Elizabeth Warren Calls Trump's Tax Bill 'Ugly' For Targeting CFPB: Says It Returned $21 Billion To Cheated Americans

Sen. Elizabeth Warren (D-Mass.) is speaking against President Donald Trump's "big, beautiful bill" for targeting the Consumer Financial Protection Bureau (CFPB).

What Happened: In a post on X, Warren shared her plan to challenge the proposed CFPB funding cuts included in the GOP's reconciliation bill. According to Axios, the bill entails provisions to eliminate the bureau's ability to draw funds from the Federal Reserve. Warren called this an “outrageous attempt to shut down the CFPB and attack American consumers.”

On X, she wrote: "Republicans are trying to gut the Consumer Financial Protection Bureau through funding cuts in Trump's big ugly bill. This agency has returned $21 billion to Americans who got cheated. I'm fighting back."

See Also: Elizabeth Warren Demands Probe Into Alleged Student Loan Data Breach Amid Push To Dismantle Education Department

Why It Matters: Senate Republicans are pushing the bill using the budget reconciliation process, which allows only items directly tied to federal spending and enables passage with a simple majority of 51 votes. Provisions that do not meet those criteria are at risk of removal.

Warren, who was a special adviser to the CFPB during the Obama administration, intends to use this same process to challenge the CFPB cuts, arguing that dismantling a federal agency in this manner is against reconciliation rules.

The GOP plan would lower the CFPB's current access to Federal Reserve funding, which is currently set at 12%, to zero. While the bureau could still request appropriations from Congress, such a change would drastically alter its independence.

Established in 2011 after the financial crisis, the CFPB has since returned over $21 billion to American consumers through enforcement actions, according to its official website.

Last month, reports indicated that the Trump administration is planning to let nearly 90% of its staff go as part of a larger initiative to scale back the agency’s role in monitoring consumer financial protections.

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