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S 2232 - Federal Reserve Transparency Act of 2015 - National Key Vote

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Title: Federal Reserve Transparency Act of 2015

Vote Smart's Synopsis:

Vote on a motion to invoke cloture on a bill that requires the Comptroller General to audit the Federal Reserve.

Highlights:

  • Requires the Comptroller General to complete an audit of the Board of Governors of the Federal Reserve System and the Federal Reserve Banks within 12 months of the enactment date of this bill (Sec. 2).
  • Requires the Comptroller General to submit a report of his findings and conclusions with respect to the audit to members of Congress (Sec. 2).

NOTE: THIS IS A VOTE TO INVOKE CLOTURE ON A MOTION TO PROCEED, WHICH SENDS THE LEGISLATION TO THE FLOOR OF THE SENATE FOR DEBATE AND AMENDMENT. A MOTION TO PROCEED ALONE REQUIRES A MAJORITY FOR APPROVAL. HOWEVER, THE MOTION CAN BE FILIBUSTERED, AND WHEN THIS OCCURS, A CLOTURE VOTE IS NECESSARY TO VOTE ON THE MOTION TO PROCEED. A THREE-FIFTHS MAJORITY OF THE SENATE IS NECESSARY TO INVOKE CLOTURE.

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