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H. Rept. 118-493 1 (2024-05-07)

handle is hein.congrecreports/crptxagea0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION 118TH CONGRESS REPORT 2d Session HOUSE OF REPRESENTATIVES 118-493 CBDC ANTI-SURVEILLANCE STATE ACT MAY 7, 2024.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. McHENRY, from the Committee on Financial Services, submitted the following REPORT together with MINORITY VIEWS [To accompany H.R. 5403] The Committee on Financial Services, to whom was referred the bill (H.R. 5403) to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services di- rectly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes, having con- sidered the same, reports favorably thereon with an amendment and recommends that the bill as amended do pass. CONTENTS Page Purpose and Sum m ary ............................................................................................ 2 Background and Need for Legislation ................................................................... 3 R elated H earings ..................................................................................................... 5 Com m ittee Consideration ........................................................................................ 7 C om m ittee V otes ...................................................................................................... 7 Com m ittee Oversight Findings ............................................................................... 11 Perform ance Goals and Objectives ......................................................................... 11 Congressional Budget Office Estimates ................................................................. 11 New Budget Authority, Entitlement Authority, and Tax Expenditures ............. 11 Federal M andates Statem ent ................................................................................. 11 Advisory Com m ittee Statem ent .............................................................................. 11 Applicability to Legislative Branch ........................................................................ 11 Earm ark Identification ............................................................................................ 12 Duplication of Federal Program s ............................................................................ 12 Section-By-Section Analysis of the Legislation ..................................................... 12 Changes in Existing Law Made by the Bill, as Reported ..................................... 13 M inority V iew s ......................................................................................................... 19 The amendment is as follows: 49-006