This chapter examines the content of legislation reported out of committee. It focuses on a key stage of the legislative process—reporting a bill from committee. The chapter explains the end product of the policy process originating in committees in the House and Senate, the passage of legislation into law. It shows how the chamber of origin and the other chamber affect legislation reported out of committee. The vast majority of legislation reported out of committee favors financial-industry actors. Identifying beneficiaries of regulatory legislation is a major concern, but determining whether the measures developed are meaningful representations of subsystem politics is perhaps the most important goal. Policy outputs in the Senate and House vary according to subsystem. Although the preceding offers fairly robust support for the proposition that competitive and bank-dominant politics produce different policy outcomes, it glosses over an important subsystem dynamic.