Title: TABS Act of 2019
Policy area: Finance and Financial Sector

Summary:
Taking Account of Bureaucrats' Spending Act of 2019 or the TABS Act of 2019
This bill eliminates provisions in the Consumer Financial Protection Act of 2010 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 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 969 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 969

  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

                            February 5, 2019

 Mr. Barr (for himself, Mr. Hill of Arkansas, Mr. Stivers, Mr. Tipton, 
   Mr. Loudermilk, Mr. Huizenga, Mr. Zeldin, Mr. Weber of Texas, Mr. 
Posey, Mr. Dunn, Mr. Austin Scott of Georgia, Mr. Allen, Mr. Emmer, Mr. 
 Duffy, Mr. Rouzer, Mr. Davidson of Ohio, Mr. Riggleman, Mr. Budd, Mr. 
Walberg, Mr. Abraham, Mr. Kelly of Mississippi, Mr. Babin, Mr. David P. 
    Roe of Tennessee, Mr. Norman, Mr. Crenshaw, Mr. John W. Rose of 
    Tennessee, Mr. LaMalfa, Mr. Gallagher, and Mr. Hice of Georgia) 
 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 2019'' or the ``TABS Act of 2019''.

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 2019 and 2020.''; 
        and
                    (B) by redesignating paragraph (4) as paragraph 
                (2).
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