According to Kamala, It's Everyone Else's Fault
Trump’s Reckoning With the United Nations
These First Responders Saved a Life – Now They Might Lose Their Jobs...
Federal Prosecutors Eye Soros Foundation in Explosive New Investigation
Dallas ICE Shooting Latest Example of Left-Wing Terrorism, Which Hit All-Time Highs in...
Bernie Sanders Decries 'Political Pressure' About Kimmel in Glaringly Ironic Letter to Nex...
Alvin Bragg's Office Quietly Dismissed Charges Against Woman Who Assaulted Pro-Life Activi...
Sean Duffy Announces New Emergency Rules to Overhaul CDL Eligibility
Greta Thunberg's Flotilla Suffers Psychological Warfare in Another Brutal Attack
Mass Walkout at UN As Benjamin Netanyahu Takes the Stage
Eighth California Volleyball Team Forfeits Over Transgender Player
JD Vance Demands Jimmy Kimmel Apologize to Erika Kirk Following His Return to...
Georgetown Students React to Flyers Glorifying Charlie Kirk’s Assassination
Why I Cannot Forgive Charlie Kirk's Murderer
Britain's Two-Tier Policing and Enforcement Regime Is Outrageous and Undeniable
Tipsheet

House Republican Introduces Legislation to 'End the Fed'

AP Photo/J. Scott Applewhite

Rep. Thomas Massie (R-KY) introduced legislation that would end the Federal Reserve, an effort first undertaken by former Rep. Ron Paul in 1999. 

Known as the Federal Reserve Board Abolition Act, H.R. 8421 would abolish the Board of Governors of the Federal Reserve and Federal Reserve banks, as well as repeal the 1913 law that created the Federal Reserve System.  

Advertisement

The Kentucky Republican argued Americans’ financial pain is a result of the Fed’s actions. 

"Americans are suffering under crippling inflation, and the Federal Reserve is to blame," Massie said in a statement. "During COVID, the Federal Reserve created trillions of dollars out of thin air and loaned it to the Treasury Department to enable unprecedented deficit spending. By monetizing the debt, the Federal Reserve devalued the dollar and enabled free money policies that caused the high inflation we see today.

"Monetizing debt is a closely coordinated effort between the White House, Federal Reserve, Treasury Department, Congress, Big Banks, and Wall Street," Massie continued. "Through this process, retirees see their savings evaporate due to the actions of a central bank pursuing inflationary policies that benefit the wealthy and connected. If we really want to reduce inflation, the most effective policy is to end the Federal Reserve."

Advertisement

Cosponsors of the legislation include Republican Reps. Andy Biggs (AZ), Lauren Boebert (CO), Josh Brecheen (OK), Tim Burchett (TN), Eric Burlison (MO), Kat Cammack (FL), Michael Cloud (TX), Eli Crane (AZ), Jeff Duncan (SC), Matt Gaetz (FL), Bob Good (VA), Paul Gosar (AZ), Marjorie Taylor Greene (GA), Harriet Hageman (WY), Ralph Norman (SC), Scott Perry (PA), Chip Roy (TX), Keith Self (TX), Victoria Spartz (IN), and Tom Tiffany (WI).


Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos