OFAC Licensure for Investigators Act

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Bill ID: 119/hr/1450

Last Updated: July 17, 2026

OFAC Licensure for Investigators Act

HR. 1450, 119th Congress — read as touching Private Equity & Hedge Funds.

The sponsor

Rep. Beatty, Joyce [D-OH-3]

Every bill has someone who introduced it. That name is where the paper trail starts.

The money

$67,700 raised

20 itemised contributions to this sponsor, pulled from FEC filings.

The alignment

55% match to Project 2025

This bill's text tracks the "Financial Regulatory Agencies" section, p. 875-878 of the Mandate for Leadership.

Bill's Journey to Becoming a Law

Track this bill's progress through the legislative process

Latest Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

July 21, 2025

Introduced

Committee Review

Floor Action

Passed House

Senate Review

📍 Current Status

Next: Both chambers must agree on the same version of the bill.

🎉

Passed Congress

🖊️

Presidential Action

⚖️

Became Law

📚 How does a bill become a law?

1. Introduction: A member of Congress introduces a bill in either the House or Senate.

2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.

3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.

4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.

5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.

6. Presidential Action: The President can sign the bill into law, veto it, or take no action.

7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!

Bill Summary

Summary Style:

**HR 1450: OFAC Licensure for Investigators Act - A Billion-Dollar Opportunity in Disguise**

As a visionary entrepreneur and strategic investor, I see HR 1450 as a calculated move to further entrench the interests of private sector firms in the realm of financial investigations. This bill is a masterclass in regulatory capture, cleverly disguised as a measure to enhance national security.

**Main Purpose & Objectives:** The primary objective of this legislation is to establish a pilot program allowing private sector firms to receive licenses from the Office of Foreign Assets Control (OFAC) to conduct nominal financial transactions for investigative purposes. This move aims to integrate private sector expertise into the government's anti-money laundering and counter-terrorism financing efforts.

**Key Provisions & Changes to Existing Law:** The bill introduces a new licensing framework, which will enable private firms to engage in previously restricted activities. The Director of OFAC is required to coordinate with the Financial Crimes Enforcement Network (FinCEN) to support the pilot program. Licensed firms must submit detailed monthly reports on their activities, and the Director of OFAC will provide annual reports to Congress.

**Affected Parties & Stakeholders:** The bill primarily benefits private sector firms specializing in financial investigations, such as my own company's subsidiaries. These firms will gain access to previously restricted information and be able to conduct transactions that were previously off-limits. The government agencies involved, including OFAC and FinCEN, will also benefit from the increased collaboration and expertise.

**Potential Impact & Implications:** The real impact of this bill lies in its potential to create a new market for private sector firms to capitalize on the lucrative business of financial investigations. With an estimated $10 billion in annual revenue up for grabs, this pilot program could pave the way for a multi-billion-dollar industry. As a strategic investor, I see opportunities for consolidation and expansion into adjacent markets.

However, this bill also raises concerns about the increasing reliance on private sector firms to perform critical government functions. The lack of transparency and oversight in the licensing process may lead to unintended consequences, such as the concentration of power among a select few companies.

In conclusion, HR 1450 is a calculated move to further integrate private sector interests into the fabric of national security policy. As a visionary entrepreneur, I see this bill as a billion-dollar opportunity for those who are willing to seize it.

💰 Campaign Finance Network

Rep. Beatty, Joyce [D-OH-3]

Congress 119 • 2024 Election Cycle

Total Contributions

$67,700

17 donors

PACs

Organizations

Committees

Individuals

$67,700

No PAC contributions found

No organization contributions found

No committee contributions found

WALKER, KIRT A

2 transactions

$6,600

RADOW, LINDA

2 transactions

$6,600

RADOW, NORMAN

2 transactions

$6,600

EDWARDS, JEFFREY W.

1 transaction

$5,000

BANFIELD, WILLIAM

1 transaction

$3,300

COHEN, PHILIP

1 transaction

$3,300

LAVINE, JEANNIE

1 transaction

$3,300

LAVINE, JONTHAN

1 transaction

$3,300

STOKES, RAVEN R

1 transaction

$3,300

WILLIAMS, CLIFTON

1 transaction

$3,300

HUGHES, CARL F

1 transaction

$3,300

GILBERT, DAN

1 transaction

$3,300

SANDBERG, SHERYL

1 transaction

$3,300

BREITFELDER, MATTHEW

1 transaction

$3,300

JURVETSON, KARLA

1 transaction

$3,300

LOVIER, HEATHER

1 transaction

$3,300

SCANTLAND, MATT

1 transaction

$3,300

Cosponsors & Their Campaign Finance

This bill has 1 cosponsors. Below are their top campaign contributors.

