"Audit the Fed" Legislation Gaining Traction in Congress
“Audit the Fed” (H.R. 1207) Legislation has been gaining some popularity and momentum in the House recently, and it has also received some support from across the aisle. Rep. Tom Perriello (D- VA 5th) has signed onto this legislation, which has been introduced by Rep. Ron Paul (R-TX) to make the Federal Reserve more accountable and transparent. Perriello also joins other Virginia Congressmen, including: Rep. Randy Forbes (R-VA 4th), Rep. Bob Goodlatte (R-VA 6th), and Rep. Rob Wittman (R-VA 1st) in supporting this legislation.
H.R. 1207 will amend section 714 of Title 31 of the U.S. Code to remove the restrictions on how the GAO can audit the Federal Reserve. Once these restrictions are removed, all of the Federal Reserve interactions would be open to Congressional oversight.
Hopefully, once this legislation is passed, we will be one step closer to ending the Federal Reserve once and for all.
**Cross Posted at Virginia News Platoon
Posted on May 22, 2009, in Economy, National Politics and tagged Congress, Federal Reserve, Ron Paul. Bookmark the permalink. 2 Comments.
Now this is something we both agree on. Aside from Cantor, what other congressmen in Virginia are opposed to it?
The other Congressmen who have not signed on are: Bobby Scott, Rick Boucher, Frank Wolf, Glenn Nye, and Gerry Connolly.