CONGRESS FOR VOTERS

Tim Scott (R-SC)

Community Investment and Prosperity Act

S. 2464 · Senate bill Finance and Financial Sector

A Republican bill with 4 Democratic cosponsors · See all 9 cosponsors

Last activity — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill is titled the "Community Investment and Prosperity Act." It aims to allow the Comptroller of the Currency and the Board of Governors of the Federal Reserve System to increase the aggregate amount of investments certain banks can make. Specifically, it targets national banking associations and State member banks. The legislation seeks to enable these institutions to make more investments to promote the public welfare. It achieves this by amending specific sentences within the Revised Statutes and the Federal Reserve Act.

Yes· 3 of 7

  • Scored +3

    Is this likely to create jobs?

    Increasing the cap on public welfare investments by banks may stimulate economic activity and job growth.

  • Scored +3

    Is this likely to grow the economy?

    The bill enables banks to allocate more capital toward public welfare initiatives, which can stimulate economic growth.

  • Scored +2

    Does this make it easier to run a small business?

    Increased investment in public welfare by banks can indirectly support community-based small business environments.

The opposite

No question was scored the opposite.