June 20, 2025

Statement by Senator Warren on Senate Parliamentarian Advising on Republican Provisions in Budget Bill

Washington, DC – The Senate Parliamentarian advised on several provisions in Chairman of the Senate Banking, Housing, and Urban Affairs’ Committee Tim Scott’s section of Donald Trump’s so-called “Big, Beautiful Bill.” The Parliamentarian agreed that the funding cap for the Consumer Financial Protection Bureau (CFPB), elimination of the Public Company Accounting Oversight Board (PCAOB), gutting of the Office of Financial Research and Financial Stability Oversight Council, and slashing Federal Reserve staff salaries violate the Senate’s Byrd Rule. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement: 

“These proposals are a reckless, dangerous attack on consumers and would lead to more Americans being tricked and trapped by giant financial institutions and put the stability of our entire financial system at risk–all to hand out tax breaks to billionaires. Democrats fought back, and we will keep fighting back against this ugly bill.”

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