ATLANTA, January 6, 2013 — Ron Paul retired at the end of the last Congress, but one Georgia congressman says, “Moving forward, my plan is to pick up right where Congressman Paul left off.”
U.S. Rep. Paul Broun (R-Ga.) started down that path this week when he reintroduced “Audit the Fed” legislation for the current session of Congress. The measure, which would require that the U.S. Comptroller General audit the Federal Reserve’s Board of Governors and Federal Reserve banks, was originally written and championed by Paul, a Republican who often espoused Libertarian ideals, as does Broun.
Paul’s version of “Audit the Fed” legislation passed the House last session by a 327-98 margin. It had 274 cosponsors.
“His efforts paid off when the House passed his legislation with overwhelming bipartisan support during the 112th Congress,” Broun said in a statement. “This accomplishment in itself marked the most significant stride made toward bringing real transparency to the nation’s monetary policy.”
Paul, a three-time candidate for president, often expressed his strong Libertarian streak and a preference for free market over government regulation. Paul opted for retirement last year rather than run for an all but guaranteed re-election.
Broun, first elected to Congress in July 2007, is a vocal critic of President Obama’s policies and often rails against bloated federal bureaucracy. He’s regularly lambasted the TSA as a “colossal disappointment” and worked to repeal Obamacare.
Now the Federal Reserve is the target of Broun’s scorn.
“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,” Broun said. “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.”
Added Broun: “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.”
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