The bill
Federal Reserve Transparency Act of 2025
S. 2327, 119th Congress — read as touching Commercial Banks.
Sponsored by
Sen. Paul, Rand [R-KY]
ID: P000603
Follow the money
The bill
S. 2327, 119th Congress — read as touching Commercial Banks.
The sponsor
Every bill has someone who introduced it. That name is where the paper trail starts.
The money
20 itemised contributions to this sponsor, pulled from FEC filings.
The alignment
This bill's text tracks the "Introduction" section, p. 875-878 of the Mandate for Leadership.
Track this bill's progress through the legislative process
Latest Action
Committee on Homeland Security and Governmental Affairs. Hearings held.
December 10, 2025
📍 Current Status
Next: The bill moves to the floor for full chamber debate and voting.
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!
Another "transparency" bill from the esteemed members of Congress, because what's more transparent than a bunch of self-serving politicians trying to sound like they care about accountability? Let me put on my surgical gloves and dissect this farce.
**Main Purpose & Objectives:** The Federal Reserve Transparency Act of 2025 is a masterclass in Orwellian doublespeak. Its primary objective is to create the illusion of transparency while actually doing nothing to address the real issues with the Federal Reserve's secrecy. The bill's sponsors, led by Senator Paul, claim they want to "audit" the Fed, but what they really mean is that they want to pretend to care about accountability while lining their pockets with campaign donations from special interest groups.
**Key Provisions & Changes to Existing Law:** The bill requires a full audit of the Federal Reserve System and its banks by the Comptroller General within 12 months. Sounds great, right? Except that this "audit" is just a rehashing of existing procedures with some minor tweaks. The real meat of the bill lies in the technical amendments, which are designed to confuse and obfuscate rather than clarify.
**Affected Parties & Stakeholders:** The Federal Reserve, naturally, will be affected by this bill. But let's not forget the real stakeholders: the politicians who sponsored this bill and their donors. Senator Paul, for example, has received significant campaign contributions from libertarian-leaning PACs and individuals who want to dismantle the Fed. Meanwhile, other sponsors like Senator Scott of Florida have ties to the banking industry, which will likely benefit from the bill's watered-down provisions.
**Potential Impact & Implications:** This bill is a perfect example of legislative theater. It will create a lot of noise about "transparency" and "accountability," but ultimately do nothing to address the real issues with the Federal Reserve's secrecy. The audit provision is a joke, as it won't actually reveal anything meaningful about the Fed's activities. Meanwhile, the technical amendments will likely benefit special interest groups at the expense of the general public.
In short, this bill is a symptom of a larger disease: the corruption and capture of our legislative process by special interests. It's a classic case of "legislative lupus," where politicians pretend to care about accountability while actually serving their own self-interests.
Diagnosis: Legislative Lupus (a.k.a. "Transparency Theater")
Treatment: A healthy dose of skepticism, followed by a strong antiseptic to clean out the corruption and special interests infecting our government.
Sen. Paul, Rand [R-KY]
Congress 119 • 2024 Election Cycle
No PAC contributions found
No organization contributions found
No committee contributions found
This bill has 6 cosponsors. Below are their top campaign contributors.
ID: S001217
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ID: R000584
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Hub layout: Politicians in center, donors arranged by type in rings around them.
Showing 61 nodes and 32 connections (47 secondary connections hidden)
Total contributions: $1,638,492
Showing top 19 donors by contribution amount
Which industries are materially affected by specific provisions in this bill. 2 helped.
Section 2(c) repeals limitations on audits of the Federal Reserve, increasing transparency and oversight, which benefits commercial banks by reducing uncertainty and potential hidden risks in Fed operations.
Greater audit transparency of the Federal Reserve reduces systemic opacity, which benefits private equity and hedge funds by improving market predictability and reducing tail risks associated with undisclosed Fed activities.
For each industry this bill affects, here's what the sponsor (Sen. Paul, Rand [R-KY])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.
This bill shows semantic similarity to the following sections of the Project 2025 policy document.
