As expected, the House overwhelmingly passed legislation (H.R. 24) to audit the Federal Reserve with a vote of 333-92. This goes to show that bringing transparency to the central bank is a bipartisan issue that transcends party lines. FreedomWorks will be scoring this important vote in our congressional scorecard to hold legislators accountable.
Thank you to all the activists who called their representative and urged them to vote yes!
Now, Audit the Fed moves on to the Senate. Senator Rand Paul (R-Kentucky) has introduced identical Fed transparency legislation (S.209) that has 30 cosponsors. Unfortunately, there are no signs that Senate Majority Leader Harry Reid will bring it to a vote.
We were in the same boat two years ago.
Rep. Ron Paul’s Audit the Fed bill overwhelmingly passed the House but Reid refused to bring the popular bill to a vote. This is strange since Reid vocally supported an audit in the 1990’s, yet he’s now the one blocking it from happening.
Don’t believe me? Watch this from 1995:
Instead, Harry Reid is complaining that Republicans are saying no to (bad) bills that he’s tried to pass. Alright, then how about finally putting Audit the Fed to a vote? Both Republicans and Democrats should be able to support bringing accountability to the Federal Reserve.
After all, in Reid’s own words, "There is no entity in the world that controls our lives more than the Federal Reserve System.” Surely, that means the American people deserve to know what’s happening behind closed doors at the powerful institution.
It’s time for the Senate to finally vote on Audit the Fed. Harry Reid must stop blocking a vote on such a crucial matter that the majority of Americans support.