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HR 2768 IHCommentsClose CommentsPermalink

112th CONGRESSCommentsClose CommentsPermalink

1st SessionCommentsClose CommentsPermalink

H. R. 2768CommentsClose CommentsPermalink

To cancel public debt held by the Federal Reserve System and to lower the public debt limit by an equal amount.CommentsClose CommentsPermalink

IN THE HOUSE OF REPRESENTATIVESCommentsClose CommentsPermalink

August 1, 2011CommentsClose CommentsPermalink

Mr. PAUL introduced the following bill; which was referred to the Committee on Ways and MeansCommentsClose CommentsPermalink

A BILLCommentsClose CommentsPermalink

To cancel public debt held by the Federal Reserve System and to lower the public debt limit by an equal amount.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘Debt Crisis Resolution Act of 2011’.CommentsClose CommentsPermalink

SEC. 2. CANCELLATION OF PUBLIC DEBT HELD BY THE FEDERAL RESERVE SYSTEM.

(a) Canceling of Debt- The Secretary of the Treasury shall cancel all obligations of the United States Government issued under chapter 31 of title 31, United States Code, that are held by the Federal Reserve System.CommentsClose CommentsPermalink