Advance rule-based money (K-percent/NGDP/Taylor) or free banking; appoint reform commission
Mandate offers a reform menu from free banking/abolishing the Fed’s monetary role, to commodity money, to K-percent, NGDP, or Taylor rules, and urges a commission on Fed mission, alternatives, and financial regulation—preferring rules that remove discretionary steering.
Mandate
Mandate Ch. 24 (Federal Reserve) — Monetary Rule Reform Options: menu including free banking (Fed effectively abolished), commodity-backed money, K-Percent Rule, NGDP targeting, Taylor Rule; appoint a commission to explore Fed mission, alternatives to the Federal Reserve system, and the nation’s financial regulatory apparatus.
Undo plan
1) Treat radical free-banking/gold proposals as study topics only after transition risk analysis.
2) If adopting a rule, legislate escape clauses for genuine financial crises.
3) Commission membership must be bipartisan with published dissenting views.
4) Preserve payments and fiscal-agent functions during any redesign.
5) Verify: commission report with quantified transition costs before statutory upheaval.