Sen. Mike Lee (R-UT) has proposed legislation to abolish the Federal Reserve.

“Senator Mike Lee (R-UT) introduced the Federal Reserve Board Abolition Act, legislation that would dissolve the Board of Governors of the Federal Reserve System and the Federal Reserve banks and repeal the 1913 Federal Reserve Act, which established the System,” Lee’s office said in a press release.

“Representative Thomas Massie (R-KY) leads the companion bill in the House of Representatives,” the release continued.

“I’ve introduced legislation to End the Fed,” Lee said.


“The Federal Reserve has overstepped and repeatedly failed to achieve its mandate and become an economic manipulator that has directly contributed to the financial instability many Americans face today,” Lee said.

“This legislation aims to protect our economic future by dismantling a system that enables unchecked government spending, the monetization of federal debt that fuels it, and widespread economic disruption. It’s time to end the Fed,” he added.

“Americans are suffering under crippling inflation, and the Federal Reserve is to blame,” Rep. Thomas Massie (R-KY) said.

“During COVID, the Federal Reserve created trillions of dollars out of thin air and loaned it to the Treasury Department to enable unprecedented deficit spending. By monetizing the debt, the Federal Reserve devalued the dollar and enabled free money policies that caused the high inflation we see today,” he added.

Read the complete bill:

Read more about the Federal Reserve HERE.

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