HR7132119th CongressWALLET

Enhancing Financial Stability Research and Oversight Act

Sponsored By: Representative Rep. Foster, Bill [D-IL-11]

Introduced

Summary

This bill would lock in independent, inflation‑adjusted funding for the Office of Financial Research (OFR) and would set minimum staff and budget rules to preserve OFR and Financial Stability Oversight Council (FSOC) independence and operations.

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  • OFR staff and budget: The OFR would have sole discretion to set its annual budget and would be required to maintain at least 231 full‑time equivalent positions. The OFR annual budget could not be less than $124.6 million and would be adjusted each year by the employment cost index for State and local government workers.
  • FSOC staffing and money: FSOC would be required to maintain at least 48 full‑time positions. The OFR would transfer at least $15.3 million each year to FSOC to pay for Council staffing and other expenses, with that transfer adjusted annually by the same index.
  • Independence safeguards: The bill would prohibit the Secretary from influencing OFR budget, staffing, or pay and would block Appropriations Committee review of these funding decisions to limit executive and congressional interference.

*Would establish guaranteed annual funding floors of about $124.6 million for OFR plus $15.3 million in transfers for FSOC, creating a predictable federal spending floor.*

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

More funding and staff for OFR and FSOC

If enacted, the Director of the Office of Financial Research (OFR) would have sole discretion to set the OFR annual budget. The OFR budget would not be less than $124,627,000 and that minimum would be adjusted each year by the percent increase (if any) in the employment cost index for total compensation for State and local government workers for the 12‑month period ending September 30 of the previous year. The OFR would be required to maintain at least 231 full‑time equivalent positions. The Treasury Secretary would be prohibited from influencing OFR budget, staffing, or pay, and OFR funding decisions would not be subject to review by the House or Senate Appropriations Committees. The OFR would transfer at least $15,287,000 each year to the Financial Stability Oversight Council (FSOC), with that minimum adjusted annually by the same employment cost index, and the FSOC Chairperson would ensure at least 48 full‑time equivalent positions. The FSOC could use its transferred funds immediately. The bill would also remove the phrase "in consultation with the Chairperson" from subsection (d), ending that statutory consultation requirement.

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Sponsors & CoSponsors

Sponsor

Rep. Foster, Bill [D-IL-11]

IL • D

Cosponsors

  • Rep. Sherman, Brad [D-CA-32]

    CA • D

    Sponsored 1/16/2026

  • Rep. Beatty, Joyce [D-OH-3]

    OH • D

    Sponsored 1/16/2026

  • Rep. Casten, Sean [D-IL-6]

    IL • D

    Sponsored 1/16/2026

  • Rep. Velázquez, Nydia M. [D-NY-7]

    NY • D

    Sponsored 1/16/2026

  • Rep. Himes, James A. [D-CT-4]

    CT • D

    Sponsored 2/3/2026

Roll Call Votes

No roll call votes available for this bill.

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