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((Multiple issues|
((Update|date=November 2009))
((Missing information|multiple congressional sessions and currently proposed legislation.|date=November 2015))
))

The '''Federal Reserve Transparency Act of 2015''' (((USBill|114|HR|24))) was a bill introduced in the [[United States House of Representatives|U.S. House of Representatives]] of the [[114th United States Congress]] by [[United States Congress|Congressman]] [[Thomas Massie]] ([[Kentucky's 4th congressional district|KY-4]]). It included proposals for a reformed [[audit]] of the [[Federal Reserve System]] (the "Fed"). The [[United States Senate|Senate]] version was introduced by Senator [[Rand Paul]] ([[Republican Party (United States)|R]]-[[Kentucky|KY]]). (((USBill|114|S|264))). 

The original version of the bill, (((USBill|111|HR|1207))), was proposed by now retired [[United States Congress|Congressman]] [[Ron Paul]] in response to the [[2008 financial crisis]] during the [[111th United States Congress]]. The [[United States Senate|Senate]] version was introduced by [[Bernie Sanders]] ([[Independent (politician)|I]]-[[Vermont|VT]]). (((USBill|111|S|604))). [[Ron Paul]] was disappointed with the Senate's version of the bill, stating it "guts the spirit of a truly meaningful audit of the most crucial transactions of the Fed".<ref>((cite news|url=https://www.nytimes.com/2010/05/12/business/12regulate.html?_r=5#story-continues-1|work=[[The New York Times]]|date=May 11, 2010|access-date=November 11, 2015|author=Herszenhorn, David M.|title=Senate Seeks Audit of Fed Actions in Financial Crisis))</ref>

The bill was subsequently brought up in the [[112th United States Congress]] as (((USBill|112|HR|459))) /((USBill|112|S|202))<ref>O'Keefe, Ed (July 25, 2012) [https://www.washingtonpost.com/blogs/2chambers/post/audit-the-fed-bill-set-for-house-vote/2012/07/24/gJQAJypU7W_blog.html "‘Audit the Fed’ bill passes in the House with bipartisan support"], ''[[The Washington Post]]''. Retrieved July 25, 2012.</ref><ref>[http://clerk.house.gov/evs/2012/roll513.xml FINAL VOTE RESULTS FOR ROLL CALL 513] Retrieved July 26, 2012.</ref> and  in the [[113th United States Congress]]  as (((USBill|113|HR|24)))/((USBill|113|S|209)). All three previous attempts passed in [[United States House of Representatives]] but died in the [[US Senate]].

==Purpose==
According to its short title, the Federal Reserve Transparency Act of 2009 (((USBill|111|HR|1207))) would have amended [[Title 31 of the United States Code|Title 31]] of the [[United States Code]] "to reform the manner in which the [[Board of Governors]] of the Federal Reserve System is audited by the [[Comptroller General of the United States]] and the manner in which such audits are reported". It would have stricken exceptions to the audit protocol in ((USCode|31|714)) for the [[Federal Reserve System]], the [[central bank]] of the [[United States]], and would have replaced an indefinite deadline with a deadline of December 2010.<ref name=txt>((cite web|url=http://www.govtrack.us/congress/billtext.xpd?bill=h111-1207|date=2009-02-26|access-date=2009-04-14|title=Text of H.R. 1207: Federal Reserve Transparency Act of 2009|publisher=GovTrack.us|author=[[111th Congress]] (2009)|work=Legislation))</ref> If enacted, the bill would also have ensured that the audit results would be available to Congress.<ref name=va/> The audit would include the Fed's "[[discount window]]", its funding facilities, its [[open market operation]]s, and its agreements with foreign bankers.<ref>((cite news|url=http://news.goldseek.com/InternationalForecaster/1240189200.php|publisher=GoldSeek|work=International Forecaster|date=2009-04-18|access-date=2009-04-19|author=Chapman, Bob|title=Gold, Silver, Economy & More))</ref>