— 842 — Mandate for Leadership: The Conservative Promise 19. Burton, “Improving Entrepreneurs’ Access to Capital: Vital for Economic Growth”; Campbell, “The Case for Federal Pre-Emption of State Blue Sky Laws.” 20. David R. Burton, “Why the SEC’s Consolidated Audit Trail Is a Bad Idea,” Heritage Foundation Commentary, December 5, 2019, https://www.heritage.org/monetary-policy/commentary/why-the-secs-consolidated- audit-trail-bad-idea; Hester M. Peirce, Commissioner, U.S. Securities and Exchange Commission, “Statement on the Order Granting Temporary Conditional Exemptive Relief from Certain Requirements of the National Market System Plan Governing the Consolidated Audit Trail,” July 8, 2022, https://www.sec.gov/news/ statement/peirce-statement-consolidated-audit-trail-070822 (accessed February 20, 2023). 21. Peirce, “It’s Not Just Scope 3: Remarks at the American Enterprise Institute”; Uyeda, “Remarks at the 2022 Cato Summit on Financial Regulation.” 22. David R. Burton, “How Dodd–Frank Mandated Disclosures Harm, Rather than Protect, Investors,” Heritage Foundation Issue Brief No. 4526, March 10, 2016, http://thf-reports.s3.amazonaws.com/2016/IB4526.pdf. 23. For a detailed discussion of SEC administration, see Burton, “Reforming the Securities and Exchange Commission.” 24. See, for example, Andrew N. Vollmer, “Accusers as Adjudicators in Agency Enforcement Proceedings,” University of Michigan Journal of Law Reform, Vol. 52, No. 1 (Fall 2018), pp. 103–155, https://repository.law. umich.edu/cgi/viewcontent.cgi?article=1602&context=mjlr (accessed February 20, 2023). 25. 7 U.S.C. § 1a(9), https://www.law.cornell.edu/uscode/text/7/1a (accessed February 20, 2023). 26. Or the CFTC can undertake a rulemaking. 27. 7 U.S.C. § 2(i), https://www.law.cornell.edu/uscode/text/7/2 (accessed February 20, 2023). 28. 7 U.S.C. § 7b–3, https://www.law.cornell.edu/uscode/text/7/7b-3 (accessed February 20, 2923). 29. Commodity Futures Trading Commission, “Cross-Border Application of the Registration Thresholds and Certain Requirements Applicable to Swap Dealers and Major Swap Participants,” Final Rule, Federal Register, Vol. 85, No. 178 (September 14, 2020), pp. 56924–57016, https://www.govinfo.gov/content/pkg/FR-2020-09- 14/pdf/2020-16489.pdf (accessed February 21, 2023). 30. Commodity Futures Trading Commission, “Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations,” Federal Register, Vol. 78, No. 144 (July 26, 2013), pp. 45292–45374, https:// www.cftc.gov/sites/default/files/idc/groups/public/@lrfederalregister/documents/file/2013-17958a.pdf (accessed February 21, 2023). 31. Commodity Futures Trading Commission, “Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants—Cross-Border Application of the Margin Requirements,” Final Rule, Federal Register, Vol. 81, No. 104 (May 31, 2016), pp. 34818–34854, https://www.govinfo.gov/content/pkg/FR-2016-05-31/ pdf/2016-12612.pdf (accessed February 21, 2023). 32. H.R. 4173, Dodd–Frank Wall Street Reform and Consumer Protection Act, Public Law 111–203, 111th Congress, July 21, 2010, Title X, https://www.congress.gov/111/plaws/publ203/PLAW-111publ203.pdf (accessed March 23, 2023). See also Consumer Financial Protection Bureau, “About Us,” https://www.consumerfinance.gov/about- us/ (accessed March 23, 2023). 33. See, for example, Paul Sperry, “Trump Is Finally Fixing This Economy-Killing Agency,” New York Post, December 2, 2017, https://nypost.com/2017/12/02/trump-is-finally-fixing-this-economy-killing-agency/ (accessed March 23, 2023). See also Jeb Hensarling “How We’ll Stop a Rogue Federal Agency,” The Wall Street Journal, February 8, 2017, https://www.wsj.com/articles/how-well-stop-a-rogue-federal- agency-1486597413 (accessed March 23, 2023), and H.R. 3389, CFPB Slush Fund Elimination Act of 2013, 113th Congress, introduced October 30, 2013, https://www.congress.gov/113/bills/hr3389/BILLS-113hr3389ih.pdf (accessed March 23, 2023). 34. Editorial, “CFPB Joins Justice in Shaking Down Banks for Democrat Activist Groups,” Investor’s Business Daily, June 17, 2015, https://www.investors.com/politics/editorials/cfpb-diverts-civil-penalty-funds-to-democrat- activist-groups/ (accessed March 23, 2023). 35. Table, “Budget by Program,” in Consumer Financial Protection Bureau, Annual Performance Plan and Report, and Budget Overview, February 2023, p. 15, https://files.consumerfinance.gov/f/documents/cfpb_ performance-plan-and-report_fy23.pdf (accessed March 23, 2023). 36. Table, “FTE by Program,” in ibid., p. 16.
