[Congressional Record Volume 158, Number 111 (Tuesday, July 24, 2012)]
[House]
[Page H5139]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    FEDERAL RESERVE TRANSPARENCY ACT

  (Mr. MARCHANT asked and was given permission to address the House for 
1 minute.)
  Mr. MARCHANT. Mr. Speaker, I rise today as an original cosponsor of 
the Federal Reserve Transparency Act of 2011, authored by my colleague 
from Texas, Ron Paul. I commend Congressman Paul for his years of 
diligence in pursuing this issue. It has long since been time for the 
Federal Reserve to commit to an audit.
  This legislation requires the Comptroller General to complete an 
audit of the Federal Reserve Board of Governors and of the Federal 
Reserve Bank. Many of my constituents have been calling and writing and 
asking me for this significant new transparency of the Federal Reserve. 
I agree with them on the urgent need for accountability. This 
legislation is an important step forward in achieving that goal.
  I urge all of my colleagues to join me in supporting the Federal 
Reserve Transparency Act.

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