WHO WE ARE GET INVOLVED CANDIDATE SURVEYS C4L FOUNDATION ON THE ISSUES ABOUT AUDIT THE FED

Audit the Fed's chances of passing are better than ever

With a new Congress being sworn in next week, Audit the Fed's chances of passing both Chambers are better than ever. Note that since the last Congress ended without Senate Majority Leader Harry Reid allowing a vote on Audit the Fed in the Senate, Audit the Fed will have to pass both the House and Senate once the new Congress in sworn in.

C4L's Vice President of Policy, Norm Singleton, is quoted in an excellent article by The Washington Times, talking about how Audit the Fed will be a major issue for the new Senate.

Norm Singleton, vice president of policy at Campaign for Liberty, Ron Paul’s political organization, said that was striking because, in 2010, Mr. Reid had seemed to throw his support behind doing an audit.

 

Mr. Reid’s side suffered huge losses in November’s elections, with the GOP netting nine seats — enough for a 54-46 majority, delivering control over the floor schedule to Mr. McConnell and undercutting Mr. Reid’s power.

 

“His refusal to bring popular legislation like ‘Audit the Fed‘ to the floor is a major reason why he’s being demoted to minority leader,” said Mr. Singleton, who spent years as Mr. Paul’s legislative director in the House. “The change in Senate leadership does present us with the best opportunity yet to get a stand-alone vote on ‘Audit the Fed.’”

 

Still, he said they aren’t taking anything for granted, particularly after the report that Fed officials are quietly lobbying against more oversight.

 

“This is popular with 75 percent of the American people, but it’s not popular among Wall Street; it’s not popular among banks; it’s not popular among foreign central banks,” Mr. Singleton said. “These hold a fair amount of sway among both parties, so just to say that a change in party necessarily means we’ll be able to move Audit the Fed it’s better odds now than we’ve had before, but it’s not a slam dunk.”

 


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