Honoring the life of Dr. Paul Farmer by recognizing the duty of the Federal Government to adopt a 21st-century global health solidarity strategy and take actions to address past and ongoing harms that undermine the health and well-being of people around the world.

House Resolution

H.Res. 629

119th Congress

Honoring the life of Dr. Paul Farmer by recognizing the duty of the Federal Government to adopt a 21st-century global health solidarity strategy and take actions to address past and ongoing harms that undermine the health and well-being of people around the world.

In Committee

Introduced:Aug 1, 2025

Primary Sponsor

Grace Meng

Representative

Democratic

NY-6

Cosponsors

4

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would prevent the Federal Reserve from developing or using a central bank digital currency as a tool for monetary policy. It aims to restrict the Federal Reserve's ability to implement new digital currency initiatives.

Latest Action

Referred to the House Committee on Financial Services.

SponsorGrace Meng (D-NY)

Introduced8/1/2025

StatusReferred to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for

ChamberHouse

Data from Congress.gov

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Vote Prediction

Honoring the life of Dr. Paul Farmer by recognizing the duty of the Federal Government to adopt a 21st-century global health solidarity strategy and take actions to address past and ongoing harms that undermine the health and well-being of people around the world.

This bill would prevent the Federal Reserve from developing or using a central bank digital currency as a tool for monetary policy. It aims to restrict the Federal Reserve's ability to implement new digital currency initiatives.

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill would prevent the Federal Reserve from developing or using a central bank digital currency as a tool for monetary policy. It aims to restrict the Federal Reserve's ability to implement new digital currency initiatives.

Bill Number: 629
Sponsor: Grace Meng (D-NY)
Introduced: 8/1/2025
Status: Referred to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Honoring the life of Dr. Paul Farmer by recognizing the duty of the Federal Government to adopt a 21st-century global health solidarity strategy and take actions to address past and ongoing harms that undermine the health and well-being of people around the world.
Bill Number: 629
Sponsor: Grace Meng (D-NY)
Status: Referred to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for
Introduced: 8/1/2025
Summary: This bill would prevent the Federal Reserve from developing or using a central bank digital currency as a tool for monetary policy. It aims to restrict the Federal Reserve's ability to implement new digital currency initiatives.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would prevent the Federal Reserve from developing or using a central bank digital currency as a tool for monetary policy. It aims to restrict the Federal Reserve's ability to implement new digital currency initiatives.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

<p>This resolution expresses the sense of the House of Representatives that the Board of Governors of the<strong> </strong>Federal Reserve System and the Federal Open Market Committee should not be allowed to (1) develop, create, or implement a central bank digital currency; or (2) use any such tool to implement monetary policy.</p>

Key Points

Main provisions of the bill

The bill would prohibit the Federal Reserve from creating or implementing a central bank digital currency.
It would prevent the Federal Reserve from using a digital currency to implement monetary policy decisions.
The bill is focused on limiting the Federal Reserve's authority over new digital currency technologies.

How This Impacts Americans

Potential effects on citizens and communities

If this bill becomes law, it would restrict the Federal Reserve's ability to explore and potentially adopt a central bank digital currency. This could have implications for the government's role in the digital economy and financial innovation, as well as the broader public's access to new digital payment options.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

629, 119th Congress (2025). "Honoring the life of Dr. Paul Farmer by recognizing the duty of the Federal Government to adopt a 21st-century global health solidarity strategy and take actions to address past and ongoing harms that undermine the health and well-being of people around the world.". Source: Voter's Right Platform. https://votersright.org/bills/118-hres-629