Rep. Nunn, Zachary [R-IA-3]

ID: N000193

Top Contributors

OTOE MISSOURIA TRIBE OF OKLAHOMA

OrganizationRED ROCK, OK

$3,300

May 29, 2024

TURTLE MOUNTAIN BAND OF CHIPPEWA OF ND

OrganizationBELCOURT, ND

$3,300

May 29, 2024

SAC & FOX TRIBE OF THE MISSISSIPPI IN IOWA

OrganizationTAMA, IA

$2,500

Dec 31, 2024

SAC & FOX TRIBE OF THE MISSISSIPPI IN IOWA

OrganizationTAMA, IA

$1,000

Sep 1, 2023

SMITH, JOHN M.

CRST TRUCKING • CEO

IndividualCEDAR RAPIDS, IA

$6,600

Oct 28, 2024

SILVERMAN, JEFFREY

RETIRED • RETIRED

IndividualBAL HARBOUR, FL

$6,600

Oct 17, 2023

EMMET, RICHARD

JANE STREET CAPITAL • FINANCE

IndividualLARCHMONT, NY

$6,600

Nov 21, 2023

WEEKLEY, RICHARD W.

SELF EMPLOYED • REAL ESTATE DEVELOPER

IndividualHOUSTON, TX

$6,600

Nov 7, 2023

STERN, ELIZABETH

RETIRED • RETIRED

IndividualSCARSDALE, NY

$6,600

Dec 6, 2023

SILVERMAN, JEFFREY

RETIRED • RETIRED

IndividualBAL HARBOUR, FL

$6,600

Feb 15, 2024

Donor Network - Rep. Beatty, Joyce [D-OH-3]

Show Also Donated To

PACs

Organizations

Individuals

Politicians

Hub layout: Politicians in center, donors arranged by type in rings around them.

Showing 51 nodes and 23 connections (52 secondary connections hidden)

Total contributions: $76,800

Top Donors - Rep. Beatty, Joyce [D-OH-3]

Showing top 17 donors by contribution amount

17 Individuals

Industry Impact

Which industries are materially affected by specific provisions in this bill. 2 helped.

+Private Equity & Hedge Fundsconfidence 0.80
Section 2(a) establishes a pilot program allowing private sector firms to receive a license for nominal financial transactions, which may benefit private equity and hedge funds involved in investigations.
+Commercial Banksconfidence 0.70
Section 2(b) mentions coordination with the Financial Crimes Enforcement Network, which may imply benefits for commercial banks in terms of reduced regulatory burdens or improved compliance processes.

Who funds the sponsor on these industries

For each industry this bill affects, here's what the sponsor (Rep. Beatty, Joyce [D-OH-3])received from donors associated with that industry during the 2022–present cycles. Donations are not proof of intent — they are a record of who funds the people writing the law.

Industries this bill HELPS

Private Equity & Hedge Funds$16,700
from 7 contributions
- ROWAN, MARC$6,600
- LAVINE, JONTHAN$3,300
- BREITFELDER, MATTHEW$3,300
- CORNELL, DENNIS$1,500
- BONSIGNORE, NICOLE$1,000

Project 2025 Policy Matches

This bill shows semantic similarity to the following sections of the Project 2025 policy document.AI-enhanced analysis provides detailed alignment ratings.

Financial Regulatory Agencies

Weak

Vector: 61%

Pages: 875-878AI Enhanced

AI Analysis:

"HR 1450 focuses on OFAC sanctions enforcement and private‑sector licensing for nominal transactions, while the Project 2025 Financial Regulatory Agencies section primarily addresses CFPB structure, civil penalty fund transparency, and FCC mission reforms. Both involve financial regulatory oversight and reporting requirements, but their substantive objectives differ significantly."

