Bill Summary
This resolution allocates funding for the expenses of the Committee on Financial Services during the One Hundred Nineteenth Congress. It authorizes a total of $22,407,000 for various expenses, including staff salaries. The funding is divided into two equal amounts of $11,203,500, designated for two separate time periods: one for the year from January 3, 2025, to January 3, 2026, and the other from January 3, 2026, to January 3, 2027. Payments from this fund will be made through vouchers that require authorization from the Committee's Chairman and will follow guidelines set by the Committee on House Administration. Overall, the resolution ensures that the Committee has the necessary financial resources to operate effectively during the specified congressional sessions.
Possible Impacts
The resolution concerning the expenses of the Committee on Financial Services for the One Hundred Nineteenth Congress could have various implications for individuals and groups. Here are three examples of how it might affect people:
1. **Impact on Staff Employment**: The allocation of $22,407,000 for the Committee's expenses includes funding for staff salaries. This means that individuals employed by the Committee, such as legislative aides, analysts, and administrative personnel, will benefit from job security and salary continuity during this funding period. Conversely, if the budget were to be reduced, it could lead to layoffs or reduced hours for staff, directly impacting their livelihoods.
2. **Influence on Financial Legislation**: The funding allocated for the Committee on Financial Services supports its operations, which may include researching, drafting, and evaluating financial legislation. This can directly impact the financial well-being of citizens, businesses, and the economy as a whole. For example, if the Committee is able to effectively work on financial reforms or consumer protection laws, it could lead to improved financial regulations that benefit consumers, such as better protections against predatory lending practices.
3. **Oversight and Accountability**: By ensuring that the Committee has adequate funding to operate effectively, the resolution supports oversight of financial institutions and markets. This oversight can lead to increased accountability among financial service providers, which can protect individuals from unethical practices, fraud, or economic downturns. For example, robust regulatory oversight can help prevent crises that may affect personal savings and investments, thus safeguarding people's financial security.
Overall, the resolution's provisions influence employment within the Committee, the quality of financial legislation, and the oversight of financial practices, all of which can have ripple effects on the broader population.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 103 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. RES. 103
Providing amounts for the expenses of the Committee on Financial
Services in the One Hundred Nineteenth Congress.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 4, 2025
Mr. Hill of Arkansas submitted the following resolution; which was
referred to the Committee on House Administration
_______________________________________________________________________
RESOLUTION
Providing amounts for the expenses of the Committee on Financial
Services in the One Hundred Nineteenth Congress.
Resolved,
SECTION 1. AMOUNTS FOR COMMITTEE EXPENSES.
For the expenses of the Committee on Financial Services (hereafter
in this resolution referred to as the ``Committee''), including the
expenses of all staff salaries, there shall be paid, out of the
applicable accounts of the House of Representatives for committee
salaries and expenses, not more than $22,407,000 for the One Hundred
Nineteenth Congress.
SEC. 2. SESSION LIMITATIONS.
Of the amount specified in section 1--
(1) not more than $11,203,500 shall be available for
expenses incurred during the period beginning at noon on
January 3, 2025, and ending immediately before noon on January
3, 2026; and
(2) not more than $11,203,500 shall be available for
expenses incurred during the period beginning at noon on
January 3, 2026, and ending immediately before noon on January
3, 2027.
SEC. 3. VOUCHERS.
Payments under this resolution shall be made on vouchers authorized
by the Committee, signed by the Chairman of the Committee, and approved
in the manner directed by the Committee on House Administration.
SEC. 4. REGULATIONS.
Amounts made available under this resolution shall be expended in
accordance with regulations prescribed by the Committee on House
Administration.
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