The Board of Governors of the Federal Reserve System has stated that "the financial statements of the Federal Reserve Banks and the Board of Governors are audited annually by an independent outside auditor."<ref>((cite web|url=http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm#9|publisher=[[Federal Reserve Board]]|date=2007-03-07|access-date=2009-04-14|title=Since the Federal Reserve has considerable discretion in carrying out its responsibilities, to whom is it accountable?|url-status=dead|archive-url=https://web.archive.org/web/20100217220435/http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm#9|archive-date=2010-02-17))</ref> The
bill's sponsor, Congressman Ron Paul ([[Republican Party (United States)|R]]-[[Texas|TX]]), countered by stating that the present audit process exempts the Fed's "most crucial activities".<ref name=pol>((cite news|url=http://www.politico.com/news/stories/0409/21427.html|title=Audit the Federal Reserve for answers|author=[[Ron Paul|Paul, Ron]]|work=[[Politico.com]]|date=2009-04-20|access-date=2009-04-20))</ref>

==Legislative history==
{| class="wikitable"
!Congress
!Short title
!Bill number(s)
!Date introduced
!Sponsor(s)
!# of cosponsors
!Latest status
|-
|rowspan=2|[[111th United States Congress|111th Congress]]
|Federal Reserve Transparency Act of 2009
|((USBill|111|HR|1207))
|February 26, 2009
|[[Ron Paul]]
(R-TX)
|320
|Died in committee
|-
|Federal Reserve Transparency Act
|((USBill|111|S|513))
|March 3, 2009
|[[Bernie Sanders]]
(I-VT)
|2
|Died in committee
|-
|rowspan=3|[[112th United States Congress|112th Congress]]
|Federal Reserve Transparency Act of 2012
|((USBill|112|HR|459))
|January 26, 2011
|[[Ron Paul]]
(R-TX)
|274
|Passed House (327-98)<ref>((URL|https://clerk.house.gov/Votes/2012513))</ref>
|-
|Federal Reserve Transparency Act
|((USBill|112|HR|1496))
|April 12, 2011
|[[Ron Paul]]
(R-TX)
|0
|Died in committee
|-
|Federal Reserve Transparency Act of 2011
|((USBill|112|S|202))
|January 26, 2011
|[[Rand Paul]]
(R-KY)
|37
|Died in committee
|-
|rowspan=2|[[113th United States Congress|113th Congress]]
|Federal Reserve Transparency Act of 2014
|((USBill|113|HR|24))
|January 3, 2013
|[[Paul Broun]]
(R-GA)
|228
|Passed House
|-
|Federal Reserve Transparency Act of 2013
|((USBill|113|S|209))
|February 4, 2013
|[[Rand Paul]]
(R-KY)
|32
|Died in committee
|-
|rowspan=3|[[114th United States Congress|114th Congress]]
|rowspan=3|Federal Reserve Transparency Act of 2015
|((USBill|114|HR|24))
|January 6, 2015
|[[Thomas Massie]]
(R-KY)
|201
|Died in committee
|-
|((USBill|114|S|264))
|January 27, 2015
|[[Rand Paul]]
(R-KY)
|34
|Died in committee
|-
|((USBill|114|S|2232))
|November 3, 2015
|[[Rand Paul]]
(R-KY)
|26
|Died in committee
|-
|rowspan=2|[[115th United States Congress|115th Congress]]
|rowspan=2|Federal Reserve Transparency Act of 2017
|((USBill|115|HR|24))
|January 3, 2017
|[[Thomas Massie]]
(R-KY)
|114
|Died in committee
|-
|((USBill|115|S|16))
|January 3, 2017
|[[Rand Paul]]
(R-KY)
|16
|Died in committee
|-
|rowspan=2|[[116th United States Congress|116th Congress]]
|rowspan=2|Federal Reserve Transparency Act of 2019
|((USBill|116|HR|24))
|January 3, 2019
|[[Thomas Massie]]
(R-KY)
|102
|Died in committee
|-
|((USBill|116|S|148))
|January 16, 2019
|[[Rand Paul]]
(R-KY)
|8
|Died in committee
|-
|rowspan=2|[[117th United States Congress|117th Congress]]
|rowspan=2|Federal Reserve Transparency Act of 2021
|((USBill|117|HR|24))
|January 4, 2021
|[[Thomas Massie]]
(R-KY)
|57
|Referred to committee
|-
|((USBill|117|S|573))
|March 3, 2021
|[[Rand Paul]]
(R-KY)
|7
|Referred to committee
|}