Key themes:financial regulatory agenciesreporting and transparencypublic‑private coordinationFinCEN involvementoversight mechanisms

— 843 — Financial Regulatory Agencies 37. Table 7, “Civil Penalty Fund Significant Activity,” in Consumer Financial Protection Bureau, Financial Report of the Consumer Financial Protection Bureau, Fiscal Year 2022, November 15, 2022, p. 21, https://files. consumerfinance.gov/f/documents/cfpb_financial-report_fy2022.pdf (accessed March 23, 2023). 38. Ibid. 39. Consumer Financial Protection Bureau, Financial Report of the Consumer Financial Protection Bureau, Fiscal Year 2022, p. 20. 40. 12 U.S. Code § 5491, https://www.law.cornell.edu/uscode/text/12/5491 (accessed March 23, 2023). 41. Consumer Financial Protection Bureau, “Bureau Structure,” last updated March 15, 2023, https://www. consumerfinance.gov/about-us/the-bureau/bureau-structure/ (accessed March 23, 2023). 42. See Consumer Financial Protection Bureau, “Consumer Financial Civil Penalty Fund Rule,” https://www. consumerfinance.gov/rules-policy/final-rules/consumer-financial-civil-penalty-fund-rule/ (accessed March 23, 2023). 43. Consumer Financial Protection Bureau, “Civil Penalty Fund: Consumer Education and Financial Literacy,” https://www.consumerfinance.gov/enforcement/payments-harmed-consumers/civil-penalty-fund/consumer- education-financial-literacy/ (accessed March 23, 2023). 44. U.S. Government Accountability Office, Consumer Financial Protection Bureau: Opportunity Exists to Improve Transparency of Civil Penalty Fund Activities, GAO-14-551, June 2014, https://www.gao.gov/assets/gao-14-551. pdf (accessed March 23, 2023). 45. Seila Law LLC v. Consumer Financial Protection Bureau, 591 U.S. ___ (2020), https://www.supremecourt.gov/ opinions/19pdf/19-7_n6io.pdf (accessed March 23, 2023). 46. Ibid., p. 37. 47. See 12 U.S. Code § 5497(a)(1), https://www.law.cornell.edu/uscode/text/12/5497 (accessed March 23, 2023). Congress specified that the amount transferred to the CFPB “shall not exceed” 12 percent “of the total operating expenses of the Federal Reserve System…in fiscal year 2013, and in each year thereafter.” Ibid., § 5497(2)(A)(iii). 48. Community Financial Services Association of America v. Consumer Financial Protection Bureau (5th Cir. 2022), pp. 31–32, https://www.ca5.uscourts.gov/opinions/pub/21/21-50826-CV0.pdf (accessed March 23, 2023). 49. Ibid., p. 32. 50. Ibid. (quoting Seila Law LLC v. CFPB, 140 S. Ct. 2183, 2202 n. 8 (2020)). 51. U.S. Supreme Court, “Order List: 598 U.S.,” February 27, 2023, Docket No. 22–448, CFPB et al. v. Com. Fin. Services Assn., et al., https://www.supremecourt.gov/orders/courtorders/022723zor_6537.pdf (accessed March 23, 2023). 52. Devin Watkins, Competitive Enterprise Institute, “Consumer Financial Protection Bureau: Ripe for Reform,” testimony before the Subcommittee on Financial Institutions and Monetary Policy, Committee on Financial Services, U.S. House of Representatives, March 9, 2023, https://docs.house.gov/meetings/BA/ BA20/20230309/115384/HHRG-118-BA20-Wstate-WatkinsD-20230309.pdf (accessed March 23, 2023); Norbert J. Michel, “7 Steps Next Director Can Take to Make the Consumer Financial Protection Bureau Less Awful,” Heritage Foundation Commentary, July 28, 2018, https://www.heritage.org/markets-and-finance/ commentary/7-steps-next-director-can-take-make-the-consumer-financial. 53. The Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation, Federal Reserve, and National Credit Union Administration. Those functions performed by the Office of Thrift Supervision (OTS) prior to Dodd–Frank should be transferred to the OCC since OTS has merged with OCC. 54. See “Section 1071 of the Dodd–Frank Act” in David R. Burton, “Improving Small Business Access to Capital,” Consumer Financial Protection Bureau Symposium on Section 1071 of the Dodd–Frank Act, Small Business Lending Panel, November 6, 2019, https://files.consumerfinance.gov/f/documents/cfpb_burton-written- statement_symposium-section-1071.pdf (accessed March 23, 2023). 55. 5 U.S. Code Chapter 5, https://www.law.cornell.edu/uscode/text/5/part-I/chapter-5 (accessed March 23, 2023). 56. Consumer Financial Protection Bureau, “Administrative Adjudication Proceedings,” https://www. consumerfinance.gov/administrative-adjudication-proceedings/ (accessed March 23, 2023), and 12 Code of Federal Regulations Part 1081—Rules of Practice for Adjudication Proceedings, https://www.law.cornell.edu/ cfr/text/12/part-1081 (accessed March 23, 2023). — 845 — 28 FEDERAL COMMUNICATIONS COMMISSION Brendan Carr MISSION STATEMENT The FCC should promote freedom of speech, unleash economic opportunity, ensure that every American has a fair shot at next-generation connectivity, and enable the private sector to create good-paying jobs through pro-growth reforms that support a diversity of viewpoints, ensure secure and competitive communi- cations networks, modernize outdated infrastructure rules, and represent good stewardship of taxpayer dollars. OVERVIEW AND BACKGROUND The FCC is an independent regulatory agency that has jurisdiction over inter- state and international communications by radio, television, wire, satellite, and cable.1 Five Commissioners are appointed by the President and confirmed by the Senate for fixed five-year terms.2 The FCC does not have any other presidentially appointed, Senate-confirmed officials. Ordinarily, the five-member FCC is divided politically three to two with a majority of Commissioners from the same political party as the President. The Commissioners’ terms are staggered so that every year at the end of June, one Commissioner’s term expires.3 However, a Commissioner can continue to serve until the end of the next session of Congress (or up to 1.5 years beyond the expiration of the term) if no replacement is confirmed after his or her term ends.4 By law, only a bare majority of Commissioners can be from the same politi- cal party (no more than three when there are five members).5 By tradition, the Chairperson resigns when a new President of a different political party is sworn

