S.2843

Federal Reserve Accountability for Major Expenditures Act requires congressional approval for Federal Reserve capital expenditures over $100 million.

The Federal Reserve Accountability for Major Expenditures Act, also known as the FRAME Act, mandates that the Federal Reserve cannot make any capital expenditure exceeding $100 million unless Congress enacts a joint resolution disapproving the expenditure within 60 days. The bill outlines expedited procedures for considering such joint resolutions in both the House of Representatives and the Senate, including limited debate and specific rules for handling vetoes. The act aims to increase transparency and congressional oversight of significant Federal Reserve spending.