retirement from Congress doesn’t mean Federal Reserve officials can rest any easier.
Rep. Paul Broun, R-Ga., is moving rapidly to assume the Texas Republican’s mantle, pressuring lawmakers to get a tighter grip on the central bank.
Broun has replaced Paul in pushing for a bipartisan proposal (HR 24) to require the comptroller general to conduct a mandatory audit of the Federal Reserve. The proposal is similar to one sponsored by Paul that died in the Senate in the 112th Congress, after passing the House 327-97 in July.
While Broun’s bill faces strong opposition from senior Democrats in the Senate, who see it as an intrusion on the central bank’s authority, the measure appears to be well-positioned for a revival in the House, where members of both parties, particularly from rural districts, have argued for more aggressive oversight of the Federal Reserve.
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