Ron Paul’s Bill To Audit The Federal Reserve Now Has 149 Co-Sponsors

By tmartin • May 8, 2009

23 comments

Ron Paul’s bill to audit the Federal Reserve (HR 1207) now has 149 co-sponsors, and the numbers keep growing!
This is history in the making, and victory is within reach. Imagine what will happen if HR 1207, The Federal Reserve Transparency Act, comes up for vote in Congress! With one third of the House of Representatives already co-sponsoring this bill, it has real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.
Step 1: Your Representative

If your representative is not on the following list of HR 1207 co-sponsors, call their offices, write to them, email them, etc. Let them know they need to support HR 1207. If you live in their district, let them know. Go to their office.
Capitol Switchboard: (202) 224-3121
[INDENT] HR 1207 Co-Sponsors (as of 5/12/2009)
Rep Abercrombie, Neil [HI-1] - 2/26/2009
Rep Aderholt, Robert B. [AL-4] - 5/6/2009
Rep Adler, John H. [NJ-3] - 5/6/2009
Rep Akin, W. Todd [MO-2] - 3/19/2009
Rep Alexander, Rodney [LA-5] - 3/10/2009
Rep Austria, Steve [OH-7] - 5/6/2009
Rep Bachmann, Michele [MN-6] - 2/26/2009
Rep Bachus, Spencer [AL-6] - 4/29/2009
Rep Baldwin, Tammy [WI-2] - 4/21/2009
Rep Barrett, J. Gresham [SC-3] - 4/28/2009
Rep Bartlett, Roscoe G. [MD-6] - 2/26/2009
Rep Barton, Joe [TX-6] - 5/4/2009
Rep Biggert, Judy [IL-13] - 4/28/2009
Rep Bilbray, Brian P. [CA-50] - 4/21/2009
Rep Bilirakis, Gus M. [FL-9] - 5/4/2009
Rep Bishop, Rob [UT-1] - 4/21/2009
Rep Blackburn, Marsha [TN-7] - 3/16/2009
Rep Blunt, Roy [MO-7] - 3/24/2009
Rep Bono Mack, Mary [CA-45] - 4/29/2009
Rep Boozman, John [AR-3] - 5/7/2009
Rep Brady, Kevin [TX-8] - 4/22/2009
Rep Broun, Paul C. [GA-10] - 2/26/2009
Rep Brown, Henry E., Jr. [SC-1] - 4/28/2009
Rep Buchanan, Vern [FL-13] - 3/17/2009
Rep Burgess, Michael C. [TX-26] - 3/19/2009
Rep Burton, Dan [IN-5] - 2/26/2009
Rep Buyer, Steve [IN-4] - 4/30/2009
Rep Calvert, Ken [CA-44] - 4/29/2009
Rep Campbell, John [CA-48] - 5/4/2009
Rep Capito, Shelley Moore [WV-2] - 4/1/2009
Rep Carter, John R. [TX-31] - 3/31/2009
Rep Cassidy, Bill [LA-6] - 5/4/2009
Rep Castle, Michael N. [DE] - 3/17/2009
Rep Chaffetz, Jason [UT-3] - 3/6/2009
Rep Cole, Tom [OK-4] - 4/21/2009
Rep Conaway, K. Michael [TX-11] - 5/7/2009
Rep Crenshaw, Ander [FL-4] - 5/4/2009
Rep Culberson, John Abney [TX-7] - 3/26/2009
Rep Davis, Geoff [KY-4] - 5/6/2009
Rep Deal, Nathan [GA-9] - 3/23/2009
Rep DeFazio, Peter A. [OR-4] - 3/9/2009
Rep Dent, Charles W. [PA-15] - 5/6/2009
Rep Doggett, Lloyd [TX-25] - 4/21/2009
Rep Duncan, John J., Jr. [TN-2] - 3/6/2009
Rep Ehlers, Vernon J. [MI-3] - 4/21/2009
Rep Fallin, Mary [OK-5] - 4/2/2009
Rep Flake, Jeff [AZ-6] - 5/11/2009
Rep Fleming, John [LA-4] - 3/18/2009
Rep Foxx, Virginia [NC-5] - 3/10/2009
Rep Franks, Trent [AZ-2] - 3/23/2009
Rep Garrett, Scott [NJ-5] - 3/5/2009
Rep Gerlach, Jim [PA-6] - 5/11/2009
Rep Gingrey, Phil [GA-11] - 3/30/2009
Rep Gohmert, Louie [TX-1] - 4/23/2009
Rep Goodlatte, Bob [VA-6] - 4/28/2009
Rep Granger, Kay [TX-12] - 4/28/2009
Rep Graves, Sam [MO-6] - 4/22/2009
Rep Grayson, Alan [FL-8] - 3/11/2009
Rep Guthrie, Brett [KY-2] - 5/7/2009
Rep Hall, Ralph M. [TX-4] - 4/29/2009
Rep Hare, Phil [IL-17] - 5/11/2009
Rep Harper, Gregg [MS-3] - 5/11/2009
Rep Hastings, Doc [WA-4] - 5/11/2009
Rep Heller, Dean [NV-2] - 3/6/2009
Rep Hensarling, Jeb [TX-5] - 5/4/2009