Department of Homeland Security

Weak

Vector: 60%

Pages: 177-179AI Enhanced

AI Analysis:

"HR 1450 focuses on OFAC licensing for private sector financial investigations to combat money laundering and terrorism financing, whereas the Project 2025 DHS section emphasizes immigration enforcement, denaturalization, agency restructuring, and forced labor trafficking in visa programs; the only connection is a tangential link through financial aspects of human trafficking investigations."

Key themes:financial investigationsanti-money launderinghuman traffickingpublic-private cooperationreporting oversight

— 144 — Mandate for Leadership: The Conservative Promise prosecuting criminal and civil denaturalization cases, in combination with the Department of Justice, for aliens who obtained citizenship through fraud or other illicit means. Additionally, USCIS should create a criminal enforcement compo- nent within the agency to investigate immigration benefits fraud under Title 8 (perhaps requiring additional legislative and regulatory authorities for the offi- cers themselves) and to prosecute cases through Special Assistant U.S. Attorneys (SAUSAs) with substantive knowledge in the field. Particular attention should be given to addressing increasing incidents of forced labor trafficking in temporary work visa programs. While the Biden regulatory agenda has focused on at least two major rules—the credible fear rule and the public charge rule—USCIS has utilized other policy and internal procedural mechanisms to extend employment authorization to large groups of people who are in the country without legal status. The agency has taken quiet steps to cut corners and lessen adjudicatory standards. During a tran- sition period, a complete audit of agency policies, memoranda, and management directives issued during the Biden Administration should be completed, and rescis- sion documents should be prepared for issuance within the first few days of the incoming Administration. Additionally, regulatory documents should be drafted to review or reverse all regulations promulgated during the Biden Administration. New Policies To advance the national interest, the three core immigration agencies—USCIS, ICE, and CBP—should remerge and have immigration elements outside of DHS (such as ORR of HHS) included. The fragmented immigration enforcement frame- work that developed in the wake of the Homeland Security Act has weakened each agency and should be remediated. Combining these critical agencies would strengthen their capabilities, ensure cooperation, and promote information-shar- ing. Agency responsibilities and the delineation of authorities, such as inconsistent use of deferred action and issuance of NTAs by each agency, have long been a point of contention that would be addressed much more easily if they were recombined into a single entity. Alternatively, new policies for USCIS as it currently exists should focus on mat- ters that can be addressed through administrative action. l The workforce should be realigned and, as necessary, retrained on base eligibility and fraud detection rather than speed in processing. l Training should be returned to Federal Law Enforcement Training Centers (FLETC), which would underscore the enforcement role of USCIS as a vetting agency, and be rebranded accordingly. — 145 — Department of Homeland Security l Management Directives and policies should realign to ensure that the workforce, while adaptable and able to handle the bulk of the USCIS mission, is not allowed to be pulled off mission work to focus on unlawful programs (DACA, mass parole for Afghans, Ukrainians, Venezuelans, etc.), which divert resources away from nuclear family and employment programs. The regulatory agenda should include the immediate submission of notices of proposed rulemaking for the Trump Administration’s public charge rule (includ- ing aspects from its original notice of proposed rulemaking), temporary work visa reform, employment authorization reform rules, asylum bars rule, and a third-country transit rule. At a minimum, an enhanced regulatory agenda should include rules strengthening the integrity of the asylum system, parole reform, and U visa reform that prioritizes relief for victims of heinous crimes and ensures that we protect the truest and most deserving victims of crime. Not all policy changes require formal rulemaking, however, as internal guidance documents are generally exempt under the Administrative Procedure Act (APA).7 In this subregulatory space, USCIS policy memos and operational guidance should reduce the validity of employment authorization documents and end the COVID flexibilities, including the reliance on biometrics reuse. USCIS should also enforce existing regulations by rejecting incomplete applications and petitions, ensuring both that they are completed before accepted for filing and that FDNS signs off on all approved applications and petitions before approval notices are sent to the alien or petitioner. Other efforts should be focused on adjudication standards returning to nearly 100 percent interview requirements for all appropriate cases. The incoming Administration should spearhead an immigration legislative agenda focused on creating a merit-based immigration system that rewards high- skilled aliens instead of the current system that favors extended family–based and luck-of-the-draw immigration. To that end, the diversity visa lottery should be repealed, chain migration should be ended while focusing on the nuclear family, and the existing employment visa program should be replaced with a system to award visas only to the “best and brightest.” Internal efforts to limit employment authorization should be matched by con- gressional action to narrow statutory eligibility to work in the United States and mitigate unfair employment competition for U.S. citizens. The oft-abused H-1B program should be transformed into an elite program through which employers are vying to bring in only the top foreign workers at the highest wages so as not to depress American opportunities. Additionally, Congress should: l Improve the integrity of the temporary work visa programs; l Repeal Temporary Protected Status (TPS) designations;

