Senators Scott and Cruz propose legislation to prevent the Federal Reserve from paying interest on bank reserves.
Quiver AI Summary
Senators Rick Scott and Ted Cruz have introduced the Fiscal Accountability for Interest on Reserves (FAIR) Act, aimed at stopping the Federal Reserve from paying banks interest on their reserves. The legislation comes in response to a projected $1 trillion in interest payments to banks over the next decade, which the senators describe as wasteful.
Scott criticized the Federal Reserve's current practices, stating the bank has operated at a loss since 2022 and failed to serve the interests of American families. Cruz added that the interests paid to big banks weaken fiscal responsibility and urged a shift to support small businesses.
Representative Warren Davidson is sponsoring a companion bill in the House, arguing that banks should direct their capital into loans rather than relying on government payments. He characterized the practice as detrimental to the Treasury and market function.
Disclaimer: This is an AI-generated summary of a press release. The model used to summarize this release may make mistakes. See the full release here.
Rick Scott Net Worth
Quiver Quantitative estimates that Rick Scott is worth $553.9M, as of July 30th, 2025. This is the 2nd highest net worth in Congress, per our live estimates.
Scott has approximately $51.5M invested in publicly traded assets which Quiver is able to track live.
You can track Rick Scott's net worth on Quiver Quantitative's politician page for Scott.
Rick Scott Bill Proposals
Here are some bills which have recently been proposed by Rick Scott:
- S.2406: A bill to amend the Immigration and Nationality Act to authorize admission of Canadian retirees as long-term visitors for pleasure described in section 101(a)(15)(B) of such Act, and for other purposes.
- S.2384: A bill to monitor United States investments in entities that are controlled by foreign adversaries, and for other purposes.
- S.2382: A bill to amend the Sarbanes-Oxley Act of 2002 to provide for disclosure regarding foreign jurisdictions that hinder inspections, and for other purposes.
- S.2314: SHARKED Act of 2025
- S.2313: A bill to amend the Internal Revenue Code of 1986 to provide an above-the-line deduction for flood insurance premiums.
- S.2297: Preventing Intelligence Gathering from Foreign Adversaries Act
You can track bills proposed by Rick Scott on Quiver Quantitative's politician page for Scott.
Rick Scott Fundraising
Rick Scott recently disclosed $242.1K of fundraising in a Q2 FEC disclosure filed on July 15th, 2025. This was the 356th most from all Q2 reports we have seen this year. 37.2% came from individual donors.
Scott disclosed $343.5K of spending. This was the 134th most from all Q2 reports we have seen from politicians so far this year.
Scott disclosed $732.9K of cash on hand at the end of the filing period. This was the 368th most from all Q2 reports we have seen this year.
You can see the disclosure here, or track Rick Scott's fundraising on Quiver Quantitative.
