On the Blog: The Federal Reserve

With a bill on the topic coming to the House floor this week, we tried answering the question: “What’s the Fed Got to Do with Me?“

Featured Items

This week, the Senate will debate S. 3412, a bill intended to “provide tax relief to middle-class families.”

The bill would extend and amend various tax relief measures passed over the last twelve years, and it would continue the increased alternative minimum tax exemption amount, among other things.

There is no cost/savings estimate for S. 3412 yet.

The House will debate H.R. 459, The Federal Reserve Transparency Act.

The bill would direct the Government Accountability Office to prepare audits of the Board of Governors of the Federal Reserve System and the Federal Reserve banks. The first audit would cover all of the activities of the Federal Reserve, and the second would review loan files of foreclosed homeowners.

Passage of H.R. 459 would cost $0.05 per U.S. family.

S. 3412
A bill to amend the Internal Revenue Code of 1986 to provide tax relief to middle-class families

H.R. 459
The Federal Reserve Transparency Act of 2011
Costs $0.05 per family

What People Think

S. 3412 50% For, 50% Against Vote on this Bill

The Federal Reserve Transparency Act of 2011 84% For, 16% Against Vote on this Bill

Displayed below are new, updated, and passed items with their cost or savings per family.

New Items

H.R. 3479
The Natural Hazards Risk Reduction Act of 2011
Costs $2.63 per family

H.R. 4365
To amend title 5, United States Code, to make clear that accounts in the Thrift Savings Fund are subject to certain Federal tax levies
Costs $0.20 per family

S. 3276
The FAA Sunsets Extension Act of 2012
Costs $0.00 per family

H.R. 6082
The Congressional Replacement of President Obama’s Energy-Restricting and Job-Limiting Offshore Drilling Plan
Costs $4.83 per family

H.R. 4484
The Y Mountain Access Enhancement Act
Costs $0.00 per family

H.R. 6080
To make improvements in the enactment of title 41, United States Code, into a positive law title and to improve the Code
Costs $0.00 per family

H.R. 6018
The Foreign Relations Authorization Act, Fiscal Year 2013
Costs $148.94 per family

H.R. 6029
The Foreign and Economic Espionage Penalty Enhancement Act of 2012
Costs $0.00 per family

S. 3193
The Barona Band of Mission Indians Land Transfer Clarification Act of 2012
Costs $0.00 per family

Updated Items

H.R. 4078
The Regulatory Freeze for Jobs Act of 2012
Costs $0.00 per family

H.R. 5949
The FISA Amendments Act Reauthorization Act of 2012
Costs $0.00 per family

Passed Items

P.L. 112-145
The District of Columbia Special Election Reform Act
Costs $0.00 per family

P.L. 112-146
The Former Charleston Naval Base Land Exchange Act of 2012
Costs $0.00 per family