Rep Herger, Wally [CA-2] - 4/21/2009
Rep Herseth Sandlin, Stephanie [SD] - 5/6/2009
Rep Hoekstra, Peter [MI-2] - 4/28/2009
Rep Inglis, Bob [SC-4] - 4/23/2009
Rep Jenkins, Lynn [KS-2] - 4/23/2009
Rep Johnson, Sam [TX-3] - 4/22/2009
Rep Johnson, Timothy V. [IL-15] - 4/23/2009
Rep Jones, Walter B., Jr. [NC-3] - 2/26/2009
Rep Kagen, Steve [WI-8] - 2/26/2009
Rep Kaptur, Marcy [OH-9] - 4/23/2009
Rep Kingston, Jack [GA-1] - 3/6/2009
Rep Kline, John [MN-2] - 4/29/2009
Rep Lamborn, Doug [CO-5] - 4/21/2009
Rep Lance, Leonard [NJ-7] - 5/11/2009
Rep Latham, Tom [IA-4] - 4/21/2009
Rep LaTourette, Steven C. [OH-14] - 4/28/2009
Rep Linder, John [GA-7] - 5/6/2009
Rep LoBiondo, Frank A. [NJ-2] - 5/4/2009
Rep Lucas, Frank D. [OK-3] - 4/21/2009
Rep Luetkemeyer, Blaine [MO-9] - 4/21/2009
Rep Lummis, Cynthia M. [WY] - 3/19/2009
Rep Lungren, Daniel E. [CA-3] - 5/7/2009
Rep Manzullo, Donald A. [IL-16] - 4/21/2009
Rep Marchant, Kenny [TX-24] - 3/11/2009
Rep Massa, Eric J. J. [NY-29] - 4/22/2009
Rep McCarthy, Kevin [CA-22] - 5/4/2009
Rep McCaul, Michael T. [TX-10] - 4/21/2009
Rep McClintock, Tom [CA-4] - 3/6/2009
Rep McCotter, Thaddeus G. [MI-11] - 3/19/2009
Rep McDermott, Jim [WA-7] - 4/29/2009
Rep McHenry, Patrick T. [NC-10] - 4/30/2009
Rep McHugh, John M. [NY-23] - 5/4/2009
Rep McMorris Rodgers, Cathy [WA-5] - 5/4/2009
Rep Michaud, Michael H. [ME-2] - 5/7/2009
Rep Miller, Candice S. [MI-10] - 4/28/2009
Rep Miller, Jeff [FL-1] - 3/24/2009
Rep Moran, Jerry [KS-1] - 5/4/2009
Rep Murphy, Tim [PA-18] - 4/29/2009
Rep Myrick, Sue Wilkins [NC-9] - 4/28/2009
Rep Neugebauer, Randy [TX-19] - 4/30/2009
Rep Olson, Pete [TX-22] - 4/21/2009
Rep Paulsen, Erik [MN-3] - 3/30/2009
Rep Pence, Mike [IN-6] - 4/21/2009
Rep Peterson, Collin C. [MN-7] - 3/19/2009
Rep Petri, Thomas E. [WI-6] - 3/10/2009
Rep Pitts, Joseph R. [PA-16] - 4/28/2009
Rep Platts, Todd Russell [PA-19] - 3/19/2009
Rep Poe, Ted [TX-2] - 2/26/2009
Rep Posey, Bill [FL-15] - 2/26/2009
Rep Price, Tom [GA-6] - 3/10/2009
Rep Putnam, Adam H. [FL-12] - 4/28/2009
Rep Radanovich, George [CA-19] - 5/6/2009
Rep Rehberg, Denny [MT] - 2/26/2009
Rep Roe, David P. [TN-1] - 4/21/2009
Rep Rohrabacher, Dana [CA-46] - 3/6/2009
Rep Rooney, Thomas J. [FL-16] - 4/22/2009
Rep Ros-Lehtinen, Ileana [FL-18] - 4/28/2009
Rep Schakowsky, Janice D. [IL-9] - 5/6/2009
Rep Schock, Aaron [IL-18] - 5/6/2009
Rep Sensenbrenner, F. James, Jr. [WI-5] - 5/7/2009
Rep Sessions, Pete [TX-32] - 3/23/2009
Rep Shadegg, John B. [AZ-3] - 5/7/2009
Rep Shimkus, John [IL-19] - 4/22/2009
Rep Shuster, Bill [PA-9] - 5/7/2009
Rep Simpson, Michael K. [ID-2] - 4/28/2009
Rep Smith, Adam [WA-9] - 4/22/2009
Rep Smith, Adrian [NE-3] - 4/28/2009
Rep Smith, Lamar [TX-21] - 4/2/2009
Rep Stark, Fortney Pete [CA-13] - 3/26/2009
Rep Stearns, Cliff [FL-6] - 3/6/2009
Rep Taylor, Gene [MS-4] - 3/6/2009
Rep Terry, Lee [NE-2] - 3/30/2009
Rep Thompson, Glenn [PA-5] - 4/22/2009
Rep Tiahrt, Todd [KS-4] - 4/28/2009
Rep Tiberi, Patrick J. [OH-12] - 4/28/2009
Rep Upton, Fred [MI-6] - 4/29/2009
Rep Walden, Greg [OR-2] - 5/4/2009
Rep Walz, Timothy J. [MN-1] - 5/7/2009
Rep Wamp, Zach [TN-3] - 3/16/2009
Rep Westmoreland, Lynn A. [GA-3] - 4/2/2009
Rep Wilson, Joe [SC-2] - 4/29/2009
Rep Wittman, Robert J. [VA-1] - 4/1/2009
Rep Woolsey, Lynn C. [CA-6] - 2/26/2009
Rep Young, Don [AK] - 3/6/2009
[/INDENT] Step 2: Financial Services Committee

