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Sen. Rick Scott Reintroduces Bills to Hold the Federal Reserve Accountable |
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| Senator Rick Scott reintroduced a legislative package to bring accountability to the Federal Reserve and its leadership and end its out-of-control monetary policies that have failed the American people. This includes the Regular Order for Investments (ROI) of the Federal Reserve Act to end the Fed’s bad practices and force the Fed to consider the impact of its decisions on hard-working American families; the Right Size the Federal Reserve Act to ensure an unwinding of the Fed’s massive balance sheet, which currently sits at a staggering $6.7 trillion, by mandating that it remain at or below 10% of U.S. GDP; and the Rein in the Federal Reserve Act, with Senator Cynthia Lummis, to establish more accountability and strict Congressional oversight of the Federal Reserve. These bills build on Senator Scott’s bipartisan legislation that would require a presidentially-appointed and Senate-confirmed Inspector General to be added to the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau. Senator Scott continues to work to right-size the Fed and make sure it’s working for the best interests of the American people and with accountability for recent bank failures. Read more on his efforts HERE. Senator Rick Scott said: “The Federal Reserve is out of control and has clearly lost track of its mission to provide stability for the American people. Under Chair Powell, we have seen zero accountability, a culture of corruption and questionable ethics, and a complete lack of guardrails to the Fed’s policies that have left the American people dealing with the consequences. It’s time to put an end to the insanity and instability at the Fed with my comprehensive legislative package that reins in the Federal Reserve, better protects taxpayer money, and makes sure the Federal Reserve is truly accountable to Congress and the American people. We finally have a President who is making the government accountable and work better for Americans; it’s time to bring this effort to the Federal Reserve.” Read more HERE. — |
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Sen. Rick Scott Asks Agency Heads for Transparency on Federal Employee Royalty Payments |
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| Senator Rick Scott wrote letters to several federal agency heads in the Trump administration thanking them for bringing much-needed transparency to the federal government and accountability to the American people, fulfilling President Trump’s promise to do so, and raising concerns over a shocking lack of transparency surrounding federal employee royalty payments. Currently, federal employees are not required to report the source or amount of royalty payments they receive for their government-related work, which prevents taxpayers from holding individuals accountable within the federal government for potential conflicts of interest and other abuse. Senator Scott is also a cosponsor of the Royalty Transparency Act to require disclosure of royalty payments from both government employees and advisory committee members in an effort to increase government accountability. Read more HERE. Read the text of the letters HERE. — |
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IN CASE YOU MISSED IT… Sen. Rick Scott’s Regulation Decimation Act Attracts Growing Support |
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| In case you missed it, Senator Rick Scott’s Regulation Decimation Act sees growing support as it was recently highlighted in a Washington Examiner op-ed by American Enterprise Institute's Kevin R. Kosar. Senator Scott's bill requires federal agencies to repeal ten existing regulations before issuing new ones, codifying President Trump’s recent executive order, and ensures that the cost of any new regulation does not exceed the cost of those repealed. Senator Scott is also a cosponsor of the REINS Act and the ERASER Act as part of his push to streamline government and reduce unnecessary red tape following in the footsteps of DOGE’s efforts. Senator Rick Scott said: “The federal government has grown exponentially during the four years of the Biden administration, with hundreds of thousands of federal regulations costing Americans $1.9 TRILLION. President Trump is committed to streamlining government to make it work better for the American people, and every agency should follow suit and cut waste and red tape within their own walls. It’s time to refocus our federal government and its agencies to be good stewards of American tax dollars and working better for the American people by passing the Regulatory Decimation Act to hold agencies accountable.” Read more HERE. Read more on the Regulation Decimation Act HERE. — |
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