Gold Standard Restoration Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 30, 2023)
Gold Standard Restoration Act
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.
What just happenedMar 30, 2023
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseMar 30, 2023
- Mar 30, 2023IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Mar 30, 2023IntroReferralIntro-H
Introduced in House
- Mar 30, 2023IntroReferral1000
Introduced in House