[Congressional Record Volume 171, Number 130 (Tuesday, July 29, 2025)]
[Senate]
[Page S4840]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3092. Mr. PAUL submitted an amendment intended to be proposed by 
him to the bill S. 2296, to authorize appropriations for fiscal year 
2026 for military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. _____. PROHIBITION ON EARNINGS.

       Section 19(b) of the Federal Reserve Act (12 U.S.C. 461(b)) 
     is amended by striking paragraph (12) and inserting the 
     following:
       ``(12) Earnings on balances.--No Federal Reserve bank may 
     pay earnings on balances maintained at a Federal Reserve bank 
     by or on behalf of a depository institution.''.
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