==House==
Representative Paul introduced the bill to the U.S. House of Representatives of the 111th Congress on February 26, 2009, at which point it was referred to the Committee on Financial Services.<ref name=hr>((cite web|url=http://www.govtrack.us/congress/bill.xpd?bill=h111-1207|date=2009-02-26|access-date=2009-04-14|title=H.R. 1207: Federal Reserve Transparency Act of 2009|publisher=GovTrack.us|author=[[111th Congress]] (2009)|work=Legislation))</ref> Its 11 original cosponsors were [[Neil Abercrombie]] ([[Democratic Party (United States)|D]]-[[Hawaii|HI]]), [[Michele Bachmann]] ([[Republican Party (United States)|R]]-[[Minnesota|MN]]), [[Roscoe Bartlett]] ([[Republican Party (United States)|R]]-[[Maryland|MD]]), [[Paul Broun]] ([[Republican Party (United States)|R]]-[[Georgia (U.S. state)|GA]]), [[Dan Burton]] ([[Republican Party (United States)|R]]-[[Indiana|IN]]), [[Walter B. Jones]] ([[Republican Party (United States)|R]]-[[North Carolina|NC]]), [[Steve Kagen]] ([[Democratic Party (United States)|D]]-[[Wisconsin|WI]]), [[Ted Poe]] ([[Republican Party (United States)|R]]-[[Texas|TX]]), [[Bill Posey]] ([[Republican Party (United States)|R]]-[[Florida|FL]]), [[Denny Rehberg]] ([[Republican Party (United States)|R]]-[[Montana|MT]]), and [[Lynn Woolsey]] ([[Democratic Party (United States)|D]]-[[California|CA]]).<ref name=txt/>

He immediately promoted the bill at the annual [[Conservative Political Action Conference]] (CPAC) on February 27.<ref name=fool>((cite news|url=http://caps.fool.com/blogs/viewpost.aspx?bpid=159824&t=01004994858403520305|publisher=[[Motley Fool]]|title=Support H.R. 1207 to Audit the Federal Reserve|date=2009-03-10|access-date=2009-04-14|archive-date=2010-01-13|archive-url=https://web.archive.org/web/20100113132349/http://caps.fool.com/blogs/viewpost.aspx?bpid=159824&t=01004994858403520305|url-status=dead))</ref> Paul charges the [[Federal Open Market Committee]] with being "less than transparent" with its secret meetings. In an April 2009 editorial, Paul thanked the Fed for its responsive attempt to enhance transparency and accountability, but called it "window dressing at best, and it's utterly useless at worst".<ref name=pol/>

===Progress===

[[File:HR1207 Cosponsors.svg|right|445px]]
As the 111th Congress drew to its close in December 2010, ((USBill|111|HR|1207)) had 320 cosponsors,<ref>((Cite web |url=http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR01207:@@@P |title=Library of Congress:H.R. 1207 Co-sponsors |access-date=2009-07-26 |archive-date=2014-10-07 |archive-url=https://web.archive.org/web/20141007125507/http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR01207:@@@P |url-status=dead ))</ref> including all House Republicans, as well as over 100 Democrats, suggesting broad bipartisan support.<ref name=lt>((cite news|url=http://www.lincolntribune.com/modules/news/article.php?storyid=12043|title=McHenry Backs Federal Reserve Transparency Act|date=2009-05-05|access-date=2009-05-07|work=[[Lincolnton, North Carolina|Lincoln Tribune]]))</ref><ref name=hnn>((cite news|url=http://www.huntingtonnews.net/political/090430-rutherford-politicalfederalreserve.html|title=91 Co-Sponsors Ask for Federal Reserve Transparency|author=Rutherford, Tony|date=2009-04-30|access-date=2009-05-07|work=Huntington News Network))</ref>  [[Dennis Kucinich]] ([[Democratic Party (United States)|D]]-[[Ohio|OH]]) became the 218th sponsor as listed at [[THOMAS.gov]] on June 11; 218 votes are needed to pass any bill in the House,<ref>((cite book|url=https://books.google.com/books?id=vyl_t1a8UfIC&pg=PA61|title=An Introduction to the U.S. Congress|author=Cushman, Charles Bancroft|page=61|publisher=M.E. Sharpe|year=2006|isbn=978-0-7656-1506-0))</ref> and 290 were needed for a [[Veto override|veto-proof majority]]. [[Barney Frank]] ([[Democratic Party (United States)|D]]-[[Massachusetts|MA]]), Chairman of the House Committee on Financial Services through which the bill must pass, finally endorsed the bill in August following months of silence.<ref>((cite news|url=http://www.foxnews.com/politics/2009/08/30/frank-says-house-likely-approve-audit-federal-reserve/|date=2009-08-30|access-date=2009-08-31|title=Frank Says House Will Likely Approve Audit of Federal Reserve|work=[[Fox News]]))</ref> Frank later reversed his position on the bill after the Watt amendment was rejected and Watt's revisions undone by an amendment co-sponsored by Paul and [[Alan Grayson]] ([[Democratic Party (United States)|D]]-[[Florida|FL]]).<ref name="mw-vote">((cite news|url=http://www.marketwatch.com/story/panel-votes-to-audit-feds-balance-sheet-2009-11-19|agency=Market Watch|title=Panel votes to audit the Fed; cap its spending at $4 trillion|date=November 19, 2009|first=Ronald|last=Orol))</ref>

