05-13-2016, 10:32 PM
From a press release:
WASHINGTON, D.C. – The House Oversight and Government Reform Committee (OGR), chaired by Congressman Jason Chaffetz (R-UT), has announced it will consider Congressman Thomas Massie’s H.R. 24, the Federal Reserve Transparency Act of 2015, also known as “Audit the Fed,” in a markup session on Tuesday, May 17, 2016. A committee markup, where committee members offer amendments and debate whether legislation is ready for consideration by the full House, is the important step between introducing a bill and voting on it on the floor of the House.
“This is a major step toward bringing this bill to the House floor. This bill could make it easier for Members of Congress to monitor the Federal Reserve,” said Congressman Massie, who is a member of the OGR Committee.
"The Federal Reserve's loose monetary policy does nothing more than enrich Wall Street at the expense of the poor and middle class,” said former Congressman Ron Paul (R-TX), who has long championed this cause and originally introduced the bill in 2009. "Passing Audit the Fed will finally enable the American people to know what the Fed is doing to our economy and our money supply. OGR's markup next week of Audit the Fed is a huge first step in bringing Federal Reserve transparency. I'd like to thank Congressman Thomas Massie, Audit the Fed's lead sponsor, for his leadership on this important issue.”