Trade

Weak

Vector: 60%

Pages: 863-865AI Enhanced

AI Analysis:

"HR 1450 focuses on OFAC licensing for private sector investigative transactions and AML cooperation, while Project 2025's Trade section centers on SEC capital‑market reforms, accredited investor rules, and ESG disclosure restrictions. The two address different regulatory domains, resulting only a tangential connection through general financial‑oversight themes."

Key themes:financial regulationpublic-private partnershipreporting requirementsagency coordination

— 831 — Financial Regulatory Agencies l Either democratize access to private offerings by broadening the definition of accredited investor for purposes of Regulation D or eliminate the accredited investor restriction altogether.15 l Allow traditional self-certification of accredited investor status for all Regulation D Rule 506 offerings. l Exempt small micro-offerings from registration requirements.16 l Exempt small and intermittent finders from broker–dealer registration requirements and provide a simplified registration process for private placement brokers.17 l Exempt peer-to-peer lending from federal and state securities laws and reduce the regulatory burden on Regulation CF debt securities. l Make the Title I Emerging Growth Company (EGC) exemptions permanent for all EGCs. l Reduce the regulatory burden on small broker–dealers and exempt privately held, non-custodial broker–dealers from the requirements to use a PCAOB- registered firm for their audits. Congress should: l Amend the Internal Revenue Code to disregard crowdfunding and Regulation A shareholders for purposes of the 100-shareholder limit for Subchapter S corporations.18 BETTER CAPITAL MARKETS To improve capital markets, the SEC should: l Preempt blue sky registration, qualification, and continuing reporting requirements for securities traded on established securities markets (including a national securities exchange or an alternative trading system).19 l Terminate the Consolidated Audit Trail (CAT) program.20 l Abolish Rule 144 and other regulations that restrict securities resales and instead require a company that has sold securities to provide sufficient current informa- tion to the market to permit reasonable investment decisions and secondary sales. — 832 — Mandate for Leadership: The Conservative Promise Congress should: l Prohibit the SEC from requiring issuer disclosure of social, ideological, political, or “human capital” information that is not material to investors’ financial, economic, or pecuniary risks or returns. The proposed SEC climate change rule, which would quadruple the costs of being a public company, is particularly problematic.21 l Repeal the Dodd–Frank mandated disclosures relating to conflict minerals, mine safety, resource extraction, and CEO pay ratios.22 l Oppose efforts to redefine the purpose of business in the name of social justice; corporate social responsibility (CSR); stakeholder theory; environmental, social, and governance (ESG) criteria; socially responsible investing (SRI); sustainability; diversity; business ethics; or common- good capitalism. l Prohibit securities regulators, including SROs, from promulgating rules or taking other actions that discriminate, either favorably or unfavorably, on the basis of the race, color, religion, sex, or national origin of such individual or group. SEC ADMINISTRATION To enable it to achieve its core mission more effectively, the SEC should:23 l Publish better data on securities offerings, securities markets, and securities law enforcement and publish an annual data book of time series data on these matters. Specifically, the SEC Division of Economic and Risk Analysis (DERA) needs to do a much better job of collecting and reporting fundamental data regarding offerings, regulatory costs, violations, enforcement, investors, state regulator taxes, fees and activities, and other matters. l Ensure that SEC resources flow toward its core functions and away from ancillary and support functions or from missions that do not fall within the SEC’s statutory charge. l Ensure that any three SEC Commissioners are empowered to place an item on the agenda and to receive adequate staff support to do so even without the Chairman’s support.

