Text: H.R.492 — 113th Congress (2013-2014)All Bill Information (Except Text)

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Introduced in House (02/04/2013)


113th CONGRESS
1st Session
H. R. 492


To amend the Federal Reserve Act to remove the mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to focus on maximum employment.


IN THE HOUSE OF REPRESENTATIVES

February 4, 2013

Mr. Stutzman (for himself, Mr. Mulvaney, Mr. McClintock, Mr. Westmoreland, Mr. Thornberry, Mr. Nugent, Mr. Woodall, Mr. Pearce, and Mr. Young of Indiana) introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To amend the Federal Reserve Act to remove the mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to focus on maximum employment.

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

SECTION 1. Short title.

This Act may be cited as the “Focusing the Fed on the Currency of the United States Act of 2013” or the “FFOCUS Act of 2013”.

SEC. 2. Removal of dual mandate.

Section 2A of the Federal Reserve Act (12 U.S.C. 225a) is amended by striking “maximum employment, stable prices,” and inserting “stable prices”.