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Nature of legislative actions inspired by HR 8421 by end of 2024
5
Thomas Massie•End the Fed•Federal Reserve System•Board of Governors•Federal Reserve•Massie•Marjorie Taylor Greene
Resolution / Starting Odds
Increased legislative activity to end the Fed • 25%
No significant legislative initiatives • 25%
Counter-proposals to strengthen the Fed • 25%
Broad financial reform proposals • 25%
Legislative proposals and news reports
Story
Rep. Thomas Massie Introduces HR 8421 to Abolish Federal Reserve
May 16, 2024, 09:20 PM
U.S. Congressman Thomas Massie has introduced the 'End the Fed' legislation on May 16, formally titled the Federal Reserve Board Abolition Act (HR 8421). The bill aims to repeal the Federal Reserve Act of 1913, effectively abolishing the Federal Reserve System, including the Board of Governors and the Federal Reserve banks. Massie argues that the Federal Reserve devalues the currency by monetizing debt, which leads to inflation. The proposal has garnered significant public interest, with over 54,000 people voting in favor of ending the Federal Reserve in a poll conducted by Massie, with an earlier poll showing over 25,000 votes. Representative Marjorie Taylor Greene has cosponsored the bill.
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Legislation limiting FTC powers • 25%
Public hearings held • 25%
No significant action • 25%
Resolution supporting FTC • 25%
New legislation passed to curb SEC powers • 33%
No significant legislative changes • 33%
Proposals made but not passed • 34%
Further rate adjustments • 25%
Adjustment of balance sheet policies • 25%
Introduction of new regulatory measures • 25%
No major policy changes • 25%
New legislation passed • 33%
No new legislation • 33%
Amendments to existing laws • 34%
Increased corporate taxes • 25%
Reduced capital gains taxes • 25%
New fiscal stimulus • 25%
No significant changes • 25%
Significant increase • 25%
Significant decrease • 25%
Minimal impact • 25%
High volatility • 25%
No major legislative changes • 33%
Restrictions on similar fundings • 33%
Complete overhaul of funding policies • 34%
Stricter regulations imposed • 33%
Looser regulations imposed • 33%
No significant change • 33%
Formal hearing with FDIC officials • 25%
Legislation aimed at reforming FDIC • 25%
No significant action • 25%
Investigation into other financial agencies • 25%
Support exceeds 50% • 25%
Support between 30% and 50% • 25%
Support below 30% • 25%
Support not measured • 25%
New legislation passed • 33%
Existing rules reinforced • 33%
No significant changes • 34%