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H.R. 5032: Cease Orwellian Surveillance and Targeting Act of 2023

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H.R. 5032: Cease Orwellian Surveillance and Targeting Act of 2023

118th Congress · introduced 2023-07-27 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2023-07-27 · official record
  2. Who proposed it: Rep. Ogles, Andrew [R-TN-5] · 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 Financial Services. 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

Cease Orwellian Surveillance and Targeting Act of 2023

Plain summary

Cease Orwellian Surveillance and Targeting Act of 2023 or the COST Act of 2023 This bill generally prohibits the issuance or ownership of central bank digital currencies. A central bank digital currency is a digital currency issued by a government-backed central bank. Under the bill, the Board of Governors of the Federal Reserve System and the Federal Reserve banks are prohibited from minting or issuing a central bank digital currency. In addition, a Federal Reserve bank is prohibited from offering products or services directly to an individual or entity, providing coins or currency directly to an individual or entity, or maintaining an account on behalf of an individual or entity, with some exceptions. Further, no person is allowed to hold or own central bank digital currency belonging to the United States or a foreign country.

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

Cease Orwellian Surveillance and Targeting Act of 2023

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. Ogles, Andrew [R-TN-5] · 4 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Byron Donalds (R-FL), Paul A. Gosar (R-AZ)

Sponsor's campaign money: Rep. Ogles, Andrew [R-TN-5] reported raising $790,546 (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-cong118-hr5032 · catalog fed-us-congress-bills-cong118 · updated 2026-11-15 by psicol fed-bills-cong118