Fitzgerald Votes to Pass the CBDC Anti-Surveillance State Act

WASHINGTON, DC – Congressman Scott Fitzgerald (WI-05) issued thefollowing statement after voting to pass H.R. 5403, the CBDC Anti-SurveillanceState Act. This legislation ensures the Federal Reserve cannot issue any potential central bank digital currency (CBDC) without the express authority of Congress. A CBDC would dramatically increase Federal Reserve’s role and responsibilities beyond traditional monetary policy and regulatory functions and effectively enter the Federal Reserve into the consumer banking market.

“As the Biden Administration increasingly weaponizes the federal government, it is critical that Congress take action to keep unelected bureaucrats from turning our financial system into a quasi-surveillance state,” said Rep. Fitzgerald. “TheBiden Administration has already shown an appetite for creating a central bank digital currency, and Congress must not allow this to happen. I voted for the CBDCAnti-Surveillance State Act today to reinforce the American values of privacy, individual sovereignty, and free market competitiveness.”

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