Posted by Matt Hawes on 12/11/09 2:11 PM Last updated 12/11/09 3:25 PM   [Newer: Reid's health care plan and medical care costs] [Older: Ron Paul on Audit the Fed]

It looks like the House will be voting on Barney Frank's H.R. 4173 today anywhere between 1:45 and 2:15 eastern.  The vote could be extremely close.

Get contact information for your representative here, and urge him to vote against granting the Federal Reserve and Congress even more power to interfere in our economy.  Tell him to support true economic reform by fighting for a standalone vote on Audit the Fed!

Update: The bill passed the House 223-202.  You can find the roll call here.

Update #2: So here's the good news: the Paul amendment passed with the bill!  No matter how bad the overall bill, it's still pretty incredible that we were able to get a thorough audit of the Fed all the way through the House.

The bad news: the overall bill is awful, so we will continue to oppose it as this debate shifts to the Senate, where it is likely to take at least a few months - if not fall off the radar entirely.

We will continue to work to pass S 604 in the Senate (and we may get a vote soon if Senators DeMint, Sanders, Vitter, and Bunning can delay Bernanke's confirmation), and we will keep working to get Audit the Fed a standalone vote in the House.  After all, we can now tell 223 Dems that they already voted for a thorough audit!  They just need to pass it on its own merits, instead of hiding it in an overall package that would increase the ability of the federal government to intervene in the economy.

Posted 12/11/09 1:54 PM WeyrleaderZor North Little Rock, AR

Are these times in EST?

Posted 12/11/09 2:04 PM Matt Hawes Springfield, VA

Yeah, good catch. Matt

Posted 12/11/09 2:27 PM YZBot brooklyn park, MN

Looks like it passed the house. 223 yea, 202 nay.

Posted 12/11/09 2:42 PM Blonduxo Seattle, WA

Ok...what does that mean for HR 1207?

Posted 12/11/09 3:08 PM b boud2004 Tawas City, MI

So, was the audit attached to this bill, or is it getting a stand alone vote?

Posted 12/11/09 3:13 PM mstebbins Excelsior, MN

My understanding is that 1207 was passed as part of this monstrosity. A silver lining on a really ugly cloud.

Posted 12/11/09 3:21 PM larry101 New York, NY

"and urge him to vote against granting the Federal Reserve and Congress even more power" Uh, the bill strips the Fed of all regulatory powers. And they will be subject to an audit. What more powers are they getting?

Posted 12/11/09 3:24 PM aaronc Fall River, MA

Well, it still needs to pass senate.. but it seems by the way they are talking, it will pass senate.. you are right, unfortunately we didnt get the stand alone bill, we were all hoping for, but this is still a historic moment. We need to push senate for this bill, and the senate version of 1207, S 604. We need to get on Senate hard to make sure the audit provision is left in there in its current form. And if it passes senate, with the full audit language, we need to put massive pressure on our reps to push for an immediate gao audit, to expose the fed immediately, so they dont have a chance to take advantage of their new powers.

Posted 12/11/09 3:54 PM Matt Hawes Springfield, VA

Definitely doesn't strip it of all regulatory powers, as admitted by the Financial Services website itself. "The Federal Reserve will serve as the agent of the Council in regulating systemically risky firms on a consolidated basis and systemically risky activities wherever they occur, ensuring broad accountability for such regulation." Matt

Posted 12/11/09 4:03 PM aaronc Fall River, MA

It gives huge new regulatory powers to the fed.. i think you may have HR 1207 and HR 4173 mixed up.. HR 4173 (new regulatory powers to the fed bill) passed with the language of hr 1207 as an amendment attached on HR 4173.

Posted 12/11/09 4:11 PM Kent Lalley SOMERSET, PA

All the hard work to get this far and still a no vote from Dr. Paul. THAT'S what makes us different! Principle enough to vote against the bad bill as a whole even though our amendment was included. As always, I'm certain I'm with the "good guys" in this. I'm staying tuned, that's for sure. Onward!

Posted 12/11/09 4:12 PM Terry Spady Vancouver, WA

Grayson voted for this POS. What a D-Bag.

Posted 12/11/09 4:27 PM RonPaul-aholic Phoenix, AZ

Terrible, but at least there's a good possibility of a Fed audit should it be ratified. A host of new powers for the Fed at the cost of us knowing what they've been up to may prove to be a Pyrrhic victory for them. I believe Dr. Paul is right in that the results of an audit will ultimately lead to such public outcry that the Federal Reserve will join the rest of America's central banks in being dismantled.

Posted 12/11/09 4:38 PM JamesButabi Pawtucket, RI

I was really hoping for a standalone vote. Im still gonna push for S 604 cosponsors.

Posted 12/11/09 4:55 PM Matt Hawes Springfield, VA

A standalone vote on 1207 is still possible in the House. Matt

Posted 12/11/09 5:08 PM libertyspirit Modesto, CA

I called my representative, George Radonovich, and thanked him for his NO vote on Barney's bill, HR 4173, and encouraged him to continue to support HR 1207 as a stand alone bill when it comes up in the future.

Posted 12/12/09 10:04 AM jbarth3 Arlington, VA

A full audit will be stripped from the Senate version before it reaches the President's desk, you can bet your life on that.

Posted 12/14/09 08:28 AM Enigma89 vista, CA

So what is the deal. Do we still need HR 1207 to pass in order for S 604 to go to the senate? Or can we pass S 604 without having to pass HR 1207?

Posted 12/14/09 10:38 PM usapatriot Milton, VT

If I understand this correctly, the Audit the Fed legislation is now part of this larger bill which is full of provisions that preserve, protect and defend the Fed, grant the government more power, and institutionalize the whole bailout process. Furthermore, the Fed Audit could possibly (jbarth3 above says it's a certainty!) be stripped from the Senate version and yanked out of the final bill. Am I missing something? With the number of co-sponsors we had, I thought we were going to get an up or down vote on this legislation as a stand alone bill? Dr. Paul voted AGAINST this monstrosity and rightly so, but now my Representative has a convenient way of appeasing the masses by claiming he fully supported a Fed audit, and his vote on HR 4173 proves his dedication.