Today, July 25, the House of Representatives passed Ron Paul's Audit the Fed bill (H.R. 459) 327-98. Even though Democratic leadership in the House whipped their members hard to vote against auditing the Fed, the vote among Democrats was fairly close at 89 yeas and 97 nays. It's also encouraging that Republicans voted 238 to 1 for the bill. Click here to see a video of this historic vote on the floor of the House below.
Here's what Senator Rand Paul said about today's House passage of his father's Audit the Fed bill:
An audit of the Federal Reserve is more urgent than ever. A GAO report from July 2011 revealed the Fed bailed out banks and corporations to the tune of $16 trillion in taxpayer dollars. A full and thorough audit will finally bring transparency and accountability to the secretive institution that devalues Americans’ savings, drives inflation, and enables big government. I applaud its passage in the House today.
I also congratulate my father, Rep. Ron Paul, who has long fought at the vanguard of this movement when he first introduced Audit the Fed in 1983. Now with 271 co-sponsors and having passed the House, I call upon Democrat leadership to allow a vote in the Senate on this much-needed transparency bill.
Senate Majority Leader Harry Reid has already vowed not to allow a vote on Audit the Fed in the Senate, even though a 1995 video (see below) shows him calling for an audit of the Fed on the floor of the Senate. However, Senator Rand Paul's companion bill in the Senate, S. 202, does have 22 cosponsors. And, the political dynamics of the upcoming elections could lead to a situation where sufficient pressure is applied to Reid to enable a vote on Audit the Fed in the Senate this year.
Your job is to apply grassroots pressure on your two senators to get a vote on Audit the Fed scheduled in the Senate. Send a message to both your senators in support of a vote on Audit the Fed.
(Image of Federal Reserve in Washington, DC via Shutterstock.)