===Amendment to Financial Stability Improvement Act of 2009 (HR 3996)===
On November 19, 2009, the Committee on Financial Services approved the Paul-Grayson amendment to the Financial Stability Improvement Act of 2009 (((USBill|111|HR|3996))). The amendment includes many provisions of the Federal Reserve Transparency Act, including removing GAO audit restrictions and allowing a more complete audit of the Federal Reserve, including reviewing various policies and agreements with foreign entities.<ref name="mw-vote" /><ref>((cite web|url=http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/|title=Audit the Federal Reserve: HR 1207 and S 604|access-date=24 November 2009))</ref>  It was passed by in a 43-26 vote, with bipartisan support despite opposition from former supporter and Committee Chairman Barney Frank. The amendment was also opposed by [[Chair of the Federal Reserve|Federal Reserve Chairman]] [[Ben Bernanke]], [[United States Secretary of the Treasury|Treasury Secretary]] [[Timothy Geithner|Tim Geithner]] and others from the [[Obama administration]].<ref name="mw-vote" />

Frank declined to vote for the final amendment after proposed changes made by fellow Democrat [[Melvin Watt]] representing [[North Carolina's 12th congressional district]], which encompasses most of [[Bank of America]] hometown [[Charlotte, North Carolina|Charlotte]], were stripped out in favor of the amendment's original language by the amendment proposed by Paul and Grayson.<ref name="mw-vote" />  Watt's proposed version included provisions that allowed audits of the Fed's balance sheet, but not for the monetary policy.<ref>((cite news|url=https://www.reuters.com/article/politicsNews/idUSTRE5AJ04T20091120|title=House panel OKs plan to open Fed policy to audits|last=Felsenthal|first=Mark|date=November 20, 2009|publisher=Reuters|access-date=26 November 2009))</ref>  Ryan Grim, a contributor for the left-leaning news blog ''[[The Huffington Post]]'' suggested Watt's amendment was an attempt to create less transparency than before at the Federal Reserve.<ref>((cite news|url=http://www.huffingtonpost.com/2009/11/17/audit-the-fed-effort-unde_n_361389.html|work=The Huffington Post|date=November 17, 2009|first=Ryan|last=Grim|title=Audit The Fed Effort Under Threat In House))</ref>

===Passage by the House===
The Financial Stability Improvement Act was combined, along with several other bills from the same committee, into The Wall Street Reform and Consumer Protection Act of 2009 - Financial Stability Improvement Act of 2009 (((USBill|111|HR|4173))). The House passed the new bill on December 11, 2009 on a vote of 223-202. The vote was mostly along party lines, with no Republicans voting for the bill.<ref>((cite web|url=https://www.npr.org/blogs/thetwo-way/2009/12/house_financial_overhaul_consu.html|title=House Passes Financial Overhaul Legislation|last=Coleman|first=Korva|date=December 11, 2009|publisher=npr.org|access-date=December 11, 2009))</ref> Paul, objecting to some of the provisions of the combined bill, voted against passage despite the inclusion of the audit provisions he had been proposing for years.<ref>((cite news|url=https://blogs.wsj.com/economics/2009/12/11/qa-ron-paul-explains-why-he-cant-vote-for-his-own-fed-audit/|title=Q&A: Ron Paul Explains Why He Can't Vote for His Own Fed Audit|last=Paletta|first=Damian|date=December 11, 2009|publisher=wsj.com|access-date=December 11, 2009))</ref>

