HR 8421
Federal Reserve Board Abolition Act
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- Passed House
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- Became Law
Bill overview
This bill proposes to abolish the Board of Governors of the Federal Reserve System and the Federal Reserve banks, effectively ending the Federal Reserve’s operation. It aims to repeal the Federal Reserve Act and transfer the Board’s assets and liabilities to the Secretary of the Treasury. The transition would occur within one year of the bill’s enactment, with the Chairman of the Board overseeing the winding down of operations and liquidation of assets. A final report detailing the implementation process will be submitted to Congress after 18 months.
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Primary sponsor
Cosponsors
Bob Good
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