House easily approves Paul’s ‘audit the Fed’ bill in 327-98 vote

Rep. Ron Paul (R-Texas) won a rare legislative victory on Wednesday when the House passed his legislation allowing for a full audit of the Federal Reserve, including an audit of the Fed’s monetary policy decisions.


The House approved Paul’s Federal Reserve Transparency Act, H.R. 459, in a bipartisan 327-98 vote. The vote split Democrats almost evenly — 89 for and 97 against — while only one Republican, Rep. Robert Turner (R-N.Y.), voted against it. http://thehill.com/blogs/floor-action/house/240071-house-pass... Paul's bill faces a murky future in the Senate, where Senate Majority Leader Harry Reid (D-Nev.) does not have any intentions of bringing it up. A companion measure, introduced by Paul's son, Sen. Rand Paul (R-Ky.), has garnered 22 Republican co-sponsors.

Sen. Paul hailed his father as at "the vanguard of this movement," dating back to when he first introduced a Fed audit bill in 1983. He also put pressure on Democratic leaders in the Senate to bring it up for a vote.

"I call upon Democrat leadership to allow a vote in the Senate on this much-needed transparency bill," he said.