Federal Reserve Board Abolition Act

3/28/2025, 11:51 AM

Summary of Bill S 869

Bill 119 s 869, also known as the "Federal Reserve Abolition Act," is a proposed piece of legislation that aims to eliminate the Board of Governors of the Federal Reserve System and the Federal Reserve banks. The bill also seeks to repeal the Federal Reserve Act, which established the Federal Reserve System in 1913.

If passed, this bill would effectively dissolve the Federal Reserve System, which serves as the central banking system of the United States. The Federal Reserve plays a crucial role in regulating the country's monetary policy, overseeing the banking system, and maintaining financial stability.

Proponents of the bill argue that the Federal Reserve has too much power and influence over the economy, and that its actions can have negative consequences for the American people. They believe that abolishing the Federal Reserve would lead to a more stable and prosperous economy. Opponents of the bill, however, argue that the Federal Reserve plays a vital role in managing the economy and preventing financial crises. They warn that abolishing the Federal Reserve could have serious repercussions, including destabilizing the financial system and causing economic turmoil. Overall, Bill 119 s 869 is a controversial piece of legislation that raises important questions about the role of the Federal Reserve in the US economy. It remains to be seen whether this bill will gain enough support to pass in Congress.

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Current Status of Bill S 869

Bill S 869 is currently in the status of Bill Introduced since March 5, 2025. Bill S 869 was introduced during Congress 119 and was introduced to the Senate on March 5, 2025.  Bill S 869's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of March 5, 2025

Bipartisan Support of Bill S 869

Total Number of Sponsors
3
Democrat Sponsors
0
Republican Sponsors
3
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 869

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 869

A bill to abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.A bill to abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.
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Comments

Sponsors and Cosponsors of S 869

R
Mike Lee
Utah(Republican)

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