▁for ▁, ▁introduced ▁H . R . ▁ 2 9 9 0 ▁to ▁the ▁ 1 1 2 th ▁Congress , ▁on ▁ 2 1 ▁September ▁ 2 0 1 1 . ▁K uc in ich ▁claimed ▁that ▁" H . R . ▁ 2 9 9 0 ▁enables ▁money ▁to ▁be ▁issued ▁by ▁sp ending ▁it ▁into ▁circul ation ▁on ▁programs ▁approved ▁by ▁Congress ▁— ▁without ▁tax ing ▁or ▁borrow ing ." ▁The ▁bill ▁was ▁co - sp ons ored ▁by ▁John ▁Con y ers ▁( D ), ▁ ▁representative ▁for ▁. ▁ ▁Tit les ▁The ▁legisl ation ' s ▁aim , ▁according ▁to ▁its ▁spons or , ▁was ▁ ▁To ▁create ▁a ▁full ▁employ ment ▁economy ▁as ▁a ▁matter ▁of ▁national ▁economic ▁defense ; ▁to ▁provide ▁for ▁public ▁invest ment ▁in ▁capital ▁infrastr ucture ; ▁to ▁provide ▁for ▁reducing ▁the ▁cost ▁of ▁public ▁invest ment ; ▁to ▁ret ire ▁public ▁deb t ; ▁to ▁stabil ize ▁the ▁Social ▁Security ▁ret irement ▁system ; ▁to ▁restore ▁the ▁authority ▁of ▁Congress ▁to ▁create ▁and ▁reg ulate ▁money , ▁modern ize ▁and ▁provide ▁stability ▁for ▁the ▁mon et ary ▁system ▁of ▁the ▁United ▁States ; ▁and ▁for ▁other ▁public ▁purposes . ▁ ▁Sum mary ▁According ▁to ▁the ▁Cong r essional ▁Research ▁Service , ▁a ▁non part isan ▁division ▁of ▁the ▁Library ▁of ▁Congress , ▁the ▁NE ED ▁Act , ▁in ▁brief , ▁would ▁replace ▁" F eder al ▁Reserve ▁notes " ▁with ▁" Un ited ▁States ▁M oney " ▁and ▁dis m ant le