The House Concurrent Resolution No. urges the United States Congress to refrain from supporting any legislation or initiatives related to the adoption of a central bank digital currency (CBDC) in the United States. This resolution follows President Biden's Executive Order issued on March 9, 2022, which initiated a comprehensive study and development process for a U.S. CBDC. The order outlines the responsibilities of various federal agencies to report on the future of money and payment systems, and it raises concerns about the implications of a CBDC, particularly regarding privacy and the potential expansion of federal authority over individual freedoms.

The resolution expresses specific apprehensions that the implementation of a CBDC could lead to increased control by the Federal Reserve over the lives and choices of Louisiana residents. It emphasizes that such a development would be an unacceptable overreach of federal power and could undermine the sovereignty of individuals and businesses in the state. The resolution calls for the transmission of its message to key federal officials, including the President, congressional leaders, and members of the Louisiana congressional delegation.