This report is a bit dated since it was released five days ago on 4/1/2009. I hope it has gathered the interests of more cosponsors since then.
RonPaul.com blogged about the latest bill Congressman Ron Paul has introduced, a bill that would bring the Federal Reserve under audit. This would create a paper trail report of how the money they print is spent.
Here follows the important section of the text:
(a) In General- Subsection (b) of section 714 of title 31, United States Code, is amended by striking all after `shall audit an agency' and inserting a period.
(b) Audit- Section 714 of title 31, United States Code, is amended by adding at the end the following new subsection:
`(e) Audit and Report of the Federal Reserve System-
`(1) IN GENERAL- The audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks under subsection (b) shall be completed before the end of 2010.
`(2) REPORT-
`(A) REQUIRED- A report on the audit referred to in paragraph (1) shall be submitted by the Comptroller General to the Congress before the end of the 90-day period beginning on the date on which such audit is completed and made available to the Speaker of the House, the majority and minority leaders of the House of Representatives, the majority and minority leaders of the Senate, the Chairman and Ranking Member of the committee and each subcommittee of jurisdiction in the House of Representatives and the Senate, and any other Member of Congress who requests it.
`(B) CONTENTS- The report under subparagraph (A) shall include a detailed description of the findings and conclusion of the Comptroller General with respect to the audit that is the subject of the report, together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.'.
As of 4/1/2009 the cosponsors are:
Rep Abercrombie, Neil [HI-1] - 2/26/2009
Rep Akin, W. Todd [MO-2] - 3/19/2009
Rep Alexander, Rodney [LA-5] - 3/10/2009
Rep Bachmann, Michele [MN-6] - 2/26/2009
Rep Bartlett, Roscoe G. [MD-6] - 2/26/2009
Rep Blackburn, Marsha [TN-7] - 3/16/2009
Rep Blunt, Roy [MO-7] - 3/24/2009
Rep Broun, Paul C. [GA-10] - 2/26/2009
Rep Buchanan, Vern [FL-13] - 3/17/2009
Rep Burgess, Michael C. [TX-26] - 3/19/2009
Rep Burton, Dan [IN-5] - 2/26/2009
Rep Carter, John R. [TX-31] - 3/31/2009
Rep Castle, Michael N. [DE] - 3/17/2009
Rep Chaffetz, Jason [UT-3] - 3/6/2009
Rep Culberson, John Abney [TX-7] - 3/26/2009
Rep Deal, Nathan [GA-9] - 3/23/2009
Rep DeFazio, Peter A. [OR-4] - 3/9/2009
Rep Duncan, John J., Jr. [TN-2] - 3/6/2009
Rep Fleming, John [LA-4] - 3/18/2009
Rep Foxx, Virginia [NC-5] - 3/10/2009
Rep Franks, Trent [AZ-2] - 3/23/2009
Rep Garrett, Scott [NJ-5] - 3/5/2009
Rep Gingrey, Phil [GA-11] - 3/30/2009
Rep Grayson, Alan [FL-8] - 3/11/2009
Rep Heller, Dean [NV-2] - 3/6/2009
Rep Jones, Walter B., Jr. [NC-3] - 2/26/2009
Rep Kagen, Steve [WI-8] - 2/26/2009
Rep Kingston, Jack [GA-1] - 3/6/2009
Rep Lummis, Cynthia M. [WY] - 3/19/2009
Rep Marchant, Kenny [TX-24] - 3/11/2009
Rep McClintock, Tom [CA-4] - 3/6/2009
Rep McCotter, Thaddeus G. [MI-11] - 3/19/2009
Rep Miller, Jeff [FL-1] - 3/24/2009
Rep Paulsen, Erik [MN-3] - 3/30/2009
Rep Peterson, Collin C. [MN-7] - 3/19/2009
Rep Petri, Thomas E. [WI-6] - 3/10/2009
Rep Platts, Todd Russell [PA-19] - 3/19/2009
Rep Poe, Ted [TX-2] - 2/26/2009
Rep Posey, Bill [FL-15] - 2/26/2009
Rep Price, Tom [GA-6] - 3/10/2009
Rep Rehberg, Denny [MT] - 2/26/2009
Rep Rohrabacher, Dana [CA-46] - 3/6/2009
Rep Sessions, Pete [TX-32] - 3/23/2009
Rep Stark, Fortney Pete [CA-13] - 3/26/2009
Rep Stearns, Cliff [FL-6] - 3/6/2009
Rep Taylor, Gene [MS-4] - 3/6/2009
Rep Terry, Lee [NE-2] - 3/30/2009
Rep Wamp, Zach [TN-3] - 3/16/2009
Rep Woolsey, Lynn C. [CA-6] - 2/26/2009
Rep Young, Don [AK] - 3/6/2009
Here's the video Ron Paul released with his comments to his C4L member base:
I'll either add more information to this blog article as news reports keep coming on this topic or just create a new one.
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