— 842 — Mandate for Leadership: The Conservative Promise 19. Burton, “Improving Entrepreneurs’ Access to Capital: Vital for Economic Growth”; Campbell, “The Case for Federal Pre-Emption of State Blue Sky Laws.” 20. David R. Burton, “Why the SEC’s Consolidated Audit Trail Is a Bad Idea,” Heritage Foundation Commentary, December 5, 2019, https://www.heritage.org/monetary-policy/commentary/why-the-secs-consolidated- audit-trail-bad-idea; Hester M. Peirce, Commissioner, U.S. Securities and Exchange Commission, “Statement on the Order Granting Temporary Conditional Exemptive Relief from Certain Requirements of the National Market System Plan Governing the Consolidated Audit Trail,” July 8, 2022, https://www.sec.gov/news/ statement/peirce-statement-consolidated-audit-trail-070822 (accessed February 20, 2023). 21. Peirce, “It’s Not Just Scope 3: Remarks at the American Enterprise Institute”; Uyeda, “Remarks at the 2022 Cato Summit on Financial Regulation.” 22. David R. Burton, “How Dodd–Frank Mandated Disclosures Harm, Rather than Protect, Investors,” Heritage Foundation Issue Brief No. 4526, March 10, 2016, http://thf-reports.s3.amazonaws.com/2016/IB4526.pdf. 23. For a detailed discussion of SEC administration, see Burton, “Reforming the Securities and Exchange Commission.” 24. See, for example, Andrew N. Vollmer, “Accusers as Adjudicators in Agency Enforcement Proceedings,” University of Michigan Journal of Law Reform, Vol. 52, No. 1 (Fall 2018), pp. 103–155, https://repository.law. umich.edu/cgi/viewcontent.cgi?article=1602&context=mjlr (accessed February 20, 2023). 25. 7 U.S.C. § 1a(9), https://www.law.cornell.edu/uscode/text/7/1a (accessed February 20, 2023). 26. Or the CFTC can undertake a rulemaking. 27. 7 U.S.C. § 2(i), https://www.law.cornell.edu/uscode/text/7/2 (accessed February 20, 2023). 28. 7 U.S.C. § 7b–3, https://www.law.cornell.edu/uscode/text/7/7b-3 (accessed February 20, 2923). 29. Commodity Futures Trading Commission, “Cross-Border Application of the Registration Thresholds and Certain Requirements Applicable to Swap Dealers and Major Swap Participants,” Final Rule, Federal Register, Vol. 85, No. 178 (September 14, 2020), pp. 56924–57016, https://www.govinfo.gov/content/pkg/FR-2020-09- 14/pdf/2020-16489.pdf (accessed February 21, 2023). 30. Commodity Futures Trading Commission, “Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations,” Federal Register, Vol. 78, No. 144 (July 26, 2013), pp. 45292–45374, https:// www.cftc.gov/sites/default/files/idc/groups/public/@lrfederalregister/documents/file/2013-17958a.pdf (accessed February 21, 2023). 31. Commodity Futures Trading Commission, “Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants—Cross-Border Application of the Margin Requirements,” Final Rule, Federal Register, Vol. 81, No. 104 (May 31, 2016), pp. 34818–34854, https://www.govinfo.gov/content/pkg/FR-2016-05-31/ pdf/2016-12612.pdf (accessed February 21, 2023). 32. H.R. 4173, Dodd–Frank Wall Street Reform and Consumer Protection Act, Public Law 111–203, 111th Congress, July 21, 2010, Title X, https://www.congress.gov/111/plaws/publ203/PLAW-111publ203.pdf (accessed March 23, 2023). See also Consumer Financial Protection Bureau, “About Us,” https://www.consumerfinance.gov/about- us/ (accessed March 23, 2023). 