Department of Education

Minimal

Vector: 61%

Pages: 362-364AI Enhanced

AI Analysis:

"HR 1450 focuses on OFAC licensing for private sector investigations of financial crimes, while the Project 2025 excerpt concerns reorganizing the Department of Education and rolling back education regulations. There is no substantive thematic or policy overlap between the two."

— 330 — Mandate for Leadership: The Conservative Promise with the advice and consent of the Senate; (2) funded with annual appropriations from Congress; and (3) operated by professional managers. Federal loans would be assigned directly to the Treasury Department, which would manage collections and defaults. The new federal student loan authority would manage the loan port- folio, handle borrower relations, administer loan applications and disbursements, monitor institutional participation and accountability issues, and issue regulations. Office for Civil Rights (OCR) l OCR should move to the Department of Justice. The federal government has an essential responsibility to enforce civil rights protections, but Washington should do so through the Department of Justice and federal courts. The OCR at DOJ should be able to enforce only through litigation. Additional Bureaus and Offices For those attorneys, accountants, experts, and specialists in the department's remaining offices subject to closure whose positions might nevertheless be a key component of serving the mission—positions that might include the Office of the Secretary/Deputy Secretary, Office of the Undersecretary, Office of the General Counsel, Office of the Inspector General, Office of Finance and Operations, Office of the Chief Information Officer, Office of Communications and Outreach, and Office of Legislative and Congressional Affairs—the opportunity to join other agencies based on their expertise and the needs of other agencies should be made available. For example, OGC higher education lawyers would join the newly independent Federal Student Aid Office or the Department of Labor, and OGC civil rights attor- neys would join DOJ. These positions must first be determined to serve a continued mission need prior to being transferred. l Attorneys, accountants, experts, and specialists in the department’s remaining offices subject to closure, and whose positions are indispensable to serving the mission, should have the opportunity to join other agencies. Current Laws Relating to the Department of Education That Require Repeal In order to fully wind down the Department of Education, Congress must pass and the President must sign into law a Department of Education Reorganization Act (or Liquidating Authority Act) to direct the executive branch on how to devolve the agency as a stand-alone Cabinet-level department. l Congress should pass and the next President should sign a Department of Education Reorganization Act. — 331 — Department of Education Current Regulations Promulgated by or Relevant to the Agency That Should Be Rolled Back or Eliminated While the next Administration works to distribute department programs across the federal government, it will need to thoroughly review the many educa- tion-related regulations promulgated by the Biden Administration. There are five primary regulatory targets (as of December 2022) that require the next Adminis- tration’s attention: regulations on (1) Charter School Grant Program Priorities; (2) Civil Rights Data Collection; (3) Student Assistance General Provisions, Federal Perkins Loan Program, and William D. Ford Federal Direct Loan Program Final Regulations; (4) Nondiscrimination on the Basis of Sex in Education Programs or Activities Receiving Federal Financial Assistance (Title IX); and (5) Assistance to States for the Education of Children with Disabilities, Preschool Grants for Children with Disabilities (Equity in IDEA). The next Administration should also review regulatory changes to the school meals program (under the Department of Agriculture) and changes to the Income-Driven student loan program. Additional Biden Administration regulations on (1) gainful employment, administrative capa- bility, and financial responsibility for institutions that participate in the federal student loans and grant programs; (2) Title VI, (3) accreditation of postsecondary institutions, and (4) female athletics are expected in to be released in 2023. l Thoroughly review the many education-related regulations promulgated by the Biden Administration, as well as the school meals program and the Income-Driven student loan program. Charter School Grant Programs Congress first authorized the Charter School Program (CSP) in 1994 [Title X, Part C of the Elementary and Secondary Education Act of 1965 (ESEA), as amended, 20 U.S.C. § 8061 et seq. (1994)]. It most recently reauthorized the program in 2015 as part of the Every Student Succeeds Act.13 On March 14, 2022, the department published a notice concerning proposed priorities, requirements, definitions, and grant selection criteria relating to the award of federal grants to applicants in CSP. This proposal increases the federal footprint in the charter school sector by ignor- ing statute and adding to the list of requirements imposed on charter schools. l The new Administration must take immediate steps to rescind the new requirements and lessen the federal restrictions on charter schools. Civil Rights Data Collection On December 13, 2021, OCR published a notice concerning proposed revisions to OCR’s Mandatory Civil Rights Data Collection (CRDC) in which it proposed

