http://www.monetary.org/wp-content/uploads/2013/01/HR-2990.pdf

The above link is for the legislation put before the U.S. Congress in 2011 by Dennis Kucinich: the NEED Act (National Emergency Employment Defense Act). It is understandable, comprehensive monetary reform. The bill itself is only 12 pages and Kucinich's two page explanation is great.

The Three Necessary Reforms of the NEED Act
1. The U.S. Federal Reserve System is nationalized into the Treasury Dept.
2. Bank creation of money (fractional reserve lending) is decisively stopped.
3. New US Money, is created and spent into existence, debt-free, in non inflation/deflationary amounts, by our government for the needs of the nation and its people. Beginning with the infrastructure repairs called for by the American Society of Civil Engineers that now amount to $3.6 trillion by 2020. This would immediately create at minimum 10 million new, good-paying jobs.

The NEED Act has been vetted by Dr. Karou Yamaguchi as non inflationary and that includes paying off the national debt as it comes due. Kumhof and Benes, while not specifically vetting the NEED Act, did vet the Chicago Plan that the NEED Act was based on and said basically the same thing. It works.