The Senate Banking Committee plan would finish the CFPB’s computerized funding and restrict salaries for non-monetary Fed workers.
The Senate Banking Committee is proposing to chop all obligatory funding for the Shopper Monetary Safety Bureau (CFPB) and cap pay for a lot of Federal Reserve staff in its part of the One Huge Lovely Invoice—the Republicans’ sweeping tax aid and spending measure that’s to function a springboard for President Donald Trump’s second-term agenda.
The proposed adjustments, launched on June 5 and tucked into Title III of the invoice, are a part of a broader GOP effort to reshape regulatory companies and cut back long-term federal spending.