Referred to the House Committee on Financial Services.
The bill abolishes the Board of Governors of the Federal Reserve System and all Federal Reserve Banks one year after enactment, repeals the Federal Reserve Act, and requires a one-year wind‑down. During the year, the Fed chairman (with Treasury approval) manages winding up operations, OMB liquidates assets, net proceeds transfer to the Treasury, and the Treasury assumes remaining liabilities.
Independence vs democratic control: central bank autonomy contested.
Sweeping, high-stakes change to monetary framework with large fiscal risks and broad likely opposition; limited compromise features.
The bill abolishes the Board of Governors of the Federal Reserve System and all Federal Reserve Banks one year after enactment, repeals the Federal Reserve Act, and requires a one-year wind‑down.
During the year, the Fed chairman (with Treasury approval) manages winding up operations, OMB liquidates assets, net proceeds transfer to the Treasury, and the Treasury assumes remaining liabilities.
A joint report to Congress is required after 18 months describing implementation and outstanding issues.
Radical institutional change with large fiscal and market implications, minimal implementation detail, and little built‑in compromise makes enactment highly unlikely.
How solid the drafting looks.
Independence vs democratic control: central bank autonomy contested.
These are examples from the analysis, not a ranked list of the most-affected groups.
Independence vs democratic control: central bank autonomy contested.
Likely strongly opposed.
The persona views the Federal Reserve as essential for monetary stability, bank supervision, and crisis management, and sees abolition as reckless and destabilizing.
They worry about lost consumer protections and increased economic insecurity.
Cautiously opposed overall.
Sees legitimate concerns about central-bank power but fears the law's rapid, under-specified abolition will cause market disruption.
Wants an orderly, detailed transition and clear assignment of monetary and supervisory roles.
Generally supportive.
Views abolition as correcting overreach by an unelected central bank, returning monetary authority to elected officials, and preventing bailouts and unchecked monetary expansion.
Cautions exist about ensuring an orderly transition, but benefits outweigh risks.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Radical institutional change with large fiscal and market implications, minimal implementation detail, and little built‑in compromise makes enactment highly unlikely.
The bill has not accumulated any surfaced votes yet.
Independence vs democratic control: central bank autonomy contested.
Radical institutional change with large fiscal and market implications, minimal implementation detail, and little built‑in compromise makes…
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