Nearly two dozen U.S House members from both sides of the aisle sent a letter to House Majority Whip, Rep. Kevin McCarthy, urging him to take immediate action on the Federal Reserve Transparency Act upon assuming his new leadership role as House Majority Leader.
H.R. 24, introduced by U.S. Rep. Paul Broun, R-Ga., in the 113th Congress, is identical to former Rep. Ron Paul’s Audit the Fed bill which passed in the House by a margin of 327-98 in the 112th Congress. H.R. 24 currently has 228 cosponsors to the bill, representing a strong bipartisan majority in the House.
“Last Congress, my good friend former Rep. Ron Paul, made incredible strides towards enacting legislation to require a full audit of the Federal Reserve and Federal Reserve banks,” Broun said in a statement. “His Audit the Fed bill passed in the House with overwhelming bipartisan support, taking an important step towards providing real transparency regarding the nation’s monetary policy to the American people. In the 113th Congress, I’ve been honored to carry Dr. Paul’s torch and continue to advocate for a full audit of the Federal Reserve, which remains as closely-guarded as ever.
“A strong bipartisan majority of the House have shown their support of a full Audit of the Fed, and according to recent polls, 74 percent of Americans favor a public audit of the Federal Reserve as well. It’s clear where Congress and the American people stand on the issue — and it is time that H.R. 24 be brought to the House floor for a vote, so that we can work to ensure the Fed is held to the same reporting standards as the rest of the federal government,” Broun added. “As Rep. McCarthy begins his new tenure as the House Majority Leader, I urge him to give H.R. 24 the priority it deserves – this bill is a bipartisan common-sense win for government transparency and accountability.”