HR 1207 is now in the House Committee on Financial Services. This is THE MOST IMPORTANT STEP in this legislation! If it doesn’t get out of committee it will not come to a vote! There are 71 members on this committee and they are all listed below.
We need to let all members of the House Committee on Financial Services know that we want them to allow full House consideration of HR 1207 so it can move forward; we need them to support this. Now is the time.
Call their offices, write to them, email them, etc. Let them know they need to support HR 1207. If you live in their district, let them know. Go to their office.
[INDENT] House Committee on Financial Services
Chairman Barney Frank, MA
Republican Members
Rep. Michele Bachmann, MN [co-sponsor]
Rep. Spencer Bachus, AL [co-sponsor]
Rep. J. Gresham Barrett, SC [co-sponsor]
Rep. Judy Biggert, IL [co-sponsor]
Rep. John Campbell, CA [co-sponsor]
Rep. Michael N. Castle, DE [co-sponsor]
Rep. Scott Garrett, NJ [co-sponsor]
Rep. Jim Gerlach, PA [co-sponsor]
Rep. Jeb Hensarling, TX [co-sponsor]
Rep. Lynn Jenkins, KS [co-sponsor]
Rep. Walter B. Jones, NC [co-sponsor]
Rep. Peter King, NY
Rep. Leonard Lance, NJ [co-sponsor]
Rep. Christopher Lee, NY
Rep. Frank D. Lucas, OK [co-sponsor]
Rep. Donald A. Manzullo, IL [co-sponsor]
Rep. Kenny Marchant, TX [co-sponsor]
Rep. Thaddeus McCotter, MI [co-sponsor]
Rep. Kevin McCarthy, CA [co-sponsor]
Rep. Patrick T. McHenry, NC [co-sponsor]
Rep. Gary G. Miller, CA
Rep. Randy Neugebauer, TX [co-sponsor]
Rep. Shelley Moore Capito, WV [co-sponsor]
Rep. Ron Paul, TX [sponsor]
Rep. Erik Paulsen, MN [co-sponsor]
Rep. Bill Posey, FL [co-sponsor]
Rep. Tom Price, GA [co-sponsor]
Rep. Adam Putnam, FL [co-sponsor]
Rep. Edward R. Royce, CA
Democratic Members
Rep. Gary L. Ackerman, NY
Rep. John Adler, NJ [co-sponsor]
Rep. Joe Baca, CA
Rep. Melissa L. Bean, IL
Rep. Michael E. Capuano, MA
Rep. Andre Carson, IN
Rep. Travis Childers, MS
Rep. William Lacy Clay, MO
Rep. Emanuel Cleaver, MO
Rep. Joe Donnelly, IN
Rep. Steve Driehaus, OH
Rep. Keith Ellison, MN
Rep. Bill Foster, IL
Rep. Alan Grayson, FL [co-sponsor]
Rep. Al Green, TX
Rep. Luis V. Gutierrez, IL
Rep. Rubén Hinojosa, TX
Rep. Jim Himes, CT
Rep. Paul W. Hodes, NH
Rep. Paul E. Kanjorski, PA
Rep. Mary Jo Kilroy, OH
Rep. Ron Klein, FL
Rep. Suzanne Kosmas, FL
Rep. Stephen F. Lynch, MA
Rep. Dan Maffei, NY
Rep. Carolyn B. Maloney, NY
Rep. Carolyn McCarthy, NY
Rep. Gregory W. Meeks, NY
Rep. Brad Miller, NC
Rep. Walt Minnick, ID
Rep. Dennis Moore, KS
Rep. Gwen Moore, WI
Rep. Ed Perlmutter, CO
Rep. Gary Peters, MI
Rep. David Scott, GA
Rep. Brad Sherman, CA
Rep. Jackie Speier, CA
Rep. Nydia M. Velázquez, NY
Rep. Maxine Waters, CA
Rep. Melvin L. Watt, NC
Rep. Charles Wilson, OH
[/INDENT] Help with this all important public outreach. NOW REALLY IS THE TIME!
Here’s a sample letter you can use:
[INDENT] Dear Representative,
Please co-sponsor and/or support H.R.1207, an effort to audit the Federal Reserve.
Recently, it has come to light that there is little to no accountability to the people on the part of the Federal Reserve. While the citizens of this country are required by law to give an accounting of every penny they come in contact with, the Federal Reserve has never been held to the same standard. During this time of extreme economic crisis, the people deserve an accounting of where our money is going.
Currently there are 149 co-sponsors for this legislation, and it is enjoying bi-partisan support. Your efforts in supporting this important legislation would go a long way in proving to your constituents that you not only hold the Federal Reserve to the same standard as you do your constituents, but it would also show that you believe in transparency. Anything less than support for this resolution suggests that you are in favor of secrecy and a lack of accountability to the people who pay the bills. We pay the tab; we have a right to know where our money is going.
Unlike recent bills that you voted in favor of that had hundreds of pages and just a few hours to read, this bill can be read in under 5 minutes. I encourage you to take the time to read it, and then move to support it.
Thank you in advance for your attention on this important legislation. I have every expectation that you will do right by your constituents and support this measure.
Sincerely,
[/INDENT] Step 3: The People

