S.Amdt. 3092

SA 3092. Mr. PAUL submitted an amendment intended to be proposed by
him to the bill S. 2296, to authorize appropriations for fiscal year
2026 for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. _____. PROHIBITION ON EARNINGS.

Section 19(b) of the Federal Reserve Act (12 U.S.C. 461(b))
is amended by striking paragraph (12) and inserting the
following:
``(12) Earnings on balances.--No Federal Reserve bank may
pay earnings on balances maintained at a Federal Reserve bank
by or on behalf of a depository institution.''.
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