Rand Paul Reintroduces Audit the Fed to Bypass Committee

SPRINGFIELD, Virginia– Yesterday, Senator Rand Paul (R-KY) reintroduced S. 2232, Ron Paul’s Audit the Fed bill, which 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.”

Senator Paul introduced the legislation using a procedural maneuver allowing the bill to escape the Senate Banking Committee’s stranglehold on Audit the Fed, placed there by an unholy alliance of Fed apologists like Senators Elizabeth Warren (D-MA) and Bob Corker (R-TN).

S. 2232 is identical to the legislation Senator Paul introduced in the 112th and 113th Congresses and has 21 cosponsors.

“With the American people firmly on our side on Federal Reserve transparency, and momentum shifting our way in recent Congresses, the Federal Reserve will not be able to continue operating in secrecy from the people’s representatives much longer,” said Campaign for Liberty Chairman Dr. Ron Paul.  

“The American people should be asking why we have ceded control of our economy and our prosperity to a small group of unelected people who do not have the average American’s best interest at heart. Once again, Rand is leading the way in the U.S. Senate by continuing the push for Audit the Fed, and I urge his colleagues in the Senate to support the will of the American people by passing this important legislation.”

“Campaign for Liberty is proud to work with Senator Paul as C4L continues its fight to lift the veil of secrecy at the Federal Reserve,” said C4L Senior Vice President Norm Singleton.

“With nearly 75 percent of the American people in support of Federal Reserve transparency, it is way past time for Audit the Fed to have the standalone Senate vote it deserves. Campaign for Liberty will continue to apply pressure to members of both parties and urge them to stand with the American people by passing Audit the Fed.”

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About Audit the Fed

Legislation to audit the Federal Reserve is supported by nearly 75 percent of the American people.

Congressman Thomas Massie (R-KY) introduced “Audit the Fed” in the 114th Congress on January 6th, 2015. The bill currently has 185 bipartisan cosponsors.

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 called 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.”

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 (R-KY) introduced companion legislation in both the 112th and 113th Congresses, which gained 37 and 32 cosponsors, respectively.  Then-Senate Majority Leader Harry Reid refused to allow Audit the Fed to be brought to the floor in either Congress for a vote despite repeatedly calling for an audit of the Federal Reserve throughout his career.