Conservative Action Project
The Conservative Action Project, chaired by former Attorney General
Edwin Meese and former Congressman David McIntosh, is designed to
facilitate conservative leaders working together on behalf of common
goals. Participants include the CEO's of over 100 organizations
representing all major elements of the conservative movement-economic,
social and national security.
To Grow the Economy, Get Monetary Policy Right
Current Event:
Among
the critical agenda items that the Conservative Action Project has
identified for the 113th Congress is a call to "establish a national
monetary commission to review the likely outcomes of principled monetary
policy prescriptions." This directly tracks a plank in the 2102 GOP
Platform, calling for a "commission to investigate possible ways to set a
fixed value for the dollar." The Constitution, in Article I Section 8,
gives the power exclusively to the Congress to "coin money, (and)
regulate the value thereof."
Action:
- Congress should pass legislation to create a monetary commission to examine how our monetary policy effects economic growth
- Conservative leaders and organizations should support monetary policy reform that is consistent with free-market, limited-government, constitutional principles
Issue in Brief:
A
century after the creation of the Federal Reserve, and decades after
Congress gave the Fed their "dual mandate" for both price stability and
full employment, many policy makers have rightly called for a
re-examination of our monetary policy. Especially in light of the
extraordinary actions of the Federal Reserve during the financial crisis
since 2008, there is strong need for such a review.
On
March 14th, Rep. Kevin Brady (R-TX), chairman of the Congressional
Joint Economic Committee, together with 12 original co-sponsors,
introduced legislation, which calls for establishing a commission to
"examine how United States monetary policy since creation of the Federal
Reserve has affected the performance of the U.S. economy in terms of
output, employment, prices, and financial stability over time."
Such
a commission would provide an invaluable opportunity to examine the
role that monetary policy under Presidents Bush and Obama has played and
continues to play in historically low economic growth and historically
high unemployment, as well as in in Washington's failure to facilitate
an economic climate in which abundant money is available at affordable
rates to working and middle class families with good credit. As
demonstrated by President Reagan, good monetary policy is as crucial to
economic growth as is good tax, spending, trade, energy, and regulatory
policy.
Signed:
The Honorable Edwin Meese III
Former Attorney General
President Ronald Reagan
The Honorable David McIntosh
Former Member of Congress
Indiana
Chris Chocola
President
Club for Growth
Grover Norquist
President
Americans for Tax Reform
L. Brent Bozell III
Chairman
ForAmerica
Tony Perkins
President
Family Research Council
Colin Hanna
President
Let Freedom Ring
Al Cardenas
Chairman
American Conservative Union
Ralph Benko
President
Center for Civic Virtue
Jenny Beth Martin
Co-Founder
Tea Party Patriots
Amy Kremer
Chairman
Tea Party Express
Bob Reccord
Executive Director
Council for National Policy
The Honorable J. Kenneth Blackwell
President
Constitutional Congress, Inc.
The Honorable T. Kenneth Cribb, Jr.
Former Domestic Advisor
President Ronald Reagan
The Honorable Alfred S. Regnery
Former Publisher
The American Spectator
The Honorable Becky Norton Dunlop
Former White House Advisor
President Ronald Reagan
Bill Walton
Chairman
Rush River LLC
Ron Robinson
President
Young America's Foundation
Gary Bauer
President
American Values
Phil Kerpen
President
American Commitment
Eli Lehrer
President
R Street Institute
Jim Martin
Chairman
60 Plus Association
Jim Ryun
Chairman
The Madison Project
Myron Ebell
President
Freedom Action
Chris Littleton
President
Ohio Rising
Mallory Factor
President
Mallory Factor, Inc.
Peter Thomas
Chairman
The Conservative Caucus, Inc.
Susan Carleson
President
American Civil Rights Union
Lew Uhler
President
National Tax Limitation Committee
Peter Ferrara
Senior Fellow
National Center for Policy Analysis
C. Preston Noell
President
Tradition, Family, Property, Inc.
Mario Lopez
President
Hispanic Leadership Fund
Tom Donelson
Chairman
Americas PAC
Andy Blom
Senior Strategist
Center for Civic Virtue
The Honorable Jim Miller
Former OMB Director
President Ronald Reagan
Chris Malagisi
President
Young Conservatives Coaltion
Chuck Cooper
Cooper & Kirk, PLLC
Gene Mills
President
Louisiana Family Forum
Lee Beaman
Businessman
Nashville, TN
Robert Fischer
President
Fischer Furniture, Inc.
Dan Oliver
Connie Marschner
(All organizations listed for Identification purposes only)
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