Friends, 

I hope you are doing well. As your Representative in Congress, it’s a priority to keep you informed of how we're serving you. If you would like to stay up to date, check out our website, and follow our Facebook, Twitter, and Instagram pages.

Looking forward to seeing you in Georgia's 11th Congressional District or in Washington, D.C. soon.  

God Bless,

Rep. Barry Loudermilk

U.S. Congressman, Georgia's Eleventh District

Washington, D.C. (January 23, 2026) | - Rep. Barry Loudermilk (GA-11) issued the following statement following the Financial Reporting Threshold Modernization Act (H.R. 1799) Advancing Out of the House Committee on Financial Services.

"I am pleased that my legislation has passed out of committee, and I extend my sincere thanks to my colleagues for their support on this key issue. When Congress passed the Bank Secrecy Act of 1970, they did so with the clear intent to monitor significant and unusual financial transactions. As inflation increased, the 10K threshold that the Department of Treasury implemented five decades ago is now effectively outdated and includes incredible amounts of common transactions, such as used car purchases and small business cash deposits , exemplifying the need for modernization. Treasury must update these thresholds in order to properly align with the realities of the 21st Century.
 
“My bill simply raises the currency transaction reporting threshold from 10K to 30K, and indexes it to inflation. It would also update certain thresholds for suspicious activity reports, where such thresholds exist, and index them to inflation. These updates would reduce the compliance burden for banks and credit unions by sixty to eighty percent, reduce the need to report arbitrary cash transactions, and ensure law enforcement maintains access to this information as needed. Furthermore, raising these thresholds will enhance customer privacy and allow federal law enforcement and intelligence agencies to focus only on the data that really matters. Modern threats deserve modern approaches, to counter evolving risks, encourage proactive reporting and changes in money laundering and terrorist financing ecosystems. ”
 
Summary of the Financial Reporting Threshold Modernization Act:
•    Raises the Currency Transaction Report (CTR) threshold from $10,000 to $30,000.
•    Raises the Suspicious Activity Report (SAR) thresholds from $5,000 to $10,000 
•    Makes continuing adjustments for inflation, updating the CTR and SAR thresholds every five years.
•    Aligns other reporting thresholds for money service businesses with the increase in the CTR and SAR thresholds, with proportionate increases where applicable.
•    Requires Treasury, in consultation with private stakeholders and law enforcement, to review and submit a report to Congress on Bank Secrecy Act forms, reporting, and record-keeping requirements to ensure these forms remain effective and efficient.

Click here to read full bill text

H.R. 7148 – Consolidated Appropriations Act, 2026 (Sponsored by Rep. Cole / Appropriations Committee)

H.R. 7147 – Department of Homeland Security Appropriations Act, 2026 (Sponsored by Rep. Cole / Appropriations Committee)

H.R. 6945 – Supporting Pregnant and Parenting Women and Families Act (Sponsored by Rep. Fischbach / Ways and Means Committee)

H.J. Res. 140 – Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Land Management relating to Public Land Order No. 7917 for Withdrawal of Federal Lands; Cook, Lake, and Saint Louis Counties, MN. (Sponsored by Rep. Stauber / Natural Resources Committee)

Congressman Loudermilk has cosponsored H.R. 5438, the Incentivize Savings Act, sponsored by Rep. Rich McCormick (R-GA)
 - The bill would authorize the following uses of money saved in a fiscal year by a federal agency:
 - 49% used to pay down the national debt
 - 49% rolls over into the agency’s budget for the subsequent fiscal year
 - 2% used for agency retention bonuses
 
By giving agencies reasons to want to save money, this bill could help reverse the trend of growing agency spending and get our nation’s financial house back in order.

Notice to High School students in Georgia's 11th Congressional District, the 2026 Congressional Art Competition is now open and accepting entries. Please visit http://loudermilk.house.gov for more information.

The United States is celebrating its 250th birthday this year, and we are promoting a patriotic theme for our artwork entries. Thank you in advance for your participation.

Click HERE to read more

"Recently, the U.S. Department of Justice announced JobCorps will begin a phased pause in operations – but, there are still great free and low-cost programs to help young adults build their futures.”
 
Check out these alternatives:
✅ Georgia Youth ChalleNGe Program – Residential program for ages 16–18 focused on education + job skills.
✅ Technical College System of Georgia (TCSG) – Hands-on training in trades, healthcare, IT & more.
✅ Xcel Strategies – mentoring young people in Soft Skills, Job Skills and Trade Skills
✅ Georgia Building Trades Academy YouthBuild – For ages 16–24: GED prep, construction training, and leadership.
✅ Goodwill Career Centers – Job search help, workshops, and training all across GA.
 

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