Tell everyone you know about HR 1207 and ask them to support it and to contact their representative as well. Link to this page and to CampaignForLiberty.com.
This initiative is crucial and we need to redouble our efforts to get HR 1207 passed.

HR 1207 - Federal Reserve Transparency Act

By tmartin • May 12, 2009

No comments yet Young Americans for Liberty profiles Congressman Ron Paul’s bill to audit the Federal Reserve, HR 1207. Campaign for Liberty’s Matt Hawes and Ron Paul’s Legislative Assistant, Paul-Martin Foss, offer their insight on this historically significant push for legislation.

Source: Young Americans for Liberty
Date: 5/9/2009
Transcript
Kevin Brett:This spring, Washington DC is buzzing with news of a legislative effort that could potentially alter the landscape of the American economy. Congressman Ron Paul has introduced a new bill to the House of Representatives entitled HR 1207, also known as the Federal Reserve Transparency Act.
We sat down with Matthew Hawes, the vice-president of programs at Campaign for Liberty to discuss the purpose and implications of Dr. Paul’s bill.
Matthew Hawes: And this we believe is to restore a piece of legislation because what this bill will do is it will allow for a complete and thorough audit of the Federal Reserve system.
The Federal Reserve System was created in 1913. It’s got control over the nation’s flow of money and credit and it has never truly been accountable to Congress. So it releases details of its meetings on its own timetable, even then those details that it releases are edited.
When it comes before Congress, it doesn’t have to fully answer the questions that the congressman puts on. So Congressman Paul’s bill, this Transparency Act, would remove any current restrictions on audits of the Federal Reserve, of which there are quite a few current restrictions. Remove any of these restrictions and for the first time allow Congress to take a full and complete look at the Federal Reserve’s books.
Kevin Brett:Paul-Martin Foss who is Congressman Ron Paul’s legislative assistant for monetary policy and financial services gave a comprehensive briefing regarding the specifics of the bill.
Paul-Martin Foss: The crucial issue, the one which HR 1207 addresses with regard to Federal Reserve transparency requires us to take a look at 31 USC 714, which is the section of the US Code that establishes that the Federal Reserve may be audited by the General Accounting Office, but which establishes severe restrictions on just what GAO may in fact audit.
Those are transactions for or with a foreign central bank, government of a foreign country, or non-private international financing organization. Deliberations, decisions, or actions on monetary policy matters including discount window operations, reserves with member banks, securities, credit, interest on deposits, and open market operations, transactions made under the direction of the Federal Open Market Committee, or a part of the discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1) - (3) of this subsection.
So those are the areas that GAO may not include by law in its audit. So what we see is the full clause that basically encompasses about everything the Fed does in the realm of monetary policy, open market operations, and quantitative easing. Essentially the only thing the GAO can audit are some of the check processing, currency stored, shipments, some of the regulatory bank examination functions. On the most important matters, which directly affect the strength of the dollar and the health of the financial system, are immune from oversight. (more…)