Key Vote YES on the Federal Reserve Transparency Act, S.Amdt. 1217, “Audit the Fed” Amendment

On behalf of our activist community, I urge you to contact your senators and ask them to vote YES on S.Amdt. 1217 to H.R. 4366, the vehicle for the minibus bill that is currently pending in the Senate, to audit the Federal Reserve. The text of the amendment is the Federal Reserve Transparency Act sponsored by Sen. Rand Paul (R-KY).

The Federal Reserve currently operates under a veil of secrecy and uses its power to fulfill its absurd mandate of devaluing our currency. This provides cover to Congress so they can recklessly spend our tax dollars. Even after printing trillions of dollars and contributing to record inflation, the groupthink from current and former Fed governors, Jerome Powell and Janet Yellen, led them to parrot the false narrative that “inflation is transitory,” to the detriment of the American people. 

It is unacceptable that the Federal Reserve remains unaccountable, after decades of inflicting boom, bust cycles on our economy and skyrocketing prices on our economy. In the wake of the recent financial crisis, it’s clear that Congress must have oversight.

The Paul amendment instructs the Comptroller General of the United States, who serves as the director of the Government Accountability Office (GAO) to complete an audit of the Federal Reserve within 12 months of its enactment. A report of the findings of the audit would be required within 90 days of its completion. The amendment would also require the Federal Reserve to provide information to the GAO, currently excluded from audits under 31 USC 714(b), including discussions between the Federal Reserve and the Treasury Department, as well as transactions with foreign banks.

For these reasons, I urge you to call your senators and ask them to vote YES on S.Amdt. 1217 to H.R. 436, the Audit the Fed amendment. FreedomWorks will count the vote on our 2023 Congressional Scorecard. The scorecard is used to determine eligibility for the FreedomFighter Award, which recognizes Members of the House and Senate who consistently vote to support economic freedom and individual liberty.

Adam Brandon, FW Pres. commented:

“After printing trillions of dollars, the groupthink at the Fed led them to spread absurd claims that inflation would be ‘transitory.’ Loose monetary policy has plagued our country for too long, engineering hardships for the American people that only got worse with each increase in interest rates to fight inflation. Sen. Paul’s amendment will provide much-needed oversight for this unaccountable entity.”

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FreedomWorks will count this vote on our 2023 Congressional Scorecard and reserves the right to score any amendments, motions, or other related votes. The scorecard is used to determine eligibility for the FreedomFighter Award, which recognizes Members of the House and Senate who consistently vote to support economic freedom and individual liberty.

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