More Robust Amendment to Audit the Fed Fails to Pass
Just minutes after the Senate passed Sen. Bernie Sanders’ (I-Vt.) Audit the Fed amendment 96-0, an amendment proposed by Sen. David Vitter (R-La.) to strengthen
Jul 31, 2020488.8K Shares8.2M Views
Just minutes after the Senate passedSen. Bernie Sanders’ (I-Vt.) Audit the Fed amendment 96-0, an amendment proposed by Sen. David Vitter (R-La.) to strengthen Sanders’ amendment failed, 37-62.
Vitter wanted to sub in language requiring the Government Accountability Office to audit the Fed continually. He proposed substituting language closer to Sanders’ original proposal (which was watered down by Sen. Chris Dodd (D-Conn.)) or a version of Audit the Fed by Rep. Alan Grayson (D-Fla.) and Rep. Ron Paul (R-Texas), passed in the House financial regulatory reform bill.
The Sanders amendment as passed provides for a one-off audit of the Fed’s books since 2008 and requires the Fed to disclose information about any emergency lending programs in the future.
Paolo Reyna
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Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
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