Federal Reserve Transparency Act of 2025
Senate Bill Would Require Full GAO Audit of the Federal Reserve Within 12 Months
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Requires the Government Accountability Office to do a full audit of the Federal Reserve’s main board and the regional Reserve banks.
- Sets a deadline: the audit must be finished within 12 months after the bill becomes law.
- After the audit, the Comptroller General must send Congress a detailed report within 90 days and share it broadly with members of Congress who ask.
- Removes some current legal limits that block parts of the Federal Reserve from being audited, aiming to open more of its work to outside review.
- Could affect public trust and future decisions about interest rates and emergency lending, depending on what the audit finds.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Committee on Homeland Security and Governmental Affairs. Hearings held.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articles
Sen. Rand Paul reintroduces legislation to require audit of Federal Reserve, increase Congressional oversight
Senator Rand Paul has reintroduced the Federal Reserve Transparency Act to require a full audit of the Fed's operations. The bill mandates the GAO to conduct a complete audit of the Board of Governors and Reserve Banks within one year and report findings to Congress within 90 days.
Lawmakers call for an end to the Federal Reserve System
Rep. Thomas Massie reintroduced H.R. 24, the Federal Reserve Transparency Act of 2025, to audit the Federal Reserve. The bill requires the Comptroller General to conduct a full examination of the Board of Governors and Federal Reserve Banks, aiming to provide insight into secretive practices.
Source Information
Document Type
Congressional Bill
Official Title
Federal Reserve Transparency Act of 2025
Data Sources
Sponsor
Cosponsors
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