Rand Paul Introduces A New ‘Audit The Fed’ Bill

Posted by Orb Staff on February 06, 2013 No Comments
Categories : Residential Mortgage

13248_rand_paul Rand Paul Introduces A New 'Audit The Fed' Bill Ron Paul may have left Capitol Hill, but his crusade to secure legislation to require audits of the Federal Reserve is being kept alive by his son, Sen. Rand Paul, R-Ky.

Paul has introduced the Federal Reserve Transparency Act of 2013, also known as the ‘Audit the Fed’ bill. The proposed legislation calls for eliminating restrictions on Government Accountability Office audits of the Federal Reserve and mandating that the Fed's credit facilities, securities purchases, and quantitative easing activities be subject to Congressional oversight.

‘The Fed's operations under a cloak of secrecy have gone on too long and the American people have a right to know what the Federal Reserve is doing with our nation's money supply,’ Paul says. ‘Audit the Fed has significant bipartisan support in Congress and across the country and the time to act on this is now.’

Paul's bill currently has 19 bipartisan co-sponsors in the Senate. A companion legislation was introduced last month in the House of Representatives, and that bill currently has over 100 co-sponsors.

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