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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The Federal Reserve Act will be repealed, ending its legal basis.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.
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Status: Introduced
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Additional Information
Print number: 119_S_869
Sponsor: Sen. Lee, Mike [R-UT]
Process start date: 2025-03-05
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

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  • The Federal Reserve Act will be repealed, ending its legal basis.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.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy