United States · Bill · S
S. 1725 (118th)
Red Tape Reduction Act of 2023
Introduced
18 May 2023
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
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Subjects
Discovery layer
Source updated
5 December 2025
Summary
Red Tape Reduction Act of 2023 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.
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Votes
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Versions
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 18 May 2023
Introduced in Senate (PDF)
Introduced in Senate · EN · 18 May 2023
Introduced in Senate
summary · EN · 18 May 2023
Sponsors
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Related records
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/118th-congress/senate-bill/1725
- Open data entity: https://api.congress.gov/v3/bill/118/s/1725