Federal Reserve Board Abolition Act

The Federal Reserve Board Abolition Act is a bill that has been introduced by Rep. Ron Paul (R-Texas) in the 106th, 107th, 108th, 110th and 111th Congresses. If passed, the bill would abolish the Federal Reserve Board.

Bill summary
In its most recent version, in the 111th Congress, the bill would, one year from its enactment, abolish the Board of Governors of the Federal Reserve System and each Federal reserve bank, and repeal the Federal Reserve Act. All outstanding liabilities of the Federal Reserve remaining at the time of its abolition would be assumed by the Department of the Treasury.

Introduced in multiple congresses
Rep. Ron Paul sponsored the act in the 106th, 107th, 108th and 110th Congresses. As of the 110th Congress, it has never made it out of committee and has never received any co-sponsors.

External resources

 * Ron Paul. "Abolish the Federal Reserve," U.S. House of Representatives. September 10, 2002.
 * Ron Paul. "Statement on Federal Reserve Board Abolition Act", U.S. House of Representatives. February 3, 2009