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IL HR0065
Resolution
Status
4/2/2019
Primary Sponsor
Allen Skillicorn
Click for details
AI Summary
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Illinois House of Representatives urges U.S. Congress and President Donald Trump to pass the Federal Reserve Transparency Act of 2019
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Federal Reserve maintains nearly $1.6 trillion in circulation and ordered approximately 7.4 billion Federal Reserve notes valued at more than $233 billion in fiscal year 2018
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Federal Reserve policies can cost U.S. citizens trillions of dollars through artificially low interest rates and investments that result in housing, market, and employment declines
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Current law does not allow Congress to audit Federal Reserve monetary policies, and the Dodd-Frank Act of 2010 only applied to emergency credit facilities rather than substantive transaction details
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Resolution directs delivery of copies to President Trump, congressional leadership, and all members of the Illinois Congressional Delegation
Legislative Description
FED RESERVE TRANSPARENCY ACT
Last Action
Resolution Adopted 099-002-001
4/2/2019