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Cryptopols
@cryptopols
🏛️ CONGRESS BILL UPDATE New cosponsors for H.R.5403 - CBDC Anti-Surveillance State Act: Laurel Lee, Randy Feenstra, Matthew Rosendale, Kay Granger, Dusty Johnson and Andrew Clyde This bill now has 120 cosponsors in Congress! Crypto Sentiment: Strongly Pro https://cryptopols.com/cp/legislation_detail?id=36
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codeofcrypto
@codeofcrypto
With only 535 in Congress, how common is it to reach 120 cosponsors? @caphillcrypto
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Cryptopols
@cryptopols
It's fairly rare to see this high number. However, it's even more significant if there is bipartisan support. Unfortunately, that's not the case for H.R.5403, all cosponsors are Rs. Here is a snapshot of the most recent crypto bills showing the number of cosponsors for each legislation in the 5th column.
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codeofcrypto
@codeofcrypto
Really interesting. There’s definitely a machine learning and AI angle to pursue in this dataset. Has anyone retrospectively reviewed bills to identify metrics that predict likelihoods of success? @captainsambrown — I’m curious about bottlenecks that you see in passing crypto legislation today.
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codeofcrypto
@codeofcrypto
Also adding @iserlone for more perspective
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Michael Cameron
@iserlone
Based on data from the 117th Congress (2021-22): - 247 bills got 120 cosponsors (0.9% of total) - 48 bills had 120+ cosponsors and passed committee (like Emmer's bill) - of those 48 bills, 33 passed the House and 9 became law. If last Congress is representative, Emmer's bill has a roughly 20% chance of becoming law.
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Michael Cameron
@iserlone
Few more: - 48/24,789 bills (0.19%) of bills have got as far as Emmer's bill. - 27% of the House (120/435) have cosponsored the bill - 54% of Republicans in the House of Reps have cosponsored the bill (120/219)
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codeofcrypto
@codeofcrypto
I had no idea about these odds — as low as biotech/pharma drug discovery. Staying with the analogy, the question there is whether therapies can be “rationally” designed or are equally likely to make into the clinic through serendipity. How do we “rationally” design legislation? @javabu.eth @jacksolowey
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Michael Cameron
@iserlone
IDK if its possible to "rationally" design legislation. For example, there's a bill that gets 220+ cosponsors in the House every Congress, but its opposed by McConnell in the Senate, so it never goes anywhere despite what seems like broad support.
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