Rep. Ted Budd Introduces the ‘Pay Victims Not Prisoners Act’

| Posted in Press Releases

Washington, D.C. – Today, Rep. Ted Budd (R-NC) introduced the Pay Victims Not Prisoners Act. The bill redirects all stimulus checks paid to federal prisoners under the American Rescue Plan into victim compensation funds. Last month, Rep. Budd uncovered that the Biden administration sent $863 million in stimulus payments to 597,000 federal prisoners under the American Rescue Plan. This…

Rep. Ted Budd Submits Financial Technology Protection Amendment to NDAA

| Posted in Press Releases

Washington, D.C. – Rep. Ted Budd (R-NC) has proposed an amendment to insert his bill, the Financial Technology Protection Act, into the National Defense Authorization Act (NDAA).  The legislation establishes the Independent Financial Technology Task Force to Combat Terrorism and Illicit Financing. The bill has twice passed the House unanimously in 2018 and 2019. The full text of…

Rep. Ted Budd Amendment Would Eliminate Anti-Crypto Provision in COMPETES Act

| Posted in Press Releases

Washington, D.C. – Today, Rep. Ted Budd (R-NC) has proposed an amendment to the America COMPETES Act that would eliminate a provision that gives the Treasury Department unilateral power to prohibit any financial transactions it considers a “concern” without a formal rulemaking process or limitations. Legislative text of the amendment is here Rep. Budd said in a statement: “The…

Rep. Ted Budd Helps Introduce Repeal CFPB Act

| Posted in Press Releases

Washington, D.C. – Rep. Ted Budd has helped introduce H.R. 6409, the Repeal CFPB Act, which would eliminate the Consumer Financial Protection Bureau. The bill was led by Rep. Byron Donalds (R-FL). Rep. Budd said in a statement: “The CFPB has been a textbook example of a federal agency that routinely overreaches it’s authority and completely lacks accountability. Its current director…

Rep. Ted Budd Demands Answers from Treasury Over Boston Bomber’s Stimulus Check

| Posted in Press Releases

Washington, D.C. – Today, Rep. Ted Budd (R-NC) sent a letter to Secretary of the Treasury Janet Yellen regarding the revelation that convicted Boston Marathon bomber Dzhokhar Tsarnaev had received a $1,400 stimulus check from the American Rescue Plan while in federal prison. Rep. Budd is asking the Treasury Department for a full list of federal prisoners who received taxpayer-funded…

Rep. Ted Budd Helps Introduce Bill to Fix Anti-Crypto Provisions in Infrastructure Bill

| Posted in Press Releases

Washington, D.C. -- Today, Rep. Ted Budd (R-NC) joined a bipartisan group of 10 House members to introduce the Keep Innovation in America Act. The bill provides clarity for innovators and investors in financial technology like cryptocurrency and blockchain by fixing the destructive digital asset reporting provisions in the Infrastructure Investment and Jobs Act. Read the full text of the…

The great American cryptocurrency opportunity

| Posted in Opinion Pieces

Rep. Budd’s op-ed in the Washington Times: https://www.washingtontimes.com/news/2021/oct/25/the-great-american-cryptocurrency-opportunity/ Due to China’s anti-free market mentality, the United States has an economic opening on financial technology, and we need to seize it. China escalated its war on economic freedom by banning all crypto transactions in September. This is nothing…

Rep. Ted Budd Sponsors Bill Prohibiting IRS Bank Surveillance

| Posted in Press Releases

Washington, D.C. -- Rep. Ted Budd (R-NC) has helped introduce H.R. 5586, the Prohibiting IRS Financial Surveillance Act. The bill would prohibit the Internal Revenue Service (IRS) from implementing any form of the Biden Administration’s proposed bank surveillance plan. The bill was originally introduced by Rep. Drew Ferguson (R-GA). Rep. Budd said in a statement: “President Biden…

Rep. Ted Budd Sends Letter to Fed Chair on New Debit Card Regulations

| Posted in Press Releases

Washington, D.C. -- Today, Rep. Ted Budd (R-NC), who sits on the House Financial Services Committee, sent a letter to Federal Reserve Chairman Jerome Powell expressing his concern about the Fed’s plans to expand already destructive government mandates and regulations on debit cards. The text of the letter is below: Dear Chairman Powell: As a Member of Congress serving on the…

Rep. Ted Budd Introduces No Red and Blue Banks Act

| Posted in Press Releases

Washington, D.C. -- Today, Rep. Ted Budd (R-NC) introduced the No Red and Blue Banks Act.  The bill would prohibit the federal government from entering into contracts with banks that discriminate against lawful businesses based solely on social policy considerations. The bill would direct that the General Services Administration not award contracts to insured depository…

Stay Connected

Use the form below to sign up for my newsletter and get the latest news and updates directly to your inbox.