CONGRESS FOR VOTERS

Ted Cruz (R-TX)

Federal Insurance Office Abolishment Act of 2026

S. 5158 · Senate bill Finance and Financial Sector

A Republican bill with 3 Republican cosponsors · See all 3 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

The Federal Insurance Office Abolishment Act of 2026 aims to eliminate the Federal Insurance Office within the Department of the Treasury. This bill also abolishes the position of the Director of the Federal Insurance Office. It includes several technical amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act. Additionally, it modifies the Economic Growth, Regulatory Relief, and Consumer Protection Act. The legislation ensures that the Secretary of the Treasury retains authority regarding insurance matters.

Yes

  • Scored +1

    Would business owners be better off under this?

    The elimination of the Federal Insurance Office may reduce the regulatory burden on insurance-related businesses.

  • Scored +1

    Does this reduce what the federal government spends?

    The bill reduces spending by abolishing a specific federal office and its director position.

The opposite

  • Scored -2

    Does this give people more protection from unfair business practices?

    The abolition of the Federal Insurance Office may reduce oversight and consumer protection within the insurance market.

  • Scored -1

    Does this give the federal government more power?

    The bill reduces federal bureaucracy by eliminating the Federal Insurance Office.