Sponsors (6)
The bill strengthens financial-stability monitoring by guaranteeing indexed, predictable funding and staffing for OFR and FSOC, but does so by concentrating budget authority, reducing congressional review and flexibility, and increasing long-term federal costs for taxpayers.
Financial regulators and the public: The Office of Financial Research (OFR) receives a guaranteed minimum annual budget ($124.627M) indexed to the Employment Cost Index and the Director gains clear authority over staffing and appointments, giving the OFR stable, predictable funding and faster hiring to sustain monitoring of systemic financial risks.
Financial oversight community: The Financial Stability Oversight Council (FSOC) is given a mandated minimum staffing level (48 FTEs) and predictable annual funding ($15,287,000, indexed to the Employment Cost Index), improving the council's capacity and continuity for systemic-risk oversight and for operating an independent member office.
Financial regulators: Indexing OFR and FSOC minimum funding levels to the Employment Cost Index helps preserve their real purchasing power over time, reducing erosion of staffing and operational capacity due to inflation.
Taxpayers and democratic accountability: Removing Appropriations Committee review and concentrating sole budgetary authority in the OFR Director reduces congressional oversight and checks and balances over spending, weakening taxpayer accountability.
Taxpayers/fiscal priorities: Guaranteeing multi‑million dollar minimum budgets and automatic ECI indexing increases federal outlays and commits the government to ongoing higher costs, which raises long‑term taxpayer burden and constrains fiscal flexibility.
OFR operations and program flexibility: Mandating at least $15.3M be shifted annually to FSOC reduces funds available for other OFR activities (or forces OFR to seek additional funding), which could impair OFR programs and reallocation ability.
Based on analysis of 3 sections of legislative text.
Gives the OFR Director sole control over OFR budget and staffing, sets minimum budgets/FTEs for OFR and FSOC, and requires an annual OFR-to-FSOC transfer indexed to an employment-cost measure.
Introduced January 16, 2026 by Bill Foster · Last progress January 16, 2026
Gives the Director of the Office of Financial Research (OFR) sole authority over the OFR’s annual budget, staffing levels, and funding decisions, establishes minimum budget and full-time-equivalent (FTE) staffing floors for the OFR, and bars certain congressional committee review of those funding decisions. Also requires the OFR to transfer a specified minimum annual amount to the Financial Stability Oversight Council (FSOC) to fund at least 48 FSOC FTEs, with both OFR and FSOC minimums adjusted each year by changes in the Employment Cost Index for state and local government workers.