Title: TABS Act of 2017
Policy area: Finance and Financial Sector

Summary:
Taking Account of Bureaucrats' Spending Act of 2017 or the TABS Act of 2017
This bill amends the Consumer Financial Protection Act of 2010 to eliminate provisions that fund the Consumer Financial Protection Bureau (CFPB) using transfers from the earnings of the Federal Reserve System. The transfers under current law permit the CFPB to be funded outside of the annual appropriations process, and this bill brings the CFPB into the regular process.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2553 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 2553

  To amend the Consumer Financial Protection Act of 2010 to bring the 
Bureau of Consumer Financial Protection into the regular appropriations 
                    process, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 19, 2017

Mr. Barr (for himself, Mr. Tipton, Mr. Rothfus, Mrs. Love, Mrs. Wagner, 
 Mr. Duffy, Ms. Tenney, Mr. Loudermilk, Mr. Stivers, Mr. Hultgren, Mr. 
 Pittenger, Mr. Emmer, Mr. Hollingsworth, Mr. Davidson, Mr. Trott, and 
Mr. Williams) introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To amend the Consumer Financial Protection Act of 2010 to bring the 
Bureau of Consumer Financial Protection into the regular appropriations 
                    process, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Taking Account of Bureaucrats' 
Spending Act of 2017'' or the ``TABS Act of 2017''.

SEC. 2. BRINGING THE BUREAU INTO THE REGULAR APPROPRIATIONS PROCESS.

    Section 1017 of the Consumer Financial Protection Act of 2010 (12 
U.S.C. 5497) is amended--
            (1) in subsection (a)--
                    (A) by amending the heading of such subsection to 
                read as follows: ``Budget, Financial Management, and 
                Audit.--'';
                    (B) by striking paragraphs (1), (2), and (3);
                    (C) by redesignating paragraphs (4) and (5) as 
                paragraphs (1) and (2), respectively; and
                    (D) by striking subparagraphs (E) and (F) of 
                paragraph (1), as so redesignated;
            (2) by striking subsections (b) and (c);
            (3) by redesignating subsections (d) and (e) as subsections 
        (b) and (c), respectively; and
            (4) in subsection (c), as so redesignated--
                    (A) by striking paragraphs (1), (2), and (3) and 
                inserting the following:
            ``(1) Authorization of appropriations.--There are 
        authorized to be appropriated such sums as may be necessary to 
        carry out this title for each of fiscal years 2018 and 2019.''; 
        and
                    (B) by redesignating paragraph (4) as paragraph 
                (2).
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