After many months of hearing about H.R. 1207, Ron Paul’s bid to audit the Federal Reserve, the resolution has finally advanced to a phase where grassroots citizens can have a say on the matter via their member of Congress. That’s because H.R. 1207 is now in the House Financial Services Committee, whose member list is here.
Paul’s legislation, which would 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. As of this writing, the legislation has 71 co-sponsors, making it perhaps a historical piece of legislation for the oft-lonely Congressman from Texas.
Not surprisingly, nearly all RLC-endorsed candidates in Congress have signed on to co-sponsor this legislation.
Some of the surprises on the list of co-sponsors, at least from my perspective, include Republicans Shelley Moore Capito (R-WV), Roy Blunt (R-MO), Dean Heller (R-NV), Mary Fallin (R-OK), Rodney Alexander (R-LA), and Rob Wittman (R-VA). Most of the Democrats who have signed on are, in my estimation, often “go at it alone” types such as far-left Peter DeFazio (OR) and Pete Stark (CA) and Blue-Dog Dems. Gene Taylor (MS) and Steve Kagen (WI). A few powerful Democrats have also signed on, such as Lynn Woolsey (CA) and Neil Abercrombie (HI).
For many months now, RLC members across the country have spent quite a bit of time promoting H.R. 1207. For example, in Alameda County (Bay Area) California, where the RLC holds a majority of members on a very large County GOP Executive Committee, a resolution supporting H.R. 1207 passed.
The resolution, championed by California RLC Secretary Walter Stanley and California RLC Board member David LaTour, says, in part, “We applaud transparency and accountability in government and reject government secrecy involving monetary policy that impacts the entire economy.”
A resolution supporting H.R. 1207 also passed in the Sonoma County GOP, thanks to the efforts of California RLC Chair Matthew Heath.
Similar resolutions are being worked on and introduced in other localities throughout the country.