United States 119th Congress Status: In Committee 47 R cosponsors

HR 24 — Federal Reserve Transparency Act of 2025

Last action — Referred to the House Committee on Oversight and Government Reform.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced January 03, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 26% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 47 sponsors

    1 primary, 46 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (47 R).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Federal Reserve Transparency Act of 2025This bill directs the Government Accountability Office (GAO) to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.

Bill Text

How this bill changes current law

7 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill mandates a full audit of the Federal Reserve by the Comptroller General, removing certain audit restrictions and amending related provisions for transparency.

  • 31 U.S.C. § 714

    the second sentence.

    This change removes a limitation on the Comptroller General's ability to audit the Board and Federal reserve banks.

  • 31 U.S.C. § 714

    or (f)

    This change enables the Comptroller General to conduct audits without being constrained by provisions related to subsection (f).

  • 31 U.S.C. § 714

    the third undesignated paragraph of section 13 → section 13(3)

    This change updates a reference to a section in the Federal Reserve Act for clarity.

  • 31 U.S.C. § 714

    subsection (f)

    This change eliminates subsection (f), removing specific restrictions on audits.

  • 12 U.S.C. § 248

    has the same meaning as in section 714(f)(1)(A) of title 31, United States Code → means a program or facility, including any special purpose vehicle or other entity established by or on behalf of the Board of Governors of the Federal Reserve System or a Federal reserve bank, authorized by the Board of Governors under section 13(3), that is not subject to audit under section 714(e) of title 31, United States Code

    This change clarifies the definition of certain programs and facilities related to Federal Reserve actions.

  • 12 U.S.C. § 248

    or in section 714(f)(3)(C) of title 31, United States Code, the information described in paragraph (1) and information concerning the transactions described in section 714(f) of such title, → the information described in paragraph (1)

    This change removes additional references to audit exclusions, potentially broadening the scope of information subject to disclosure.

  • 12 U.S.C. § 248

    and section 13(3)(C), section 714(f)(3)(C) of title 31, United States Code, and → , section 13(3), and

    This change modernizes the citation related to information restrictions, aligning it with the updated definitions.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Oversight and Government Reform.

Sponsors

Sponsorship breakdown

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1 sponsors · 46 co-sponsors · 500 not signed on

Sponsors (1)

Co-sponsors (46)

Not signed on (500)

500 members have not signed on to this bill.

Show all 500 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance technology
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Frequently asked questions

What does HR 24 do?
Federal Reserve Transparency Act of 2025This bill directs the Government Accountability Office (GAO) to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.
Who sponsors HR 24?
HR 24 is sponsored by Massie, Thomas (Republican), Biggs, Andy (Republican), Boebert, Lauren (Republican), Bost, Mike (Republican), Brecheen, Josh (Republican), Burchett, Tim (Republican), Burlison, Eric (Republican), Cammack, Kat (Republican), Cline, Ben (Republican), Cloud, Michael (Republican), Collins, Mike (Republican), Crane, Elijah (Republican), Crawford, Eric A. "Rick" (Republican), Davidson, Warren (Republican), Estes, Ron (Republican), Finstad, Brad (Republican), Fitzpatrick, Brian K. (Republican), Gosar, Paul A. (Republican), Greene, Marjorie Taylor (Republican), Griffith, H. Morgan (Republican), Hageman, Harriet M. (Republican), Luna, Anna Paulina (Republican), Mace, Nancy (Republican), McClintock, Tom (Republican), McCormick, Richard (Republican), Miller, Mary E. (Republican), Moolenaar, John R. (Republican), Moore, Barry (Republican), Norman, Ralph (Republican), Ogles, Andrew (Republican), Palmer, Gary J. (Republican), Perry, Scott (Republican), Roy, Chip (Republican), Rutherford, John H. (Republican), Spartz, Victoria (Republican), Steube, W. Gregory (Republican), Tenney, Claudia (Republican), Weber, Randy K. Sr. (Republican), Webster, Daniel (Republican), Bilirakis, Gus M. (Republican), Green, Mark E. (Republican), Guthrie, Brett (Republican), Harris, Andy (Republican), Wied, Tony (Republican), Hamadeh, Abraham J. (Republican), Rulli, Michael A. (Republican), and Biggs, Sheri (Republican).
What is the current status of HR 24?
This bill is in committee in the House. Introduced January 03, 2025. It must pass committee before a floor vote.
Where can I track HR 24?
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