Bill: Rejected The CRB Abolition Act

[Krix]

A

BILL

To



Abolish the Commonwealth Reserve Bank

​

The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:



1 - Short Title and Enactment

(1) This Act may be cited as the 'CRB Abolition Act.'

(2) This Act shall be enacted immediately upon its signage.

(3) This Act has been authored by: Representative Krix

(4) This Act has been co-sponsored by: Senator xLayzur


2 - Reasons

1. The Commonwealth Reserve Bank has only served as an organisation to foster corruption, mistrust in government and unaccountability over the people of Redmonts tax dollars, That is ending Today.​
2. The Commonwealth Reserve Bank has failed countless times throughout its history to effectively implement and oversee monetary policy on behalf of the Government of Redmont and its people.​
3. Senator xEndeavour’s creation of the Act caused all these problems and thus they are responsible for the problems we see today.​

3 - Rescission of the Commonwealth Reserve Act.

(1) The Commonwealth Reserve Act is hereby rescinded with immediate effect.

(2) The vested powers and responsibilities of the CRB are transferred to the DOC in the ESA.



4 - Power Redistribution

1. All Powers in the Commonwealth Reserve Act are hereby transferred to the DoC and is to be executed by the Department and their Secretary.​
2. A new section to be added to the Executive Standards Act under this newly transferred power “The Congressional Joint Economic Committee may vote to override any executions of this vested power, via a supermajority vote of all committee members.”​