[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2843 Introduced in Senate (IS)]
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119th CONGRESS
1st Session
S. 2843
To require congressional approval for all capital expenditures
requested by the Federal Reserve, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
September 17 (legislative day, September 16), 2025
Mr. Scott of Florida introduced the following bill; which was read
twice and referred to the Committee on Banking, Housing, and Urban
Affairs
_______________________________________________________________________
A BILL
To require congressional approval for all capital expenditures
requested by the Federal Reserve, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Federal Reserve Accountability for
Major Expenditures Act'' or the ``FRAME Act''.
SEC. 2. JOINT RESOLUTION OF DISAPPROVAL FOR FEDERAL RESERVE CAPITAL
EXPENDITURES.
(a) In General.--Notwithstanding any other provision of law, the
Federal Reserve may not make any capital expenditure in excess of
$100,000,000 if, within 60 calendar days after the date on which
Congress receives a request for such capital expenditure, there is
enacted into law a joint resolution disapproving the capital
expenditure.
(b) Contents of Joint Resolution.--For the purpose of this section,
the term ``joint resolution'' means only a joint resolution--
(1) that is introduced not later than 3 calendar days after
the date on which the request described in subsection (a) is
received by Congress;
(2) which does not have a preamble;
(3) the title of which is as follows: ``Joint resolution
relating to the disapproval of Federal Reserve capital
expenditure under the FRAME Act''; and
(4) the matter after the resolving clause of which is as
follows: ``That Congress disapproves the capital
expenditure.''.
(c) Fast Track Consideration in House of Representatives.--
(1) Reporting and discharge.--Any committee of the House of
Representatives to which a joint resolution is referred shall
report it to the House not later than 20 calendar days after
the date of receipt of the request described in subsection (a).
If a committee fails to report the joint resolution within that
period, the committee shall be discharged from further
consideration of the joint resolution and the joint resolution
shall be referred to the appropriate calendar.
(2) Proceeding to consideration.--After each committee
authorized to consider a joint resolution reports it to the
House or has been discharged from its consideration, it shall
be in order, not later than the 24th day after Congress
receives a request described in subsection (a), to move to
proceed to consider the joint resolution in the House. All
points of order against the motion are waived. Such a motion
shall not be in order after the House has disposed of a motion
to proceed on the joint resolution. The previous question shall
be considered as ordered on the motion to its adoption without
intervening motion. The motion shall not be debatable. A motion
to reconsider the vote by which the motion is disposed of shall
not be in order.
(3) Consideration.--The joint resolution shall be
considered as read. All points of order against the joint
resolution and against its consideration are waived. The
previous question shall be considered as ordered on the joint
resolution to its passage without intervening motion except two
hours of debate equally divided and controlled by the proponent
and an opponent. A motion to reconsider the vote on passage of
the joint resolution shall not be in order.
(d) Fast Track Consideration in Senate.--
(1) Placement on calendar.--Upon introduction in the
Senate, a joint resolution shall be placed immediately on the
calendar.
(2) Floor consideration.--
(A) In general.--Notwithstanding Rule XXII of the
Standing Rules of the Senate, it is in order at any
time during the period beginning on the 16th day after
the date on which Congress receives a request described
in subsection (a) and ending on the 24th day after the
date on which Congress receives a request described in
subsection (a) (even though a previous motion to the
same effect has been disagreed to) to move to proceed
to the consideration of the joint resolution, and all
points of order against the joint resolution (and
against consideration of the joint resolution) are
waived. The motion to proceed is not debatable. The
motion is not subject to a motion to postpone. A motion
to reconsider the vote by which the motion is agreed to
or disagreed to shall not be in order. If a motion to
proceed to the consideration of the resolution is
agreed to, the joint resolution shall remain the
unfinished business until disposed of.
(B) Debate.--Debate on the joint resolution, and on
all debatable motions and appeals in connection
therewith, shall be limited to not more than 10 hours,
which shall be divided equally between the majority and
minority leaders or their designees. A motion further
to limit debate is in order and not debatable. An
amendment to, or a motion to postpone, or a motion to
proceed to the consideration of other business, or a
motion to recommit the joint resolution is not in
order.
(C) Vote on passage.--The vote on passage shall
occur immediately following the conclusion of the
debate on a joint resolution, and a single quorum call
at the conclusion of the debate if requested in
accordance with the rules of the Senate.
(D) Rulings of the chair on procedure.--Appeals
from the decisions of the Chair relating to the
application of the rules of the Senate, as the case may
be, to the procedure relating to a joint resolution
shall be decided without debate.
(e) Rules Relating to Senate and House of Representatives.--
(1) Coordination with action by other house.--If, before
the passage by one House of a joint resolution of that House,
that House receives from the other House a joint resolution,
then the following procedures shall apply:
(A) The joint resolution of the other House shall
not be referred to a committee.
(B) With respect to a joint resolution of the House
receiving the resolution--
(i) the procedure in that House shall be
the same as if no joint resolution had been
received from the other House; but
(ii) the vote on passage shall be on the
joint resolution of the other House.
(2) Treatment of joint resolution of other house.--If one
House fails to introduce or consider a joint resolution under
this section, the joint resolution of the other House shall be
entitled to expedited floor procedures under this section.
(3) Treatment of companion measures.--If, following passage
of the joint resolution in the Senate, the Senate then receives
the companion measure from the House of Representatives, the
companion measure shall not be debatable.
(4) Consideration after passage.--
(A) In general.--If Congress passes a joint
resolution, the period beginning on the date the
President is presented with the joint resolution and
ending on the date the President takes action with
respect to the joint resolution shall be disregarded in
computing the 60-calendar day period described in
subsection (a).
(B) Vetoes.--If the President vetoes the joint
resolution--
(i) the period beginning on the date the
President vetoes the joint resolution and
ending on the date the Congress receives the
veto message with respect to the joint
resolution shall be disregarded in computing
the 60-calendar day period described in
subsection (a); and
(ii) debate on a veto message in the Senate
under this section shall be 1 hour equally
divided between the majority and minority
leaders or their designees.
(5) Rules of house of representatives and senate.--This
subsection and subsections (b), (c), and (d) are enacted by
Congress--
(A) as an exercise of the rulemaking power of the
Senate and House of Representatives, respectively, and
as such it is deemed a part of the rules of each House,
respectively, but applicable only with respect to the
procedure to be followed in that House in the case of a
joint resolution, and it supersedes other rules only to
the extent that it is inconsistent with such rules; and
(B) with full recognition of the constitutional
right of either House to change the rules (so far as
relating to the procedure of that House) at any time,
in the same manner, and to the same extent as in the
case of any other rule of that House.
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