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S. 2232 (114th): Federal Reserve Transparency Act of 2015

About the bill

The Federal Reserve Transparency Act of 2015 would have opened up the Federal Reserve System to a more complete audit. The bill, long advocated for by its sponsor Sen. Rand Paul (R-KY) and his father, former Rep. Ron Paul (R-TX), was rejected by a vote of 53–44, with most Republicans voting in favor and most Democrats voting against. Sixty votes were needed to advance the bill.

What would the “Audit the Fed” bill have done?

Under current law, the Federal Reserve System (“the Fed”) — a quasi-governmental organization that acts as the country’s central bank— does undergo regular audits. Private audit firms, like Deloitte & Touche, conduct audits of the Fed’s financial statements (here’s one from last March) and the Government Accountability Office, a government agency, conducts …

Sponsor and status

Rand Paul

Sponsor. Senator for Kentucky. Republican.

Read Text »
Last Updated: Nov 4, 2015
Length: 4 pages
Nov 3, 2015
114th Congress (2015–2017)
Died in a previous Congress

This bill was introduced in a previous session of Congress but was killed due to a failed vote for cloture, under a fast-track vote called "suspension", or while resolving differences on January 12, 2016.

Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).


26 Cosponsors (26 Republicans)

See Instead

H.R. 24 (same title)
Ordered Reported — May 17, 2016



Nov 3, 2015

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Jan 12, 2016
Failed Cloture in the Senate

The Senate must often vote to end debate before voting on a bill, called a cloture vote. The vote on cloture failed. This is often considered a filibuster. The Senate may try again.

S. 2232 (114th) was a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number S. 2232. This is the one from the 114th Congress.

This bill was introduced in the 114th Congress, which met from Jan 6, 2015 to Jan 3, 2017. Legislation not passed by the end of a Congress is cleared from the books.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“S. 2232 — 114th Congress: Federal Reserve Transparency Act of 2015.” 2015. February 7, 2023 <>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from, the official portal of the United States Congress. is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.