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Representative Thomas Massie (R-KY) announces the introduction of H.R. 1846, the Federal Reserve Board Abolition Act. Rep. Massie's legislation abolishes the Board of Governors of the Federal Reserve and the Federal Reserve banks. It also repeals the Federal Reserve Act, the 1913 law that created the Federal Reserve System. Senator Mike Lee (R-UT) leads the companion bill in the United States Senate, S. 869.
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