What exactly is the selective service repeal act of 2021?

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I was reading articles about conscription and came across something called the selective service repeal act of 2021, I read a bit about it and it seems like it aimed to abolish the act but I’m not sure if its been implemented in actual law or what it’s really about.

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https://www.congress.gov/bill/117th-congress/senate-bill/1139/all-info

The bill was introduced, referred to the Committee on Armed Services, and no further action was taken. This is a common fate for bills, known as “dead in committee”.

Basically the bill is dead by virtue of “they’ve decided to never get around to looking at it”.