AllGov - News - Ron Paul’s “Audit the Fed” Bill to be Debated in the House

Back to News

Ron Paul’s “Audit the Fed” Bill to be Debated in the House
Monday, June 15, 2009

Ron Paul

A plan to open up the Federal Reserve to congressional audits received enough support in the House of Representatives this week to guarantee that it will receive a full hearing by lawmakers. Congressman Ron Paul (R-TX) has been the driving force behind H.R. 1207, the Federal Reserve Transparency Act, which would give the Government Accountability Office (GAO) authority to examine the Fed’s books and report to Congress on the performance of the national bank. The bill now has 222 co-sponsors, most of whom are Republicans, but 52 of whom are Democrats, and it was a Democrat, Ohio Congressman Dennis Kucinich, who provided the 218th co-sponsorship for H.R. 1207 that allowed it to move out of committee and be debated on the House floor.

Supporters of Paul’s bill are hoping it does not get watered down like a similar measure introduced in the Senate. That plan (S. 896) would have given Congress greater oversight of the Federal Reserve. A small but powerful amendment, however, has reduced the scope of GAO audits on Fed records in the current version of S. 896.

-Noel Brinkerhoff

US House to Debate Ron Paul’s ‘Audit the Fed’ Bill (by Stephen Webster, Raw Story)

H.R. 1207: Federal Reserve Transparency Act of 2009 (GovTrack.us)

Handwritten Notes Show Fed Oversight Bill Neutered On Senate Floor (by Ryan Grim, Huffington Post)

Comments

AnAmerican - 6/15/2009 9:00:38 PM
That's correct, the senate companion bill to H.R. 1207 is S.604. Call your senator and ask them to cosponsor S. 604 S. 604 S. 604 S. 604 For America!

David - 6/15/2009 5:29:03 PM
The House and Senate bills (without amendment) which authorize an audit of the Federal Reserve Bank are desperately needed in order to shine a light on the actions of that institution. The Fed currently is only required to answer questions that it wishes to answer, which it turns out is none at all, for all practical purposes. They operate in almost complete secrecy because your representatives have lacked the character to change the laws that protect that secrecy. Therefore, now is the time for all our Congressman and Senators to honor their oath of office and exercise the Constitutional responsibility by voting to audit the Federal Reserve Bank. Any representative who does not vote for this legislation does not deserve your vote and financial support in any future election. Pay attention America, and remember who is on the side of liberty and open government, and those who are not.

Nathan - 6/15/2009 10:33:10 AM
Correction: The corresponding Senate bill is S.604 and it matches HR.1207 word-for-word.

Adam - 6/15/2009 9:19:13 AM
To am_patriot: I couldn't have said it better myself!

am_patriot - 6/15/2009 8:10:16 AM
HR 1207 is Change that we can believe in. No amendments, please. I am going to watch the debates closely. America and the world is about to see who in congress stands for American Liberty and the others who are part of the movement toward the ending the American Dream in favor of economic enslavement and tyranny. Oh yes! Expose this operation. See why your hard earned Federal Reserve Note continuously shrinks. Ron Paul calls it the inflation tax. Ask this Question: Why would the US Government choose to borrow from an International Banking Cartel, and pay interest, when the US Government has the Constitutional authority to create the Legal Tender without any interest? The IRS is the powerful collection agency for the International Banking Cartel to collect the interest on the money borrowed by the US Government. Just remember that it has been stated by some lawmakers that, "the bankers own the place" (referring to Congress).And lately we are introduced to the term, "Gangster Government". All soon to become common knowledge. Then comes H.R.2755 (Also authored by Ron Paul) Federal Reserve Board Abolition Act To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes. Finally we may see an end to the usury and Ponzi tactics of the International Banking Cartel and the FED's fiat monopoly money. "The inability of the Colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War." - Benjamen Franklin

Billy Kilford - 6/15/2009 7:52:23 AM
It's great to see this thing being born to what it is now. Thank you Ron Paul for holding the thieves of this country accountable for their ways! And i agree w/ FLo he should have been President...

Flo H - 6/15/2009 7:14:17 AM
About time! This is exactly why Paul should have been our PRESIDENT, acccountablility. He would have brought trust and accountability back to Washington DC. The Federal Reserve has printed enough phony money to make your children all slaves and Americans are paying attention.

Mike D. - 6/15/2009 6:57:59 AM
Thank goodness. We need to audit the Federal Reserve and get rid of their ability to arbitrarily set interest rates and debase the currency by printing more and more money. We need sound money! Let's all hope that this bill does NOT get watered down.