Please read this page and support Congressman Ron Paul. Write to your congressmen and senators and tell them that they w= ill not have your support unless they endorse this legislation to ab= olish the Federal Reserve, sunset the Bretton Woods Agreement and am= end the Social Security Act and these others acts. 106th CONGRESS 1st Session H. R. 1148 To abolish the Board of Governors of the Fede= ral Reserve System and the Federal reserve banks, to repe= al the Federal Reserve Act, and for other purposes. IN THE HOUSE OF REPRESENTATIVES March 17, 1999 Mr. PAUL introduced the following bill; which= was referred to the Committee on Banking and Financial Services ---------------------------------------------= --------------------------------------------------- A BILL To abolish the Board of Governors of the Fede= ral Reserve System and the Federal reserve banks, to repe= al the Federal Reserve Act, and for other purposes. Be it enacted by the Senate and House of Repr= esentatives of the United States of America in Congress asse= mbled, SECTION 1. SHORT TITLE. This Act may be cited as the `Federal Reserve= Board Abolition Act'. SEC. 2. FEDERAL RESERVE BOARD ABOLISHED. (a) IN GENERAL- Effective at the end of the 1= -year period beginning on the date of the enactment of thi= s Act, the Board of Governors of the Federal Reserve System an= d each Federal reserve bank are hereby abolished. (b) REPEAL OF FEDERAL RESERVE ACT- Effective = at the end of the 1-year period beginning on the date of the enactment= of this Act, the Federal Reserve Act is hereby repealed. (c) DISPOSITION OF AFFAIRS- (1) MANAGEMENT DURING DISSOLUTION PERIOD- Dur= ing the 1-year period referred to in subsection (a), the Chairman o= f the Board of Governors of the Federal Reserve System-- (A) shall, for the sole purpose of winding up= the affairs of the Board of Governors of the Federal Reserve Sys= tem and the Federal reserve banks-- (i) manage the employees of the Board and eac= h such bank and provide for the payment of compensation a= nd benefits of any such employee which accrue before the pos= ition of such employee is abolished; and (ii) manage the assets and liabilities of the= Board and each such bank until such assets and liabilities a= re liquidated or assumed by the Secretary of the Treasury in a= ccordance with this subsection; and (B) may take such other action as may be nece= ssary, subject to the approval of the Secretary of the Treas= ury, to wind up the affairs of the Board and the Federal rese= rve banks. (2) LIQUIDATION OF ASSETS- (A) IN GENERAL- The Director of the Office of= Management and Budget shall liquidate all assets of the = Board and the Federal reserve banks in an orderly manner so= as to achieve as expeditious a liquidation as may be practi= cal while maximizing the return to the Treasury. (B) TRANSFER TO TREASURY- After satisfying al= l claims against the Board and any Federal reserve ban= k which are accepted by the Director of the Office of Man= agement and Budget and redeeming the stock of such banks,= the net proceeds of the liquidation under subparagrap= h (A) shall be transferred to the Secretary of the Treasury = and deposited in the General Fund of the Treasury. (3) ASSUMPTION OF LIABILITIES- All outstandin= g liabilities of the Board of Governors of the Federal Reserve= System and the Federal reserve banks at the time such en= tities are abolished, including any liability for retire= ment and other benefits for former officers and employees of= the Board or any such bank in accordance with employee ret= irement and benefit programs of the Board and any such ba= nk, shall become the liability of the Secretary of the = Treasury