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H. Rept. 119-92 1 (2025-05-06)

handle is hein.congrecreports/crptxahkc0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 119TH CONGRESS REPORT 1st Session HOUSE OF REPRESENTATIVES 119-92 ANTI-CBDC SURVEILLANCE STATE ACT MAY 6, 2025.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HILL of Arkansas, from the Committee on Financial Services, submitted the following REPORT together with MINORITY VIEWS [To accompany H.R. 1919] The Committee on Financial Services, to whom was referred the bill (H.R. 1919) 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 Com m ittee Consideration ........................................................................................ 4 R elated H earings ..................................................................................................... 6 C om m ittee V otes ..................................................................................................... 6 Com m ittee Oversight Findings ............................................................................... 9 Perform ance Goals and Objectives ......................................................................... 9 Com m ittee Cost Estim ate ....................................................................................... 9 New Budget Authority and CBO Cost Estimate ................................................... 9 Unfunded M andates Statem ent .............................................................................. 9 E arm ark Statem ent ................................................................................................. 9 Federal Advisory Committee Act Statement ......................................................... 10 Applicability to the Legislative Branch ................................................................. 10 Duplication of Federal Program s ........................................................................... 10 Section-by-Section Analysis of the Legislation ..................................................... 10 Changes in Existing Law Made by the Bill, as Reported ................. 11 Minority Views or Supplemental Views, Additional Views, or Dissenting V iew s ..................................................................................................................... 19 59-006