWhat it did
HouseFinancial Services Committee
Referred May 25, 2023

Actions 2

Everything that happened, newest first.

  1. May 25, 2023Introduced in House
  2. May 25, 2023Referred to the House Committee on Financial Services.

In the Congressional Record 1

Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.

WhereIn the RecordMembersDate
HouseDebate and remarks H3876Alexander X. Mooney R-WVJul 20, 2023

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 I, Section 8 The single subject of this legislation is: Central Bank Digital Currency

The sponsor’s statement, as printed in the Congressional Record, vol. 169, no. 89, May 25, 2023, page H2641.

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.

ProductTitleKindPublished
R47377Federal Reserve: Policy Issues in the 118th CongressReportFeb 6, 2024

Titles 2

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

Official Title as Introduced
To amend the Federal Reserve Act to require an Act of Congress for certain activities related to the issuance of a central bank digital currency, and for other purposes.
Short Title(s) as Introduced
Digital Dollar Pilot Prevention Act

Subjects

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

Text 1

Each version as it was printed, newest first.

  1. May 25, 2023Introduced in House

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

$1 $5 $10

Processed by Stripe in a separate window. LegiList never sees card details.

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.