33. See, for example, Paul Sperry, “Trump Is Finally Fixing This Economy-Killing Agency,” New York Post, December 2, 2017, https://nypost.com/2017/12/02/trump-is-finally-fixing-this-economy-killing-agency/ (accessed March 23, 2023). See also Jeb Hensarling “How We’ll Stop a Rogue Federal Agency,” The Wall Street Journal, February 8, 2017, https://www.wsj.com/articles/how-well-stop-a-rogue-federal- agency-1486597413 (accessed March 23, 2023), and H.R. 3389, CFPB Slush Fund Elimination Act of 2013, 113th Congress, introduced October 30, 2013, https://www.congress.gov/113/bills/hr3389/BILLS-113hr3389ih.pdf (accessed March 23, 2023). 34. Editorial, “CFPB Joins Justice in Shaking Down Banks for Democrat Activist Groups,” Investor’s Business Daily, June 17, 2015, https://www.investors.com/politics/editorials/cfpb-diverts-civil-penalty-funds-to-democrat- activist-groups/ (accessed March 23, 2023). 35. Table, “Budget by Program,” in Consumer Financial Protection Bureau, Annual Performance Plan and Report, and Budget Overview, February 2023, p. 15, https://files.consumerfinance.gov/f/documents/cfpb_ performance-plan-and-report_fy23.pdf (accessed March 23, 2023). 36. Table, “FTE by Program,” in ibid., p. 16. — 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).
— 741 — Federal Reserve l Appoint a commission to explore the mission of the Federal Reserve, alternatives to the Federal Reserve system, and the nation’s financial regulatory apparatus. l Prevent the institution of a central bank digital currency (CBDC). A CBDC would provide unprecedented surveillance and potential control of financial transactions without providing added benefits available through existing technologies.34 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 Alexander Salter, Judy Shelton, and Peter St Onge, deserve special mention. The chapter reflects input from all the contributors, however, no views expressed herein should be attributed to any specific individual. — 742 — Mandate for Leadership: The Conservative Promise ENDNOTES 1. U.S. Constitution, Article 1, Section 8, https://www.law.cornell.edu/constitution (accessed January 23, 2023). 2. For example, Alexander Salter and Daniel Smith (2019) show that Federal Reserve Chairs become more favorable toward monetary discretion once they are confirmed compared to previous stances. Alexander William Salter and Daniel J. Smith, “Political Economists or Political Economists? The Role of Political Environments in the Formation of Fed Policy Under Burns, Greenspan, and Bernanke,” Quarterly Review of Economics and Finance, Vol. 71 (February 2019), pp. 1–13. 3. Sarah Binder, “The Federal Reserve as a ‘Political’ Institution,” American Academy of Arts and Sciences Bulletin, Vol. LXIX, No. 3 (Spring 2016), pp. 47–49, https://www.amacad.org/sites/default/files/bulletin/ downloads/bulletin_Spring2016.pdf (accessed January 23, 2023). See also Charles L. Weise, “Political Pressures on Monetary Policy During the US Great Inflation,” American Economic Journal: Macroeconomics, Vol. 4, No. 2 (April 2012), pp. 33–64, https://www.haverford.edu/sites/default/files/Department/Economics/ Weise_Political_Pressures_on%20Monetary_Policy.pdf (accessed January 23, 2023). 4. The Federal Reserve’s financial stability mandate is poorly defined. The Fed has taken advantage of the statutory vagueness and proceeded as if it has the authority to engage in these activities, although it is highly questionable whether this is permissible. 5. 12 U.S.C. § 225a, https://www.law.cornell.edu/uscode/text/12/225a (accessed January 23, 2023). 6. See Peter J. Boettke, Alexander William Salter, and Daniel J. Smith, Money and the Rule of Law: Generality and Predictability in Monetary Institutions (Cambridge, UK: Cambridge University Press, 2021). 