Federal Reserve Transparency Act of 2025
Sponsored By: Representative Massie
Introduced
Summary
Comprehensive audit of the Federal Reserve. This bill would require the Comptroller General to complete a detailed audit of the Board of Governors and every Federal Reserve Bank within 12 months of enactment. It would also repeal a statutory limitation in 31 U.S.C. 714 and amend Federal Reserve Act section 11(s) to change how programs or facilities under section 13(3) are defined and handled for information release.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Audit the Federal Reserve and report
If enacted, the GAO (Comptroller General) would audit the Board of Governors and all Federal Reserve Banks. The audit would need to finish within 12 months after enactment. Within 90 days after the audit ends, GAO would send a report to Congress leaders and any Member who asks. The report would describe findings and may suggest changes. This could boost oversight of the Fed, but it would not change your taxes or benefits directly.
Broader Fed audits and disclosure updates
If enacted, the bill would remove limits in the law that restrict some Federal Reserve audits. It would strike subsection 714(f) and a limiting sentence in 714(b), and make matching edits. It would also update how certain emergency lending programs under section 13(3), including special purpose vehicles, are defined in law. Some disclosure rules would shift to match the new definitions. This likely expands audits, but some information would still fall outside certain audits. Households would see only indirect effects.
Sponsors & CoSponsors
Sponsor
Massie
KY • R
Cosponsors
Biggs (AZ)
AZ • R
Sponsored 1/3/2025
Boebert
CO • R
Sponsored 1/3/2025
Bost
IL • R
Sponsored 1/3/2025
Brecheen
OK • R
Sponsored 1/3/2025
Burchett
TN • R
Sponsored 1/3/2025
Burlison
MO • R
Sponsored 1/3/2025
Cammack
FL • R
Sponsored 1/3/2025
Cline
VA • R
Sponsored 1/3/2025
Cloud
TX • R
Sponsored 1/3/2025
Collins
GA • R
Sponsored 1/3/2025
Crane
AZ • R
Sponsored 1/3/2025
Crawford
AR • R
Sponsored 1/3/2025
Davidson
OH • R
Sponsored 1/3/2025
Estes
KS • R
Sponsored 1/3/2025
Finstad
MN • R
Sponsored 1/3/2025
Fitzpatrick
PA • R
Sponsored 1/3/2025
Gosar
AZ • R
Sponsored 1/3/2025
Greene (GA)
GA • R
Sponsored 1/3/2025
Griffith
VA • R
Sponsored 1/3/2025
Hageman
WY • R
Sponsored 1/3/2025
Luna
FL • R
Sponsored 1/3/2025
Mace
SC • R
Sponsored 1/3/2025
McClintock
CA • R
Sponsored 1/3/2025
McCormick
GA • R
Sponsored 1/3/2025
Miller (IL)
IL • R
Sponsored 1/3/2025
Moolenaar
MI • R
Sponsored 1/3/2025
Moore (AL)
AL • R
Sponsored 1/3/2025
Norman
SC • R
Sponsored 1/3/2025
Ogles
TN • R
Sponsored 1/3/2025
Palmer
AL • R
Sponsored 1/3/2025
Perry
PA • R
Sponsored 1/3/2025
Roy
TX • R
Sponsored 1/3/2025
Rutherford
FL • R
Sponsored 1/3/2025
Spartz
IN • R
Sponsored 1/3/2025
Steube
FL • R
Sponsored 1/3/2025
Tenney
NY • R
Sponsored 1/3/2025
Weber (TX)
TX • R
Sponsored 1/3/2025
Webster (FL)
FL • R
Sponsored 1/3/2025
Bilirakis
FL • R
Sponsored 1/9/2025
Green (TN)
TN • R
Sponsored 1/9/2025
Guthrie
KY • R
Sponsored 1/9/2025
Harris (MD)
MD • R
Sponsored 1/15/2025
Wied
WI • R
Sponsored 1/21/2025
Hamadeh (AZ)
AZ • R
Sponsored 1/23/2025
Rulli
OH • R
Sponsored 1/31/2025
Biggs (SC)
SC • R
Sponsored 2/12/2025
Roll Call Votes
No roll call votes available for this bill.
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