On behalf of FreedomWorks’ activist community, I urge you to contact your senators and urge them to cosponsor the Federal Reserve Transparency Act, S. 16, introduced by Sen. Rand Paul (R-Ky.). This important piece of legislation would require a full audit of the Federal Reserve by the Government Accountability Office. FreedomWorks has already released a letter of support for the House version of the Federal Reserve Transparency Act, H.R. 24, introduced by Rep. Thomas Massie (R-Ky.).

FreedomWorks has chosen H.R. 24, the Federal Reserve Transparency Act of 2015, introduced by Rep. Thomas Massie (R-Ky.), as the bill of the month for November 2016. More commonly known as Audit the Fed, this legislation would force an audit of the Federal Reserve System (the Fed). For years, the activities of the Fed have been shrouded in secrecy, even though it has extensive powers. The Audit the Fed bill would help get the American taxpayers some answers about how the entity conducts its business.

On Tuesday, Sen. Rand Paul will finally secure a Senate vote on his perennially authored bill to audit the Federal Reserve Bank of the United States. This is a bill that has been offered by Paul, and by his father Ron Paul before him, every year since 2009, but this will be the first time the Senate has actually voted on it.

The business world is all abuzz with rumors and guesses about what the Federal Reserve may or may not do in the next couple of months. The Fed has given indications that it plans to raise interest rates in the near future, but after markets experienced significant turbulence, many investors are now betting that the Bank will hold off and keep interest rates low through the end of the year.

Senator Bob Corker (R-Tenn.) could be one of the biggest obstacles to passing audit the Fed in the Senate. As a member of the Senate Committee on Banking, Housing, and Urban Affairs, Senator Corker has been an outspoken opponent of the Federal Reserve Transparency Act.