Big Beautiful Bill Update
AFSA’s Federal Congressional Affairs team has been monitoring U.S. Senate activity around the One Big Beautiful Bill, and hears that the Senate parliamentarian struck the provision that cut the Consumer Financial Protection Bureau’s maximum funding to 0% of the Federal Reserve’s operating expenses. AFSA has not yet heard whether Senators will attempt to place a figure higher than zero in the legislation or attempt alternative language. One option, for example, has been proposed by Sen. Bill Hagerty (R-TN), who is on the Banking Committee. His proposal would place the Bureau under appropriations; however that proposal may also be struck by the parliamentarian. AFSA will continue to monitor the situation and is reaching out to Senate offices on this issue.
June 20th, 2025
