Campaign for Liberty, an organization founded by Ron Paul, sent out a press release Wednesday announcing that the H.R. 24 bill, “Audit the Fed,” passed by a vote of 333-92, the first time that’s happened since former Congressman Paul introduced the original bill in 2012.
“I am pleased to see the House of Representatives once again pass this historic legislation,” Ron Paul said in the release. “The support ‘Audit the Fed’ has received over the past few years has been tremendous. I urge Senate Majority Leader Harry Reid to listen to the American people and hold a vote on ‘Audit the Fed’ right away.”
Here’s some background information on “Audit the Fed”:
Ron Paul’s ‘Audit the Fed’ bill, H.R. 459, gained 274 cosponsors and passed the House of Representatives in the 112th Congress on July 25, 2012, by an overwhelming three-fourths majority of 327-98 after a nationwide grassroots mobilization effort led by Campaign for Liberty. The legislation calls for a “full audit of the Board of Governors of the Federal Reserve System and the Federal Reserve banks by the Comptroller General of the United States.”
Last Congress, Senator Rand Paul (R-KY) introduced companion legislation, S.202, which gained 37 cosponsors. Senate Majority Leader Harry Reid refused to allow Audit the Fed to be brought to the floor for a vote despite repeatedly calling for an audit of the Federal Reserve throughout his career.
Congressman Paul Broun (R-GA) reintroduced Dr. Paul’s Audit the Fed bill in January 2013 as H.R 24, “The Federal Reserve Transparency Act of 2013,” in the 113th Congress. The bill, which was cosponsored by 224 Representatives, passed the House of Representatives on September 17, 2014, by a vote of 333-92. Senator Rand Paul has again introduced companion legislation, S. 209, which currently has 30 cosponsors.
Notably, all but one of the “nays” came from Democrats.
