Portman Joins Rand Paul and Bipartisan Group in Proposing an Audit of the Federal Reserve

Check out the press release from Ohio Senator Rob Portman announcing his support of Audit the Fed!

Washington, D.C. – Today, U.S. Senator Rob Portman (R-Ohio) joined U.S. Senator Rand Paul (R- Ky.) and 29 cosponsors in introducing the bipartisan Federal Reserve Transparency Act of 2015. Known widely as “Audit the Fed,” the bill calls to eliminate restrictions on Government Accountability Office (GAO) audits of the Federal Reserve and mandate that the Federal Reserve’s credit facilities, securities purchases, and quantitative easing activities would be subject to Congressional oversight.

“For far too long, the Federal Reserve has been exempt from transparency, a key part of our democracy, while taking extraordinary actions during the financial crisis that raised legitimate concerns,” Portman stated. “While the Federal Reserve’s independence is critical, I believe an audit of the Fed is overdue.”

The Federal Reserve Transparency Act of 2015 can be found here.