Audit the Fed Bill Passes Committee

On Wednesday, the U.S. House Oversight and Government Reform Committee passed Congressman Ron Paul’s H.R. 459, the Federal Reserve Transparency Act, by a bipartisan voice vote. Republican leadership has promised a vote on the bill, more popularly known as “Audit the Fed,” on the House floor this July.

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 glad to see the Committee respond to hundreds of thousands of calls, petitions, and emails from our members calling for Congress to carry out its oversight responsibilities and pull back the veil of secrecy surrounding the Fed,” stated Matt Hawes, Vice President of Campaign for Liberty.

“As Americans continue to struggle with the fallout from a crash partially fueled by the Fed’s outrageous behavior, we deserve to know exactly what the Fed is doing with our money. C4L looks forward to the full House taking up Audit the Fed in late July, and we hope the spirit of bipartisanship will carry over into the Senate, as we anticipate finally passing this long overdue, common-sense legislation.”

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.