Sponsored by
Rep. Casten, Sean [D-IL-6]
ID: C001117
Follow the money
The bill
HRES. 250, 119th Congress — read as touching Commercial Banks.
The sponsor
Every bill has someone who introduced it. That name is where the paper trail starts.
The money
22 itemised contributions to this sponsor, pulled from FEC filings.
The alignment
This bill's text tracks the "22" section, p. 724-726 of the Mandate for Leadership.
Track this bill's progress through the legislative process
Latest Action
Motion to Discharge Committee filed by Mr. Casten. Petition No: 119-2. (<a href="https://clerk.house.gov/DischargePetition/2025040902">Discharge petition</a> text with signatures.)
April 8, 2025
📍 Current Status
Next: The bill moves to the floor for full chamber debate and voting.
1. Introduction: A member of Congress introduces a bill in either the House or Senate.
2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.
3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.
4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.
5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.
6. Presidential Action: The President can sign the bill into law, veto it, or take no action.
7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!
Another masterpiece of legislative theater, brought to you by the esteemed members of Congress. Let's dissect this farce, shall we?
HRES 250 is a resolution that allows for the consideration of H.R. 1101, a bill that claims to prohibit unlawful access to the payment system of the Bureau of the Fiscal Service within the Department of the Treasury. Oh, how noble.
In reality, this bill is a classic case of "legislative lupus" – it's a disease where politicians pretend to address a problem while actually making it worse. The symptoms are clear: vague language, lack of specificity, and a healthy dose of bureaucratic doublespeak.
The new regulations being created or modified? Oh boy, get ready for a tidal wave of red tape. The bill "prohibits unlawful access" – what does that even mean? Who gets to decide what's "unlawful"? And how will this be enforced? Don't worry, the bill doesn't bother to explain.
Affected industries and sectors? Ha! You think the politicians care about the little people? This bill is a gift to the big banks and financial institutions, who will use it as an excuse to further strangle small businesses and entrepreneurs with compliance costs. The "other purposes" mentioned in the bill are just a Trojan horse for more regulatory overreach.
Compliance requirements and timelines? Don't make me laugh. The bill waives all points of order against consideration of the bill, which means that Congress is essentially saying, "We don't care about your concerns or objections – we're going to ram this down your throat." And the Clerk has a whole week to transmit the message to the Senate after passage? That's just enough time for the politicians to pat themselves on the back and collect their campaign contributions.
Enforcement mechanisms and penalties? Ah, now we get to the good stuff. The bill doesn't specify any concrete enforcement mechanisms or penalties, which means that it will be selectively enforced against whoever the politicians deem "unworthy." You can bet your bottom dollar that the big players will find ways to game the system while the little guys get crushed.
Economic and operational impacts? Let's just say that this bill is a recipe for disaster. It will stifle innovation, kill jobs, and further entrench the power of the financial elite. But hey, who needs economic growth when you can have more regulations?
In conclusion, HRES 250 is a textbook example of legislative malpractice. It's a cynical attempt to appear tough on "unlawful access" while actually perpetuating the same old crony capitalism that got us into this mess in the first place. Bravo, Congress – you've managed to create another masterpiece of bureaucratic bloat and regulatory overreach. Now, if you'll excuse me, I have better things to do than watch this train wreck unfold.
Rep. Casten, Sean [D-IL-6]
Congress 119 • 2024 Election Cycle
No PAC contributions found
No committee contributions found
This bill has 1 cosponsors. Below are their top campaign contributors.
ID: S001215
Top Contributors
10
Hub layout: Politicians in center, donors arranged by type in rings around them.
Showing 46 nodes and 25 connections (46 secondary connections hidden)
Total contributions: $82,700
Showing top 21 donors by contribution amount
Which industries are materially affected by specific provisions in this bill. 2 harmed.
Section 1 mentions consideration of H.R. 1101 to prohibit unlawful access to the payment system of the Bureau of the Fiscal Service within the Department of the Treasury, which could lead to increased regulatory scrutiny and costs for commercial banks
The resolution's focus on prohibiting unlawful access to payment systems may imply stricter regulations on fintech and crypto companies that interact with these systems
For each industry this bill affects, here's what the sponsor (Rep. Casten, Sean [D-IL-6])received from donors associated with that industry during the 2022–present cycles. Donations are not proof of intent — they are a record of who funds the people writing the law.
This bill shows semantic similarity to the following sections of the Project 2025 policy document.AI-enhanced analysis provides detailed alignment ratings.
AI Analysis:
"The bill strengthens Treasury payment system security, which supports Project 2025's objectives of improved financial regulation, fiscal responsibility, and privacy protection, though it may raise compliance costs rather than reduce them."
