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Thompson Co-Sponsored Legislation to Audit the Federal Reserve Passes the House


Location: Washington, DC

U.S. Representative Glenn "GT' Thompson today voted to support H.R. 459, the Federal Reserve Transparency Act, which requires more comprehensive audits of the United States Federal Reserve by the Government Accountability Office (GAO).

"As the Federal Reserve has increasingly inserted itself into the economic and fiscal policies of the country, it is more important than ever that Congress and the American people have access to a full and transparent account of its policy decisions. Providing for audits promotes much needed transparency that the Federal Reserve System has historically lacked. I want to thank Representative Ron Paul for his tireless efforts to promote transparency in government and for bringing this important issue to the forefront of the nation's attention."

Thompson was an original cosponsor to H.R. 459, which was introduced by Representative Ron Paul (R-TX) on January 26, 2011. The measure passed the House with bipartisan support by a vote of 327-98.

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