The Hill reports,
The House Oversight Committee easily cleared legislation Wednesday that would require a top-to-bottom audit of the Federal Reserve.
The bill, sponsored by Rep. Ron Paul (R-Texas), was advanced by the committee on a bipartisan voice vote with no vocal opposition.
The measure, which has garnered 257 co-sponsors from both parties, would require the Government Accountability Office (GAO) to conduct a full audit of the Fed’s operations, including its monetary policy deliberations, for the first time. . . .
Before the audit bill cleared the oversight committee on Wednesday, ranking member Elijah Cummings (D-Md.) attempted to introduce an amendment that would prevent the GAO from auditing the Fed’s deliberations on monetary policy. Cummings withdrew the amendment after Chairman Darrell Issa (R-Calif.) voiced opposition, saying it “essentially guts this bill.”