— 691 — 22 DEPARTMENT OF THE TREASURY William L. Walton, Stephen Moore, and David R. Burton INTRODUCTION The U.S. Treasury Department has a broad regulatory and policy reach. The next Administration should make major policy changes to: (1) reduce regulatory impediments to economic growth that reduce living standards and endanger pros- perity; (2) reduce regulatory compliance costs that increase prices and cost jobs; (3) promote fiscal responsibility; (4) promote the international competitiveness of U.S. businesses; and (5) better respect the American people’s due process and privacy rights. These goals should be accomplished through: executive action (primar- ily treasury orders and treasury directives) and departmental reorganization; rulemakings; promoting constructive policies in Congress; actions in international organizations; and treaties. The primary subject matter focus of the incoming Administration’s Treasury Department should be: l Tax policy and tax administration; l Fiscal responsibility; l Improved financial regulation; l Addressing the economic and financial aspects of the geopolitical threat posed by China and other hostile countries;
AI Analysis:
"The bill focuses on securing the Treasury's payment system, which aligns with Project 2025's goal of improved financial regulation and protecting sensitive financial data, but it may increase compliance costs, conflicting with the policy's aim to reduce regulatory burdens."
— 691 — 22 DEPARTMENT OF THE TREASURY William L. Walton, Stephen Moore, and David R. Burton INTRODUCTION The U.S. Treasury Department has a broad regulatory and policy reach. The next Administration should make major policy changes to: (1) reduce regulatory impediments to economic growth that reduce living standards and endanger pros- perity; (2) reduce regulatory compliance costs that increase prices and cost jobs; (3) promote fiscal responsibility; (4) promote the international competitiveness of U.S. businesses; and (5) better respect the American people’s due process and privacy rights. These goals should be accomplished through: executive action (primar- ily treasury orders and treasury directives) and departmental reorganization; rulemakings; promoting constructive policies in Congress; actions in international organizations; and treaties. The primary subject matter focus of the incoming Administration’s Treasury Department should be: l Tax policy and tax administration; l Fiscal responsibility; l Improved financial regulation; l Addressing the economic and financial aspects of the geopolitical threat posed by China and other hostile countries; — 692 — Mandate for Leadership: The Conservative Promise l Reform of the anti-money laundering and beneficial ownership reporting systems; l Reversal of the racist “equity” agenda of the Biden Administration; and l Reversal of the economically destructive and ineffective climate-related financial-risk agenda of the Biden Administration. BIDEN ADMINISTRATION TREASURY DEPARTMENT The Biden Administration Treasury Department has failed badly in achieving every one of the agency’s core objectives. The financial affairs of the nation have seldom been in worse condition, with the national debt expanding by more than $4 trillion in Biden’s first two years in office. No President in modern times—perhaps ever—has been more fiscally reckless than has the Biden Administration. The soundness and stability of U.S. currency, the dollar, has been put at risk because of the worst inflation in four decades. American families have been made poorer by Biden’s economic strategy of taxing, spending, borrowing, regulating, and printing money. The average family has seen real annual earn- ings fall about $6,000 during the Biden Administration.1 In 2022, the average American’s 401(k) plan dropped in value from $130,700 to $103,900—more than 20 percent.2 Why has the Biden Administration failed to achieve virtually all components of its mission? Under the leadership of Treasury Secretary Janet Yellen, the depart- ment has made “equity” and “climate change” among its top five priorities. The next Administration must act decisively to curtail activities that fall outside Trea- sury’s mandate and primary mission. Treasury must refocus on its core missions of promoting economic growth, prosperity, and economic stability. For a clear statement of Treasury’s mission drift, one need look no further than Secretary Yellen’s introduction in the Treasury Department’s Fiscal Year 2022–2026 Strategic Plan: We will have to address the structural problems that have plagued our economy for decades: the decline in labor force participation, income and racial inequality, and serious underinvestment in crucial public goods like childcare, education, and physical infrastructure. And then there are rising challenges, like climate change, which, left unchecked, will undermine every aspect of our economy from supply chains to the financial system.3 Treasury’s mission drift into a “woke” agenda, is exemplified in a comparison of Domestic Finance’s changed responsibilities from 2015 to 2023:
AI Analysis:
"The bill focuses on securing the Treasury's payment system against unlawful access, while Project 2025's Treasury section primarily discusses tax reform, bureau functions, and policy principles without explicit mention of payment system cybersecurity. The overlap is limited to the shared concern for the Treasury's operational integrity."
