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Red Tape Reduction Act of 2023

S. 1725 Sen. Sherrod Brown (D-OH) In committee
Bill text PDF
  1. Introduced May 18
  2. Committee May 18
  3. Passed Senate Next
  4. Passed House Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, May 18, 2023Next: Senate vote
1259d ago May 18, 2023: Read twice and referred to the Committee on Finance.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
1company, 1 filing
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Summary

Red Tape Reduction Act of 2023

Full summary1 paragraphs

This bill modifies the reporting requirements for payments made in settlement of payment card and third party network transactions. Under current law, settlement organizations are not required to report information for transactions that do not exceed $600. This bill increases the reporting threshold so that settlement organizations are exempt from reporting requirements if the applicable transactions do not exceed $10,000, or there are no more that 50 such transactions.

Library of Congress summary, May 18, 2023

Summary versions
  • Introduced in SenateMay 18, 2023

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.