Posts Tagged → HR1207
Alabama’s Republican Congressmen Support the Audit the Fed Bill
(Birmingham, AL) The Federal Reserve Transparency Act of 2009 (HR 1207) was introduced by Texas Congressman and former Republican Liberty Caucus Honorary Chairman Dr. Ron Paul on February 26, 2009. The bill currently enjoys 200 cosponsors. It “directs the Comptroller General to complete, before the end of 2010, an audit of the Board of Governors of the Federal Reserve System and of the federal reserve banks, followed by a detailed report to Congress.”
This morning, the Alabama Republican Liberty Caucus, working in concert with other online activists, used Twitter to promote a campaign to call Representative Jo Bonner to urge his support of HR 1207. A couple of hours after the campaign was launched, we received word that Bonnor was now cosponsoring the bill.
“We’d like to thank Jo Bonnor for adding his name to the list,” said ALRLC Secretary and Alabama Republican Assembly President Shana Kluck. “Currently, all of Alabama’s Republican representatives have put their names on the bill. Unfortunately, it seems that Alabama’s Democratic delegation to Congress isn’t as interested in transparency and open government.”
Activists have been trying to contact Alabama Democrats to urge their support of the legislation. By our count, fifty Democrats currently cosponsor the bill, but none from Alabama. One activist received a written response from Representative Bobby Bright.
“Currently, H.R. 1207 is before the House Committee on Financial Services.” responded Bright. “Please be assured I will monitor this legislation and keep your views in mind if it comes to the House floor for a vote.”
Noting that Bright had failed to directly answer the request, “Will you, or will you not, cosponsor HR1207?” was the response on the ALRLC’s blog.
The Federal Reserve Sunshine Act of 2009 (S 604) is the Senate companion legislation and it has been referred to the US Senate Committee on Banking, Housing and Urban Affairs, where Alabama Senator Richard Shelby serves as the ranking member. Shelby has already supported an amendment which provides limited oversight of the Federal Reserve regarding Troubled Assets Relief Program (TARP) spending.
“Federal Reserve policy impacts every citizen of the United States on a daily basis,” said ALRLC Media Director Stephen Gordon. “Unfortunately, the Fed doesn’t receive the level of scrutiny we expect and deserve. It’s imperative that we learn more about how the Federal Reserve operates. Hopefully, the rest of Alabama’s congressional delegation will side with us regarding openness and transparency.”
The Alabama Republican Liberty Caucus is committed to advancing the cause of liberty by advancing pro-freedom legislation and electing pro-freedom candidates to public office. Additional information about the ALRLC may be found at www.ALRLC.org.
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Congressman Bobby Bright’s response to HR1207 request
At this moment, each Alabama Republican congressman is now listed as a cosponsor of HR1207, commonly known as the “Audit the Fed” bill. To date, not a single Alabama Democrat wants an open and transparent Federal Reserve process. Long-time Alabama conservative leader John Killian wrote a blog entry entitled “Will Alabama’s Shelby Kill Plan to Audit the Fed?” This article prompted activist Don Seibold to send a letter to his representative, Congressman Bobby Bright.
“I urged Bright to sign on as a co-sponsor of Congressman Ron Paul’s HR 1207 which would require that the Federal Reserve, a private institution that has more power over our nation’s economy than any other institution, be audited,” wrote Seibold in an e-mail to me.
Here is Bright’s response:
“Thank you for contacting me with your views on the Federal Reserve Transparency Act. I appreciate your comments and I welcome this opportunity to share my thoughts.
I believe that our federal government has a responsibility to be transparent and accountable, especially during a time where so many are concerned about the spending deficit. Unfortunately, Congress has recently passed legislation that ignores budget deficits and lacks sufficient fiscal responsibility. For example, the American Recovery and Reinvestment Act and the President’s Fiscal Year 2010 budget took important steps to jumpstart the economy and fund neglected programs, but ultimately incorporated excessive and unnecessary spending. I voted against these bills because I am committed to developing a comprehensive plan that addresses our troubled economy while maintaining vital mandatory and discretionary programs at appropriate levels.
I feel strongly that it should be a priority for Congress to exercise fiscal responsibility. The first thing I did when I came to Congress was join the Blue Dog Coalition because they support measures to implement pay-as-you-go (PAYGO) rules. PAYGO is a provision that would require spending for new government programs to include offsetting cuts in other programs. While I realize many expenditures provide valuable resources to worthwhile endeavors, some spending authorized by Congress could be prioritized more appropriately.