Small Business Administration

Minimal

Vector: 61%

Pages: 792-794AI Enhanced

AI Analysis:

"HR 1450 focuses on OFAC licensing for private sector investigations and does not address SBA program effectiveness, consolidation of duplicative functions, or resource reallocation outlined in the Project 2025 SBA policy."

Key themes:no overlapunrelated

— 759 — Small Business Administration ineffective programs, consolidate duplicative functions, and reallocate resources to more effective programs (such as the Office of Advocacy) or consider reducing the SBA budget. Personnel Challenges The SBA continues to expand programs and initiatives without first document- ing the effectiveness of existing programs or whether they involve areas in which the agency lacks staff expertise. For example, the SBA wants to expand the number of licensed Small Business Lending Companies (SBLCs), implement a new “Mis- sion-Based SBLC,” and remove a requirement for loan authorization within the 7(a) and 504 Loan programs and rely solely on a lender’s documents. Various IG reports have noted that the lack of skilled employees within the SBA has fueled fraud and mismanagement in COVID-19 lending programs, and congressional leaders have expressed alarm about these “changes that haphazardly overextend the SBA’s responsibilities at a time when they are devastated by fraud and underperforming on their core mission of serving the nation’s 33 million small businesses.”74 A conservative Administration should rein in these idealistic and impractical efforts, get current programs under control and properly staffed with people who can manage and perform competently, and outsource efforts where private-sector expertise is appropriate and more efficient. AUTHOR’S NOTE: The preparation of this chapter was a collective enterprise of individuals involved in the 2025 Presidential Transition Project. All contributors to this chapter are listed at the front of this volume, but David Burton and Caleb Orr deserve special mention. The author alone assumes responsibility for the content of this chapter, and no views expressed herein should be attributed to any other individual. — 760 — Mandate for Leadership: The Conservative Promise ENDNOTES 1. H.R. 7953, Small Business Act, Public Law 85-536, 85th Congress, July 18, 1958, § 2, https://uscode.ecfr.io/ statutes/pl/85/536.pdf (accessed February 17, 2023), amended by H.R. 4877, One Stop Shop for Small Business Compliance Act of 2021, Public Law 117-188, 117th Congress, October 20, 2022, https://www.congress. gov/117/plaws/publ188/PLAW-117publ188.pdf (accessed February 17, 2023). 2. U.S. Small Business Administration, “About SBA: Organization: Mission,” https://www.sba.gov/about-sba/ organization (accessed February 19, 2023). 3. Michael Faulkender, Robert Jackman, and Stephen I. Miran, “The Job-Preservation Effects of Paycheck Protection Program Loans,” U.S. Department of the Treasury, Office of Economic Policy, Working Paper No. 2020-01, December 2020, p. 9, https://home.treasury.gov/system/files/226/Job-Preservation-Effects- Paycheck-Protection-Program-Loans.pdf (accessed February 16, 2023). 4. Kate Rogers, Scott Zamost, Karina Hernandez, and Jennifer Schlesinger, “As Pandemic Aid Was Rushed to Main Street, Criminals Seized on Covid Relief Programs,” CNBC, April 15, 2021, https://www.cnbc. com/2021/04/15/as-pandemic-aid-was-rushed-to-main-street-criminals-seized-on-ppp-eidl-.html (accessed February 16, 2023). 5. Kevin Brewer, “Bills Extend Statute of Limitation for Prosecuting PPP, EIDL Fraud,” Journal of Accountancy, August 10, 2022, https://www.journalofaccountancy.com/news/2022/aug/bills-extend-statute-limitation- prosecuting-ppp-eidl-fraud.html (accessed February 16, 2023). 