==Senate==
((Update|inaccurate=y|date=May 2013))
[[File:S604 Cosponsors.svg|right|439px]]
On March 16, 2009, [[U.S. Senator]] [[Bernie Sanders]] ([[Independent (politician)|I]]-[[Vermont|VT]]) introduced the Senate companion version, ((USBill|111|S|604)), the Federal Reserve Sunshine Act of 2009, with the same provisions. This version was then referred to the [[United States Senate Committee on Banking, Housing, and Urban Affairs|Committee on Banking, Housing, and Urban Affairs]].<ref>((cite web|url=http://www.govtrack.us/congress/bill.xpd?bill=s111-604|date=2009-03-16|access-date=2009-04-14|title=S. 604: Federal Reserve Transparency Act of 2009|publisher=GovTrack.us|author=[[111th Congress]] (2009)|work=Legislation))</ref> The bill had 32 co-sponsors as of 01/28/2010.<ref>((Cite web |url=http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN00604:@@@P |title=Library of Congress:S.604 Co-sponsors |access-date=2009-07-24 |archive-date=2016-07-04 |archive-url=https://web.archive.org/web/20160704134210/http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN00604:@@@P |url-status=dead ))</ref>

===Senate Amendment 1367===
On July 6, 2009, U.S. Senator [[Jim DeMint]] attempted to amend HR 2918, the Legislative Branch Appropriations Act by adding the entire text of ((USBill|111|S|604)) as Senate Amendment 1367. However, U.S. Senator [[Ben Nelson]] stopped the amendment by claiming it violated Senate Rule 16, by "legislating" on an appropriations bill. The Senate president agreed, but when challenged by DeMint, admitted that many other [[Government Accounting Office|GAO]] audits in the bill also violated Rule 16, but took no action. The bill passed without further changes.<ref>((cite web|url=https://www.youtube.com/watch?v=4tRQHsXujpo |archive-url=https://ghostarchive.org/varchive/youtube/20211220/4tRQHsXujpo |archive-date=2021-12-20 |url-status=live|date=2009-07-06|access-date=2009-07-06|title=DeMint amendment to audit the Federal Reserve blocked by Senate Leadership|website=[[YouTube]] ))((cbignore))</ref>

==Related legislation==
The two titles for these two versions of the bill are not to be confused with the same two titles (used in reverse) for the two versions of a related bill. The House "Federal Reserve Sunshine Act of 2009" by Paul (((USBill|111|HR|1348))), and the Senate "Federal Reserve Transparency Act of 2009" by Sanders (((USBill|111|S|513))), require the Federal Reserve to publish information on financial assistance provided to various entities during the [[Emergency Economic Stabilization Act of 2008|2008 bailout]]. This bill creates a website listing all banks that have borrowed from the Fed since March 24, 2008, and the amount, terms, and "specific rationale" of the loans. Sanders commented, "I have a hard time understanding how you have put $2.2 trillion at risk without making those names available." Fed chair [[Ben Bernanke]] had told Sanders that publishing the names would make the banks feel stigmatized and potentially reluctant to borrow further.<ref name=va>((cite news|url=http://www.valleyadvocate.com/article.cfm?aid=9411|title=Imperium Watch: Banks, Soundproof No More: U.S. Sen. Bernie Sanders of Vermont calls out the Federal Reserve for coddling the country's biggest lenders|author=Kraft, Stephanie|date=2009-03-26|access-date=2009-04-14|work=[[Valley Advocate]]|archive-date=2009-06-21|archive-url=https://web.archive.org/web/20090621022640/http://www.valleyadvocate.com/article.cfm?aid=9411|url-status=dead))</ref> There was also a bill introduced in the 116th Congress called the [[Federal Reserve Sunshine Act of 2020]] by Congressman [[Mark E. Green|Mark Green]] (TN-07). This bill would rescind the [[CARES Act]] provision that allows the Federal Reserve's [[Federal Reserve Board of Governors|Board of Governors]] to conduct meetings without complying with federal open records laws.

