HR 2435
118th Congress
House
Finance and Financial Sector
Gold Standard Restoration Act
Introduced: March 30, 2023
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 30, 2023
Referred to the House Committee on Financial Services.
Mar 30, 2023
Introduced in House
Plain-English summary
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's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1