HR 459, commonly known as the "Audit the Fed" bill, is set to pass the House in its vote today. Senator Michael Baumgartner issued this statement urging the Senate to vote on and pass the Senate companion bill, S202.
"The passing of these bills will allow for the transparency that Americans deserve," Baumgartner said. "Americans have demanded to know what goes on in our central bank-- in fact, 74% of the public is in favor of auditing the Fed. The government works for the people. Auditing the Federal Reserve will provide us with the necessary information required for taking corrective actions, if need be.
"I urge Maria Cantwell to pass its companion bill, allowing an audit from the Comptroller General's office by the end of the year. It is crucial that every entity of the federal government be transparent with the American people.
"In the 99 years that the Federal Reserve has existed, it's never once been audited. I think we should consider this as a legitimate course of action, and I hope that Senator Cantwell will help us shed light on our monetary system and embrace transparency in our government."