Kentucky GOP Representative Thomas Massie has introduced a bill to Congress to abolish the Federal Reserve.
Massie’s bill, called the “Federal Reserve Board Abolition Act” would abolish the Board of Governors of the Federal Reserve and the Federal Reserve banks. It also repeals the Federal Reserve Act, the 1913 law that created the Federal Reserve System.
Representative Massie says the Fed is responsible for what he calls “crippling inflation” through actions taken during the COVID-19 pandemic.
20 other Republicans have signed on as co-sponsors of the bill.
This is not the first time this bill has been introduced. It was first brought up by Texas Representative Ron Paul in 1999 and is has not been brought up again since 2013.
The bill can be read in its entirety here.
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