ENROLLED
2023 Regular Session
HOUSE CONCURRENT RESOL UTION NO. 71
BY REPRESENTATIVES AMEDEE AND GAROF ALO
A CONCURRENT RESOL UTION
To urge and request the United States Congress to not support legislation, or other efforts,
relating to the adoption of a central bank digital currency in the United States.
WHEREAS, on March 9, 2022, President Joseph R. Biden issued Executive Order
14067 (executive order), "Ensuring Responsible Development of Digital Assets", to establish
a broad interagency effort to study and develop a United States central bank digital currency
(CBDC); and
WHEREAS, the executive order established an interagency effort to develop "Policy
and Actions Related to United States Central Bank Digital Currencies"; and
WHEREAS, the executive order states, "within 180 days of the date of this order, the
Secretary of the Treasury, in consultation with the Secretary of State, the Attorney General,
the Secretary of Commerce, the Secretary of Homeland Security, the Director of the Office
of Management and Budget, the Director of National Intelligence, and the heads of other
relevant agencies, shall submit to the President a report on the future of money and payment
systems"; and
WHEREAS, the executive order states the term "central bank digital currency" or
CBDC refers to a form of digital money or monetary value, denomination in the national unit
of account, that is a direct liability of the central bank; and
WHEREAS, the executive order requires the United States attorney general, together
with the secretary of the Treasury and the chairman of the Federal Reserve, to provide the
president a legislative proposal for a CBDC within two hundred ten days of the executive
order; and
WHEREAS, The Federal Reserve bank of New York and ten financial institutions
completed testing of certain features related to a CBDC in 2022; and
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WHEREAS, the CBDC under development and testing pursuant to the executive
order will include programmable design features that will control the ability of a person to
freely utilize the CBDC; and
WHEREAS, a United States CBDC raises significant concerns over privacy for
individuals and businesses in Louisiana; and
WHEREAS, the adoption of a CBDC by the federal government would be an
unacceptable expansion of federal authority; and
WHEREAS, the adoption of a CBDC by the federal government would hand over
to the Federal Reserve unprecedented control of the lives, freedoms, choices, and
sovereignty of the people of Louisiana.
THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
urge the United States Congress not to support legislation, or other efforts, relating to the
adoption of a central bank digital currency in the United States.
BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
president of the United States, the presiding officers of the Senate and the House of
Representatives of the United States Congress, the chairman of the Federal Reserve, the
secretary of the Treasury, and each member of the Louisiana congressional delegation.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
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