Audit the Fed Passes House Oversight and Government Reform Committee
SPRINGFIELD, Virginia - Today, the House Oversight and Government Reform Committee passed Audit the Fed [H.R. 24], legislation that would require a full audit of the Federal Reserve, by voice vote. Campaign for Liberty Chairman Ron Paul released the following statement following the vote:
“I’m pleased to see the House OGR Committee act on this crucial and popular legislation,” said Campaign for Liberty Chairman Ron Paul.
“With nearly 75 percent of the American people supporting Federal Reserve transparency, I urge House leadership to swiftly bring Audit the Fed to the House floor for a vote before August recess.”
About Audit the Fed
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.”
Last Congress, Senator Rand Paul (R-KY) introduced companion legislation, S.202, which gained 37 cosponsors. Senate Majority Leader Harry Reid refused to allow Audit the Fed to be brought to the floor for a vote despite repeatedly calling for an audit of the Federal Reserve throughout his career.
Congressman Paul Broun (R-GA) reintroduced Dr. Paul’s Audit the Fed bill in January of 2013 as H.R 24, “The Federal Reserve Transparency Act of 2013,” in the 113th Congress. The bill currently has 224 cosponsors. Senator Rand Paul has again introduced companion legislation, S. 209, which currently has 30 cosponsors.