in World News Rep. Thomas Massie, Sen. Mike Lee Introduce Bills to Audit and Abolish Federal Reserve
Rep. Thomas Massie (R-KY) and Senator Mike Lee (R-UT) have teamed up to reintroduce the “End the Fed” bill in the House and Senate to liquidate the Federal Reserve’s assets and transfer all money to the Treasury.
Additionally, Massie also introduced a bill to audit the Federal Reserve in the House.
Massie previously introduced the bills in 2024.
“The Federal Reserve Board Abolition Act was first introduced by former Representative Ron Paul (R-TX) in 1999 and hasn’t been reintroduced since 2013. In addition to introducing this legislation to “End the Fed,” Rep. Massie has also introduced H.R. 24, the Federal Reserve Transparency Act of 2025 to audit the Federal Reserve. H.R. 24 was originally introduced by former Representative Ron Paul (R-TX) in 2009,” according to a press release from Massie’s office.
The Act will abolish the Board of Governors of the Federal Reserve System and liquidate all assets to return to the taxpayer. It also repeals the Federal Reserve Act, the 1913 law that created the Federal Reserve, effective one year after the bill is signed into law.
Read the full bill here.
Rep. Massie said in a statement Wednesday, “Americans have suffered under crippling inflation, and the Federal Reserve is to blame.” He continued, “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 high inflation.”