{"database": "press", "table": "releases", "rows": [["https://www.paul.senate.gov/icymi-dr-rand-pauls-end-the-feds-big-bank-bailout-act-considered-in-the-senate/", "ICYMI: Dr. Rand Paul\u2019s End the Fed\u2019s Big Bank Bailout Act Considered in the Senate", "2025-10-10", "2025", "2025-10", "Republican", "Senate", "KY", "Rand Paul", "P000603", "www.paul.senate.gov", "paul", "https://www.paul.senate.gov/news/", "scraper", "FOR IMMEDIATE RELEASE:\n\nOctober 10th, 2025\n\nContact: Press_Paul@paul.senate.gov, 202-224-4343\n\nICYMI: Dr. Rand Paul\u2019s End the Fed\u2019s Big Bank Bailout Act Considered in the Senate\n\nWASHINGTON, D.C. \u2014 U.S. Senator Rand Paul (R-KY) delivered remarks on the Senate floor ahead of consideration of his amendment to the Fiscal Year 2026 National Defense Authorization Act, the End the Fed\u2019s Big Bank Bailout Act.\n\nThis legislation targets the Federal Reserve\u2019s twin types of interest payments that act as subsidies for big banks: Interest on Reserve Balances (IORB) and the Overnight Reverse Repurchase Agreement (ONRRP). Together, these two subsidies have cost taxpayers more than half a trillion dollars in just the last five years.\n\nThe amendment failed (14-82).\n\nRemarks as delivered:\n\n\u201cThe Federal Reserve pays both foreign and domestic banks to simply park their money in Fed accounts. In other words, to not loan money at all. Over the past five years, the Fed\u2019s big bank bailout amounts to over half a trillion dollars.\n\nThis bailout causes the Fed to operate at a loss, which means that the Fed cannot remit profits to the taxpayer as it normally does. According to the economist Judy Shelton, if these payments stopped, banks would buy treasury securities and would bring interest rates down.\n\nSome people say that this program is a floor to interest rates. My amendment ends these subsidies. Let\u2019s end the Fed\u2019s big bank bailout. Let\u2019s lower interest rates. Please vote for my amendment.\u201d\n\nWatch the remarks HERE.\n\nRead the bill HERE.\n\n###", 1, "2026-04-04T05:28:40Z", "2026-04-04T05:30:10Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.paul.senate.gov/icymi-dr-rand-pauls-end-the-feds-big-bank-bailout-act-considered-in-the-senate/"], "units": {}, "query_ms": 0.8712881244719028, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}