Roy G. Callahan, USN, Ret.
1529 NW 143
Street Gainesville, Florida 32606 Tel: (352) 332-9144 Fax: (352) 332-9144 Call6603@Bellsouth.net
Saturday, August 24, 2013Representative Ted Yoho511 Cannon House Office BuildingWashington, D.C. 20515On January 3, 2013, Representative Stockman introduced H
.R.33 -- Audit the Fed Act of 2013.
This bill amendstitle 31, United States Code and reforms the manner in which the Board of Governors of the Federal Reserve Sys-tem is audited by the Comptroller General of the United States and the manner in which such audits are reported.The short title to this bill is: This Act may be cited as the `Audit the Fed Act of 2013'.The bill reads as follows:
SEC. 2. AUDIT REFORM AND TRANSPARENCY FOR THE BOARD OF GOVERNORS OF THE FEDERAL RE-SERVE SYSTEM.
(a) In General- Subsection (b) of section 714 of title 31, United States Code, is amended by striking all af-ter `shall audit an agency' and inserting a period.(b) Audit- Section 714 of title 31, United States Code, is amended by adding at the end the following newsubsection:`(e) Audit and Report of the Federal Reserve System-`(1) IN GENERAL- The audit of the Board of Governors of the Federal Reserve System and theFederal reserve banks under subsection (b) shall be completed before the end of 2014.`(2) REPORT-`(A) REQUIRED- A report on the audit referred to in paragraph (1) shall be submittedby the Comptroller General to the Congress before the end of the 90-day period begin-ning on the date on which such audit is completed and made available to the Speaker of the House, the majority and minority leaders of the House of Representatives, themajority and minority leaders of the Senate, the Chairman and Ranking Member of thecommittee and each subcommittee of jurisdiction in the House of Representatives andthe Senate, and any other Member of Congress who requests it.`(B) CONTENTS- The report under subparagraph (A) shall include a detailed descrip-tion of the findings and conclusion of the Comptroller General with respect to the auditthat is the subject of the report, together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.'.I applaud your co-sponsorship of HR-24, The Federal Reserve Transparency Act and H.J. 16, a bill that encouragesrepeal of the 16hth Amendment. This is leadership by example.However, it is time for you to add your name to HR 33
Audit Reform and Transparency for the Board of Governorsof the Federal Reserve System.