Some good stuff from two of my favorite members of congress, Senator Rand Paul and Rep. Michelle Bachmann. Since his father Ron Paul retired from Congress, many have wondered what would be the future of his signature piece of legislation, the “Audit the Fed” bill.
Senator Paul has now re-introduced the bill, continuing to fight the good fight against the unelected and unaccountable Federal Reserve.
Following his father’s crusade, Sen. Rand Paul (R-Ky.) has refiled legislation that would require an expansive audit of the Federal Reserve.
The proposed audit of the bank that oversees the nation’s monetary system has been a longtime crusade of Ron Paul and became a banner issue during his unsuccessful 2012 presidential campaign. He argued that the Fed was responsible for manipulating currency and damaging the economy. Ron Paul was able to persuade Mitt Romney and Newt Gingrich to also support an audit.
The audit has become a rallying cry for Ron Paul’s supporters and seen more public support since it was made a central part of his 2012 race.
Rep. Paul Broun (R-Ga.) has filed the companion legislation in the House, replacing Ron Paul as the lead sponsor.
Ron Paul’s original bill managed to passed 327-98 through the House last year with overwhelming bipartisan support, even though the House Democratic leadership opposed the measure, saying that it could force the Fed to make decisions based more on politics than sound economic policy.
The bill was unable to get a vote in the Senate.
Meanwhile, over in the House, Rep. Michelle Bachmann is co-sponsoring a bill to do the same.
Bravo to both Senator Paul and Rep. Bachmann.