==Criticism==

Senator [[Judd Gregg]] called the Paul-Grayson amendment "[[pandering (politics)|pandering]] to [[populism]]", saying the audit requirements would be detrimental to monetary policy. Gregg added that "It's great PR; you go home and beat up the Fed."  <ref>((cite web|url=http://thehill.com/blogs/blog-briefing-room/news/68841-gregg-fed-audit-amendment-panders-to-populist-fervor%3Fpage%3D1|title=Sen. Gregg says Federal Reserve amendment panders to 'populist fervor'|last=Romm|first=Tony|date=November 20, 2009|work=The Hill|access-date=26 November 2009|archive-url=https://web.archive.org/web/20110604030807/http://thehill.com/blogs/blog-briefing-room/news/68841-gregg-fed-audit-amendment-panders-to-populist-fervor%3Fpage=1|archive-date=4 June 2011|url-status=dead))</ref>

"I strongly oppose Audit the Fed," said Federal Reserve chief [[Janet Yellen]], saying that it would "bring short-term political pressures to bear" on the central bank and dissuade it from making the "hard choices" needed to curb inflation.<ref>[[Chris Matthews]], [http://fortune.com/2015/02/24/federal-reserve-janet-yellen-audit/ "'Audit the Fed' is about power, not transparency."], [[Fortune (magazine)|''Fortune'']], February 24, 2015.</ref> The central bank's chair, in opposing the idea, said it would "politicize monetary policy."<ref>Jordan Weissmann, [http://www.slate.com/blogs/moneybox/2015/02/24/the_absurdity_of_rand_paul_s_quest_to_audit_the_fed_if_he_succeeds_it_will.html "How Rand Paul’s Crusade to Audit the Fed Could Make His Worst Nightmares Come True."], [[Slate (magazine)|''Slate'']], Feb. 24 2015.</ref>

==Advocacy==
Support for the Federal Reserve Transparency Act of 2009 was one of the issues raised as part of the nationwide [[2009 Tea Party protests]]. During an episode of the ''[[Glenn Beck (TV program)|Glenn Beck]]'' program which broadcast April 15 from a rally at [[the Alamo]] in [[San Antonio]], [[Blaze Media|Pat Gray]] interviewed a local supporter of the Transparency Act, drawing cheers from the crowd.<ref>((cite news|url=http://libertymaven.com/2009/04/16/tea-parties-ron-paul-hr1207-and-penn-jillette-oh-my/5353/|publisher=[[Fox News]]|date=2009-04-15|access-date=2009-04-16|title=Glenn Beck|url-status=dead|archive-url=https://web.archive.org/web/20090420135057/http://libertymaven.com/2009/04/16/tea-parties-ron-paul-hr1207-and-penn-jillette-oh-my/5353/|archive-date=2009-04-20))</ref>

Support for the bill has also come from those on the left outside of Congress. In a letter to Chairman Barney Frank of the House Financial Services Committee, Ranking Member Spencer Bachus and its members, several [[Modern liberalism in the United States|progressives]] such as bloggers [[Jane Hamsher]] of Firedoglake, Yves Smith of Naked Capitalism, author [[Naomi Klein]], labor leaders President [[Richard Trumka]] of the [[AFL–CIO]], the [[SEIU]]'s  President [[Andy Stern]], the [[United Steelworkers]]'s President [[Leo Gerard]], economists [[Dean Baker]], [[James K. Galbraith]], Rob Johnson, and professors [[William K. Black]], [[Thomas Ferguson (academic)|Thomas Ferguson]], and L. Randall Wray, pushed for passage of the bill and against the adoption of the amendment proposed by Rep. Watt.<ref>((cite news|url=http://www.huffingtonpost.com/2009/11/19/audit-the-fed-effort-wins_n_363410.html |work=Huffington Post |first=Arthur |last=Delaney |title=Audit The Fed Effort Wins Support From An Unusual Coalition |date=2009-11-19))</ref>