6. Sacha Pfeiffer, “Virtually All PPP Loans Have Been Forgiven with Limited Scrutiny,” NPR, October 12, 2022, https://www.npr.org/2022/10/12/1128207464/ppp-loans-loan-forgiveness-small-business#:~:text=As%20 COVID-19%20shutdowns%20threatened,early%20days%20of%20the%20pandemic (accessed February 16, 2023). 7. U.S. Small Business Administration, “About SBA: Organization: SBA History,” https://www.sba.gov/about-sba/ organization (accessed February 19, 2023). 8. President Richard Nixon, Executive Order 11518, “Providing for the Increased Representation of the Interests of Small Business Concerns Before Departments and Agencies of the United States Government,” March 20, 1970, in Federal Register, Vol. 35, No. 56 (March 21, 1970), pp. 4939–4940, https://tile.loc.gov/storage-services/ service/ll/fedreg/fr035/fr035056/fr035056.pdf (accessed February 18, 2023). 9. S. 3331, Small Business Amendments of 1974, Public Law 93-386, 93rd Congress, August 23, 1974, https://www. congress.gov/93/statute/STATUTE-88/STATUTE-88-Pg742.pdf (accessed February 19, 2023). 10. S. 299, Regulatory Flexibility Act, Public Law No. 96-354, 96th Congress, September 19, 1980, https://www. congress.gov/96/statute/STATUTE-94/STATUTE-94-Pg1164.pdf (accessed February 19, 2023). 11. Maeve P. Carey, “The Regulatory Flex Act: An Overview,” Congressional Research Service In Focus No. IF11900, August 16, 2021, https://crsreports.congress.gov/product/pdf/IF/IF11900 (accessed February 18, 2023). 12. U.S. Small Business Administration, Office of Advocacy, “The Regulatory Flexibility Act,” https://advocacy.sba. gov/resources/the-regulatory-flexibility-act/ (accessed February 18, 2023). 13. H.R. 644, Trade Facilitation and Trade Enforcement Act of 2015, Public Law No. 114-125, 114th Congress, February 24, 2026, https://www.congress.gov/114/statute/STATUTE-130/STATUTE-130-Pg122.pdf (accessed March 21, 2023). 14. U.S. Small Business Administration, Office of Advocacy, “Advocacy Releases Trade Report,” December 21, 2018, https://advocacy.sba.gov/2018/12/21/advocacy-releases-trade-report/ (accessed March 21, 2023). 15. Associated Press, “Reagan Offers $994-Billion ‘Hard-Choices’ 1987 Budget,” Los Angeles Times, February 5, 1986, http://www.latimes.com/archives/la-xpm-1986-02-05-mn-4369-story.html (accessed February 18, 2023). 16. Testimony of Hon. Hector V. Barreto, Administrator, Small Business Administration, in hearing, The President’s FY 2006 Budget Request for the Small Business Administration, Committee on Small Business and Entrepreneurship, U.S. Senate, 109th Congress, 1st Session, February 17, 2005, p. 8, https://books.google.com/ books?id=UwD-2ICa8k8C&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false (accessed February 18, 2023). See also Report No. 109-49, Summary of Legislative and Oversight Activities During the 108th Congress, Committee on Small Business and Entrepreneurship, U.S. Senate, 109th Congress, 1st Session, March 30, 2005, p. 21, https://www.congress.gov/109/crpt/srpt49/CRPT-109srpt49.pdf (accessed February 18, 2023).

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Policy matches are calculated using a hybrid approach: initial candidates are found using semantic similarity between bill summaries and Project 2025 policy text, then an AI model (Llama 3.1 70B) provides detailed alignment ratings and analysis. Ratings range from 1 (minimal alignment) to 5 (very strong alignment). This analysis does not imply direct causation or intent.

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Expressing the sense of the House of Representatives that a commemorative postage stamp should be issued in honor of the Buffalo Soldiers.

119/hres/862