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H.R. 654: TABS Act of 2025

119th Congress · introduced 2025-01-23 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

What does this mean?

Official title

TABS Act of 2025

Plain summary

Taking Account of Bureaucrats' Spending Act of 2025 or the TABS Act of 2025 This bill restructures the Consumer Financial Protection Bureau and renames it as the Consumer Financial Empowerment Agency. The new agency is established as an independent agency outside of the Federal Reserve System. The bill also changes the funding structure of the agency by prohibiting the transfer of funds to the agency from the Federal Reserve System and by authorizing congressional appropriations for FY2026-FY2027.

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

TABS Act of 2025

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Barr, Andy [R-KY-6] · 16 cosponsors

Money: No cost estimate published yet. No linked contracts or vendors yet.

Words on this page, explained (2)
Appropriation
Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
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-cong119-hr654 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills