What is Audit the Fed?
We have compiled some handy information to help you understand this complicated and often, misrepresented topic:
About Audit the Fed Legislation
Legislation to Audit the Federal Reserve is supported by nearly 75 percent of the American people.
Congressman Thomas Massie (R-KY) introduced “Audit the Fed” H.R.24 in the 114th Congress on January 6th, 2015.
Ron Paul’s “Audit the Fed” bill, H.R. 459, gained 274 cosponsors and passed the House of Representatives in the 112th Congress on July 25, 2012, by an overwhelming three-fourths majority of 327-98 after a nationwide grassroots mobilization effort led by Campaign for Liberty. The legislation calls for a “full audit of the Board of Governors of the Federal Reserve System and the Federal Reserve banks by the Comptroller General of the United States.”
Congressman Paul Broun (R-GA) reintroduced Dr. Paul’s Audit the Fed bill in January 2013 as H.R 24, “The Federal Reserve Transparency Act of 2013,” in the 113th Congress. The bill, which was cosponsored by 224 Representatives, passed the House of Representatives on September 17, 2014, by a vote of 333-92.
Senator Rand Paul (R-KY) introduced companion legislation in both the 112th and 113th Congresses, which gained 37 and 32 cosponsors, respectively. Then-Senate Majority Leader Harry Reid refused to allow Audit the Fed to be brought to the floor in either Congress for a vote despite repeatedly calling for an audit of the Federal Reserve throughout his career.
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