C4L’s Press Release on Audit the Fed
C4L issued the following press release after Audit the Fed passed the House yesterday.
"Audit the Fed" Bill Passes U.S. House
Historic Legislation Moves on to the Senate
SPRINGFIELD, Va., Jul 25, 2012 (BUSINESS WIRE) — On Wednesday, the U.S. House passed Congressman Ron Paul's H.R. 459, the Federal Reserve Transparency Act, by a bipartisan vote of 327-98. The bill passed under suspension of the rules, reaching a two-thirds majority and demonstrating the strength of congressional support for transparency at the Federal Reserve.
Audit the Fed would require the Government Accountability Office (GAO) to conduct the first thorough audit of the Federal Reserve in the central bank's nearly 100-year history. A Rasmussen poll conducted in late 2010 showed almost 80% of the American people supported requiring such transparency from the Fed.
"Campaign for Liberty is excited to see the U.S. House respond to the countless calls, emails, and petitions from our members urging their representatives to take action and hold the Fed accountable for its reckless policies. Today's victory has been a long time coming," stated Matt Hawes, Vice President of Campaign for Liberty.
"Now the U.S. Senate must decide if it will stand with the American people in demanding common-sense transparency from what has been one of Washington's most secretive institutions, or if it will allow the Fed to continue withholding the full story on what it is doing with our money. C4L will keep rallying Americans across the country, and we hope their senators will respond with another bipartisan show of support for the Audit the Fed bill."
Founded in 2008, Campaign for Liberty now includes over half a million members nationwide. Audit the Fed has long been C4L's top legislative priority, and the grassroots mobilization effort to advance the legislation has rallied grassroots Americans and enabled the organization's rapid growth.