Official Congressional voting records

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.