and shall be paid from amounts deposited in the general= fund pursuant to paragraph (2) which are hereby appropriate= d for such purpose until all such liabilities are satisf= ied. (d) REPORT- At the end of the 18-month period= beginning on the date of the enactment of this Act, the Se= cretary of the Treasury and the Director of the Office of Ma= nagement and Budget shall submit a joint report to the Con= gress containing a detailed description of the actions taken t= o implement this Act and any actions or issues relating to suc= h implementation that remain uncompleted or unresolved as of t= he date of the report. [END] TITLE(S): OFFICIAL TITLE AS INTRODUCED: A bill to abolish the Board of Governors of t= he Federal Reserve System and the Federal reserve banks,= to repeal the Federal Reserve Act, and for other purposes. STATUS: Floor Actions ***NONE*** STATUS: Detailed Legislative Status House Actions Mar 17, 99: Referred to the House Committee on Banking an= d Financial Services. STATUS: Congressional Record Page References ***NONE*** COMMITTEE(S): COMMITTEE(S) OF REFERRAL: House Banking and Financial Services AMENDMENT(S): ***NONE*** So far, so good... COSPONSOR(S): ***NONE*** Call your representative and ask h= im or her if God gave 'em any guts. SUMMARY: ***NONE*** CALL THESE PEOPLE. WRITE LOTS OF EMAIL AND CERTIFIED RETURN RECEIPT SNAIL MAIL. CALL THE= SE PEOPLE ON THE PHONE. DO NOT LET THIS BILL BE = TABLED IN COMMITTEE. Members of the Banking and Financial Services= Commitee: Republicans 1.James A. Leach, IA, Chairman 2.Bill McCollum, FL 3.Marge Roukema, NJ 4.Doug Bereuter, NE 5.Richard H. Baker, LA 6.Rick Lazio, NY 7.Spencer Bachus, AL 8.Michael N. Castle, DE 9.Peter T. King, NY 10.Tom Campbell, CA 11.Edward R. Royce, CA 12.Frank D. Lucas, OK 13.Jack Metcalf, WA 14.Robert W. Ney, OH 15.Bob Barr, GA 16.Sue W. Kelly, NY 17.Ron Paul, TX 18.Dave Weldon, FL 19.Jim Ryun, KS 20.Merrill Cook, UT 21.Bob Riley, AL 22.Rick Hill, MT 23.Steven C. LaTourette, OH 24.Donald A. Manzullo, IL 25.Walter B. Jones, NC 26.Paul Ryan, WI 27.Doug Ose, CA 28.John E. Sweeney, NY 29.Judy Biggert, IL 30.Lee Terry, NE 31.Mark Green, WI 32.Patrick J. Toomey, PA Democrats 1.John J. LaFalce, NY 2.Bruce F. Vento, MN 3.Barney Frank, MA 4.Paul E. Kanjorski, PA 5.Maxine Waters, CA 6.Carolyn B. Maloney, NY 7.Luis V. Gutierrez, IL 8.Nydia M. Vel=E1zquez, NY 9.Melvin L. Watt, NC 10.Gary L. Ackerman, NY 11.Ken Bentsen, TX 12.James H. Maloney, CT 13.Darlene Hooley, OR 14.Julia Carson, IN 15.Robert A. Weygand, RI 16.Brad Sherman, CA 17.Max Sandlin, TX 18.Gregory W. Meeks, NY 19.Barbara Lee, CA 20.Virgil H. Goode, Jr., VA 21.Frank Mascara, PA 22.Jay Inslee, WA 23.Janice D. Schakowsky, IL 24.Dennis Moore, KS 25.Charles A. Gonzalez, TX 26.Stephanie Tubbs Jones, OH 27.Michael E. Capuano, MA Independents 1.Bernard Sanders, VT Other bills sponsored by Ron Paul: 1. H.R.219: A bill to amend title II of the S= ocial Security Act to ensure the integrity of the Social Security t= rust funds by requiring the Managing Trustee to invest the = annual surplus of such trust funds in marketable interest-be= aring obligations of the United States and certificates of depo= sit in depository institutions insured by the Federal Deposit I= nsurance Corporation, and to protect such trust funds = from the public debt limit. Sponsor: Rep Paul, Ron . 2. H.R.220: A bill to amend title II of the S= ocial Security Act and the Internal Revenue Code of 1986 to prot= ect the integrity and confidentiality of Social Security accoun= t numbers issued under such title, to prohibit the establishme= nt in the Federal Government of any uniform national identifyin= g number, and to prohibit Federal agencies from imposing st= andards for identification of individuals on other agenci= es or persons. Sponsor: Rep Paul, Ron . 