Constitutional Monetary Restoration and Transparency Act

Economy
1

This proposal is for President Trump, as he intends to Make America Wealthy Again and Restore Financial Prosperity. This is to Repeal the Federal Reserve Act, Eliminate the Federal Income Tax, Abolish the IRS, Ensure Sound Money, Re-Enact Executive Order 11110, Implement a National Sales Tax with Exemptions for Essential Goods and Services, Provide Citizen Oversight, and Ensure Transparency Across All Levels of Government.

Section 1: Title
This Act shall be cited as the “The Constitutional Monetary Restoration and Transparency Act”

Section 2: Repeal of the Federal Reserve Act

  1. The Federal Reserve Act of 1913, and all amendments thereof are hereby repealed in their entirety. The Federal Reserve shall be abolished, and all powers shall abolished due to its illegal and unconstitutional activity. All responsibilities and assets shall be transferred to the Treasury Department.
  2. The Treasury Department shall assume full responsibility for the issuance and management of the US Dollar. All currency issued by Treasury Department shall be backed by tangible assets, such as gold, silver, or other precious metals, ensuring soundness and stability.

Section 3: Elimination of the Federal Income Tax and Repeal of the 16th Amendment

  1. The Internal Revenue Code of 1986, and all amendments thereto are hereby repealed in their entirety due to their illegal and unconstitutional activity. The government shall no longer levy or collect an income tax on individuals, businesses, or any entity engaged in economic activity within the United States.
  2. The 16th Amendment to the United States Constitution, illegally ratified in 1913, is hereby repealed. Congress shall propose and the States shall ratify the following constitutional amendment:
  • The Congress shall have no power to levy a tax on the income, earnings, or wages of individuals or corporations.
  • The Congress shall have no power to regulate or tax the fruits of labor or the exchange of labor.

Section 4: Abolishment of the Internal Revenue Service (IRS)

  1. The Internal Revenue Service (IRS) is hereby abolished due to its illegal and unconstitutional activity. All authority, duties, and responsibilities currently held by the IRS shall be transferred to the Treasury Department. The Treasury Department shall assume responsibility for the collection of any new taxes levied under the provisions of this Act, including the national sales tax. The Treasury Department shall develop an efficient, and transparent system for tax collection that ensures no undue burden on American taxpayers.

Section 5: Re-Enactment of Executive Order 11110

  1. Executive Order 11110, issued by the-late President John F. Kennedy in 1963, is re-enacted. This order shall restore the Treasury Department’s authority to issue currency certificates backed by precious metals, such as silver and gold.
  2. The Treasury Department shall issue all new currency backed by tangible assets, including gold, silver, and other precious metals. The Treasury shall maintain reserves to back the full value of the currency in circulation.
  3. Gold and silver shall be restored as legal tender in the United States. Citizens shall have the right to exchange currency for physical gold and silver at rates set by the Treasury Department.

Section 6: Implementation of a National Sales Tax

  1. A national sales tax shall be levied on all imported goods, except those deemed essential for basic living and functioning.
  2. The following goods and services shall be exempt from the national sales tax:
  • Housing: All forms of housing, including both purchased and rented properties, as well as utilities.
  • Food: All food items, including groceries, essential dietary items, and beverages.
  • Medicine: Prescription drugs, over-the-counter medications, and medical devices.
  • Healthcare: All healthcare services, including medical visits, surgeries, hospital care, and health insurance premiums.
  • Transportation: All transportation costs, including automobiles, public transit, and air travel.
  • Energy: All energy and utility costs, such as water, electricity, heating, and telecommunications.
  • Education: Primary, secondary, and post-secondary education, including tuition, textbooks, and educational supplies.
  • Other Essentials: Necessary services and goods for basic human needs, including childcare, eldercare, etc.
  1. Exemption for Labor: No national sales tax shall be imposed on an American’s labor or the compensation for work. The tax system shall not impose any financial burden on the fruits of an Americans’ hard-earned labor.

Section 7: Citizen Oversight and Transparency:

  1. A nationwide free, digital citizen oversight portal shall be established, providing all Americans with unrestricted access to real-time data about government actions in the financial space, including decisions and financial transactions at the local, state, and federal levels. This platform shall be free of charge and publicly available to all American citizens.
  2. The Citizen Oversight Platform (COP) shall allow citizens to monitor the following:
  • Government Spending: Including federal, state, and local budget reports, and the allocation of tax revenue.
  • Monetary Policy: The issuance and management of currency by the Treasury Department, as well as any changes in national monetary policy.
  • Sales Tax Collection: Real-time data on the collection and allocation of the national sales tax.
  • Public Engagement: A platform for Americans to submit questions, concerns, and suggestions regarding the policy of their respective government , with responses provided to relevant authorities, then related to the intended recipient.
  1. Congressional Oversight of the Treasury:
    The Congress shall conduct regular oversight of the Treasury Department’s actions, including the issuance of currency, management of assets, and the collection and expenditure of taxes. Congress shall publish semi-annual reports detailing Treasury activities and ensuring they align with the principles of The Constitution.
  2. Presidential and Public Reporting:
    The Treasury Department and Congress shall jointly report their findings and actions to the President and the American people, at least twice annually. These reports shall include details of financial activities, economic performance, and any necessary policy adjustments.

Section 8: Effective Date:
This Act shall take effect once signed into law by the President. The Treasury Department, in cooperation with Congress, shall ensure the successful transition to a new monetary system and tax structure before the effective date. This includes the establishment of the Citizen Oversight Platform and the national sales tax system.

Section 9: Severability
If any part of this Act, or the application of such provision to any person or circumstance, is found to be invalid or unconstitutional, the remainder of this Act shall remain in effect.

Section 10: Conclusion
This Act aims to restore sound monetary principles, eliminate the unconstitutional finance policy of the past, and provide Americans with complete oversight of their government. By repealing the Federal Reserve Act, abolishing the IRS, re-enacting Executive Order 11110, and implementing a fair national sales tax, this law will return power back to the American people once again, and ensure financial transparency and accountability at every level of their respective government. Through continuous citizen oversight and transparent reporting, we will safeguard the nation’s fiscal health and the financial prosperity of the American people that we were elected serve.