Though I opposed the American Recovery and Reinvestment Act and the Fiscal Year 2010 Budget, I truly believe Congress must demand transparency and accountability within the federal government to ensure that these funds are spent wisely. Congressman Ron Paul of Texas has introduced several bills that would require the federal government to operate openly and with more oversight. Specifically, he introduced the Federal Reserve Transparency Act, H.R. 1207, on February 26, 2009. This legislation would change the way the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States. It also directs the Comptroller General to complete, before the end of 2010, an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve banks, followed by a detailed report to Congress. This legislation would change the way audits are reported by requiring a copy to be provided to any Member of Congress before the end of the 90-day period beginning on the date when the report is finished. I believe these are steps in the right direction to provide more accountability and transparency to the American people.
Currently, H.R. 1207 is before the House Committee on Financial Services. Please be assured I will monitor this legislation and keep your views in mind if it comes to the House floor for a vote.
Again, thank you for contacting me. I appreciate your thoughts and value your input. Please do not hesitate to contact me or my office regarding this or any other matter that is important to you. If you would like to learn more about my positions on the issues or receive regular updates on what we are working on in Congress, please visit my website at www.bright.house.gov and sign up for my e-Newsletter.
Sincerely,
Bobby Bright
Member of Congress
We’d like to know why Bright didn’t directly address Seibold’s direct question. It was a simple request for him to cosponsor a bill which 200 other congressman already have. Our question for the Congressman is quite simple: Will you, or will you not, cosponsor HR1217?
Please give Rep. Bonner a call and ask him to support HR1207
UPDATE: Thanks for the help and apparently our telephone calls worked. We’ve just received word that Jo Bonner is now a co-sponsor of HR 1207. Please go ahead and give his office a call anyway in order to thank him for his support of an open and transparent monetary policy.
On Friday, we asked Congressman Jo Bonner whether he’ll be siding with the rest of Alabama’s Republican congressional delegation or siding with the Democrats on HR 1207, the Federal Reserve Transparency Act of 2009.
Today, we have some national assistance in trying to persuade Congressman Bonner to become the 191st cosponsor of the bill. Right now, folks are getting the word out on Twitter to give Congressman Bonner a call.
I’d like to ask you to do two things:
- If you have a Twitter account, help us get out the word. It just takes a few seconds. If you don’t have a Twitter account, it just takes a few seconds to sign up and help us out. Once you get there, please retweet the following message: Today’s HR 1207 Call-A-Thon Target: Jo Bonner 202-225-4931 Details: http://bit.ly/LtSuF #tlot #tcot #alpolitics
- Give Congressman Bonner a call at 202-225-4931 and ask him to co-sponsor HR 1207.
These calls are already making a difference and we only need 28 more co-sponsors for a solid majority.
ALRLC encourages Alabama’s congressional delegation to support Federal Reserve Transparency Act
(Birmingham, AL) On Tuesday night, the Alabama Republican Liberty Caucus unanimously adopted a resolution encouraging Alabama’s congressional delegation to support H.R. 1207, the Federal Reserve Transparency Act of 2009. Wikipedia describes H.R. 1207 as follows:
According to its short title, the Federal Reserve Transparency Act of 2009 amends Title 31 of the United States Code “to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported”. It strikes exceptions to the audit protocol in 31 U.S.C. § 714 for the Federal Reserve System, the central bank of the United States, and replaces an indefinite deadline with a deadline of December 2010.
“All Americans should support this important legislation regardless of their political views,” said Alabama Republican Liberty Caucus Chair Scott Boykin. “Transparency in public institutions is a fundamental value in a free society.”
The bill currently has 179 co-sponsors in the House of Representatives, including Congressmen Robert Aderholt, Mike Rogers and Spencer Bachus from Alabama.
“We like to thank the three members of our congressional delegation who have signed onto the bill,” said ALRLC Media Director Stephen Gordon. “This should be an incredibly easy bill for any Republican to support and we’ve already got 35 cosponsors from the Democratic side of the aisle. We’d like to encourage Joe Bonner, Artur Davis, Bobby Bright and Parker Griffith to jump on board before the train leaves the station.”
The Alabama Republican Liberty caucus is committed to advancing the cause of liberty by advancing pro-freedom legislation and electing pro-freedom candidates to public office.
