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H.R. 4496: FUNDS Act

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H.R. 4496: FUNDS Act

114th Congress · introduced 2016-02-08 · Economics and Public Finance · Latest: Referred to the House Committee on the Judiciary.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2016-02-08 · official record
  2. Who proposed it: Rep. Schweikert, David [R-AZ-6] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the House Committee on the Judiciary. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

FUNDS Act

Plain summary

Funding Unpaid National Debt with Settlements Act or the FUNDS Act This bill requires funds collected by the federal government through legal settlements, fines, and penalties (excluding penalties or interest collected by the Internal Revenue Service under the Internal Revenue Code) to be deposited in the general fund of the Treasury for deficit reduction. (Under current law, federal agencies are permitted to spend funds from certain settlements, fines, and penalties for specified purposes.)

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

FUNDS Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Schweikert, David [R-AZ-6] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Rep. Schweikert, David [R-AZ-6] reported raising $1.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong114-hr4496 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114