To amend the Federal Reserve Act to remove the mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to focus on maximum employment.

Cost and committee reports

Official records Congress.gov attaches to H.R. 245.

• Constitutional authority statementThe sponsor’s statement of where the Constitution gives Congress the power to pass this bill. Statement by Mr. PENCE, as printed in the Congressional Record (Page H137):
  The Congress enacts this bill pursuant to Clause 5 of Section 8 of Article I of the United States Constitution.
  Source: Congress.gov, record updated April 7, 2025 ↗

  Evidence

  Field in the Congress.gov record

  constitutionalAuthorityStatementText

  Statement length

  111 characters

  Congress.gov bill record

  H.R. 245, 112th Congress

  Congress.gov API record

  https://api.congress.gov/v3/bill/112/hr/245

  Record last updated by Congress.gov

  April 7, 2025

  PORKER copy retrieved

  September 25, 2026

  Stored copy, SHA-256 of the file

  3fd974f0587bec86ea27b518f1dfef2c9ba483cc0e43bac58fa5448a5cf664f3

  PORKER shows the statement exactly as printed, with the page markup removed. It is the sponsor’s claim; it is not a legal finding.

Congress.gov’s record for this bill does not list a CBO cost estimate or a committee report (as of April 7, 2025). Not every bill gets one.

From the Congress.gov bill record for H.R. 245, last updated April 7, 2025. PORKER’s copy was retrieved September 25, 2026 and is refreshed nightly. Open “Evidence” on any line for the record, field and file fingerprint.