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.”
Sen. Mike Lee added, “The Federal Reserve has not only failed to achieve its mandate, it has become an economic manipulator, directly contributing to the financial instability many Americans face today.”
“We need to protect our economic future, end the monetization of federal debt that fuels unchecked federal spending, and put American money on solid ground. We need to End the Fed,” said Lee.
This comes as President Trump announced he intends to personally inspect the United States gold reserves housed at Fort Knox to see whether the 4,580 tons of U.S. gold supposedly stored in Fort Knox still exist or if bureaucrats and the Federal Reserve have been engaging in financial sleight-of-hand behind closed doors.
Fed Chair Jerome Powell and others at the Federal Reserve and their cohorts in the Democrat Party have led America into its current inflation nightmare. As The Gateway Pundit previously reported, a Federal Reserve official revealed to an undercover journalist that Federal Reserve Chair Jerome Powell had actively worked to sabotage Trump during his first term.
Massie announced his new bill on X:
I just reintroduced “End the Fed.”
Title: Federal Reserve Board Abolition Act, HR 1846.
Americans would be better off if the Federal Reserve did not exist. The Fed devalues our currency by monetizing the debt, causing inflation.
I just reintroduced “End the Fed.”
Title: Federal Reserve Board Abolition Act, HR 1846.
Americans would be better off if the Federal Reserve did not exist. The Fed devalues our currency by monetizing the debt, causing inflation. pic.twitter.com/0U2NkbBZsX
— Thomas Massie (@RepThomasMassie) March 5, 2025
Senator Mike Lee (R-UT) also announced that he is already working on the bill in the Senate, saying he’s “Feeling dangerous.”
Feeling dangerous…
I think I’ll take a page from @RonPaul and get together with my friend @RepThomasMassie to END THE FED. pic.twitter.com/xHB1KrhSci
— Mike Lee (@SenMikeLee) March 5, 2025
This is a developing story.
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