On behalf of FreedomWorks’ activist community, I urge you to contact your representative and urge them to cosponsor the Federal Reserve Transparency Act, H.R. 24, if he or she hasn’t already done so. Introduced by Rep. Thomas Massie (R-Ky.), the Federal Reserve Transparency Act would require a full audit of the Federal Reserve by the Government Accountability Office.

On behalf of FreedomWorks’ activist community, I urge you to contact your representative and ask him or her to cosponsor the Federal Reserve Sunshine Act, H.R. 8007, introduced by Reps. Mark Green (R-T.N.) and Tulsi Gabbard (D-Hawaii). This bill would simply eliminate the provision of the recently-passed Coronavirus Aid, Relief, and Economic Security (CARES) Act that allows the Federal Reserve to hold closed-door meetings about its newly-created $450 billion bailout fund, which is more vital now than ever as we continue to observe the alarming lack of transparency that has come along with the Federal Reserve’s new authorities.

The coronavirus -- and the economic lockdowns that have been imposed on the country as a result -- has left very few unharmed in its wake. Despite an encouraging recent jobs report, millions remain out of work and require financial assistance from the government. As a result, Congress has spent trillions of dollars trying to assuage this situation.

The passage of Phase III of the COVID-19 stimulus package has reopened the floodgates of federal spending. The nearly $2 trillion package covers everything from essential immediate assistance for small businesses to a $50 billion bailout for the airline industry. All told, the package will more than double the deficit overnight, and the impact on the debt will be enormous. What’s worse is that many on Capitol Hill are already preparing for Phase IV.