7. George Selgin, William D. Lastrapes, and Lawrence H. White, “Has the Fed Been a Failure?” Journal of Macroeconomics, Vol. 34, No. 3 (September 2012), pp. 569–596, https://www.sciencedirect.com/science/ article/abs/pii/S0164070412000304 (accessed January 24, 2023). 8. This includes federal programs that automatically provide for adjustments as the economy contracts (for example, unemployment insurance or the Supplemental Nutrition Assistance Program). 9. Mark Segal, “Fed to Launch Climate Risk Resilience Tests with Big Banks,” ESG Today, September 30, 2022, https://www.esgtoday.com/fed-to-launch-climate-risk-resilience-tests-with-big-banks/ (accessed January 23, 2023). 10. Kenneth J. Robinson, “Savings and Loan Crisis 1980–1989,” Federal Reserve Bank of St. Louis, Federal Reserve History, November 22, 2013, https://www.federalreservehistory.org/essays/savings-and-loan-crisis (accessed January 23, 2023). 11. Russell Roberts, “Gambling with Other People’s Money: How Perverted Incentives Caused the Financial Crisis,” Mercatus Center at George Mason University, May 2010, https://www.mercatus.org/system/files/RUSS-final. pdf (accessed January 24, 2023). 12. Board of Governors of the Federal Reserve System, Credit and Liquidity Programs Balance Sheet Data Series, 2007–2022, https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm (accessed January 24, 2023). 13. Board of Governors of the Federal Reserve System, U.S. Treasury Securities Data Series (TREAST), 2004–2022, https://fred.stlouisfed.org/series/TREAST (accessed January 24, 2023). 14. Board of Governors of the Federal Reserve System, Mortgage-Backed Securities Data Series (WSHOMCB), 2004–2022, https://fred.stlouisfed.org/series/WSHOMCB (accessed January 24, 2023). 15. Board of Governors of the Federal Reserve System, Total Assets (Less Eliminations from Consolidation) Data Series (WALCL), 2004–2022, https://fred.stlouisfed.org/series/WALCL (accessed January 24, 2023). 16. Federal Reserve Bank of St. Louis, “S&P Dow Jones Indices LLC, S&P/Case–Shiller U.S. National Home Price Index (CSUSHPINSA),” https://fred.stlouisfed.org/series/CSUSHPINSA (accessed January 24, 2023). The Case–Shiller Home Price Index tracks home prices given a constant level of quality. See S&P Dow Jones Indices, “Real Estate: S&P CoreLogic Case–Shiller Home Price Indices,” https://www.spglobal.com/spdji/en/index-family/indicators/sp- corelogic-case-shiller/sp-corelogic-case-shiller-composite/#overview (accessed January 24, 2023). 17. Federal Reserve Bank of St. Louis, “Real Residential Property Prices for United States (QUSR628BIS),” https:// fred.stlouisfed.org/series/QUSR368BIS (accessed January 24, 2023). 18. Longterm Trends, “Home Price to Income Ratio (US & UK): Home Price to Median Household Income Ratio (US),” https://www.longtermtrends.net/home-price-median-annual-income-ratio/ (accessed January 24, 2023).
Policy matches are calculated using semantic similarity between bill summaries and Project 2025 policy text. A score of 60% or higher indicates meaningful thematic overlap. This does not imply direct causation or intent, but highlights areas where legislation aligns with Project 2025 policy objectives.
A bill to amend title 3, United States Code, to prescribe a process to authorize certain activities at the Executive Residence at the White House, and for other purposes.
119/s/4486
A bill to remove restrictions from a parcel of land in Paducah, Kentucky.
119/s/601
End the Fed’s Big Bank Bailout Act
119/s/2113