3. H.R.407: A bill to amend title 18, United = States Code, to provide for reciprocity in regard to the mann= er in which nonresidents of a State may carry certain con= cealed firearms in that State. Sponsor: Rep Paul, Ron . 4. H.R.516: A bill to prohibit the Secretary = of the Treasury and the Federal banking agencies from implementin= g "know your customer" regulations which overburden financ= ial institutions and invade the privacy of United States citiz= ens. Sponsor: Rep Paul, Ron . 5. H.R.517: A bill to amend title 31, United = States Code, to require the Financial Crimes Enforcement Netw= ork established by the Secretary of the Treasury = to allow an individual to obtain a copy of any record mai= ntained by the Network pertaining to such person and to have= corrections made to such records, and for other purposes.= Sponsor: Rep Paul, Ron . 6. H.R.518: A bill to sunset the provisions o= f subchapters II and III of chapter 53 of title 31, United States = Code, and chapter 2 of Public Law 91-508. Sponsor: Rep Paul, Ron . 7. H.R.571: A bill to prohibit Federal paymen= ts to any business, institution, or organization that e= ngages in human cloning or human cloning techniques. Sponsor:= Rep Paul, Ron . 8. H.R.647: A bill to prohibit the use of fun= ds appropriated to the Department of Defense from being used for= the deployment of United States Armed Forces in K= osovo unless that deployment is specifically authorized by= law. Sponsor: Rep Paul, Ron . 9. H.R.736: A bill to repeal the Davis-Bacon = Act and the Copeland Act. Sponsor: Rep Paul, Ron . 10. H.R.935: A bill to amend the Internal Rev= enue Code of 1986 to allow individuals a credit against in= come tax for tuition and related expenses for public and n= onpublic elementary and secondary education. Sponsor: = Rep Paul, Ron . 11. H.R.936: A bill to amend the Internal Rev= enue Code of 1986 to allow a credit against income tax for= amounts contributed to charitable organizations which= provide elementary or secondary school scholarships a= nd for contributions of, and for, instructional mate= rials and materials for extra curricular activities. Sponsor: Rep= Paul, Ron . 12. H.R.937: A bill to amend the Internal Rev= enue Code of 1986 to provide a tax credit for elementary a= nd secondary school teachers. Sponsor: Rep Paul, Ron . 13. H.R.1061: A bill to amend the Internal Re= venue Code of 1986 to provide that ministers may elect at a= ny time not to be covered by Social Security with respect to fu= ture services as a minister. Sponsor: Rep Paul, Ron . 14. H.R.1077: A bill to amend the Federal Foo= d, Drug, and Cosmetic Act to allow consumers greater acces= s to information regarding the health benefits of = foods and dietary supplements. Sponsor: Rep Paul, Ron . 15. H.R.1078: A bill to amend the Communicati= ons Act of 1934 with respect to retransmission consent and mu= st-carry for cable operators and satellite carriers. Spons= or: Rep Paul, Ron . 16. H.R.1146: A bill to end membership of the= United States in the United Nations. Sponsor: Rep Paul, Ron . 17. H.R.1147: A bill to sunset the Bretton Wo= ods Agreement Act. Sponsor: Rep Paul, Ron . 18. H.R.1148: A bill to abolish the Board of = Governors of the Federal Reserve System and the Federal reserv= e banks, to repeal the Federal Reserve Act, and for other= purposes. Sponsor: Rep Paul, Ron . 19. H.R.1179: A bill to restore the second am= endment rights of all Americans. Sponsor: Rep Paul, Ron . 20. H.R.1181: A bill to lift the trade embarg= o on Cuba, and for other purposes. Sponsor: Rep Paul, Ron.