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Federal Reserve Abolition: End of US Central Bank

This bill aims to completely abolish the Federal Reserve System, including its Board of Governors and all Federal Reserve banks, within one year of its enactment. This means the US government will take over the management of the Federal Reserve's assets and liabilities, and its functions will cease. For citizens, this could signify fundamental changes in how the nation's economy is managed, including monetary policy and financial stability.
Key points
The Federal Reserve, including its banks, will be abolished within one year.
The Federal Reserve Act will be repealed, ending its legal basis.
Federal Reserve assets will be liquidated, with proceeds going to the Treasury.
All Federal Reserve liabilities, including employee pensions, will be assumed by the Treasury.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_869
Sponsor: Sen. Lee, Mike [R-UT]
Process start date: 2025-03-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Federal Reserve Board Abolition Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_869.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-03-05.

What are the main provisions?

Key points include:

  • The Federal Reserve, including its banks, will be abolished within one year.
  • The Federal Reserve Act will be repealed, ending its legal basis.
  • Federal Reserve assets will be liquidated, with proceeds going to the Treasury.
  • All Federal Reserve liabilities, including employee pensions, will be assumed by the Treasury.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Lee, Mike [R-UT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy