U.S. Rep. Paul Broun (R-Ga) reintroduced “Audit the Fed” bill, or H.R. 24, on Thursday, the first day of the 113th Congress, a legislation first introduced over a decade ago by former Texas Rep. Ron Paul.
H.R. 24 calls for a full audit of the Federal Reserve and the Federal Reserve banks by the U.S. Comptroller General.
In 2012 Rep. Paul was able to get enough support in the House to pass the measure, but Senate Majority Leader Harry Reid (D-Nev) refused to even introduce the bill in the Senate.
Broun released a statement on Thursday pledging to continue the work of the Texas lawmaker.
“Moving forward, my plan is to pick up right where Congressman Paul left off,” said Broun in a press release. “ Our economy is far from recovering, and the recent fears regarding the potential impacts of the ‘fiscal cliff’ and its aftermath prove that the American people must continue to demand transparency from the entity charged with ensuring stable economic and monetary policy.
“While measures requiring partial audits of the Fed have become law in recent years, it’s clear that current policy does not go far enough. I am honored to carry on one of Rep. Paul’s legacies, as well as his efforts to advocate for a full audit of the Fed, which remains as active – and as closely-guarded – as ever.”
Broun, who represents Georgia’s 10th congressional district, is a member of the Tea Party Caucus. He was the only Georgia Republican in the House to vote against House Speaker John Boehner (R-OH) on Thursday.