U.S. Rep. Lynn Westmoreland voted this week to bring additional transparency and accountability to our financial institutions by supporting an audit of the Federal Reserve.
The proposal, called the Federal Reserve Transparency Act, would require a full audit of the Federal Reserve by the Government Accountability Office by the end of this year.
“The one thing I see in Washington everyday is a need to look out for working taxpayers who deserve to know how their money is being used and, in many cases, abused,” said Westmoreland. “An audit would go a long way toward making government more transparent, and that’s never a bad thing.”
While a vote was taken, the Democrat majority defeated the common-sense proposal.
“It’s clear from everything the Democrats have done that they’re not on the side of American workers who are trying to make a living, raise a family and keep up with more and more spending from Washington,” said Westmoreland.
Since its creation, the Federal Reserve has operated in the shadows without true oversight of its operations. However, it’s a powerful part of the United States economy, and its decisions impact every working American.
“Democrats don’t have a problem spending taxpayer money, but they sure do have a problem with letting Americans know how much and where it’s being spent,” concluded Westmoreland.
