NTU urges all Representatives to vote "YES" on the Motion to Recommit the Conference Report on H.R. 4173, the Frank/Dodd Financial Regulation Act. This Motion to Recommit would require the Government Accountability Office to conduct a robust and comprehensive audit of the Federal Reserve.
Among its many other disastrous provisions, H.R. 4173 would confer more power upon a Federal Reserve which repeatedly either failed to detect or made the problems in the financial sector worse. We believe that thoroughly auditing the Fed would help to protect taxpayers in the future, because it would implement a degree of accountability and transparency not currently found in the underlying bill.
Transparency is not a Democrat or Republican issue, but rather an issue of right or wrong. If Congress insists on further expanding the Fed’s reach, Americans deserve to know more about the workings of a government-sanctioned entity whose decisions directly affect their economic livelihood.
A “YES” vote on the Motion to Recommit the Conference Report on H.R. 4173 will be significantly weighted as a pro-taxpayer vote in our annual Rating of Congress.
If you have any questions, please contact NTU Federal Government Affairs Manager Jordan Forbes at (703) 683-5700