HR 1638

112th CONGRESS
1st Session

H. R. 1638

To stimulate the economy, provide for a sound United States dollar by defining a value for the dollar, to remove the authority of Federal Reserve banks to pay earnings on certain balances maintained at such banks, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

April 15, 2011

Mr. POE of Texas introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned


A BILL

To stimulate the economy, provide for a sound United States dollar by defining a value for the dollar, to remove the authority of Federal Reserve banks to pay earnings on certain balances maintained at such banks, and for other purposes.

SECTION 1. SHORT TITLE.

SEC. 2. FINDINGS.

SEC. 3. DIRECTIVES TO THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.

SEC. 4. TAX DEPRECIATION.

SEC. 5. DIRECTIVE TO THE CONGRESSIONAL BUDGET OFFICE.

SEC. 6. CONFLICT OF LAWS PROVISION.

SEC. 7. REMOVAL OF FEDERAL RESERVE BANK AUTHORITY TO PAY EARNINGS ON RESERVES.

END