CONGRESS FOR VOTERS

RepublicanBill · H.R. 1846· House(119-HR-1846)

Federal Reserve Board Abolition Act

Rep. Massie
Age: 55 years
Kentucky
Introduced
3/5/2025
Last activity
3/5/2025 — Referred to the House Committee on Financial Services.
Sponsored by
Thomas Massie
Cosponsors
Republican - 11Democrat - 0
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the "Federal Reserve Board Abolition Act," seeks to abolish the Board of Governors of the Federal Reserve System and all Federal reserve banks. It also calls for the repeal of the Federal Reserve Act. The dissolution process is set to take effect at the end of a one-year period following the Act's enactment. During this year, the Chairman of the Board of Governors is tasked with managing employees and assets to wind up affairs. Assets will be liquidated by the Director of the Office of Management and Budget to maximize returns to the Treasury. Finally, outstanding liabilities will be assumed by the Secretary of the Treasury.

Yes

  • Does this make the government pay for what it commits to?+5

    The bill directs the liquidation of assets to maximize returns to the Treasury and transfers net proceeds to the General Fund.

  • Does this give the federal government more power?+3

    The bill transfers the management of all Federal Reserve assets and liabilities directly to the Secretary of the Treasury.

  • Does this make what the government does easier for the public to see?+2

    The bill requires the Secretary of the Treasury and the Director of OMB to submit a detailed report to Congress regarding the implementation process.

The opposite

  • Does this reduce what the federal government spends?-5

    The bill abolishes the Federal Reserve System, which removes a significant source of independent monetary authority and structural government-adjacent spending.

  • Would union members be better off under this?-3

    The bill abolishes the positions of employees within the Federal Reserve System and its banks.

  • Would business owners be better off under this?-2

    The abolition of the central banking system creates significant economic uncertainty for businesses.