FRAME Act
Sponsored By: Senator Scott, Rick [R-FL]
Introduced
Summary
This bill would give Congress a fast, compulsory check on Federal Reserve capital spending above $100 million. It would force Congress to consider an expedited joint resolution to disapprove any Fed capital expenditure over $100 million within 60 days of a submitted request.
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- Federal Reserve: Would have to send Congress any request for capital spending above $100 million and face an expedited congressional disapproval process.
- House of Representatives: Requires a committee to report a disapproval resolution within 20 days and pushes floor consideration into a strict 24-day window.
- Senate: Creates a 16- to 24-day window to move to the resolution and limits debate on the measure to 10 hours.
- President and vetoes: The 60-day review clock excludes the time the President takes to act, and if the President vetoes, Senate debate on the veto message is limited to 1 hour.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Congress can block large Fed projects
If enacted, this bill would let Congress block any Federal Reserve capital project over $100,000,000. Congress would have 60 calendar days after receiving a request to enact a disapproval joint resolution. The resolution must be introduced within 3 calendar days and both Houses would use fast-track procedures. The House must act by day 24 (committees must report in 20 days or be discharged, two hours of House debate). The Senate must consider the measure between days 16 and 24 and limit debate to 10 hours. Time the President holds or vetoes the resolution is ignored when counting the 60-day review. If enacted, this could let Congress quickly stop big Fed projects but could also delay or constrain Fed planning.
Sponsors & CoSponsors
Sponsor
Scott, Rick [R-FL]
FL • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov