118th Congress Finance and Financial Sector
H.R. 2435: Gold Standard Restoration Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill requires the Department of the Treasury to define the Federal Reserve note dollar in terms of a fixed weight of gold, based on that day's closing market price of gold. Federal Reserve Banks must exchange Federal Reserve notes with gold at this price and create processes to facilitate exchanges between banks and the public. If a Federal Reserve Bank does not do this, Treasury must make any exchange and place a corresponding lien on the assets of that bank.
In addition, Treasury and the Board of Governors of the Federal Reserve must report on U.S. gold holdings.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Andy Biggs R-AZOriginal
- Paul Gosar R-AZOriginal
- Anna Luna R-FL
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Other bills by Alexander Mooney
History
- Introduced in the House by Alexander Mooney.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.