Gabbard, Hanabusa Split on Auditing Federal Reserve
The GOP measure receives support of 106 House Democrats. A companion bill is in the Senate.
U.S. Reps. Tulsi Gabbard and Colleen Hanabusa split their votes yesterday on a bill calling for an audit of the Federal Reserve System.
Gabbard was among 106 Democrats who voted in favor of the measure in the 333-92 vote.
Hanabusa sided with 92 Democrats, including leaders Nancy Pelosi and Steny Hoyer, in opposing the bill. One GOP member also voted with Democrats.
The Fed building in D.C.
Flickr: Tim Evanson
According to The Hill, the bill would “require the comptroller general to conduct an audit of the Federal Reserve’s board of governors and banks within one year and submit a report to Congress on the findings.”
The Hill said a version of the bill sponsored by then-Rep. Ron Paul (R-Texas) “passed in 2012 by a vote of 327-98. Paul’s son, Sen. Rand Paul (R-Ky.), has introduced companion legislation in the Senate.”
Broun said, “This is a vital piece of legislation that will help to usher in a new era of transparency in this nation’s monetary policy.”
But Rep. Elijah Cummings (D-Md.) said “Such audits, which could be conducted on an almost real-time basis under this bill, could have a chilling effect on the Fed.”
