Bill: Draft New Player Starting Balance Act

[ToadKing]

CONGRESS OF THE
COMMONWEALTH OF REDMONT
​

---

A BILL TO

AMEND THE FEDERAL RESERVE ACT TO TRANSFER AUTHORITY OVER NEW PLAYER STARTING BALANCES

​

---

The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
​

PART I — PRELIMINARIES​

1. Short Title and Enactment

(1) This Act may be cited as the 'New Player Starting Balance Act.'

(2) This Act shall be enacted immediately upon its signage.

(3) This Act has been authored by Rep. ToadKing and the Committee to Save the Economy.

(4) This Act has been co-sponsored by Rep. Malka.

(5) This Act amends the following acts:

(a) Federal Reserve Act

(b) Taxation Act

2. Reasons and Intent

(1) The current Federal Reserve Board's policy to fund new player starting balances from the DCGovernment balance constitutes "government spending" and falls within the exclusive constitutional Power of the Purse held by Congress.

(2) The current starting balance mechanism creates an exposure risk, whereby a sufficiently large influx of new players in a short span of time could exhaust the entirety of the government's funds, threatening the financial stability of the Commonwealth.

(3) The FRB's exclusive authority over starting balances is subject to an excessively high bar for congressional override, being a supermajority in both chambers, which is disproportionate for a spending decision of this nature.

(4) This Act transfers authority over starting balances to the President, acting with the advice of the Secretary of Commerce, subject to a simple majority veto in both chambers of Congress, providing appropriate oversight proportionate to the nature of the power.

(5) It is in the public interest that the Executive, accountable to Congress, retains the ability to respond swiftly and proportionately to circumstances that may pose a systemic financial risk to the Commonwealth, including by adjusting or temporarily suspending new player starting balances.

PART II — AMENDMENTS​

3. Amendments to the Federal Reserve Act

(1) Section 6 of the Federal Reserve Act shall be amended by removing the following subsection:

"(3) The FRB shall have the exclusive authority to set the resources and the source of these resources a player gets when joining DemocracyCraft for the first time."

(2) All subsequent sub-sections shall be renumbered accordingly.

---

4. Amendments to the Taxation Act

(1) The Taxation Act shall be amended by adding the following new section after Section 14:

"15 - New Player Starting Balance

(1) The President, acting with the advice of the Secretary of Commerce, shall have the authority to set the starting balance provided to players joining DemocracyCraft for the first time, and the source from which that balance is drawn.

(2) Prior to any change to the starting balance taking effect, the President must publish a public announcement setting out:

(a) The new starting balance amount;

(b) The source of funds from which it will be drawn; and

(c) The date on which the change will take effect.

(3) A change to the starting balance announced under subsection (2) may be vetoed by a simple majority vote in both chambers of Congress before the change takes effect. A vetoed change shall not take effect.

(4) Where no starting balance has been set under this section, the most recently set policy shall remain in force."

(2) All subsequent sections of the Taxation Act shall be renumbered accordingly.

 

[End]

Nay — we can amend taxation to cover the costs without impacting new players

 

[ToadKing]

I don't think you truly grasp the scale of the potential problem at hand.