Bill > HR1846

This bill proposes to completely abolish the Board of Governors of the Federal Reserve System (the Fed) and all Federal reserve banks within one year of the Act's enactment, and simultaneously repeal the Federal Reserve Act. During the one-year dissolution period, the current Chairman of the Federal Reserve Board will manage the winding down of operations, including handling employee compensation, managing assets and liabilities, and preparing for liquidation. The Director of the Office of Management and Budget (OMB) will be responsible for liquidating all Fed assets in an orderly manner to maximize returns to the U.S. Treasury. Any net proceeds from the asset liquidation will be transferred to the Treasury's General Fund, and all outstanding liabilities of the Federal Reserve—including retirement and employee benefits—will become the responsibility of the Secretary of the Treasury. At the end of 18 months, the Secretary of the Treasury and the OMB Director must submit a joint report to Congress detailing the implementation of the Act and any remaining unresolved issues. This bill effectively eliminates the central banking system that has managed U.S. monetary policy since 1913.

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https://www.congress.gov/bill/119th-congress/house-bill/1846/all-info