summary
Introduced
03/22/2018
03/22/2018
In Committee
03/22/2018
03/22/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
To define the dollar as a fixed weight of gold.
AI Summary
This bill aims to define the US dollar as a fixed weight of gold. The key provisions include: 1) The Secretary of the Treasury shall define the dollar in terms of a fixed weight of gold based on the current market price. 2) Federal Reserve Banks shall make Federal Reserve notes exchangeable with gold at the statutory gold definition of the dollar. 3) During a 30-month transition period, the US government shall disclose all of its gold holdings and any purchases or sales, to help the market establish the fixed dollar-gold parity in an orderly manner. The bill is intended to address concerns about the declining purchasing power of the US dollar and the impact of Federal Reserve policies on manufacturing competitiveness and employment.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 03/22/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/house-bill/5404/all-info |
| BillText | https://www.congress.gov/115/bills/hr5404/BILLS-115hr5404ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr5404/BILLS-115hr5404ih.pdf.pdf |
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