— 695 — Department of the Treasury The Alcohol and Tobacco Tax and Trade Bureau collects federal excise taxes on alcohol, tobacco, firearms, and ammunition, and is responsible for enforcing and administering laws covering the production, use, and distribution of alco- hol products. The Internal Revenue Service is the largest of the department’s bureaus, account- ing for about 85 percent of Treasury’s personnel and about four-fifths of its appropriated budget. It administers and enforces U.S. tax laws. The Bureau of Engraving and Printing develops and produces U.S. currency notes. The Financial Crimes Enforcement Network (FinCEN) is designed to protect the financial system from illicit use. It also administers the beneficial ownership reporting regime mandated by the Corporate Transparency Act.12 The Bureau of the Fiscal Service provides central payment services to federal program agencies, operates the U.S. government’s collections and deposit systems, provides government-wide accounting and reporting services, manages the collec- tion of delinquent debt owed to the U.S. government, borrows the money needed to operate the government through the sale of U.S. Treasury securities (including the state and local government series), and accounts for and services the public debt. The United States Mint designs and mints U.S. circulating and bullion coins. The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises national banks and federal savings associations (thrifts) to ensure that they operate in a safe and sound manner, provide fair access to financial services, and comply with applicable laws and regulations. The OCC also supervises fed- eral branches and agencies of foreign banks and has rulemaking authority for all savings associations. TAX POLICY Tax policy has a powerful impact on the economy. The Treasury Department should develop and promote tax reform legislation that will promote prosperity. To accomplish this, tax reform should improve incentives to work, save, and invest. This, in turn, is accomplished primarily by reducing marginal tax rates,13 reducing the cost of capital14 and broadening the tax base to eliminate tax-induced economic distortions by eliminating special-interest tax credits, deductions, and exclusions. Tax compliance costs will decline precipitously if the tax system is substantially simplified.15 The Treasury Department should also promote tax competition rather than supporting an international tax cartel. Principles of Good Tax Policy. These are the principles governing good tax policy. l First, the tax system should raise the revenue necessary to fund a limited government for constitutionally appropriate activities. It should raise this revenue such that it: (a) applies the least economically destructive forms of — 696 — Mandate for Leadership: The Conservative Promise taxation;16 (b) has low tax rates on a broad, neutral tax base; (c) minimizes interference with the operation of the free market and free enterprise; and (d) minimizes the cost to taxpayers of compliance with and administration of the tax system. l Second, the tax system should minimize its adverse impact on the family and the core institutions of civil society. l Third, the tax system should be applied consistently—with special privileges for none—and respect taxpayer due process and privacy rights. The current tax system is inconsistent with these principles and needs to be reformed to promote prosperity, reduce compliance costs, and improve fairness. The incoming Administration should promote immediate intermediate reforms to the existing system. It should then pursue fundamental tax reform. Intermediate Tax Reform. The Treasury should work with Congress to sim- plify the tax code by enacting a simple two-rate individual tax system of 15 percent and 30 percent that eliminates most deductions, credits and exclusions. The 30 percent bracket should begin at or near the Social Security wage base to ensure the combined income and payroll tax structure acts as a nearly flat tax on wage income beyond the standard deduction. The corporate income tax rate should be reduced to 18 percent. The corporate income tax is the most damaging tax in the U.S. tax system, and its primary economic burden falls on workers because capital is more mobile than labor.17 Capital gains and qualified dividends should be taxed at 15 percent. Thus, the combined corporate income tax combined with the capital gains or qualified dividends tax rate would be roughly equal to the top individual income tax rate.18 The system should allow immediate expensing for capital expenditures and index capital gains taxes for inflation. In addition, intermediate tax reform should repeal all tax increases that were passed as part of the Inflation Reduction Act,19 including the book minimum tax, the stock buyback excise tax, the coal excise tax, the reinstated Superfund tax, and excise taxes on drug manufacturers to compel them to comply with Medicare price controls. The next Administration should also push for legislation to fully repeal recently passed subsidies in the tax code, including the dozens of credits and tax breaks for green energy companies in Subtitle D of the Inflation Reduction Act.20 Universal Savings Accounts. All taxpayers should be allowed to contribute up to $15,000 (adjusted for inflation) of post-tax earnings into Universal Savings Accounts (USAs). The tax treatment of these accounts would be comparable to Roth IRAs. USAs should be highly flexible to allow Americans to save and invest as they see fit, including, for example, investments in a closely held business. Gains from investments in USAs would be non-taxable and could be withdrawn at any
Showing 3 of 5 policy matches
Policy matches are calculated using a hybrid approach: initial candidates are found using semantic similarity between bill summaries and Project 2025 policy text, then an AI model (Llama 3.1 70B) provides detailed alignment ratings and analysis. Ratings range from 1 (minimal alignment) to 5 (very strong alignment). This analysis does not imply direct causation or intent.