The advocacy group [[Campaign for Liberty]] (CFL) encourages members to petition representatives to cosponsor the Transparency Act.<ref>((cite news|url=http://www.campaignforliberty.com/campaigns/auditthefed.php?projid=25|title='Audit the Fed' petition to Congress|publisher=[[Campaign for Liberty]]|access-date=2009-04-14))</ref> College Republicans at [[Appalachian State University]], staged a [[Boston Tea Party]] themed assembly for tax day 2009, to raise awareness for the Transparency Act; the event included wearing white wristbands to symbolize [[slavery]] and mailing tea bags to state representatives.<ref>((cite news|url=http://theapp.appstate.edu/content/view/5064/43/|title=Students throw modern day tea party on Tax Day|author=Sztukowski, Edward|work=The Appalachian|publisher=[[Appalachian State University]]|date=2009-04-07|access-date=2009-04-14))</ref> CFL president John Tate promotes the bill in conjunction with dealing with "the silent, destructive tax of monetary inflation", this thought was echoed in the ''[[Kansas City Star]]''.<ref>((cite news|url=http://blogs.kansascity.com/unfettered_letters/2009/03/aig-bonus-onus.html|title=AIG bonus onus|date=2009-03-30|author=Baber, C.K.|access-date=2009-04-14|work=[[Kansas City Star]]|archive-url=https://web.archive.org/web/20090430110458/http://blogs.kansascity.com/unfettered_letters/2009/03/aig-bonus-onus.html|archive-date=2009-04-30|url-status=dead))</ref> Ron Paul, [[Andrew Napolitano]], and state representative [[Jim Guest]] promoted the bill "at length" at the crowded first CFL regional conference in [[St. Louis, Missouri]] (March 27–29), affirming Americans' "right to know where their tax dollars are going, especially those going to companies from the stimulus package".<ref>((cite news|url=http://www.studlife.com/media/pdf/2008-2009/09-03-30.pdf |publisher=[[Washington University]]|work=Student Life|date=2009-03-30|access-date=2009-04-14|author=Messenger, David|title=Ron Paul draws students to Liberty Campaign event))</ref> Pro-gambling group Gambling911.com is also interested in the Transparency Act, as an opportunity to audit the Federal Reserve, and also promoted the CFL "Freedom Celebration" regional conference.<ref>((cite news|url=http://www.gambling911.com/business/financial/ron-paul-economy-most-people-recognize-depression-032009.html|title=Ron Paul on The Economy: Most People Recognize This As A Depression|author=Woo, Jenny|date=2009-03-23|access-date=2009-04-14|publisher=Gambling911.com))</ref>

Donald Trump while campaigning for the 2016 presidential Republican nomination has stated that he supports Audit the Fed.<ref>((cite tweet|user=realDonaldTrump|author=Donald J. Trump|number=701868541545295872|date=22 February 2016|title=It is so important to audit The Federal Reserve, and yet Ted Cruz missed the vote on the bill that would allow this to be done.))</ref>

==See also==
* [[Federal Reserve Board Abolition Act]] (((USBill|111|HR|833)))
* [[List of legislation sponsored by Ron Paul|Free Competition in Currency Act]] (((USBill|111|HR|4248)))

==References==
((Reflist|2))

==External links==
* [http://www.auditthefed.com Audit The Fed] - Trans-partisan coalition formed to promoted HR1207/S604.
* [https://www.govtrack.us/congress/bills/114/hr24 H.R. 24:Federal Reserve Transparency Act of 2015], Govtrack.us
* [http://www.govtrack.us/congress/bill.xpd?bill=h111-1207 H.R. 1207:Federal Reserve Transparency Act of 2009], Govtrack.us

((Ron Paul))
((Rand Paul))

[[Category:Federal Reserve System]]
[[Category:Proposed legislation of the 111th United States Congress]]
[[Category:Proposed legislation of the 112th United States Congress]]
[[Category:Proposed legislation of the 113th United States Congress]]
[[Category:Proposed legislation of the 114th United States Congress]]
[[Category:Proposed legislation of the 115th United States Congress]]
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