Audit the Federal Reserve, balance the budget, and stop burdening future generations with trillions in IOUs.
Audit the Federal Reserve.
Occurrences
Today, Congressman Thomas Massie reintroduced H.R. 24, the Federal Reserve Transparency Act of 2025, also known as “Audit the Fed.” The bill would require the Comptroller General to conduct a full examination of the Board of Governors of the Federal Reserve System and the Federal Reserve Banks.
H.R.24 - 119th Congress (2025-2026): Federal Reserve Transparency Act of 2025
H.R.24 - 118th Congress (2023-2024): Federal Reserve Transparency Act of 2023
The Federal Reserve Transparency Act of 2015 would require the Comptroller General to conduct a full examination of the Federal Reserve System.
Evidence
Today, Congressman Thomas Massie reintroduced H.R. 24, the Federal Reserve Transparency Act of 2025, also known as “Audit the Fed.” The bill would require the Comptroller General to conduct a full examination of the Board of Governors of the Federal Reserve System and the Federal Reserve Banks.
Sponsor: Rep. Massie, Thomas [R-KY-4] (Introduced 01/03/2025). Latest Action: House - 01/03/2025 Referred to the House Committee on Oversight and Government Reform. Tracker: Tip | This bill has the status Introduced.
Sponsor: Rep. Massie, Thomas [R-KY-4] (Introduced 01/09/2023). Latest Action: House - 01/09/2023 Referred to the House Committee on Oversight and Accountability. Tracker: Tip | This bill has the status Introduced.
The House Oversight and Government Reform Committee has announced it will consider Congressman Thomas Massie’s H.R. 24, the Federal Reserve Transparency Act of 2015, also known as “Audit the Fed,” in a markup session on Tuesday, May 17, 2016. A committee markup ... is the important step between introducing a bill and voting on it on the floor of the House.
Sponsor: Rep. Broun, Paul C. [R-GA-10] (Introduced 01/03/2013). Latest Action: Senate - 09/18/2014 Received in the Senate. Roll Call Votes: There has been 1 roll call vote. This bill has the status Passed House. Passed/agreed to in House: ... 333 - 92 (Roll no. 504).
Vote Question: On Motion to Suspend the Rules and Pass, as Amended. To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States, and for other purposes. Status: Passed. yea: 333; nay: 92. Massie Republican Kentucky KY Yea.
Sponsor: Rep. Massie, Thomas [R-KY-4] (Introduced 01/06/2015). Committee Reports: H. Rept. 114-692. Latest Action: House - 07/14/2016 Placed on the Union Calendar, Calendar No. 536. This bill has the status Introduced.
To require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States... the Comptroller General of the United States shall complete an audit... within 12 months after the date of the enactment of this Act.
H.R. 24, the Federal Reserve Transparency Act of 2015, was introduced on January 6, 2015, by Representative Thomas Massie (R-KY)... Representative Massie offered a substitute amendment, which was agreed to by voice vote. The Committee ordered the bill reported, as amended, favorably by voice vote.
The House Oversight and Government Reform Committee... has announced it will consider Congressman Thomas Massie's H.R. 24, the Federal Reserve Transparency Act of 2015, also known as “Audit the Fed,” in a markup session... The Federal Reserve Transparency Act of 2015 would require the Comptroller General to conduct a full examination of the Federal Reserve System.
Sponsor: Rep. Massie, Thomas [R-KY-4] (Introduced 01/03/2017). Committee Reports: H. Rept. 115-318. Latest Action: House - 09/21/2017 Placed on the Union Calendar, Calendar No. 228. This bill has the status Introduced.
H.R. 24 directs the Government Accountability Office (GAO) to conduct a full audit of the Federal Reserve within a year of enactment. GAO must also provide a report on this audit to Congress ninety days after the audit is complete. On March 28, 2017, the Committee met in open session and ordered reported favorably the bill, H.R. 24, by voice vote.
Sponsor: Rep. Massie, Thomas [R-KY-4] (Introduced 01/03/2019). Latest Action: House - 01/03/2019 Referred to the House Committee on Oversight and Reform. This bill has the status Introduced.
Sponsor: Rep. Massie, Thomas [R-KY-4] (Introduced 01/04/2021). Latest Action: House - 01/04/2021 Referred to the House Committee on Oversight and Reform. This bill has the status Introduced. Specifically, the bill directs the GAO to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks.
Sponsor: Rep. Massie, Thomas [R-KY-4] (Introduced 01/09/2023). Latest Action: House - 01/09/2023 Referred to the House Committee on Oversight and Accountability. This bill has the status Introduced. Specifically, the bill directs the GAO to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks.
Sponsor: Rep. Massie, Thomas [R-KY-4] (Introduced 01/03/2025). Latest Action: House - 01/03/2025 Referred to the House Committee on Oversight and Government Reform. This bill has the status Introduced. This bill directs the Government Accountability Office (GAO) to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks.
Assessments
Thomas Massie repeatedly introduced and advanced audit-the-Fed legislation, including committee markup, but the cited bills remained introduced and were not enacted into law. That is a serious legislative effort, but the promised outcome did not occur.
Massie repeatedly introduced Federal Reserve Transparency Act / Audit the Fed legislation, including H.R. 24 in 2023 and 2025, and earlier versions advanced as far as committee consideration. However, the provided evidence shows the bills were not enacted and the promised outcome, an audit of the Federal Reserve, was not delivered. Because there was a serious legislative attempt without final delivery, this is classified as never with an effort badge.